The rent prices in real estate in West Palm Beach, in the Florida 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 Palm Beach has had a strong fall during the last 6 months. In March, the average price per sq.feet was $5.05. In the following month the price per sq.feet fell to $4.52. The price for the following two months in (May, June) had a considerable fall of 56 with regard to the previous two months. The price per sq.feet has had a considerable fall of 68 % 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 $3.73 to $2.55 during July, and August.
When referring to the price in West Palm Beach (cities), this has fallen in the last 6 months. In our first sample month during March, the average price is $1,728. In April This price remains at $1,677. During the following two months (May, June) the average price fell 93 % 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 $1,645 and $1,658.5 between July and August.
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 $1,692 they are 15 % more affordable than the average price for West Palm Beach . The properties with the highest average price have 4 bedrooms, Their price is 38 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,863.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.29 / sq.feet, with an average $1.75 / sq.feet price in West Palm Beach. The properties with the most expensive average prices have 1 bedroom. They are 12 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.58 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $1,692 it is 8 % more affordable than the average price in West Palm Beach. "Commercial" is seen as the second most affordable property type. The most expensive property type is "Apartment" followed by "Townhouse". At a price of $1,688 it is 12 % 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 $1.64 / sq.feet followed by "Apartment" priced at $1.71 / sq.feet. "Townhouse" is the most expensive type of property with a $60.59 / sq.feet value followed by "Commercial" with an average price of $32 / sq.feet.