The rent prices in real estate in New Providence, in the New Jersey region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in New Providence has had a strong fall during the last 6 months. In July, the average price per sq.feet was $273.79. In the following month the price per sq.feet rose to $293.07. The price for the following two months in (September, October) had a considerable fall of 8 with regard to the previous two months. The price per sq.feet has had a considerable fall of 1 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $152.44 to $2.14 during November, and December.
When referring to the price in New Providence (cities), this has fallen in the last 6 months. The average price for July is $2,528. During August the price had a considerable fall till $2,137. During the following two months (September, October) the price has had an average rise from $2,332.5 to $2,560.5. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 92 %, going from $2,446.5 to $2,244 in November and December.
The graph displaying the average rent price for bedrooms illustrates that those properties with 4 bedrooms are the most affordable ones. At a price of $2,174 they are 27 % more affordable than the average price for New Providence . The properties with the highest average price have 3 bedrooms, Their price is 64 % more expensive than the average. After that we have properties with 2 bedrooms priced at $1,886.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of $1.95 / sq.feet, with an average $2.16 / sq.feet price in New Providence. The properties with the most expensive average prices have 1 bedroom. They are 11 % more expensive than the average followed by properties with 3 bedrooms with a price at $2.36 / sq.feet.
According to average price per property type in New Providence, "" priced at $1,597 is 27 % lower than the average price ($2,174) in this city.