Market Rent Calculator
Calculate estimated market rent by comparing similar properties and adjusting for size, location, and amenities. Free rental analysis tool.
How it works
Market rent is calculated by averaging comparable properties, adjusting for size differences ($/sq ft), applying location premiums/discounts, and adding amenity values. Properties are weighted by proximity and similarity.
Example
Three 1,000 sq ft units renting for $2,000, $2,100, $1,900. Average = $2,000. Your 1,100 sq ft unit with laundry = $2,000 × 1.1 + $100 = $2,300/month.
FAQ
How is market rent determined?
Market rent is determined by analyzing comparable properties in the area and adjusting for differences in size, location, condition, and amenities. The best comparables are within 0.5 miles and rented within the last 6 months.
What makes a good rental comparable?
Good comparables are similar in size (within 20% of square footage), same number of bedrooms/bathrooms, in the same neighborhood, and recently rented (within 6 months). Properties should also have similar condition and amenities.
How much do amenities affect rent?
Premium amenities like in-unit laundry, parking, or updated kitchens can add $50-200+ per month to rent. The exact impact varies by market and tenant demand.
Should I use asking rent or actual rent for comparables?
Use actual rented prices when available, as asking rents may be inflated. Check recently rented properties on MLS, rental sites, or ask local property managers for market data.
How often should I reassess market rent?
Reassess market rent annually before lease renewals, or when considering rent increases. Market conditions can change quickly, especially in volatile rental markets.