How to calculate the rental rate for your property

The rental rate you set affects how fast your unit fills, what kind of tenant you attract, and whether the property makes money after expenses. A common starting point is the 1% rule, or charging 0.8% to 1.1% of your property's value as monthly rent. But that formula has become less reliable as home values have outpaced rent growth in many markets. Local comps within a one-mile radius are a stronger pricing signal, plus operating expenses (like maintenance, taxes, insurance, and vacancy reserves) need to be factored in before you list. RentSpree's Rent Estimate report provides local comparables, vacancy data, and market trends to help landlords price with confidence.