They base their rates on the address and what their algorithms show for the potential of loss there.  

The Google algorithm gives Google+ users a higher keyword search result because it is a Google company.

This isn't 2005 anymore so I don't know why anybody would still use Rent-O-Meter given all the problems you yourself acknowledge that it has- it doesn't differentiate between a apartment vs a single family home, doesn't factor square footage, doesn't  factor in bathrooms when there's a big difference between a 3 bedroom with 3 bathrooms vs 3 bedroom with only 1 bathroom, etc...Zillow  isn't guaranteed to give you a perfect comp, but I feel that their algorithm takes all that various factors into account which Rent-O-Meter doesn't. 

With regards to their program, I think making a lot of blind offers and using an algorithm to pick the offer price is just barely scratching the surface.

X-Amz-Expires=601200&X-Amz-Date=20160819T030123Z&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAJ2DXENEECSJVAAQA/20160819/us-east-1/s3/aws4_request&X-Amz-SignedHeaders=host&X-Amz-Signature=269e379cef996002750f9635823fac280b3a77dc94cf614d25fd625a228237a0

If you are looking for data in Indianapolis.... here are some of my suggestions.Zillow is an easy place to start, but their algorithms can be very wide.

I think I cracked the algorithm for a real live automated appraisal like Zillow and those other monkeys have been trying to do..

this is strictly in regards to the differences in scores REAL scores meaning the ones shown online on the listed sites and the different "algorithms" used in a"mortgage" score

Very interesting article on AI in REI...or is it REI-AIhttp://fortune.com/longform/single-family-home-ai-algorithms/

The best deals won't be so obvious that a computer algorithm can identify them:A computer cannot identify off-market deals.