General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal



Real Estate Classifieds
Reviews & Feedback
Updated about 3 years ago on . Most recent reply

Analyzing market rent
My question is how do you calculate market rent in a specific area? The area's I am looking in can drastically change within a 15 minute drive. I am currently looking at single family and 2-family homes in the suburbs that surround Milwaukee.
I have come up with a process myself but...wonder if I am missing something!
1. I look at what a similar apartment to the home (same amount of rooms/baths/sq. ft.) on Zillow, MLS, Rent.com, Apartments.com, FB market place, Ect.
2. I look at what other homes in the area are renting for (same amount of rooms/baths/sq. ft.) on Zillow, MLS, Rent.com, Apartments.com, FB market place, Ect.
3. After I look at what they are being listed at for rent I look at each of the posts to see how many views, contacts and saves the listing has.
4. After doing this research I see how many applications each one has (if displayed). Then check back to see what is and is not still on the market.
5. I take the number I came up with and verify it by seeing which ones are off the market quickly.
FYI - The BP calculator does not work well for the areas I am looking in
What am I missing? How can I improve this analysis? What would you seasoned investors do?
Most Popular Reply

@Lucas Musil - Everything you're doing is good. But you're always missing the absolutely best source of market rental info if you're not talking to a local property manager. They are usually more than willing to share info or confirm and suggest adjustments to your research.