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, home features, and market trends.

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 considers hundreds of data points.

3. Importance of Rent Estimation

Details: Accurate rent estimation helps landlords price competitively and helps renters evaluate fair market value when searching for homes.

4. Using the Calculator

Tips: For best results, use actual comparable rental data from your area. Include accurate property details for the most reliable estimate.

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 homes, but accuracy varies by location and data availability.

Q2: What factors most affect the Rent Zestimate?
A: Location, square footage, bedroom/bathroom count, and local market trends have the biggest impact.

Q3: How often is the Rent Zestimate updated?
A: Zillow updates estimates daily based on new market data and algorithm improvements.

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

Q5: Does Zillow use this estimate for all properties?
A: The Rent Zestimate is available for about 100 million U.S. homes, but not all properties have sufficient data.