1. What is the Rent Zestimate?

The Rent Zestimate is Zillow's proprietary algorithm that estimates rental prices based on comparable properties, location coordinates, and home features. It provides a starting point for determining appropriate rental prices.

2. How Does the Calculator Work?

The calculator simulates the Rent Zestimate formula:

Where:

• Comparable Properties — Recent rental prices of similar properties in the area (USD)
• Location — Geographic coordinates (latitude and longitude)
• Features — Property characteristics (bedrooms, bathrooms, square footage)

Note: The actual Zillow algorithm is proprietary and more complex than this simulation.

3. Importance of Rent Estimation

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

4. Using the Calculator

Tips: Enter comparable rental prices in USD, precise location coordinates, and accurate property features. More accurate inputs yield better estimates.

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 most affect the Rent Zestimate?
A: Location, property size, and recent comparable rentals have the biggest impact on the estimate.

Q3: How often is the Rent Zestimate updated?
A: Zillow updates estimates daily as new data becomes available.

Q4: Can I challenge my Rent Zestimate?
A: Yes, property owners can update home facts on Zillow which may affect the estimate.

Q5: Does Zillow use this estimate for all properties?
A: The algorithm works best for standard residential properties; unique properties may have less accurate estimates.