The rent prices in real estate in Troy, in the Michigan 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 Troy has risen strongly during the last 6 months. In May, the average price per sq.feet was $1.39. In June this price barely changed remaining at $1.4 per sq.feet. The price for the following two months in (July, August) had a considerable rise of 3206 %. The price per sq.feet has had a considerable rise of 140 % 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 $23.06 to $32.36 during September, and October.
When referring to the price in Troy (cities), there have hardly been any changes in the last 6 months. In our first sample month during May, the average price is $1,903. In June This price remains at $1,952. In the following two months the average price has hardly changed with regard to the previous two months from $1,927.5 to $1,967. 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 $1,947.25 and $1,955 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 $1,850 they are 5 % more affordable than the average price for Troy . The properties with the highest average price have 3 bedrooms, Their price is 28 % more expensive than the average. After that we have properties with 4 bedrooms priced at $2,340.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.1 / sq.feet, with an average $25.92 / sq.feet price in Troy. The properties with the most affordable average prices have 1 bedroom. They are 12 % more affordable than the average followed by properties with 2 bedrooms with a price at $16.19 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $1,850 it is 3 % more affordable than the average price in Troy. "Apartment" is seen as the second most affordable property type. The most expensive property type is "" followed by "Condo". At a price of $2,040 it is 15 % 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 $1.22 / sq.feet followed by "Condo" priced at $8.27 / sq.feet. "Apartment" is the most expensive type of property with a $65.99 / sq.feet value followed by "Condo" with an average price of $8.27 / sq.feet.