1. What is the Rent Zestimate?

The Rent Zestimate is Zillow's estimated monthly rental price for a property, calculated using a proprietary formula that incorporates comparable properties, location coordinates, and home features.

2. How Does the Calculator Work?

The calculator approximates Zillow's algorithm:

Where:

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

Explanation: The model weighs location most heavily, followed by comparable rents and property features.

3. Importance of Rental Estimates

Details: Accurate rental estimates help landlords price competitively and help renters evaluate fair market value when searching for homes.

4. Using the Calculator

Tips: Enter average comparable rental prices from your area, exact location coordinates, and all property features. For best results, use recent comparable data.

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 market.

Q2: What factors affect the estimate most?
A: Location has the greatest impact, followed by square footage and bedroom count.

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

Q4: Can I improve my Rent Zestimate?
A: Claiming your home and updating home facts can improve accuracy.

Q5: Does this work for all property types?
A: The model works best for single-family homes, condos, and townhomes.