What is the average rent per square foot for four properties in a monthly market survey?

To determine the average rent per square foot from a market survey of four properties, you would typically calculate the rent per square foot for each property and then find the mean of those values.

In this instance, the answer of $1.68 suggests that after calculating the individual rents per square foot and summing these figures, the total is divided by four, leading to an average of $1.68. This calculation accurately reflects the market dynamics based on the provided data, representing a reasonable average for the properties surveyed.

Additionally, this average indicates a balance between higher and lower rents in the surveyed properties, reflecting a typical market level for similar apartments in that area, making it an informative benchmark for potential renters and leasing professionals. Understanding how to calculate and interpret averages is crucial in performing market surveys effectively, ensuring more accurate assessments of local rental markets.