Rental Market

7 Replies

I fairly new to the site and just wanted to find out is there any sites that i look at and find information or numbers on the rental market? I know that my area rentals homes are pretty rare. Im tring to decide how much rent i could charge in certain places. Thanks

There really isn't one site that accurately provides this information.  The key is to check multiple sources when trying to determine accurate rent rates. 

With regard to Rentometer, keep in mind that it does not factor in how many bathrooms a home has, the condition of the home, size of the home, or even type of home (apt vs SFR). It's mainly just comparing properties with a similar number of bedrooms in a given area.

With that being said, it's okay to check Rentometer as ONE of your sources.  But you should have many sources (i.e. Craigslist, Zillow, local property mgmt company, etc) because not one of these sources by themselves is entirely accurate. 

BP actually has its own comprehensive guide on this topic which could give you some additional ideas.  Check it out here: The Ultimate Guide to Fair Market Rents

While there are certain sites that give you a rough estimate on the average rent in your area the best place to find accurate, timely information is to network. Speak to realtors, brokers, and property managers. Find other investors in your area. Connect with other landlords and see what they are doing.

Even in the smallest of towns there are usually a handful of rental properties. Find those addresses, see if they are comparable to the product you are interested in investing in and run a comparison analysis to see what you might be able to charge. 

Thanks for all of the info. Now is there a site that says what the % of rentals are vacant and what not? thanks again

there is no good "site" that produces all these numbers who are "accurate". Zillow, rentomter etx are great in some but mine they are off in the "hundreds". So be careful!  I get a good idea of what the market is bywatching  the rentals on the different sites. How long they are there and how quickly they go! (disclaimer: it's my own company) is also providing this info and the Rent Estimate accounts for SFH/TH/Apt , Bedrooms and Baths plus SQFT of the property. Also you can find the market trends by major Metro areas, updated monthly.

Originally posted by @Bernie Avila :

Thanks for all of the info. Now is there a site that says what the % of rentals are vacant and what not? thanks again

Also, we do provide the Vacancy rate for sub-zipcode segments where that property is located.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here