The rent prices in real estate in Park Rapids, in the Minnesota 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 Park Rapids has had a strong fall during the last 6 months. In October, the average price per sq.feet was $1. In the following month the price per sq.feet rose to $1.08. In the following two months the price per sq.feet has practically remained the same, going from $1.04 to $1.02 per sq.feet. The price per sq.feet has had a considerable fall of 51 % 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 $1.03 to $0.53 during February, and March.
When referring to the price in Park Rapids (cities), this has risen in the last 6 months. The rent price in October is $785, rising in November till $845. During the following two months (December, January) the price has had an average rise from $815 to $875.5. 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 $845.25 and $845 between February and March.
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 $813 they are 13 % more affordable than the average price for Park Rapids . The properties with the highest average price have 2 bedrooms, Their price is 8 % more expensive than the average. After that we have properties with 3 bedrooms priced at $766.
According to average price per property type in Park Rapids, "" priced at $778 is 4 % lower than the average price ($813) in this city.