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 July, the average price per sq.feet was $1.79. In the following month the price per sq.feet rose considerably to $4.55. The price for the following two months in (September, October) had a considerable fall of 51 with regard to the previous two months. The price per sq.feet has had a considerable fall of 67 % 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 $2.39 to $1.61 during November, and December.
When referring to the price in Tempe (cities), there have hardly been any changes in the last 6 months. In our first sample month during July, the average price is $1,459. In August This price remains at $1,401. During the following two months (September, October) the average price fell 94 % with regard to the previous two months. 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 $1,390.25 and $1,422.5 between November and December.
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 $1,425 they are 19 % more affordable than the average price for Tempe . The properties with the highest average price have 4 bedrooms, Their price is 63 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,008.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.22 / sq.feet, with an average $1.61 / sq.feet price in Tempe. The properties with the most expensive average prices have 1 bedroom. They are 6 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.47 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,425 it is 37 % more affordable than the average price in Tempe. "Office" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Townhouse". At a price of $1,564 it is 27 % 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 $1.36 / sq.feet followed by "House" priced at $1.62 / sq.feet. "Office" is the most expensive type of property with a $18 / sq.feet value followed by "Townhouse" with an average price of $6.49 / sq.feet.