The rent prices in real estate in Salt Lake City, in the Utah 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 Salt Lake City has risen strongly during the last 6 months. In July, the average price per sq.feet was $1.45. In August this price barely changed remaining at $1.47 per sq.feet. The price for the following two months in (September, October) had a considerable rise of 586 %. The price per sq.feet has had a considerable rise of 428 % 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 $5.01 to $21.42 during November, and December.
When referring to the price in Salt Lake City (cities), this has risen in the last 6 months. In our first sample month during July, the average price is $1,140. In August This price remains at $1,164. During the following two months (September, October) the price has had an average rise from $1,152 to $1,296. Based on an analysis of the first four prices and the last two months the average price has increased 111 % 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 $1,383 they are 11 % more affordable than the average price for Salt Lake City . The properties with the highest average price have 4 bedrooms, Their price is 49 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,744.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.17 / sq.feet, with an average $24.61 / sq.feet price in Salt Lake City. The properties with the most expensive average prices have 1 bedroom. They are 29 % more expensive than the average followed by properties with 2 bedrooms with a price at $24.12 / sq.feet.
The graph displaying the average rent prices displays the property type "Office" as the most affordable one. At an cost of $1,383 it is 32 % more affordable than the average price in Salt Lake City. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "House". At a price of $1,697 it is 123 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $1.24 / sq.feet followed by "Condo" priced at $5.87 / sq.feet. "Townhouse" is the most expensive type of property with a $206.04 / sq.feet value followed by "Apartment" with an average price of $31.37 / sq.feet.