How Much Rent Should I Charge?

Price your rental too high and it sits empty (vacancy is the silent killer of cash flow). Price it too low and you leave hundreds a month on the table. Here's how to land on the right number.

1. Start with comps

The market sets the price, not your mortgage. Find 3–5 currently-listed and recently-rented units near yours with similar beds, baths, square footage, and condition. Zillow, Apartments.com, and Rentometer are good sources. Your number should sit in that range.

2. Sanity-check with rent-to-value

Most rentals land around 0.5%–1.1% of the property's value per month. A $300,000 home typically rents for ~$1,800–$2,400. If your comps say wildly more or less, dig into why (renovations, location, demand).

3. Adjust for what makes yours different

• Up: renovated kitchen/bath, in-unit laundry, parking, great schools, pet-friendly.
• Down: dated finishes, no parking, busy street, long days-on-market for nearby comps.

4. Factor in vacancy

Charging $50 more but sitting empty an extra month costs you more than you gained. When in doubt, price slightly under the top comp to rent fast and keep occupancy high.

Get a rent estimate instantly

PropVision pulls a market rent estimate for any address (and shows whether the asking price is realistic) in seconds.