The average rent price in the New Jersey 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 New Jersey has risen considerably in the last 6 months. During April, the average price per sq.feet was $2.39. The following month (May) the price had a considerable rise reaching $54.47 per sq.feet. The following two months (June, July) went through a considerable fall of 39 % 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 25 %. This has been obtained by comparing the price of $19.71 for the first four months of the sample with regard to the previous 4 months and the price of $4.91 per sq.feet for the last two months (August, September).
When referring to the price in New Jersey(region), there have hardly been any changes in the last 6 months. April has an average price of $2,103. During Maythe price had a slight fall till $1,966. The average price for the following two months (June, July) rose from $2,034.5 to $2,190.5. During the last two months the price has gone up 109 % compared to the previous average values going from $2,112.5 a $2,312.5 in August y September.
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 13 % cheaper than the average price in New Jersey followed by those with 2 with an average price of $2,395. The most expensive properties have 4 bedrooms. They are 41 % more expensive than the average followed by those properties with 3 bedrooms priced at $2,589.
Based on the average price per sq.feet those properties with 2 bedrooms are the most expensive ones with a price of $2.41 / sq.feet being $2.37 / sq.feet the average for New Jersey. The properties with the highest average price are those with 4 bedrooms. These are 529 % more expensive than the average followed by those with 3 bedrooms with a price of $3.06 / sq.feet.
The graph displaying the average rent price according to the property type shows "Apartment" as the most affordable one. With an average cost of $2,270 it is 27 % cheaper than the average in New Jersey. This is followed by "Commercial" with a cost of $1,857. The most expensive property type is "Condo" and is 7 % more costly than the average, followed by "House" with a cost of $2,145.
Based upon the average cost per sq.feet the most affordable property type is "Land with a an average price of $2.35 / sq.feet, followed by "House" with a price of $2.59 / sq.feet. "Commercial" with an average price of $102.58 / sq.feet is the most expensive type of property followed by "Condo" at a price of $78.01 / sq.feet.