The average rent price in the California 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 California has fallen considerably in the last 6 months. During December, the average price per sq.feet was $57.24. The following month (January) the price rose to $61.91 per sq.feet. The following two months (February, March) went through a considerable fall of 4 % 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 16 %. This has been obtained by comparing the price of $30.93 for the first four months of the sample with regard to the previous 4 months and the price of $4.9 per sq.feet for the last two months (April, May).
When referring to the price in California(region), there have hardly been any changes in the last 6 months. The average rent price in December is $2,374. In January the price rose to $2,607. The average price for the following two months (February, March) fell 88 % compared to the previous two. During the last two months the average price has not gone through any changes and has gone from $2,339.75 to $2,261 during April and May.
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 15 % cheaper than the average price in California followed by those with 2 with an average price of $2,748. The most expensive properties have 4 bedrooms. They are 57 % more expensive than the average followed by those properties with 3 bedrooms priced at $3,096.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $2.94 / sq.feet being $5.81 / sq.feet the average for California. The properties with the highest average price are those with 1 bedroom. These are 83 % more expensive than the average followed by those with 2 bedrooms with a price of $8.35 / sq.feet.
The graph displaying the average rent price according to the property type shows "Detached House" as the most affordable one. With an average cost of $2,512 it is 33 % cheaper than the average in California. This is followed by "House" with a cost of $2,212. The most expensive property type is "Land" and is 50 % more costly than the average, followed by "Condo" with a cost of $2,939.
Based upon the average cost per sq.feet the most affordable property type is "Condo with a an average price of $2.8 / sq.feet, followed by "Townhouse" with a price of $2.87 / sq.feet. "Land" with an average price of $189.9 / sq.feet is the most expensive type of property followed by "Detached House" at a price of $16.49 / sq.feet.