Where are rental statistics pulled from?

1 Reply

Hey BP!

I wanted to dig deeper into the process for rental comps and I honestly couldn't find anything. Where are these comps coming from? I had a vacancy recently on my first home I've purchased as a primary (a few years back prior to having any knowledge of real estate or even that biggerpockets existed) . Property taxes doubled for me since then and I was forced to throw the property on the market for 200 more then what the average home of the same type was going for using rentometer, city-data etc. It got rented surprisingly and quick! I had a week and a half turn over.

Ultimately I began wondering where do people pull this information from? I listed the property, took the listing down after locking in a tenant but I've never reported what i'm receiving in rent, how long it's been on the market, etc. You can pull the information from using a few sites but are these sites tracking how often and what properties are going up and coming down? It was really just a general question and really me just trying to get to know certain areas more in depth.

Excellent question! 

I think Zillow pulls it from current or past listings as I've seen the estimate fluctuate up/down depending on what others have posted their listing.

I like to pull rental comps from MLS as well, and cross reference the zillow number to come up with the market rental price. And I've been looking at Trulia as well.

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