The rent prices in real estate in Silver Spring, in the Maryland 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 Silver Spring has risen strongly during the last 6 months. In February, the average price per sq.feet was $1.76. In the following month the price per sq.feet rose considerably to $2.09. In the following two months the price per sq.feet has risen 109 %, going from $1.92 to $2.11 per sq.feet. The price per sq.feet has had a considerable rise of 205 % 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 $2.01 to $4.14 during June, and July.
When referring to the price in Silver Spring (cities), this has risen in the last 6 months. In our first sample month during February, the average price is $1,666. In March This price remains at $1,725. In the following two months the average price has hardly changed with regard to the previous two months from $1,695.5 to $1,776.5. Based on an analysis of the first four prices and the last two months the average price has increased 112 % 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 $1,878 they are 4 % more affordable than the average price for Silver Spring . The properties with the highest average price have 4 bedrooms, Their price is 134 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,333.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most expensive ones at a cost of $9.63 / sq.feet, with an average $4.19 / sq.feet price in Silver Spring. The properties with the most expensive average prices have 1 bedroom. They are 376 % more expensive than the average followed by properties with 4 bedrooms with a price at $16.3 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,878 it is 13 % more affordable than the average price in Silver Spring. "Office" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "House". At a price of $1,968 it is 8 % 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 $2.32 / sq.feet followed by "House" priced at $15.4 / sq.feet. "Office" is the most expensive type of property with a $21.05 / sq.feet value followed by "House" with an average price of $15.4 / sq.feet.