The average rent price in the Alabama region has had a strong fall in recent months. There has been a strong fall in the rent prices in this region.
The price per sq.feet in Alabama has fallen considerably in the last 6 months. During May, the average price per sq.feet was $4.92. The following month (June) the price had a considerable fall reaching $2.76 per sq.feet. The following two months (July, August) went through a considerable fall of 46 % in the rent price per sq.feet with regard to the previous two. In the last two months, the price per sq.feet has had a significant fall of 31 %. This has been obtained by comparing the price of $2.8 for the first four months of the sample with regard to the previous 4 months and the price of $0.88 per sq.feet for the last two months (September, October).
When referring to the price in Alabama(region), this has risen in the last 6 months. In the first month sample for May the average price is $976. During June it went through a strong rise reaching $1,200 The average price for the following two months (July, August) fell 93 % compared to the previous two. During the last two months the average price has not gone through any changes and has gone from $1,050.75 to $1,059.5 during September and October.
The graph displaying the the average rent price per number of bedrooms shows that those with 1 bedroom are the most affordable ones. They are 14 % cheaper than the average price in Alabama followed by those with 2 with an average price of $963. The most expensive properties have 4 bedrooms. They are 43 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,084.
Based on the average price per sq.feet those properties with 3 bedrooms are the most affordable ones with a price of $0.77 / sq.feet being $0.86 / sq.feet the average for Alabama. The properties with the highest average price are those with 1 bedroom. These are 42 % more expensive than the average followed by those with 2 bedrooms with a price of $0.91 / sq.feet.
The graph displaying the average rent price according to the property type shows "House" as the most affordable one. With an average cost of $1,020 it is 8 % cheaper than the average in Alabama. This is followed by "Office" with a cost of $995. The most expensive property type is "Commercial" and is 89 % more costly than the average, followed by "Condo" with a cost of $1,106.
Based upon the average cost per sq.feet the most affordable property type is "Commercial with a an average price of $0.74 / sq.feet, followed by "Condo" with a price of $0.75 / sq.feet. "Office" with an average price of $1.07 / sq.feet is the most expensive type of property followed by "House" at a price of $0.92 / sq.feet.