The rent prices in real estate in Santa Monica, in the California 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 Santa Monica has risen strongly during the last 6 months. In April, the average price per sq.feet was $4.65. In the following month the price per sq.feet fell considerably to $3.89. The price for the following two months in (June, July) had a considerable rise of 554 %. The price per sq.feet has had a considerable fall of 40 % 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 $13.97 to $5.62 during August, and September.
When referring to the price in Santa Monica (cities), there have hardly been any changes in the last 6 months. In our first sample month during April, the average price is $3,334. In May This price remains at $3,346. In the following two months the average price has hardly changed with regard to the previous two months from $3,340 to $3,236.5. 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 $4,215 they are 33 % more affordable than the average price for Santa Monica . The properties with the highest average price have 4 bedrooms, Their price is 110 % more expensive than the average. After that we have properties with 3 bedrooms priced at $6,328.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $3.76 / sq.feet, with an average $4.59 / sq.feet price in Santa Monica. The properties with the most affordable average prices have 1 bedroom. They are 3 % more affordable than the average followed by properties with 2 bedrooms with a price at $4.14 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $4,215 it is 25 % more affordable than the average price in Santa Monica. "Commercial" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Townhouse". At a price of $4,747 it is 31 % 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 $3.8 / sq.feet followed by "Condo" priced at $4.22 / sq.feet. "Commercial" is the most expensive type of property with a $93 / sq.feet value followed by "Townhouse" with an average price of $4.38 / sq.feet.