The rent prices in real estate in Newport, in the Rhode Island 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 Newport has risen strongly during the last 6 months. In April, the average price per sq.feet was $2.54. In the following month the price per sq.feet rose considerably to $7.67. The price for the following two months in (June, July) had a considerable rise of 461 %. The price per sq.feet has had a considerable rise of 129 % 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 $14.32 to $18.53 during August, and September.
When referring to the price in Newport (cities), this has risen considerably in the last 6 months. The average price during our first sample month during April, is $2,789. During May the price went through a considerable rise reaching $3,586. During the following two months (June, July) the average price had a considerable rise of 147 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from $3,939.25 to $3,309.5, which means a 84 % fall.
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 $2,297 they are 36 % more affordable than the average price for Newport . The properties with the highest average price have 4 bedrooms, Their price is 87 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,364.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.58 / sq.feet, with an average $1.78 / sq.feet price in Newport. The properties with the most expensive average prices have 1 bedroom. They are 21 % more expensive than the average followed by properties with 4 bedrooms with a price at $2.07 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $2,297 it is 33 % more affordable than the average price in Newport. "" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "". At a price of $2,464 it is 39 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $0.79 / sq.feet followed by "House" priced at $8.82 / sq.feet. "House" is the most expensive type of property with a $8.82 / sq.feet value followed by "Condo" with an average price of $0.79 / sq.feet.