The average rent price in the Colorado 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 Colorado has fallen considerably in the last 6 months. During December, the average price per sq.feet was $6.06. The following month (January) the price had a considerable fall reaching $1.87 per sq.feet. The following two months (February, March) went through a considerable fall of 67 % 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 62 %. This has been obtained by comparing the price of $3.32 for the first four months of the sample with regard to the previous 4 months and the price of $2.05 per sq.feet for the last two months (April, May).
When referring to the price in Colorado(region), there have hardly been any changes in the last 6 months. In the first month sample December the average price is $1,674. In January the price remains at $1,729. In the following two months the average price practically remained the same compared to the previous two going from $1,701.5 to $1,690.5. During the last two months the average price has not gone through any changes and has gone from $1,696 to $1,753 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 14 % cheaper than the average price in Colorado followed by those with 2 with an average price of $1,901. The most expensive properties have 4 bedrooms. They are 87 % more expensive than the average followed by those properties with 3 bedrooms priced at $2,445.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $1.43 / sq.feet being $2.01 / sq.feet the average for Colorado. The properties with the highest average price are those with 1 bedroom. These are 8 % more expensive than the average followed by those with 2 bedrooms with a price of $1.83 / sq.feet.
The graph displaying the average rent price according to the property type shows "" as the most affordable one. With an average cost of $1,806 it is 14 % cheaper than the average in Colorado. This is followed by "House" with a cost of $1,567. The most expensive property type is "Duplex" and is 352 % more costly than the average, followed by "Condo" with a cost of $2,108.
Based upon the average cost per sq.feet the most affordable property type is "Townhouse with a an average price of $1.76 / sq.feet, followed by "Land" with a price of $1.81 / sq.feet. "House" with an average price of $2.02 / sq.feet is the most expensive type of property followed by "Duplex" at a price of $2 / sq.feet.