The rent prices in real estate in Princeton, in the New Jersey 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 Princeton has risen strongly during the last 6 months. In January, the average price per sq.feet was $2.22. In February this price barely changed remaining at $2.26 per sq.feet. The price for the following two months in (March, April) had a considerable rise of 127 %. The price per sq.feet has risen 109 % 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 $2.54 to $2.77 during May, and June.
When referring to the price in Princeton (cities), there have hardly been any changes in the last 6 months. In our first sample month during January, the average price is $2,853. In February This price remains at $2,861. During the following two months (March, April) the price has had an average rise from $2,857 to $3,005. 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 $2,931 and $3,042 between May and June.
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 $2,977 they are 15 % more affordable than the average price for Princeton . The properties with the highest average price have 4 bedrooms, Their price is 68 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,325.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.89 / sq.feet, with an average $2.77 / sq.feet price in Princeton. The properties with the most expensive average prices have 1 bedroom. They are 19 % more expensive than the average followed by properties with 2 bedrooms with a price at $2.45 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $2,977 it is 16 % more affordable than the average price in Princeton. "Land" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "House". At a price of $3,283 it is 48 % 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 $2 / sq.feet followed by "Condo" priced at $2.07 / sq.feet. "Land" is the most expensive type of property with a $91 / sq.feet value followed by "Townhouse" with an average price of $3.82 / sq.feet.