Median rental price data is determined by the advertised weekly rent of a property that falls in the middle of rental properties listed over a period. This information aims to provide you further detail on market trends in the area for similar properties to the one you are looking at to help inform your next steps.
To determine in the median, the weekly rental amount of recently leased properties are sorted in value order and the middle value is selected. Therefore, if the rental price of three separate properties were to be $300, $320 and $400 then the median sale price would be $320.
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