The rent prices in real estate in Ocean City, in the Maryland 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 January, the average price per sq.feet was $1.39. In the following month the price per sq.feet rose considerably to $3.02. The price for the following two months in (March, April) had a considerable rise of 243 %. The price per sq.feet has had a considerable fall of 26 % 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 $3.78 to $1 during May, and June.
When referring to the price in Ocean City (cities), this has risen considerably in the last 6 months. The average price during our first sample month during January, is $1,434. During February the price went through a considerable rise reaching $2,894. During the following two months (March, April) the average price had a considerable rise of 241 % 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 $3,688.75 to $1,370, which means a 37 % 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 $1,391 they are 27 % more affordable than the average price for Ocean City . The properties with the highest average price have 3 bedrooms, Their price is 21 % more expensive than the average. After that we have properties with 2 bedrooms priced at $1,462.
With regard to the average prices per sq.feet those properties with 1 bedroom are 0 % more affordable than the average price of ($1 / sq.feet) in Ocean City. Properties with the most affordable price when referring to the number of bedrooms / sq.feet are those with 1 bedroom. They are 0 % more affordable than the average value aforementioned.
The graph displaying the average rent prices displays the property type "" as the most expensive one. At an cost of $1,391 it is 0 % more expensive than the average price in Ocean City. "Apartment" is seen as the second most expensive property type. The most expensive property type is "Townhouse" followed by "Apartment". At a price of $1,413 it is 3 % more expensive than the average price.
According to the average cost per sq.feet, the least affordable property would be "Apartment" at an average price of $50 / sq.feet followed by "Townhouse" priced at $60 / sq.feet. "Townhouse" is the most expensive type of property with a $60 / sq.feet value followed by "Apartment" with an average price of $50 / sq.feet.