Calculators › Rent Estimator
Getting started
Rent Estimator
Read first: this is a rule-of-thumb starting range based on your property's value, not a comps-based market estimate. For an actual number, pull local comparables from a site like Rentometer or Zillow, or ask a local property manager, and adjust for condition, size, and demand.
As a first pass, monthly rent tends to land somewhere around 0.5% to 1.2% of a property's value, with roughly 1% as a common midpoint. Enter your value and market type to see a starting range, the price-to-rent ratio, and the gross yield. It updates as you type.
A starting estimate only, not a market appraisal or financial advice. Always confirm against real local comps before you list.
How to price rent for real
The range above is a sanity check, not a listing price. To set an actual number, pull three to five comparable rentals in your area, matched on bedroom count, square footage, condition, and amenities, and see where they cluster. Adjust up for a renovation or a strong location, and down if you want to fill the unit fast. Remember that pricing slightly below the top of the range often fills faster and attracts a stronger applicant pool, which over a full lease usually beats squeezing out an extra $50 that adds weeks of vacancy.
A worked example
On a $300,000 property in a typical market, the 0.8% to 1.0% band gives a starting range of about $2,400 to $3,000 a month, with a $2,700 midpoint. That midpoint implies a price-to-rent ratio near 9.3 and a gross yield around 10.8%. Those are gross figures, before taxes, insurance, maintenance, and vacancy, so pair them with the operating-expenses guide before you judge the deal.
Common questions
How accurate is this?
It is a starting range, not a market estimate. It cannot see your specific unit's condition, layout, or the live demand on your street. Treat it as a gut check, then confirm with real comps.
Why not just use national averages?
Because rents are intensely local. A national average blends markets with nothing in common, so it is close to meaningless for pricing one property. Local comps are the only reliable source.
What is the 1% rule?
A quick screen that pegs monthly rent near 1% of the property's value. Useful as a first filter, but many markets run well below it. See the 1% and 50% rules.
How do I check a tenant can afford it?
A common standard is monthly income of about three times the rent. Enter a prospective income above and the tool shows what they would qualify for. More on this in how to screen a rental applicant.
About the author
Ready Utilities was founded by Cedrick Reese, a retired veteran and web developer who enjoys building free, user-friendly online tools that simplify everyday tasks. My journey began in the early 2000s with affiliate marketing and niche site development, which grew into a passion for creating practical digital utilities and calculators. After retiring, I earned a Computer Systems Technician certificate from UEI College, completed Electro-Mechanical Technologies at Tulsa Welding School, and finished the Carpentry program at Florida State College at Jacksonville. Today, I combine my technical background and craftsmanship by building furniture using traditional woodworking methods, gardening, and developing helpful online tools for users worldwide.