The average rent price in the Rhode Island 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 Rhode Island has risen considerably in the last 6 months. During August, the average price per sq.feet was $1.44. In September the price barely changed remaining at $1.5 per sq.feet. The following two months (October, November) went through a rise of 110 % in the rent price per sq.feet rising from $1.47 to $1.61 per sq.feet. In the last two months, the price per sq.feet has had a significant rise of 120 %. This has been obtained by comparing the price of $1.54 for the first four months of the sample with regard to the previous 4 months and the price of $1.86 per sq.feet for the last two months (December, January).
When referring to the price in Rhode Island (region), this has fallen in the last 6 months. In the first month sample August the average price is $1,869. In September the price remains at $1,905. The average price for the following two months (October, November) fell 92 % compared to the previous two. During the last two months the price has gone down 93 % compared to the previous average values going from $1,811 a $1,677 in December y January.
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 21 % cheaper than the average price in Rhode Island followed by those with 2 with an average price of $1,598. The most expensive properties have 4 bedrooms. They are 57 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,915.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $1.34 / sq.feet being $1.83 / sq.feet the average for Rhode Island. The properties with the highest average price are those with 1 bedroom. These are 46 % more expensive than the average followed by those with 2 bedrooms with a price of $1.67 / sq.feet.
The graph displaying the average rent price according to the property type shows "" as the most affordable one. With an average cost of $1,625 it is 36 % cheaper than the average in Rhode Island. This is followed by "Commercial" with a cost of $1,346. The most expensive property type is "Condo" and is 19 % more costly than the average, followed by "Townhouse" with a cost of $1,793.
Based upon the average cost per sq.feet the most affordable property type is "Commercial with a an average price of $1 / sq.feet, followed by "Condo" with a price of $1.41 / sq.feet. "Townhouse" with an average price of $65 / sq.feet is the most expensive type of property followed by "House" at a price of $2.34 / sq.feet.