The average rent price in the New York 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 York has risen considerably in the last 6 months. During December, the average price per sq.feet was $3.33. The following month (January) the price had a considerable rise reaching $6.45 per sq.feet. In the following two months (February, March) the rent price per sq.feet has increased notably to a 918 %. In the last two months, the price per sq.feet has had a significant rise of 148 %. This has been obtained by comparing the price of $24.9 for the first four months of the sample with regard to the previous 4 months and the price of $36.79 per sq.feet for the last two months (April, May).
When referring to the price in New York(region), this has risen considerably in the last 6 months. The average rent price in December is $2,503. In January the price rose to $2,754. The price in the following months (February, March) had a strong rise of 117 % going from $2,628.5 to $3,065.5. During the last two months the price has had a considerable rise of 124 % with respect to the previous four months going from $2,847 a $3,535.5.
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 23 % cheaper than the average price in New York followed by those with 2 with an average price of $3,439. The most expensive properties have 4 bedrooms. They are 513 % more expensive than the average followed by those properties with 3 bedrooms priced at $9,193.
Based on the average price per sq.feet those properties with 2 bedrooms are the most affordable ones with a price of $29.59 / sq.feet being $43.87 / sq.feet the average for New York. The properties with the lowest average price are those with 3 bedrooms. These are 9 % more affordable than the average followed by those with 1 bedroom with a price of $37.7 / sq.feet.
The graph displaying the average rent price according to the property type shows "Condo" as the most affordable one. With an average cost of $3,829 it is 33 % cheaper than the average in New York. This is followed by "Land" with a cost of $2,877. The most expensive property type is "Commercial" and is 43 % more costly than the average, followed by "Apartment" with a cost of $4,140.
Based upon the average cost per sq.feet the most affordable property type is "Land with a an average price of $3 / sq.feet, followed by "Condo" with a price of $4.33 / sq.feet. "Townhouse" with an average price of $104.11 / sq.feet is the most expensive type of property followed by "House" at a price of $63.59 / sq.feet.