The rent prices in real estate in Palm Bay, in the Florida 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 Palm Bay has risen strongly during the last 6 months. In December, the average price per sq.feet was $1.05. In January this price barely changed remaining at $1.05 per sq.feet. The price for the following two months in (February, March) had a considerable rise of 309 %. The price per sq.feet has had a considerable fall of 56 % 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 $2.15 to $1.21 during April, and May.
When referring to the price in Palm Bay (cities), there have hardly been any changes in the last 6 months. In our first sample month during December, the average price is $1,345. In January This price remains at $1,390. During the following two months (February, March) the price has had an average rise from $1,367.5 to $1,479. 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 $1,423.25 and $1,355.5 between April and May.
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 $1,357 they are 22 % more affordable than the average price for Palm Bay . The properties with the highest average price have 4 bedrooms, Their price is 23 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,619.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.06 / sq.feet, with an average $1.2 / sq.feet price in Palm Bay. The properties with the most expensive average prices have 1 bedroom. They are 23 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.29 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $1,357 it is 16 % more affordable than the average price in Palm Bay. "" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "". At a price of $1,188 it is 16 % 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 / sq.feet followed by "Condo" priced at $79 / sq.feet. "Condo" is the most expensive type of property with a $79 / sq.feet value followed by "House" with an average price of $1 / sq.feet.