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How to Set the Right Rent Price for Your Market

By PropsManager Team | Dec 17, 2025

How to Set the Right Rent Price for Your Market

Setting the rent is one of the most important decisions you make.

1. Run Comparables (Comps)

Look at similar units in your neighborhood (same bedrooms, bathrooms, condition).

  • Zillow/Trulia/HotPads
  • Craigslist
  • Facebook Marketplace

2. Adjust for Amenities

  • In-unit laundry? +$50-100
  • Parking spot? +$
  • Renovated kitchen? +$

3. Consider Vacancy Rates

If there are 50 other apartments available on your street, you might need to price aggressively to compete. If inventory is low, you can push the price.

4. The 1% Rule (Rough Guide)

Investors often look for rent to be 1% of the property value (e.g., $200k house = $2,000 rent). In high-cost areas, this is often impossible, but it's a benchmark.

Conclusion

Don't be emotional. The market dictates the price, not your mortgage payment.