The average rent price in the New York 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 New York has fallen considerably in the last 6 months. During April, the average price per sq.feet was $13.69. The following month (May) the price had a considerable fall reaching $3.54 per sq.feet. The following two months (June, July) went through a considerable fall of 45 % 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 81 %. This has been obtained by comparing the price of $6.25 for the first four months of the sample with regard to the previous 4 months and the price of $5.07 per sq.feet for the last two months (August, September).
When referring to the price in New York(region), this has risen considerably in the last 6 months. In the first month sample for April the average price is $3,253. During May it went through a strong rise reaching $3,753 The price in the following months (June, July) had a strong rise of 127 % going from $3,503 to $4,456. During the last two months the price has had a considerable rise of 133 % with respect to the previous four months going from $3,979.5 a $5,274.
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 29 % cheaper than the average price in New York followed by those with 2 with an average price of $5,348. The most expensive properties have 4 bedrooms. They are 90 % more expensive than the average followed by those properties with 3 bedrooms priced at $6,434.
Based on the average price per sq.feet those properties with 3 bedrooms are the most expensive ones with a price of $5.12 / sq.feet being $4.88 / sq.feet the average for New York. The properties with the highest average price are those with 1 bedroom. These are 14 % more expensive than the average followed by those with 4 bedrooms with a price of $5.48 / sq.feet.
The graph displaying the average rent price according to the property type shows "Townhouse" as the most affordable one. With an average cost of $5,308 it is 40 % cheaper than the average in New York. This is followed by "House" with a cost of $5,040. The most expensive property type is "Apartment" and is 127 % more costly than the average, followed by "Condo" with a cost of $9,541.
Based upon the average cost per sq.feet the most expensive property type is "Apartment with a an average price of $5.32 / sq.feet, followed by "Condo" with a price of $5.4 / sq.feet. "House" with an average price of $7.27 / sq.feet is the most expensive type of property followed by "Land" at a price of $7.11 / sq.feet.