The average rent price in the Massachusetts 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 Massachusetts has fallen considerably in the last 6 months. During August, the average price per sq.feet was $7.27. The following month (September) the price had a considerable fall reaching $3.06 per sq.feet. The following two months (October, November) went through a considerable fall of 56 % 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 68 %. This has been obtained by comparing the price of $4.03 for the first four months of the sample with regard to the previous 4 months and the price of $2.74 per sq.feet for the last two months (December, January).
When referring to the price in Massachusetts(region), there have hardly been any changes in the last 6 months. In the first month sample August the average price is $2,475. In September the price remains at $2,568. In the following two months the average price practically remained the same compared to the previous two going from $2,521.5 to $2,509.5. During the last two months the average price has not gone through any changes and has gone from $2,515.5 to $2,468.5 during December and January.
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 10 % cheaper than the average price in Massachusetts followed by those with 2 with an average price of $2,601. The most expensive properties have 4 bedrooms. They are 58 % more expensive than the average followed by those properties with 3 bedrooms priced at $2,894.
Based on the average price per sq.feet those properties with 3 bedrooms are the most affordable ones with a price of $2.32 / sq.feet being $2.86 / sq.feet the average for Massachusetts. The properties with the highest average price are those with 1 bedroom. These are 11 % more expensive than the average followed by those with 2 bedrooms with a price of $2.62 / 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 $2,465 it is 17 % cheaper than the average in Massachusetts. This is followed by "House" with a cost of $2,384. The most expensive property type is "Townhouse" and is 19 % more costly than the average, followed by "Condo" with a cost of $2,414.
Based upon the average cost per sq.feet the most affordable property type is "Townhouse with a an average price of $2.69 / sq.feet, followed by "Condo" with a price of $2.7 / sq.feet. "House" with an average price of $3.21 / sq.feet is the most expensive type of property followed by "Condo" at a price of $2.7 / sq.feet.