The rent prices in real estate in Newport News, in the Virginia region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Newport News has had a strong fall during the last 6 months. In June, the average price per sq.feet was $6.2. In the following month the price per sq.feet fell considerably to $5.27. The price for the following two months in (August, September) had a considerable fall of 20 with regard to the previous two months. The price per sq.feet has had a considerable fall of 28 % 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 $3.43 to $0.97 during October, and November.
When referring to the price in Newport News (cities), there have hardly been any changes in the last 6 months. In our first sample month during June, the average price is $1,096. In July This price remains at $1,063. In the following two months the average price has hardly changed with regard to the previous two months from $1,079.5 to $1,079. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $1,079.25 and $1,056.5 between October and November.
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 $1,061 they are 17 % more affordable than the average price for Newport News . The properties with the highest average price have 4 bedrooms, Their price is 54 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,122.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.81 / sq.feet, with an average $0.89 / sq.feet price in Newport News. The properties with the most expensive average prices have 1 bedroom. They are 64 % more expensive than the average followed by properties with 2 bedrooms with a price at $1 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $1,061 it is 10 % more affordable than the average price in Newport News. "" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "". At a price of $1,046 it is 15 % 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 $0.89 / sq.feet followed by "House" priced at $1.09 / sq.feet. "House" is the most expensive type of property with a $1.09 / sq.feet value followed by "Condo" with an average price of $0.89 / sq.feet.