The rent prices in real estate in Ocean City, in the Maryland 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 Ocean City has had a strong fall during the last 6 months. In August, the average price per sq.feet was $66. In the following month the price per sq.feet fell considerably to $1.3. The price for the following two months in (October, November) had a considerable fall of 4 with regard to the previous two months. The price per sq.feet has had a considerable fall of 8 % 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 $17.58 to $1.43 during December, and January.
When referring to the price in Ocean City (cities), there have hardly been any changes in the last 6 months. In our first sample month during August, the average price is $1,445. In September This price remains at $1,450. In the following two months the average price has hardly changed with regard to the previous two months from $1,447.5 to $1,388. 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 $1,417.75 and $1,413.5 between December and January.
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 $1,434 they are 34 % more affordable than the average price for Ocean City . The properties with the highest average price have 3 bedrooms, Their price is 14 % more expensive than the average. After that we have properties with 2 bedrooms priced at $1,574.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most expensive ones at a cost of $1.42 / sq.feet, with an average $1.39 / sq.feet price in Ocean City. The properties with the most expensive average prices have 1 bedroom. They are 11 % more expensive than the average followed by properties with 3 bedrooms with a price at $1.42 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,434 it is 3 % more affordable than the average price in Ocean City. "Apartment" is seen as the second most affordable property type. The most affordable property is "Apartment" followed by "". At a price of $1,394 it is 0 % more affordable than the average price.
According to the average area price by sq.feet the most expensive property type is "Apartment with an average cost of $60 / sq.feet. "Apartment" at an average price of $60 / sq.feet has the highest price and would be directed at more affluent cities.