Thursday, April 17, 2008

Rentometer Lets You Compare Your Rent W/ Your Neighbors!

My roommate and I are about to renew our lease on our apartment, which ends this month. It would be our third year in our place, and despite our rent going up an extra 40 dollars a month each starting in May, we knew that we had a good deal.

Just to confirm, I just checked out Rentometer, a website that lets you input your current rent and address, and then compare it to other apartments of similar value (based on number of rooms and number of units in the building).

It displays a map that shows places around your region, and whether they are cheaper or more expensive:

It also compares your rent with the median price of the area. According to the graph, we're basically on the low end on the scale! Awesome!

Rentometer seems to be running slowly at the moment, as its popularity rises. However, as it does, you get more info to compare with yours, which is all the better. The only thing I've got to gripe about is currently there is no method for selecting only units that are currently renting. While there may be apartments out there that are a better deal than yours, there's no guarantee that they would have units available.


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1 comment:

Owen Johnson said...

Arvin, thanks for covering the Rentometer!

A few things that I think you'll be happy to know.

First off, although we do save user-entered data for future use, we do not currently use it in our comparisons.

Because of that, we have the luxury of computing our statistics using recent rental listings, so our statistics are intended to provide an snapshot of the current market.

Thanks again for the coverage! Feel free to check out our FAQ or contact us if you have any other questions!

Take care,
Owen Johnson