Rent per square foot???

Question

This might be common knowledge but is there an average rent per square foot for single family that I could assume for quick estimates while looking for deals? Example 3-2 single family 1450 square feet. Is it $1/foot? $1.50/foot?  I'm in Ohio so I know LA and NYC would be way different.

Kerlous Tadres · Answer

Square footage isn't always the best thing to look at. A lot of things differ property values such as the area, neighborhood, layout, etc.

Ben Fernandez · Answer

No. There are too many variables to use a specific metric across an entire metro.

For example; school district, historic district, number of bathrooms, location, AC vs no AC, furnished vs not furnished, laundry, parking, condition, amenities etc. All of these variances can all make up the average SF you're referring to. But, it will not be applicable to your specific property.

Use the appropriate rent comps and your property's specifics to equate your potential rate.

Jimmy Lieu · Answer

Hi Andrew, rent per sq ft isn't really a thing or something you should ever use to rely on - I would definitely recommend checking rentometer or zillow for rent comps instead. There's so many variables like neighborhood, sq ft, finishes, etc. - it's not all about sq ft

Remington Lyman · Answer

I would recommend using Rentometer and/or RentCast. Then verify those addresses on Google and ensure they are legitimate. It’s even better if you can talk to fellow investors in the area to get their input.

Joe Villeneuve · Answer

Each micro-market dictates the cost or rent per sq ft.  Each range of sq ftgs within that micro-market will have a different "per sq ft" number.

Caleb Brown · Answer

I don't find a per SQ FT to be accurate for single families. There are too many variables that can sway the rent. Comparing apples to apples is best or having a PM give you a range.

Andrew K. · Answer

@Jaycee Greene thanks that was more so an example. Thanks for the input.

Jaycee Greene · Answer

@Andrew K. I did a quick Perplexity search and it came back with $1.62/SF, but it only found 2 homes that fit that specific 3/2 profile.

Rent per square foot???

Most Popular Reply