The average rent price in the Michigan 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 Michigan has risen considerably in the last 6 months. During June, the average price per sq.feet was $1.14. The following month (July) the price had a considerable rise reaching $1.38 per sq.feet. The following two months (August, September) went through a rise of 108 % in the rent price per sq.feet rising from $1.26 to $1.36 per sq.feet. In the last two months, the price has barely changed with regard to the average value for the last 4 months going from an average price per sq.feet of $1.31 to $1.37 during October and November.
When referring to the price in Michigan(region), there have hardly been any changes in the last 6 months. The average rent price in June is $1,331. In July the price rose to $1,419. The average price for the following two months (August, September) rose from $1,375 to $1,469.5. During the last two months the price has gone down 87 % compared to the previous average values going from $1,422.25 a $1,240.5 in October y November.
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 Michigan followed by those with 2 with an average price of $1,327. The most expensive properties have 4 bedrooms. They are 60 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,490.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $1.11 / sq.feet being $1.37 / sq.feet the average for Michigan. The properties with the highest average price are those with 1 bedroom. These are 34 % more expensive than the average followed by those with 2 bedrooms with a price of $1.39 / 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 $1,220 it is 20 % cheaper than the average in Michigan. This is followed by "House" with a cost of $1,096. The most expensive property type is "Commercial" and is 190 % more costly than the average, followed by "Land" with a cost of $1,562.
Based upon the average cost per sq.feet the most affordable property type is "Land with a an average price of $1.22 / sq.feet, followed by "Condo" with a price of $1.5 / sq.feet. "Commercial" with an average price of $5 / sq.feet is the most expensive type of property followed by "House" at a price of $1.54 / sq.feet.