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 February, the average price per sq.feet was $25.07. The following month (March) the price had a considerable fall reaching $17.98 per sq.feet. The following two months (April, May) went through a considerable fall of 21 % 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 10 %. This has been obtained by comparing the price of $12.99 for the first four months of the sample with regard to the previous 4 months and the price of $1.3 per sq.feet for the last two months (June, July).
When referring to the price in Tennessee(region), there have hardly been any changes in the last 6 months. In the first month sample February the average price is $1,579. In March the price remains at $1,582. In the following two months the average price practically remained the same compared to the previous two going from $1,580.5 to $1,508. During the last two months the average price has not gone through any changes and has gone from $1,544.25 to $1,506 during June and July.
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 20 % cheaper than the average price in Tennessee followed by those with 2 with an average price of $1,416. The most expensive properties have 4 bedrooms. They are 52 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,805.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $1.09 / sq.feet being $1.29 / sq.feet the average for Tennessee. The properties with the highest average price are those with 1 bedroom. These are 39 % more expensive than the average followed by those with 2 bedrooms with a price of $1.32 / 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 $1,568 it is 22 % cheaper than the average in Tennessee. This is followed by "House" with a cost of $1,380. The most expensive property type is "Commercial" and is 41 % more costly than the average, followed by "Condo" with a cost of $1,739.
Based upon the average cost per sq.feet the most affordable property type is "Condo with a an average price of $1.14 / sq.feet, followed by "Land" with a price of $1.36 / sq.feet. "House" with an average price of $1.47 / sq.feet is the most expensive type of property followed by "Commercial" at a price of $1.43 / sq.feet.