Average Rent Calculator

Calculate Average Rent





Formula

To calculate the average rent (\(R_{ave}\)):

\[ R_{ave} = \frac{RP1 + RP2 + RP3}{3} \]

Where:

What is Average Rent?

Average rent refers to the mean value of the rent amounts for a given set of properties. It provides an estimate of the typical rent cost within a specific group or area, helping landlords and tenants understand the market rates.

Example Calculation 1

Let's assume the following values:

Using the formula:

\[ R_{ave} = \frac{1200 + 1500 + 1300}{3} = \frac{4000}{3} \approx 1333.33 \]

The average rent is approximately $1333.33.

Example Calculation 2

Let's assume the following values:

Using the formula:

\[ R_{ave} = \frac{1000 + 1100 + 1050}{3} = \frac{3150}{3} = 1050 \]

The average rent is $1050.