The rent prices in real estate in Prior Lake, 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 Prior Lake has had a strong fall during the last 6 months. In May, the average price per sq.feet was $1.73. In the following month the price per sq.feet fell to $1.58. The price for the following two months in (July, August) fell 86 % with regard to the previous two months. The price per sq.feet has fallen 93 % 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 $1.54 to $1.43 during September, and October.
When referring to the price in Prior Lake (cities), this has risen in the last 6 months. The average price during our first sample month during May, is $1,546. During June the price went through a considerable rise reaching $1,851. In the following two months the average price has hardly changed with regard to the previous two months from $1,698.5 to $1,643. 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 $1,670.75 and $1,646 between September and October.
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 $1,539 they are 28 % more affordable than the average price for Prior Lake . The properties with the highest average price have 4 bedrooms, Their price is 54 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,746.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.15 / sq.feet, with an average $1.33 / sq.feet price in Prior Lake. The properties with the most expensive average prices have 4 bedrooms. They are 11 % more expensive than the average followed by properties with 1 bedroom with a price at $1.44 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,539 it is 28 % more affordable than the average price in Prior Lake. "House" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Townhouse". At a price of $1,559 it is 20 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $1.16 / sq.feet followed by "House" priced at $1.29 / sq.feet. "Townhouse" is the most expensive type of property with a $1.55 / sq.feet value followed by "House" with an average price of $1.29 / sq.feet.