The average rent price in the Texas 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 Texas has fallen considerably in the last 6 months. During June, the average price per sq.feet was $4.19. In July the price barely changed remaining at $4.15 per sq.feet. The following two months (August, September) went through a considerable fall of 33 % 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 48 %. This has been obtained by comparing the price of $2.78 for the first four months of the sample with regard to the previous 4 months and the price of $1.35 per sq.feet for the last two months (October, November).
When referring to the price in Texas(region), there have hardly been any changes in the last 6 months. In the first month sample June the average price is $1,354. In July the price remains at $1,334. The average price for the following two months (August, September) rose from $1,344 to $1,481. During the last two months the average price has not gone through any changes and has gone from $1,412.5 to $1,354 during October and November.
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 17 % cheaper than the average price in Texas followed by those with 2 with an average price of $1,350. The most expensive properties have 4 bedrooms. They are 41 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,582.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $0.87 / sq.feet being $1.34 / sq.feet the average for Texas. The properties with the highest average price are those with 1 bedroom. These are 25 % more expensive than the average followed by those with 2 bedrooms with a price of $1.28 / 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 $1,343 it is 8 % cheaper than the average in Texas. This is followed by "Commercial" with a cost of $1,568. The most expensive property type is "Apartment" and is 32 % more costly than the average, followed by "Land" with a cost of $1,742.
Based upon the average cost per sq.feet the most affordable property type is "Land with a an average price of $0.71 / sq.feet, followed by "Condo" with a price of $1.03 / sq.feet. "Apartment" with an average price of $18.59 / sq.feet is the most expensive type of property followed by "Commercial" at a price of $1.47 / sq.feet.