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Quickly evaluate current rents with QuickView™ Rent Estimates
How to Get an Accurate Rent Estimate in Seconds with Rentometer
Not sure if your rent price is spot on or way off? Rentometer gives you a fast, reliable way to check rent estimates to make sure your numbers make sense. Whether you’re a landlord, investor, or property manager, it’s a simple tool that helps you stay competitive and avoid costly guesswork. In this quick guide, we’ll show you how to use Rentometer to generate quick rent estimates so you can run the numbers with confidence.
Step 1: Enter Property Details
To begin, visit Rentometer.com and sign in to your account. If you don’t have one yet, signing up is quick and easy. Once logged in, follow these steps to generate your rent estimate:
- Enter the property address
- Select the number of bedrooms
- Click "Check Rents"
💡 Tip: Start with a broad search before applying filters (see Step #3). This gives you a clearer view of comparable listings in your area. Adding too many filters too soon can limit results and reduce the accuracy of your rent estimate.
Rentometer will instantly pull data from its extensive database of millions of rental records, providing a hyperlocal rent estimate based on the most relevant nearby comps.
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Step 2: Understanding Your Rent Estimate Results
Rentometer provides a detailed breakdown of your rent estimate, including:
- Average Rent: The mean rent price for the selected comparable properties in your area.
- Median Rent: The midpoint rent price, where half of the comps are priced above and half below.
- 25th Percentile Rent: Represents the lower end of the market—25% of rentals are below this value.
- 75th Percentile Rent: Reflects the higher end—75% of rentals are priced below this value.
Additionally, Rentometer offers contextual insights to enhance your understanding of your rent estimate and the local rental market:
- Number of Comparables: The total number of similar properties used to generate your estimate.
- Radius: The search radius Rentometer used to find comparable rentals.
- Neighborhood Rent Estimate: Quickly view rents for the entire neighborhood with a single click.
Map View of Comparable Properties
To the right of the rent estimate, you'll see a color-coded map displaying comparable properties:
- Orange Pin: Your subject property
- Green Pins: Lower-end rental prices
- Blue Pins: Mid-range rental prices
- Red Pins: Higher-end rental prices
This color-coded map helps you visually compare your property to others in the area and see where your rent estimate falls relative to the competition.
Step 3. Refining Your Results with Filters
To fine-tune your rent estimate, Rentometer allows you to apply additional filters.
💡Tip: We recommend adding one filter at a time and monitoring how many rent comps are included in the analysis. Applying too many filters at once can narrow your results. If you see plenty of comps in your rent estimate results, feel free to add more filters to further refine your search.
To add or update filters, click the "Edit QuickView" button at the top of the screen to modify:
- Rent: If you have the current rent price for your property, you can enter it and Rentometer will display it on a meter that compares your price against the average, 25th percentile, and 75th percentile rents in your market. This is optional.
- Beds: If you want to see how rent prices compare for units with different bedroom counts, you can update the number of beds here.
- Baths: Adjust to how many bathrooms your subject property has. The default input is "All" which includes units with 1 or more bathrooms.
- Look Back: Choose a time frame from within 48 months to analyze rent trends over different periods.
- Radius: Control how far Rentometer looks for comparable data from your property. By default, our Smart Radius™ filter is applied, selecting the optimal radius based on the number of available comps. However, you can adjust this radius to refine your results, but be aware that choosing a smaller area than the one set by Smart Radius will likely result in fewer comps.
- Building Type: Select whether the property is an apartment or a house.
- Min. / Max. Price: Narrow results based on rent price.
- Min. / Max. Sqft: Narrow results based on property size.
- Report Branding: Customize your Pro Report by adding your logo and contact information.
Once you’ve adjusted the filters, click "Check Rents" again to update your rent estimate based on the new criteria.
Step 4. Optional: Dive Deeper into Your Rental Market
For a more comprehensive rent analysis, Rentometer offers a Pro Report, which includes:
- Rent Analysis Summary: A deep dive into your local rental market, including historical rent data.
- Interactive Map of Rent Comps: An interactive map with detailed comparable properties.
- Property Reports: In-depth property reports for each comp.
- Public Record Data: Access to public records for your property and nearby comps.
To access the Pro Report, click the green "View Pro Report" button shown below.
For those who prefer analyzing data in spreadsheets, Rentometer lets you download rent comparison data into a CSV file—simply click the "Download Comps" button shown below..
Conclusion
Whether you’re analyzing a deal, filling a vacancy, or planning a rent increase, Rentometer gives you quick, reliable rent estimates to guide your decisions. With just a few steps, you can tap into Rentometer’s data-driven insights to confidently set competitive rents that attract tenants and boost your returns.
Keep in mind: accurate rent estimates depend on key factors like location, property features, and current market trends. By checking rent prices regularly, you’ll stay ahead in a constantly shifting market.
Ready to maximize your rental’s potential? Get started with Rentometer today!
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