House hacking SFH, how much to charge for rooms?

[Stephen Gibson Jr]

Hey there, I'm curious what factors others are considering when determining what price to charge for room for rent. 

Please let me know if you have any insight or suggestions on how to maximize the rental income. I was thinking to include utilities and/or light bedroom furnishings (bed frame, nightstand, desk, lamp, etc) depending on how much I can charge. I've also seen some people splitting utilities evenly, I'm not opposed to this either. 

I'm located in a large city that has plenty of rooms for rent and the property is pretty desirable, so I'm sure I'll find people interested but I'm unsure exactly how much to charge. Any advice would be greatly appreciated.

Thanks

[Jake Andronico]

@Stephen Gibson Jr

Great question. I rent by the room here to students, and from some Facebook research and speaking with students/tenants, you get a sense of the market pretty quickly. 

Also Roomies.com allows you to see your posted competition. 

Hope this helps and good luck!