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 December, the average price per sq.feet was $5.93. In the following month the price per sq.feet rose to $6.73. The price for the following two months in (February, March) had a considerable rise of 234 %. The price per sq.feet has had a considerable rise of 147 % 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 $10.57 to $15.56 during April, and May.
When referring to the price in New York (cities), this has risen in the last 6 months. In our first sample month during December, the average price is $4,546. In January This price remains at $4,741. In the following two months the average price has hardly changed with regard to the previous two months from $4,643.5 to $4,491.5. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 120 % 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 $6,123 they are 21 % more affordable than the average price for New York . The properties with the highest average price have 4 bedrooms, Their price is 191 % more expensive than the average. After that we have properties with 3 bedrooms priced at $8,518.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $5.16 / sq.feet, with an average $6.24 / sq.feet price in New York. The properties with the most expensive average prices have 1 bedroom. They are 8 % more expensive than the average followed by properties with 4 bedrooms with a price at $6.76 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $6,123 it is 52 % 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 "Townhouse" followed by "House". At a price of $8,104 it is 326 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Apartment" at an average price of $2.57 / sq.feet followed by "Condo" priced at $6.24 / sq.feet. "Commercial" is the most expensive type of property with a $7.71 / sq.feet value followed by "Townhouse" with an average price of $7.28 / sq.feet.