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 $4.6. In January the price barely changed remaining at $4.67 per sq.feet. In the following two months (February, March) the rent price per sq.feet has increased notably to a 754 %. In the last two months, the price per sq.feet has had a significant fall of 26 %. This has been obtained by comparing the price of $19.79 for the first four months of the sample with regard to the previous 4 months and the price of $5.14 per sq.feet for the last two months (April, May).
When referring to the price in New York(region), this has fallen considerably in the last 6 months. December has an average price of $4,186. During Januarythe price had a slight fall till $3,702. In the following two months the average price has fallen 70 % compared to the previous two. During the last two months the price has gone down 92 % compared to the previous average values going from $3,360.25 a $3,107 in April y May.
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 5 % cheaper than the average price in New York followed by those with 2 with an average price of $3,170. The most expensive properties have 4 bedrooms. They are 195 % more expensive than the average followed by those properties with 3 bedrooms priced at $3,892.
Based on the average price per sq.feet those properties with 2 bedrooms are the most affordable ones with a price of $3.22 / sq.feet being $3.98 / sq.feet the average for New York. The properties with the highest average price are those with 3 bedrooms. These are 51 % more expensive than the average followed by those with 4 bedrooms with a price of $5.87 / 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 $3,007 it is 26 % cheaper than the average in New York. This is followed by "House" with a cost of $2,502. The most expensive property type is "" and is 11 % more costly than the average, followed by "Townhouse" with a cost of $2,847.
Based upon the average cost per sq.feet the most affordable property type is "Apartment with a an average price of $2.16 / sq.feet, followed by "Condo" with a price of $3.66 / sq.feet. "Townhouse" with an average price of $49.18 / sq.feet is the most expensive type of property followed by "House" at a price of $5.43 / sq.feet.