The rent prices in real estate in Oak Ridge, in the Tennessee 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 Oak Ridge has had a strong fall during the last 6 months. In November, the average price per sq.feet was $2.38. In the following month the price per sq.feet fell considerably to $1.7. The price for the following two months in (January, February) fell 88 % with regard to the previous two months. The price per sq.feet has fallen 90 % 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 $1.92 to $1.73 during March, and April.
When referring to the price in Oak Ridge (cities), this has fallen considerably in the last 6 months. The average price for November is $3,648. During December the price had a considerable fall till $1,649. During the following two months (January, February) the average price fell 88 % 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 $2,484.5 to $2,056.5, which means a 83 % 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 $1,766 they are 22 % more affordable than the average price for Oak Ridge . The properties with the highest average price have 3 bedrooms, Their price is 248 % more expensive than the average. After that we have properties with 4 bedrooms priced at $4,181.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1 / sq.feet, with an average $1.66 / sq.feet price in Oak Ridge. The properties with the most expensive average prices have 3 bedrooms. They are 102 % more expensive than the average followed by properties with 1 bedroom with a price at $2.43 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $1,766 it is 0 % more affordable than the average price in Oak Ridge. "" is seen as the second most affordable property type. The most expensive property type is "House" followed by "". At a price of $2,932 it is 266 % 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 $1 / sq.feet followed by "House" priced at $3 / sq.feet. "House" is the most expensive type of property with a $3 / sq.feet value followed by "Apartment" with an average price of $1 / sq.feet.