The average rent price in the Minnesota 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 Minnesota has fallen considerably in the last 6 months. During July, the average price per sq.feet was $8.04. The following month (August) the price had a considerable fall reaching $1.47 per sq.feet. The following two months (September, October) went through a considerable fall of 33 % 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 42 %. This has been obtained by comparing the price of $3.16 for the first four months of the sample with regard to the previous 4 months and the price of $1.35 per sq.feet for the last two months (November, December).
When referring to the price in Minnesota(region), this has risen in the last 6 months. In the first month sample July the average price is $1,318. In August the price remains at $1,371. The average price for the following two months (September, October) rose from $1,344.5 to $1,525.5. During the last two months the price has gone down 94 % compared to the previous average values going from $1,435 a $1,353 in November y 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 17 % cheaper than the average price in Minnesota followed by those with 2 with an average price of $1,301. The most expensive properties have 4 bedrooms. They are 44 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,612.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $1.02 / sq.feet being $1.31 / sq.feet the average for Minnesota. The properties with the highest average price are those with 1 bedroom. These are 28 % more expensive than the average followed by those with 2 bedrooms with a price of $1.33 / sq.feet.
The graph displaying the average rent price according to the property type shows "House" as the most affordable one. With an average cost of $1,405 it is 16 % cheaper than the average in Minnesota. This is followed by "Condo" with a cost of $1,788. The most expensive property type is "" and is 37 % more costly than the average, followed by "Condo" with a cost of $1,788.
Based upon the average cost per sq.feet the most affordable property type is "Condo with a an average price of $1.05 / sq.feet, followed by "House" with a price of $1.56 / sq.feet. "House" with an average price of $1.56 / sq.feet is the most expensive type of property followed by "Condo" at a price of $1.05 / sq.feet.