Rentometer

We just heard about a nifty web tool for figuring out the average amount of rent for your neighborhood.

Pop in your address, current rent, number of bedrooms and units in the building. The Rentometer analyzes the property and gives you a report.

You get a "meter" which plots your rent in the range of low, median or high rents for your specific area. You also see a google map with clickable points telling you the rental price of same-same size units close by.

Now, certainly this is a very general report, as amenities and condition of apartments vary greatly. But considering ease of use and amount of information given in return, we think it is good research tool for renters looking to negotiate, when considering a neighborhood change or just to plain old satisfy curiosity.

Currently works for the US, Canada and London. Check it out here.

(Thanks, Michele!)

Comments (4)

I wonder about this. I own but wanted to see how my mortgage compares to rents in the area. But there doesn't seem to be a way to search comparable rents without entering your own data, so I entered my mortgage... which turns out to be a few hundered dollars more than typical rents.

So now, when someone else comes along, will my mortgage payment be included in their results? I hope not, but it seems like it will be, and that will make the results much less accurate.

posted by Anne in Chicago on April 19th 2007 at 6:46am
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Another thing they aren't taking into account is what floor you are on. Generally the higher up you are, especially compared to a Garden apt., the more expensive it is going to be.

posted by katie on April 19th 2007 at 6:47am
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It also doesn't ask for square footage which I think is a pretty significant factor in gauging rent.

posted by Sasha on April 19th 2007 at 8:05am
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I agree with Sasha - price per square foot information would make a big difference in accuracy.

posted by Erin T. on April 19th 2007 at 8:32am
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