1. What is the Rent Zestimate?

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

2. How Does the Calculator Work?

The calculator approximates Zillow's proprietary formula:

Where:

• Comparable Properties — Recent rental prices of similar properties in the area (USD)
• Location — Geographic coordinates of the property
• Features — Bedrooms, bathrooms, square footage, and other amenities

Note: The actual Zillow algorithm is proprietary and includes many more factors than shown here.

3. Importance of Rent Estimation

Details: Accurate rent estimation helps landlords price competitively and helps renters evaluate fair market value. Zestimate provides a data-driven starting point for rental negotiations.

4. Using the Calculator

Tips: Enter comparable rental prices from your area, exact location coordinates, and all property features. For best results, use recent comparable data (within 3-6 months).

5. Frequently Asked Questions (FAQ)

Q1: How accurate is the Rent Zestimate?
A: Zillow reports a median error rate of about 6-7% for on-market rentals, but accuracy varies by location and data availability.

Q2: What factors affect the Rent Zestimate most?
A: Location, square footage, and number of bedrooms/bathrooms typically have the largest impact on the estimate.

Q3: How often is the Rent Zestimate updated?
A: Zillow updates its models regularly as new data becomes available, but individual estimates may not change daily.

Q4: Can I challenge my Rent Zestimate?
A: While you can't directly change the Zestimate, ensuring your home facts are accurate on Zillow can help improve the estimate.

Q5: Does Zestimate account for unique property features?
A: The model considers standard features well, but may not fully account for unique upgrades or special circumstances.