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 November, the average price per sq.feet was $2.92. In the following month the price per sq.feet rose to $3.26. The price for the following two months in (January, February) had a considerable rise of 143 %. 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 $3.75 to $4.38 during March, and April.
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 November, is $4,013. During December the price went through a considerable rise reaching $4,659. During the following two months (January, February) the average price had a considerable rise of 154 % with regard to the previous two months. 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 $6,877 they are 61 % more affordable than the average price for Newport . The properties with the highest average price have 4 bedrooms, Their price is 66 % more expensive than the average. After that we have properties with 3 bedrooms priced at $7,146.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of $3.87 / sq.feet, with an average $4.57 / sq.feet price in Newport. The properties with the most expensive average prices have 4 bedrooms. They are 14 % more expensive than the average followed by properties with 3 bedrooms with a price at $4.78 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $6,877 it is 73 % more affordable than the average price in Newport. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "House". At a price of $7,980 it is 161 % 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 $4.05 / sq.feet followed by "Condo" priced at $4.29 / sq.feet. "Commercial" is the most expensive type of property with a $5 / sq.feet value followed by "House" with an average price of $4.73 / sq.feet.