The average rent price in the Tennessee 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 Tennessee has fallen considerably in the last 6 months. During July, the average price per sq.feet was $5.15. The following month (August) the price had a considerable fall reaching $1.16 per sq.feet. The following two months (September, October) went through a considerable fall of 36 % 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 52 %. This has been obtained by comparing the price of $2.15 for the first four months of the sample with regard to the previous 4 months and the price of $1.13 per sq.feet for the last two months (November, December).
When referring to the price in Tennessee(region), there have hardly been any changes in the last 6 months. In the first month sample July the average price is $1,354. In August the price remains at $1,398. In the following two months the average price practically remained the same compared to the previous two going from $1,376 to $1,401. During the last two months the price has gone down 90 % compared to the previous average values going from $1,388.5 a $1,254.5 in November y December.
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 18 % cheaper than the average price in Tennessee followed by those with 2 with an average price of $1,135. The most expensive properties have 4 bedrooms. They are 49 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,356.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $0.83 / sq.feet being $1.15 / sq.feet the average for Tennessee. The properties with the highest average price are those with 1 bedroom. These are 37 % more expensive than the average followed by those with 2 bedrooms with a price of $1.1 / sq.feet.
The graph displaying the average rent price according to the property type shows "House" as the most affordable one. With an average cost of $1,237 it is 22 % cheaper than the average in Tennessee. This is followed by "Office" with a cost of $1,306. The most expensive property type is "" and is 52 % more costly than the average, followed by "Condo" with a cost of $1,464.
Based upon the average cost per sq.feet the most affordable property type is "Condo with a an average price of $0.95 / sq.feet, followed by "Commercial" with a price of $1.16 / sq.feet. "Office" with an average price of $18 / sq.feet is the most expensive type of property followed by "House" at a price of $1.23 / sq.feet.