The rent prices in real estate in State College, in the Pennsylvania 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 State College has had a strong fall during the last 6 months. In April, the average price per sq.feet was $5.22. In the following month the price per sq.feet fell considerably to $3.64. The price for the following two months in (June, July) had a considerable rise of 149 %. The price per sq.feet has had a considerable fall of 38 % 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 $5.52 to $2.09 during August, and September.
When referring to the price in State College (cities), there have hardly been any changes in the last 6 months. In our first sample month during April, the average price is $1,201. In May This price remains at $1,194. In the following two months the average price has hardly changed with regard to the previous two months from $1,197.5 to $1,242. 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 $1,219.75 and $1,202 between August and September.
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 $1,220 they are 24 % more affordable than the average price for State College . The properties with the highest average price have 3 bedrooms, Their price is 20 % more expensive than the average. After that we have properties with 4 bedrooms priced at $1,344.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.84 / sq.feet, with an average $2.43 / sq.feet price in State College. The properties with the most expensive average prices have 1 bedroom. They are 785 % more expensive than the average followed by properties with 2 bedrooms with a price at $3.35 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $1,220 it is 8 % more affordable than the average price in State College. "" is seen as the second most affordable property type. The most expensive property type is "House" followed by "". At a price of $1,291 it is 34 % 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 $1.04 / sq.feet followed by "Apartment" priced at $5.57 / sq.feet. "Apartment" is the most expensive type of property with a $5.57 / sq.feet value followed by "House" with an average price of $1.04 / sq.feet.