The average rent price in the Arizona 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 Arizona has fallen considerably in the last 6 months. During November, the average price per sq.feet was $46.28. In December the price barely changed remaining at $45.72 per sq.feet. The following two months (January, February) went through a considerable fall of 55 % 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 18 %. This has been obtained by comparing the price of $35.54 for the first four months of the sample with regard to the previous 4 months and the price of $6.41 per sq.feet for the last two months (March, April).
When referring to the price in Arizona(region), this has risen in the last 6 months. In the first month sample November the average price is $1,161. In December the price remains at $1,214. In the following two months the average price practically remained the same compared to the previous two going from $1,187.5 to $1,225.5. During the last two months the price has gone up 112 % compared to the previous average values going from $1,206.5 a $1,353 in March y April.
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 19 % cheaper than the average price in Arizona followed by those with 2 with an average price of $1,332. The most expensive properties have 4 bedrooms. They are 34 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,505.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $3.48 / sq.feet being $6.67 / sq.feet the average for Arizona. The properties with the highest average price are those with 1 bedroom. These are 32 % more expensive than the average followed by those with 2 bedrooms with a price of $8.07 / 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 $1,336 it is 18 % cheaper than the average in Arizona. This is followed by "Apartment" with a cost of $1,115. The most expensive property type is "Commercial" and is 76 % more costly than the average, followed by "Condo" with a cost of $1,586.
Based upon the average cost per sq.feet the most affordable property type is "Duplex with a an average price of $1.28 / sq.feet, followed by "Condo" with a price of $2.84 / sq.feet. "Commercial" with an average price of $155.85 / sq.feet is the most expensive type of property followed by "Apartment" at a price of $10.57 / sq.feet.