There are many tools at a landlord or property manager’s disposal to research rents. One of the best that we have found is by the site Rentometer. You can use their widget below at our site any time you want to check what area rental prices are going for. Sometimes they don’t have the data, but if they do, it will give you a cool meter showing where your rent is compared to the competition. Check it out!
HUD FMR (FAIR MARKET RENTS) at HUD.GOV
A really great resource, especially if you are renting to Section 8 tenants or others on public rental assistance payments is HUD’s *hud.gov) Fair Market Rent section of their website, found at HUD User. Here’s the link: http://www.huduser.org/portal/datasets/fmr.html. This is an absolutely invaluable survey of what HUD will pay for studio, 1 bedroom, 2 bedroom, 3 bedroom and 4+ bedroom rentals- broken down by local areas throughout the United States. They update it each year and these are the guidelines they follow in paying landlords when public rental assistance tenants lease their rental units. If I had just one resource to go by each year when looking at and adjusting my rents… this would be it.
We have also had great success researching rental prices on Craigslist, local classifieds, driving around town and calling other property owners and searching on other “For Rent” sites across the internet.