The rent prices in real estate in Rockaway, in the New Jersey 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 Rockaway has had a strong fall during the last 6 months. In October, the average price per sq.feet was $1.58. In November this price barely changed remaining at $1.51 per sq.feet. The price for the following two months in (December, January) had a considerable fall of 75 with regard to the previous two months. The price per sq.feet has had a considerable fall of 37 % 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 $1.35 to $0.5 during February, and March.
When referring to the price in Rockaway (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is $2,708. In November This price remains at $2,758. During the following two months (December, January) the average price had a considerable fall of 85 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from $2,526 to $1,173.5, which means a 46 % fall.