The rent prices in real estate in Tempe, in the Arizona 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 Tempe has risen strongly during the last 6 months. In December, the average price per sq.feet was $1.61. In January this price barely changed remaining at $1.63 per sq.feet. The price for the following two months in (February, March) had a considerable rise of 168 %. The price per sq.feet has had a considerable fall of 81 % 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 $2.17 to $1.76 during April, and May.
When referring to the price in Tempe (cities), this has risen in the last 6 months. In our first sample month during December, the average price is $1,425. In January This price remains at $1,418. In the following two months the average price has hardly changed with regard to the previous two months from $1,421.5 to $1,468. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 122 % 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 $1,746 they are 18 % more affordable than the average price for Tempe . The properties with the highest average price have 4 bedrooms, Their price is 56 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,185.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.46 / sq.feet, with an average $1.79 / sq.feet price in Tempe. The properties with the most expensive average prices have 1 bedroom. They are 13 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.69 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,746 it is 49 % more affordable than the average price in Tempe. "Office" is seen as the second most affordable property type. The most expensive property type is "Apartment" followed by "Townhouse". At a price of $2,367 it is 60 % 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 $1.19 / sq.feet followed by "Townhouse" priced at $1.54 / sq.feet. "Apartment" is the most expensive type of property with a $185 / sq.feet value followed by "Office" with an average price of $13 / sq.feet.