The rent prices in real estate in West Orange, in the New Jersey 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 West Orange has had a strong fall during the last 6 months. In October, the average price per sq.feet was $4.07. In November this price barely changed remaining at $3.97 per sq.feet. The price for the following two months in (December, January) had a considerable fall of 80 with regard to the previous two months. The price per sq.feet has fallen 93 % 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 $3.62 to $3.37 during February, and March.
When referring to the price in West Orange (cities), this has fallen in the last 6 months. In our first sample month during October, the average price is $3,305. In November This price remains at $3,306. During the following two months (December, January) the average price fell 93 % with regard to the previous two months. 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 $3,192.5 to $2,964.5 in February and March.
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 $2,991 they are 14 % more affordable than the average price for West Orange . The properties with the highest average price have 4 bedrooms, Their price is 50 % more expensive than the average. After that we have properties with 3 bedrooms priced at $4,032.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $3.09 / sq.feet, with an average $3.45 / sq.feet price in West Orange. The properties with the most expensive average prices have 3 bedrooms. They are 32 % more expensive than the average followed by properties with 2 bedrooms with a price at $3.37 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $2,991 it is 37 % more affordable than the average price in West Orange. "House" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "House". At a price of $2,755 it is 5 % 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 $3.09 / sq.feet followed by "Condo" priced at $3.64 / sq.feet. "Condo" is the most expensive type of property with a $3.64 / sq.feet value followed by "House" with an average price of $3.09 / sq.feet.