A Nifty Tool called Rentometer puts Web Search and Google Maps to good use to give you an idea of Market prices for rental units in your area. If you are a tenant, you might want to find out if you pay a fair price where you are or maybe you are looking to move and want to get an idea of what the price range will be for your new digs.
It can be helpful to landlords as well to see what price the market will bear for their property.
I tried it in my Montclair Area. All you need to enter is street address, city and zip, current rent, type of apartment and number of units in the property. Be patient, it takes a couple minutes to come up with the results.
The left panel displays the Rentometer (from low to high) with a needle highlighting where you stand.
The right panel maps gives you properties of similar size in the area.
Rentometer could be used in conjunction with a rental locator search that I reviewed earlier in My Apartment Map.
I found out about Rentometer on Lifehacker.
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