The rent prices in real estate in Tempe, in the Arizona 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 Tempe has had a strong fall during the last 6 months. In April, the average price per sq.feet was $13.62. In the following month the price per sq.feet fell considerably to $4.56. In the following two months the price per sq.feet has practically remained the same, going from $9.09 to $9.38 per sq.feet. The price per sq.feet has had a considerable fall of 16 % 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 $9.23 to $1.48 during August, and September.
When referring to the price in Tempe (cities), this has fallen in the last 6 months. In our first sample month during April, the average price is $1,527. In May This price remains at $1,512. In the following two months the average price has hardly changed with regard to the previous two months from $1,519.5 to $1,458. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 93 %, going from $1,488.75 to $1,391.5 in 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 $1,384 they are 13 % more affordable than the average price for Tempe . The properties with the highest average price have 4 bedrooms, Their price is 48 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,741.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.24 / sq.feet, with an average $1.49 / sq.feet price in Tempe. The properties with the most expensive average prices have 1 bedroom. They are 11 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.41 / sq.feet.
The graph displaying the average rent prices displays the property type "Office" as the most affordable one. At an cost of $1,384 it is 34 % more affordable than the average price in Tempe. "House" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Condo". At a price of $1,639 it is 26 % 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 $1.11 / sq.feet followed by "House" priced at $1.54 / sq.feet. "Townhouse" is the most expensive type of property with a $66 / sq.feet value followed by "Office" with an average price of $9 / sq.feet.