The average rent price in the Maryland 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 Maryland has fallen considerably in the last 6 months. During November, the average price per sq.feet was $2.76. In December the price barely changed remaining at $2.83 per sq.feet. The following two months (January, February) went through a considerable fall of 61 % 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 82 %. This has been obtained by comparing the price of $2.25 for the first four months of the sample with regard to the previous 4 months and the price of $1.85 per sq.feet for the last two months (March, April).
When referring to the price in Maryland (region), this has fallen in the last 6 months. November has an average price of $1,704. During Decemberthe price had a slight fall till $1,581. In the following two months the average price practically remained the same compared to the previous two going from $1,642.5 to $1,595. During the last two months the average price has not gone through any changes and has gone from $1,618.75 to $1,590.5 during March and April.
The graph displaying the the average rent price per number of bedrooms shows that those with 1 bedroom are the most expensive ones. They are 3 % more costly than the average price in Maryland followed by those properties with 2 with an average price of $1,765. The most expensive properties have 4 bedrooms. They are 37 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,874.
Based on the average price per sq.feet those properties with 2 bedrooms are the most affordable ones with a price of $1.7 / sq.feet being $1.83 / sq.feet the average for Maryland. The properties with the highest average price are those with 3 bedrooms. These are 187 % more expensive than the average followed by those with 4 bedrooms with a price of $4.61 / 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 $1,558 it is 8 % cheaper than the average in Maryland. This is followed by "Villa" with a cost of $1,473. The most expensive property type is "Condo" and is 21 % more costly than the average, followed by "Apartment" with a cost of $1,870.
Based upon the average cost per sq.feet the most affordable property type is "Townhouse with a an average price of $1.32 / sq.feet, followed by "House" with a price of $1.88 / sq.feet. "Apartment" with an average price of $71.77 / sq.feet is the most expensive type of property followed by "Villa" at a price of $18.04 / sq.feet.