The rent prices in real estate in Palm Bay, in the Florida 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 Palm Bay has had a strong fall during the last 6 months. In June, the average price per sq.feet was $2.58. In the following month the price per sq.feet fell considerably to $0.95. The price for the following two months in (August, September) had a considerable fall of 54 with regard to the previous two months. The price per sq.feet has had a considerable fall of 79 % 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 $1.36 to $1.07 during October, and November.
When referring to the price in Palm Bay (cities), this has fallen in the last 6 months. In our first sample month during June, the average price is $1,475. In July This price remains at $1,460. In the following two months the average price has hardly changed with regard to the previous two months from $1,467.5 to $1,401.5. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 95 %, going from $1,434.5 to $1,362 in October and November.
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 $1,339 they are 27 % more affordable than the average price for Palm Bay . The properties with the highest average price have 4 bedrooms, Their price is 24 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,462.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.91 / sq.feet, with an average $1.07 / sq.feet price in Palm Bay. The properties with the most expensive average prices have 1 bedroom. They are 27 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.13 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,339 it is 20 % more affordable than the average price in Palm Bay. "Condo" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Commercial". At a price of $1,165 it is 12 % 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 $1.05 / sq.feet followed by "Condo" priced at $1.17 / sq.feet. "Commercial" is the most expensive type of property with a $5 / sq.feet value followed by "Apartment" with an average price of $1.26 / sq.feet.