Analyzing market rent

[Lucas Musil]

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? 

[Tim Johnson]

@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.