The rent prices in real estate in Sioux Falls, in the South Dakota 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 Sioux Falls has had a strong fall during the last 6 months. In June, the average price per sq.feet was $3.95. In the following month the price per sq.feet rose considerably to $4.72. The price for the following two months in (August, September) had a considerable fall of 21 with regard to the previous two months. The price per sq.feet has had a considerable fall of 36 % 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 $2.62 to $0.94 during October, and November.
When referring to the price in Sioux Falls (cities), there have hardly been any changes in the last 6 months. In our first sample month during June, the average price is $907. In July This price remains at $890. During the following two months (August, September) the price has had an average rise from $898.5 to $992. 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 $945.25 and $922 between October and November.
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 $891 they are 11 % more affordable than the average price for Sioux Falls . The properties with the highest average price have 4 bedrooms, Their price is 53 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,206.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.64 / sq.feet, with an average $0.93 / sq.feet price in Sioux Falls. The properties with the most expensive average prices have 1 bedroom. They are 20 % more expensive than the average followed by properties with 2 bedrooms with a price at $0.87 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $891 it is 5 % more affordable than the average price in Sioux Falls. "" is seen as the second most affordable property type. The most expensive property type is "" followed by "House". At a price of $847 it is 16 % more expensive than the average price.
According to the average area price by sq.feet the most expensive property type is "House with an average cost of $0.94 / sq.feet. "House" at an average price of $0.94 / sq.feet has the highest price and would be directed at more affluent cities.