The average rent price in the Massachusetts region has had an strong rise in recent months. There has been a strong rise in the rent prices in this region.
The price per sq.feet in Massachusetts has risen considerably in the last 6 months. During January, the average price per sq.feet was $3.24. The following month (February) the price had a considerable rise reaching $19.98 per sq.feet. In the following two months (March, April) the rent price per sq.feet has increased notably to a 148 %. In the last two months, the price per sq.feet has had a significant rise of 199 %. This has been obtained by comparing the price of $14.39 for the first four months of the sample with regard to the previous 4 months and the price of $28.68 per sq.feet for the last two months (May, June).
When referring to the price in Massachusetts(region), there have hardly been any changes in the last 6 months. The average rent price in January is $2,861. In February the price rose to $3,043. In the following two months the average price practically remained the same compared to the previous two going from $2,952 to $3,086.5. During the last two months the average price has not gone through any changes and has gone from $3,019.25 to $2,891 during May and June.
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 5 % cheaper than the average price in Massachusetts followed by those with 2 with an average price of $3,007. The most expensive properties have 4 bedrooms. They are 35 % more expensive than the average followed by those properties with 3 bedrooms priced at $3,474.
Based on the average price per sq.feet those properties with 2 bedrooms are the most affordable ones with a price of $3.32 / sq.feet being $3.62 / sq.feet the average for Massachusetts. The properties with the highest average price are those with 4 bedrooms. These are 578 % more expensive than the average followed by those with 3 bedrooms with a price of $18.77 / 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 $2,820 it is 56 % cheaper than the average in Massachusetts. This is followed by "Apartment" with a cost of $2,046. The most expensive property type is "Land" and is 19 % more costly than the average, followed by "Commercial" with a cost of $3,093.
Based upon the average cost per sq.feet the most affordable property type is "Apartment with a an average price of $1.77 / sq.feet, followed by "Commercial" with a price of $2.46 / sq.feet. "House" with an average price of $44.48 / sq.feet is the most expensive type of property followed by "Land" at a price of $4.32 / sq.feet.