1. What is Rent Zestimate?

The Rent Zestimate is Zillow's estimated monthly rental price, computed using a proprietary formula that analyzes comparable properties, location, and home features. It provides a starting point for determining rental value.

2. How Does the Calculator Work?

The calculator approximates Zillow's Rent Zestimate formula:

Where:

• Comparable Properties — Recent rental prices of similar properties in the area (USD)
• Location — Geographic coordinates (latitude/longitude)
• Features — Property characteristics like bedroom count

Explanation: The actual Zillow algorithm is proprietary but considers hundreds of data points about the property and local market conditions.

3. Accuracy of Rent Zestimates

Details: Zillow reports the Rent Zestimate has a median error rate of about 6.9% for on-market rentals and 10.2% for off-market properties. Accuracy varies by location and data availability.

4. Using the Calculator

Tips: Enter comparable rental prices in USD, precise location coordinates, and property features. For best results, use recent comparable data from similar properties.

5. Frequently Asked Questions (FAQ)

Q1: How accurate are Zillow rent estimates?
A: Zillow claims median error rates between 6.9-10.2%, but accuracy varies significantly by market and data availability.

Q2: What factors affect Rent Zestimate most?
A: Recent comparable rentals, location (neighborhood), square footage, and bedroom/bathroom count have the largest impacts.

Q3: How often is Rent Zestimate updated?
A: Zillow updates estimates daily as new data becomes available, but major revisions may take weeks after new listings appear.

Q4: Can I challenge my Rent Zestimate?
A: Yes, property owners can submit corrections through Zillow's website if they believe the estimate is inaccurate.

Q5: Why does my Rent Zestimate fluctuate?
A: Changes in local market conditions, new comparable rentals, and updates to Zillow's algorithm can all cause fluctuations.