The rent prices in real estate in New York, in the New York region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in New York has risen strongly during the last 6 months. In April, the average price per sq.feet was $40.82. In the following month the price per sq.feet rose considerably to $53.15. The price for the following two months in (June, July) had a considerable rise of 116 %. The price per sq.feet has had a considerable rise of 117 % 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 $50.81 to $59.33 during August, and September.
When referring to the price in New York (cities), there have hardly been any changes in the last 6 months. In our first sample month during April, the average price is $4,103. In May This price remains at $4,016. In the following two months the average price has hardly changed with regard to the previous two months from $4,059.5 to $3,993. Based on an analysis of the first four prices and the last two months the average price has increased 106 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $4,615 they are 25 % more affordable than the average price for New York . The properties with the highest average price have 4 bedrooms, Their price is 141 % more expensive than the average. After that we have properties with 3 bedrooms priced at $7,539.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $20.57 / sq.feet, with an average $42.05 / sq.feet price in New York. The properties with the most expensive average prices have 1 bedroom. They are 32 % more expensive than the average followed by properties with 4 bedrooms with a price at $49.84 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $4,615 it is 31 % more affordable than the average price in New York. "Condo" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "Apartment". At a price of $7,353 it is 243 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Commercial" at an average price of $2.24 / sq.feet followed by "Townhouse" priced at $4.88 / sq.feet. "Condo" is the most expensive type of property with a $95.98 / sq.feet value followed by "House" with an average price of $18.01 / sq.feet.