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 March, the average price per sq.feet was $30.67. In the following month the price per sq.feet fell considerably to $2. The price for the following two months in (May, June) had a considerable fall of 25 with regard to the previous two months. The price per sq.feet has had a considerable fall of 21 % 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 $10.23 to $2.18 during July, and August.
When referring to the price in West Orange (cities), this has risen considerably in the last 6 months. The average price during our first sample month during March, is $1,217. During April the price went through a considerable rise reaching $2,680. In the following two months the average price has hardly changed with regard to the previous two months from $1,948.5 to $1,960.5. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 158 % during the last two months.
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 $4,179 they are 68 % more affordable than the average price for West Orange . The properties with the lowest average price have 4 bedrooms, Their price is 53 % more affordable than the average. After that we have properties with 2 bedrooms priced at $1,846.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most expensive ones at a cost of $1.75 / sq.feet, with an average $1.62 / sq.feet price in West Orange. The properties with the most expensive average prices have 2 bedrooms. They are 147 % more expensive than the average followed by properties with 1 bedroom with a price at $1.75 / sq.feet.
According to average price per property type in West Orange, "" priced at $1,974 is 53 % lower than the average price ($4,179) in this city.