The rent prices in real estate in Silver Spring, in the Maryland region have slightly fallen in the last couple of months. There has been a fall in the rent prices in this city.
The price per sq.feet in Silver Spring has fallen during the last 6 months. In August, the average price per sq.feet was $2.04. In September this price barely changed remaining at $1.98 per sq.feet. In the following two months the price per sq.feet has practically remained the same, going from $2.01 to $1.95 per sq.feet. The price per sq.feet has fallen 95 % 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 $1.98 to $1.87 during December, and January.
When referring to the price in Silver Spring (cities), there have hardly been any changes in the last 6 months. In our first sample month during August, the average price is $1,629. In September This price remains at $1,653. In the following two months the average price has hardly changed with regard to the previous two months from $1,641 to $1,673.5. 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 $1,657.25 and $1,615 between December and January.
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 $1,606 they are 8 % more affordable than the average price for Silver Spring . The properties with the highest average price have 4 bedrooms, Their price is 67 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,075.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.29 / sq.feet, with an average $1.85 / sq.feet price in Silver Spring. The properties with the most expensive average prices have 1 bedroom. They are 5 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.72 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most expensive one. At an cost of $1,606 it is 1 % more expensive than the average price in Silver Spring. "Townhouse" is seen as the second most expensive property type. The most expensive property type is "" followed by "Villa". At a price of $2,025 it is 60 % more expensive than the average price.
According to the average cost per sq.feet, the least affordable property would be "Condo" at an average price of $1.91 / sq.feet followed by "House" priced at $2.09 / sq.feet. "Villa" is the most expensive type of property with a $24 / sq.feet value followed by "Townhouse" with an average price of $10.45 / sq.feet.