The rent prices in real estate in Orange, in the California 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 Orange has had a strong fall during the last 6 months. In May, the average price per sq.feet was $10.07. In the following month the price per sq.feet fell considerably to $6.53. The price for the following two months in (July, August) fell 93 % with regard to the previous two months. The price per sq.feet has had a considerable fall of 27 % 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 $7.99 to $2.19 during September, and October.
When referring to the price in Orange (cities), this has risen in the last 6 months. The rent price in May is $2,375, rising in June till $2,574. During the following two months (July, August) the price has had an average rise from $2,474.5 to $2,695. 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 $2,584.75 and $2,479 between September and October.
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 $2,551 they are 21 % more affordable than the average price for Orange . The properties with the highest average price have 4 bedrooms, Their price is 62 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,494.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $2.08 / sq.feet, with an average $2.23 / sq.feet price in Orange. The properties with the most expensive average prices have 1 bedroom. They are 19 % more expensive than the average followed by properties with 3 bedrooms with a price at $2.3 / sq.feet.
The graph displaying the average rent prices displays the property type "Office" as the most affordable one. At an cost of $2,551 it is 65 % more affordable than the average price in Orange. "Condo" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "House". At a price of $2,486 it is 1 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Office" at an average price of $1.68 / sq.feet followed by "House" priced at $2.49 / sq.feet. "Townhouse" is the most expensive type of property with a $99 / sq.feet value followed by "Condo" with an average price of $63 / sq.feet.