The rent prices in real estate in Richmond, in the Virginia region have slightly risen in the last couple of months. There has been a rise in the rent prices in this city.
The price per sq.feet in Richmond has risen during the last 6 months. In November, the average price per sq.feet was $1.52. In the following month the price per sq.feet rose to $1.6. In the following two months the price per sq.feet has practically remained the same, going from $1.56 to $1.6 per sq.feet. The price per sq.feet has risen 107 % 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 $1.58 to $1.69 during March, and April.
When referring to the price in Richmond (cities), there have hardly been any changes in the last 6 months. In our first sample month during November, the average price is $1,589. In December This price remains at $1,548. In the following two months the average price has hardly changed with regard to the previous two months from $1,568.5 to $1,571. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 115 % during the last two months.
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 $1,973 they are 27 % more affordable than the average price for Richmond . The properties with the highest average price have 4 bedrooms, Their price is 38 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,208.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.57 / sq.feet, with an average $1.66 / sq.feet price in Richmond. The properties with the most expensive average prices have 1 bedroom. They are 22 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.7 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,973 it is 33 % more affordable than the average price in Richmond. "Townhouse" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "House". At a price of $2,055 it is 13 % 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 $1.53 / sq.feet followed by "Townhouse" priced at $1.69 / sq.feet. "House" is the most expensive type of property with a $1.73 / sq.feet value followed by "Townhouse" with an average price of $1.69 / sq.feet.