Top 5 Property Rent Estimate Calculators

As a rental property investor, one of the most valuable tools at your disposal are rental property calculators. These calculators are not just numbers, they are your key to unlocking the potential of your investments. By providing accurate estimates of potential rental income, they guide you in making informed decisions about property selection and location, allowing you to enhance your pricing strategy and maximize your earning potential.

Luckily, there are several online tools and calculators that offer both free and paid versions. They each offer different sets of advantages and disadvantages for both aspiring and veteran investors. Here are our picks for 5 of the best rental property rent estimate calculators out there.

1. BNBCalc

First, we have BNBCalc. BNBCalc is primarily a short-term rental calculator that uses nearby comps based on Airbnb and VRBO properties to provide accurate revenue projections. However, it can also excel as a long-term rental calculator because it provides an in-depth analysis of long-term rental projections and comparable properties, all found within the property report.

It also offers an incredibly user-friendly interface that requires only input of the address, number of beds and bathrooms, and purchase price. This can be made even easier by simply using a Zillow link to the preferred property instead.

BNBCalc Cost

BNBCalc offers a 7-day free trial period during which you can analyze as many properties as you want without any hidden charges. This provides you with a fully premium experience like no other. After the trial period, BNBCalc only costs $29.99 for a monthly subscription or $199.00 for a yearly subscription.

BNBCalc Key Features

• Provides estimations for both short-term and long-term rentals.
• Offers a cash-on-cash return and financial summary.
• Allows users to enter addresses manually or import property listings using Zillow links.
• Trial and subscription plans are available.
• Allows property report customization.

2. Rentometer

Rentometer is a widely used online tool designed to help real estate investors, landlords, and property managers estimate rental rates for residential properties. It provides a comprehensive platform that may look complicated at first but only requires a slight learning curve. It analyzes rental data and generates detailed rent comparison reports, making it a valuable resource for every type of rental investor.

Rentometer Costs

You can start using Rentometer for free with their offered 7-day trial period. During this time, you can test their locked premium features before committing to a subscription plan. They also offer a fully free plan that gives a basic overview of rental rates within the selected area. It’s limited to 5 reports every 30 days, but that’s more than enough for a free plan.

Finally, Rentometer features a couple of different subscription types for all your rental calculating needs. The Pro Basic costs $79 per year and includes 50 Pro Report Credits. The Pro Standard costs $199 per year, with 250 Pro Report Credits. Lastly, users can avail of a monthly subscription plan that costs $29, with 10 Pro Report Credits.

Rentometer Key Features

• Offers rent range and percentiles, allowing users to better understand the area.
• Provides access to historical data, showing possible trends and seasonality patterns for up to the past four years.
• Allows batch analysis for Pro users, where you can analyze multiple properties simultaneously, making it easier for big investors to access rental data.
• Access to neighborhood-level analysis, giving in-depth insights about rental data within a given market.
• Allows Rentometer Pro users to connect with property managers and real estate professionals within the area.

3. RentCast

RentCast is a powerful online platform that provides accurate rent estimates and comprehensive rental market analysis for any property across the United States. Investors who value data-driven decisions will definitely appreciate RentCast's ability to provide instant rent estimates, nearby rental comparables, and detailed local market trends. Whether you're a seasoned investor or just starting out, RentCast's robust features can help you make informed decisions and maximize your returns in the rental property market.

RentCast Cost

RentCast highlights both a Free Plan and a Pro Subscription Plan to suit the needs of every investor. The Free Plan allows users to view up to 5 rental comps and 5 properties in their portfolio, along with access to local market trends and basic rent estimates. However, for power users, the RentCast Pro monthly subscription plan starts at $19.99 per month or $144 per year for up to 20 nearby rental comps, with up to 50 properties in the portfolio, and unlocks all of their premium features.

RentCast Key Features

• Comprehensive rental data based on MLS, property management software, and user-submitted data.
• Takes factors like property characteristics, location, and market trends into account when calculating rental estimates.
• Customizable reports for a shareable and professional property report presentation.
• Allows integration with property management software, streamlining workflow and providing a smoother analysis experience.

4. RentRange

RentRange is a powerful online platform that provides accurate rent estimates and market trend insights for rental properties across the United States. Designed to cater to the needs of property owners, investors, and real estate professionals, RentRange offers a comprehensive suite of tools and reports to aid in making informed investment decisions.

RentRange Cost

RentRange works on a pay-per-use model where users are required to pay to access property reports. Each report costs $14 but can be lowered down to $9 for more than 100 reports. Overall, this model is costlier than calculators that offer unlimited reports per month but is more accessible to those who only have a handful of properties. They also offer customized plans for enterprise-level clients, which require users to email them directly for more information.

Tier Breakdown:

• Pricing Tier 1: $14 per report for 1 to 10 reports
• Pricing Tier 2: $13 per report for 11 to 25 reports
• Pricing Tier 3: $12 per report for 26 to 50 reports
• Pricing Tier 4: $10 per report for 51 to 100 reports
• Pricing Tier 5: $9 per report for more than 100 reports

RentRange Key Features

• Offers a comprehensive report downloadable in PDF format.
• Includes core rent estimates along with rental comparables.
• Flexible pricing based only on what each user needs.
• Provides a very simple and user-friendly interface.

Conclusion

In conclusion, when it comes to evaluating rental property investments, having access to accurate rent estimates is crucial. The rental property rent estimate calculators offer valuable tools and resources to help investors make informed decisions. Ultimately, the choice of calculator will depend on individual needs, investment goals, and the level of detail required. By utilizing these powerful tools, investors can confidently navigate the rental property market and maximize their returns.