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How Much Should I Charge for Rent?

Get an instant rent estimate based on real market data. Compare your city to others and price your rental competitively.

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1 Bedroom Median Rents by City

CityMedian Rent$/SqftYoY Change
New York, NY$3,400$5.20+3.2%
San Francisco, CA$3,200$4.80+1.5%
Boston, MA$2,800$4.20+4.5%
Washington DC, DC$2,400$3.60+2%
San Diego, CA$2,300$3.50+2.1%
Los Angeles, CA$2,200$3.40+2.8%
Miami, FL$2,200$3.20-0.5%
Seattle, WA$2,100$3.10+2.3%
Chicago, IL$1,700$2.50+4.1%
Denver, CO$1,700$2.30+0.5%
Nashville, TN$1,600$2.00+1.8%
Portland, OR$1,600$2.20+0.2%
Atlanta, GA$1,600$1.90+2.5%
Tampa, FL$1,600$1.90+0.8%
Philadelphia, PA$1,500$2.10+3.5%
Austin, TX$1,500$2.00-2.5%
Dallas, TX$1,400$1.80+1.9%
Minneapolis, MN$1,400$1.90+3%
Charlotte, NC$1,400$1.70+2.2%
Phoenix, AZ$1,300$1.70-1.2%
Raleigh, NC$1,300$1.60+1.5%
Houston, TX$1,200$1.60+1.5%
Las Vegas, NV$1,200$1.50-1%
San Antonio, TX$1,100$1.40+0.8%
Detroit, MI$1,000$1.20+5%

How to Determine the Right Rent Price

Setting the right rent price is one of the most important decisions a landlord makes. Price too high and your unit sits vacant, costing you money every month. Price too low and you leave revenue on the table.

Factors That Affect Rent Price

  • Location: Neighborhood, walkability, school districts, and proximity to transit all affect what renters will pay.
  • Unit size and layout: Square footage and bedroom/bathroom count are primary rent drivers.
  • Condition and upgrades: Updated kitchens, in-unit laundry, and modern finishes can command 10-20% premiums.
  • Market conditions: Supply and demand in your local market shift seasonally and year to year.
  • Amenities: Parking, storage, pet-friendliness, and building amenities (gym, rooftop) add value.

Tips for Landlords

Start with the median rent for your area and adjust based on your unit's unique features. Check comparable listings on rental platforms to see what similar units are asking. Consider offering slightly below market rate to attract quality tenants faster and reduce vacancy costs.

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