The rent prices in real estate in Odessa, in the Texas 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 Odessa has had a strong fall during the last 6 months. In March, the average price per sq.feet was $11.87. In April this price barely changed remaining at $11.79 per sq.feet. The price for the following two months in (May, June) had a considerable fall of 11 with regard to the previous two months. The price per sq.feet has had a considerable fall of 34 % 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 $6.58 to $2.22 during July, and August.
When referring to the price in Odessa (cities), this has fallen in the last 6 months. In our first sample month during March, the average price is $1,280. In April This price remains at $1,246. In the following two months the average price has hardly changed with regard to the previous two months from $1,263 to $1,254.5. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 92 %, going from $1,258.75 to $1,158.5 in July and August.
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 $1,078 they are 18 % more affordable than the average price for Odessa . The properties with the highest average price have 4 bedrooms, Their price is 149 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,700.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.18 / sq.feet, with an average $1.24 / sq.feet price in Odessa. The properties with the most expensive average prices have 4 bedrooms. They are 9 % more expensive than the average followed by properties with 1 bedroom with a price at $1.33 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $1,078 it is 0 % more affordable than the average price in Odessa. "" is seen as the second most affordable property type. The most expensive property type is "House" followed by "". At a price of $1,507 it is 42 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $1.16 / sq.feet followed by "Apartment" priced at $1.93 / sq.feet. "Apartment" is the most expensive type of property with a $1.93 / sq.feet value followed by "House" with an average price of $1.16 / sq.feet.