The rent prices in real estate in Van Nuys, in the California 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 Van Nuys has had a strong fall during the last 6 months. In July, the average price per sq.feet was $8.77. In the following month the price per sq.feet fell considerably to $2.54. The price for the following two months in (September, October) had a considerable fall of 43 with regard to the previous two months. The price per sq.feet has had a considerable fall of 60 % 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 $4.03 to $2.4 during November, and December.
When referring to the price in Van Nuys (cities), this has risen in the last 6 months. In our first sample month during July, the average price is $1,997. In August This price remains at $2,007. During the following two months (September, October) the price has had an average rise from $2,002 to $2,203. 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 $2,102.5 and $2,160.5 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 $2,136 they are 22 % more affordable than the average price for Van Nuys . The properties with the highest average price have 4 bedrooms, Their price is 101 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,061.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of $2.19 / sq.feet, with an average $2.37 / sq.feet price in Van Nuys. The properties with the most expensive average prices have 1 bedroom. They are 3 % more expensive than the average followed by properties with 4 bedrooms with a price at $2.28 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $2,136 it is 13 % more affordable than the average price in Van Nuys. "" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Detached House". At a price of $2,511 it is 32 % 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 $2.19 / sq.feet followed by "House" priced at $2.37 / sq.feet. "Detached House" is the most expensive type of property with a $2.48 / sq.feet value followed by "House" with an average price of $2.37 / sq.feet.