The rent prices in real estate in Ocean City, in the New Jersey 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 Ocean City has risen strongly during the last 6 months. In October, the average price per sq.feet was $4.27. In the following month the price per sq.feet rose to $4.52. In the following two months the price per sq.feet has risen 115 %, going from $4.39 to $5.05 per sq.feet. The price per sq.feet has had a considerable rise of 159 % 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 $4.72 to $7.52 during February, and March.
When referring to the price in Ocean City (cities), this has risen considerably in the last 6 months. The rent price in October is $3,482, rising in November till $3,707. During the following two months (December, January) the average price had a considerable rise of 129 % 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 171 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 2 bedrooms are the most affordable ones. At a price of $6,693 they are 2 % more affordable than the average price for Ocean City . The properties with the highest average price have 4 bedrooms, Their price is 217 % more expensive than the average. After that we have properties with 1 bedroom priced at $9,436.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of $7.33 / sq.feet, with an average $7.89 / sq.feet price in Ocean City. The properties with the most expensive average prices have 1 bedroom. They are 294 % more expensive than the average followed by properties with 4 bedrooms with a price at $14.62 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $6,693 it is 90 % more affordable than the average price in Ocean City. "Condo" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "House". At a price of $9,030 it is 167 % 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 $6.23 / sq.feet followed by "House" priced at $8.41 / sq.feet. "Townhouse" is the most expensive type of property with a $33.57 / sq.feet value followed by "House" with an average price of $8.41 / sq.feet.