Property prices for rent in Newport (Rhode Island)
The rent prices in real estate in Newport, in the Rhode Island region have slightly fallen in the last couple of months. There has been a fall in the rent prices in this city.
The price per sq.feet in Newport has fallen during the last 6 months. In March, the average price per sq.feet was $4.19. In the following month the price per sq.feet rose to $4.57. In the following two months the price per sq.feet has practically remained the same, going from $4.38 to $4.26 per sq.feet. The price per sq.feet has had a considerable fall of 77 % 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 $4.32 to $3.31 during July, and August.
When referring to the price in Newport (cities), this has fallen considerably in the last 6 months. The rent price in March is $6,342, rising in April till $6,877. During the following two months (May, June) the average price had a considerable fall of 85 % 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 $6,106.25 to $4,398.5, which means a 72 % 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 $3,799 they are 42 % more affordable than the average price for Newport . The properties with the highest average price have 4 bedrooms, Their price is 136 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,868.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $2.79 / sq.feet, with an average $2.98 / sq.feet price in Newport. The properties with the most expensive average prices have 1 bedroom. They are 30 % more expensive than the average followed by properties with 4 bedrooms with a price at $3.86 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $3,799 it is 51 % more affordable than the average price in Newport. "Condo" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "House". At a price of $5,056 it is 371 % 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 $1 / sq.feet followed by "Condo" priced at $3.12 / sq.feet. "House" is the most expensive type of property with a $3.31 / sq.feet value followed by "Condo" with an average price of $3.12 / sq.feet.
