The rent prices in real estate in Spokane, in the Washington 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 Spokane has had a strong fall during the last 6 months. In May, the average price per sq.feet was $2.71. In the following month the price per sq.feet rose considerably to $3.38. The price for the following two months in (July, August) had a considerable fall of 70 with regard to the previous two months. The price per sq.feet has had a considerable fall of 41 % 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 $2.59 to $1.07 during September, and October.
When referring to the price in Spokane (cities), there have hardly been any changes in the last 6 months. The rent price in May is $1,142, rising in June till $1,231. In the following two months the average price has hardly changed with regard to the previous two months from $1,186.5 to $1,167. 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 $1,176.75 and $1,125.5 between September and October.
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 $1,132 they are 21 % more affordable than the average price for Spokane . The properties with the highest average price have 4 bedrooms, Their price is 54 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,414.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.82 / sq.feet, with an average $1.06 / sq.feet price in Spokane. The properties with the most expensive average prices have 1 bedroom. They are 25 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.09 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $1,132 it is 10 % more affordable than the average price in Spokane. "Townhouse" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Office". At a price of $1,336 it is 30 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Commercial" at an average price of $0.92 / sq.feet followed by "Townhouse" priced at $1 / sq.feet. "Office" is the most expensive type of property with a $1.26 / sq.feet value followed by "House" with an average price of $1.13 / sq.feet.