Property prices for rent in Medicine Hat (Alberta)
The rent prices in real estate in Medicine Hat, in the Alberta region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Medicine Hat has had a strong fall during the last 6 months. In October, the average price per sq.feet was $6.48. In the following month the price per sq.feet rose considerably to $7.88. The price for the following two months in (December, January) fell 87 % with regard to the previous two months. The price per sq.feet has had a considerable fall of 46 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $6.72 to $3.1 during February, and March.
When referring to the price in Medicine Hat (cities), there have hardly been any changes in the last 6 months. In our first sample month during October, the average price is $1,207. In November This price remains at $1,235. In the following two months the average price has hardly changed with regard to the previous two months from $1,221 to $1,196. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $1,208.5 and $1,189.5 between February and March.
The graph displaying the average rent price for bedrooms illustrates that those properties with 4 bedrooms are the most affordable ones. At a price of $1,166 they are 10 % more affordable than the average price for Medicine Hat . The properties with the highest average price have 3 bedrooms, Their price is 34 % more expensive than the average. After that we have properties with 2 bedrooms priced at $1,346.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.81 / sq.feet, with an average $2.04 / sq.feet price in Medicine Hat. The properties with the most expensive average prices have 1 bedroom. They are 77 % more expensive than the average followed by properties with 2 bedrooms with a price at $2.6 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,166 it is 34 % more affordable than the average price in Medicine Hat. "Condo" is seen as the second most affordable property type. The most affordable property is "Commercial" followed by "House". At a price of $1,142 it is 2 % more affordable than the average price.
According to the average cost per sq.feet, the least affordable property would be "Condo" at an average price of $226 / sq.feet followed by "Land" priced at $534 / sq.feet. "House" is the most expensive type of property with a $809 / sq.feet value followed by "Commercial" with an average price of $797 / sq.feet.
