Rent price estimate

The Rent Estimation endpoint provides fair market rent estimates, reflecting the most probable rent a property could command based on a variety of available information, such as:

  • House Structure: Beds, baths, living area, build year, etc.
  • Location: State, county, city, ZIP code, etc.
  • Neighborhood Aggregates: Safety, school quality, median income, etc.

This estimate assumes the “as-is” condition of the property and does not account for potential future renovations or market factors like vacancy rates or days on market, which are often observed later during the leasing process. Instead, it offers a snapshot of the rental potential based on the data available, making it a reliable starting point for pricing strategies.

The API leverages data from multiple sources, including:

  • Multiple Listing Services (MLS)
  • Census datasets
  • Private vendors (e.g., Attom)

It invokes Picket’s proprietary Rent Pricing model, which blends modern AI techniques with traditional comparable listings and insights from local real estate agents.


How to Use

This API is tailored for real estate professionals, property managers, and analysts who need accurate rent estimates to refine pricing strategies. It's ideal for both individual properties and large portfolios in enterprise settings. The API is also accessible to anyone interested in discovering the rental value of their home.

API Request

To use the API, provide the full address of the property.

API Response

The response includes:

  1. Rent Estimate: The predicted fair market rent, calculated based on property attributes such as bedrooms, bathrooms, living area, build year, and location specifics like ZIP code and neighborhood factors.
  2. Rent Range (Low & High): This range reflects market variability. The lower bound provides a conservative estimate aimed at minimizing vacancy risk, while the upper bound offers insights into higher rental potential in competitive markets.
  3. Use Score: A reliability score indicating the accuracy of the estimate, based on data completeness and property characteristics. This helps users adjust pricing strategies when encountering irregularities.

For further details, refer to our API reference documentation.


How Picket Leverages This Service in Its Products

  1. Property Management & Leasing
    Picket ensures competitive pricing and avoids long vacancy periods by understanding the upper and lower rent estimates. Property managers can balance profit margins with tenant affordability.

  2. Acquisition & Investment Decisions
    Investors can estimate potential rental income and use the provided rent range to stress-test financial models, aiding in acquisition decisions.

  3. Benchmark Rental Yields
    The service enables users to compare rental yields of a property against similar assets in the area, helping investors allocate capital more effectively.

  4. Risk Management
    The low and high rent estimates provide investors with insights into market risks, ensuring informed decisions on property pricing in volatile markets.