The average rent price in the Tennessee 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 Tennessee has risen considerably in the last 6 months. During October, the average price per sq.feet was $1.3. The following month (November) the price had a considerable rise reaching $9.22 per sq.feet. In the following two months (December, January) the rent price per sq.feet has increased notably to a 120 %. In the last two months, the price per sq.feet has had a significant rise of 372 %. This has been obtained by comparing the price of $5.78 for the first four months of the sample with regard to the previous 4 months and the price of $21.52 per sq.feet for the last two months (February, March).
When referring to the price in Tennessee(region), there have hardly been any changes in the last 6 months. October has an average price of $1,512. During Novemberthe price had a slight fall till $1,390. In the following two months the average price practically remained the same compared to the previous two going from $1,451 to $1,475. During the last two months the price has gone up 108 % compared to the previous average values going from $1,463 a $1,580.5 in February y March.
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 13 % cheaper than the average price in Tennessee followed by those with 2 with an average price of $1,386. The most expensive properties have 4 bedrooms. They are 37 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,793.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $1.13 / sq.feet being $17.98 / sq.feet the average for Tennessee. The properties with the highest average price are those with 1 bedroom. These are 171 % more expensive than the average followed by those with 2 bedrooms with a price of $26.57 / 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 $1,582 it is 28 % cheaper than the average in Tennessee. This is followed by "Apartment" with a cost of $1,286. The most expensive property type is "Condo" and is 17 % more costly than the average, followed by "Land" with a cost of $1,733.
Based upon the average cost per sq.feet the most affordable property type is "Land with a an average price of $1.25 / sq.feet, followed by "Commercial" with a price of $1.47 / sq.feet. "Condo" with an average price of $119.04 / sq.feet is the most expensive type of property followed by "Townhouse" at a price of $31.31 / sq.feet.