The rent prices in real estate in Pontiac, in the Michigan 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 Pontiac has had a strong fall during the last 6 months. In July, the average price per sq.feet was $4.12. In the following month the price per sq.feet fell considerably to $0.89. The price for the following two months in (September, October) had a considerable fall of 36 with regard to the previous two months. The price per sq.feet has had a considerable fall of 53 % 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 $1.7 to $0.91 during November, and December.
When referring to the price in Pontiac (cities), there have hardly been any changes in the last 6 months. In our first sample month during July, the average price is $905. In August This price remains at $865. In the following two months the average price has hardly changed with regard to the previous two months from $885 to $878. 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 $881.5 and $888 between November and December.
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 $880 they are 30 % more affordable than the average price for Pontiac . The properties with the highest average price have 4 bedrooms, Their price is 40 % more expensive than the average. After that we have properties with 3 bedrooms priced at $937.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.79 / sq.feet, with an average $0.88 / sq.feet price in Pontiac. The properties with the most expensive average prices have 2 bedrooms. They are 6 % more expensive than the average followed by properties with 1 bedroom with a price at $0.89 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $880 it is 24 % more affordable than the average price in Pontiac. "Apartment" is seen as the second most affordable property type. The most expensive property type is "House" followed by "". At a price of $796 it is 7 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Apartment" at an average price of $0.88 / sq.feet followed by "House" priced at $0.89 / sq.feet. "Condo" is the most expensive type of property with a $0.93 / sq.feet value followed by "House" with an average price of $0.89 / sq.feet.