The average rent price in the Hawaii 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 Hawaii has fallen considerably in the last 6 months. During July, the average price per sq.feet was $16.14. The following month (August) the price had a considerable fall reaching $2.42 per sq.feet. The following two months (September, October) went through a considerable fall of 27 % 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 46 %. This has been obtained by comparing the price of $5.87 for the first four months of the sample with regard to the previous 4 months and the price of $2.72 per sq.feet for the last two months (November, December).
When referring to the price in Hawaii(region), this has risen in the last 6 months. The average rent price in July is $2,357. In August the price rose to $2,684. In the following two months the average price practically remained the same compared to the previous two going from $2,520.5 to $2,637.5. During the last two months the average price has not gone through any changes and has gone from $2,579 to $2,516 during November and December.
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 Hawaii followed by those with 2 with an average price of $2,290. The most expensive properties have 4 bedrooms. They are 114 % more expensive than the average followed by those properties with 3 bedrooms priced at $2,904.
Based on the average price per sq.feet those properties with 3 bedrooms are the most affordable ones with a price of $2.12 / sq.feet being $2.67 / sq.feet the average for Hawaii. The properties with the highest average price are those with 1 bedroom. These are 40 % more expensive than the average followed by those with 2 bedrooms with a price of $2.7 / sq.feet.
The graph displaying the average rent price according to the property type shows "Townhouse" as the most affordable one. With an average cost of $2,325 it is 19 % cheaper than the average in Hawaii. This is followed by "" with a cost of $2,067. The most expensive property type is "Condo" and is 2 % more costly than the average, followed by "House" with a cost of $2,251.
Based upon the average cost per sq.feet the most affordable property type is "Condo with a an average price of $2.48 / sq.feet, followed by "Townhouse" with a price of $2.64 / sq.feet. "Commercial" with an average price of $8 / sq.feet is the most expensive type of property followed by "House" at a price of $3.13 / sq.feet.