The rent prices in real estate in Orono, in the Maine 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 Orono has had a strong fall during the last 6 months. In May, the average price per sq.feet was $19. In the following month the price per sq.feet fell considerably to $7. The price for the following two months in (July, August) had a considerable fall of 38 with regard to the previous two months. The price per sq.feet has had a considerable fall of 61 % 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 $9 to $5.5 during September, and October.
When referring to the price in Orono (cities), this has risen considerably in the last 6 months. The average price during our first sample month during May, is $2,027. During June the price went through a considerable rise reaching $2,886. During the following two months (July, August) the average price had a considerable fall of 81 % 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 136 % during the last two months.
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 $2,801 they are 66 % more affordable than the average price for Orono . The properties with the lowest average price have 2 bedrooms, Their price is 64 % more affordable than the average. After that we have properties with 1 bedroom priced at $940.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $2,801 it is 64 % more affordable than the average price in Orono. "Farm" is seen as the second most affordable property type. The most affordable property is "Farm" followed by "". At a price of $1,018 it is 18 % more affordable than the average price.
According to the average area price by sq.feet the most expensive property type is "Farm with an average cost of $47 / sq.feet. "Farm" at an average price of $47 / sq.feet has the highest price and would be directed at more affluent cities.