FINDING AVG RENT IN AREA

6 Replies

Hi Guys,

When you are analyzing rent in a particular market/submarket you are considering in investing in to buy a multiunit in how do you know if you're analyzing rent for 1 bed, 2 bed, or 3 bed? You obviously wanna compare apples to apples.

Also, are you using the average rent  or median rent in your analysis?

Thank you,

JM

rentometer is good.  Also just search for a house/rental like you were a renter.  I was analyzing a 4plex last month... and next door was a PM sign... so I called them.  the girl on the phone was very sorry that the units were rented... but was happy to tell me what they were, what the rents were, and how old those leases were.  very helpful.  drive the neighborhood, call the PMs

Originally posted by @Bjorn Ahlblad :

I use 'average' rent. You can get a good basis from Zillow,  Apartments.com, Hotpads, Craigslist. etc. Or call a PM and ask them. It takes no time be a pro!

 yes, but how many bedrooms do you base your average rent on? Thank you.

Originally posted by @Carson Wilcox :

rentometer is good.  Also just search for a house/rental like you were a renter.  I was analyzing a 4plex last month... and next door was a PM sign... so I called them.  the girl on the phone was very sorry that the units were rented... but was happy to tell me what they were, what the rents were, and how old those leases were.  very helpful.  drive the neighborhood, call the PMs

 How any bedrooms do you base your average rent on though?