Zillow

How accurate are Zillow Rent Zestimates?

They’re not. They’re all over the place…in some places’s they’re pretty close, in others, very high, in others very low. Based on their unpredictability, I don’t use them.

My two cents…

Keith

They are not that accurate. However they are “somewhat accurate” … basically the website will usually give you a rough idea of what a house is worth in a particular area. However it is not always accurate - I will say that again. =) You always want to follow up with a current CMA from a realtor — that’s definitely the best way to value a single family house. Good luck!

In my opinion the best way to get rent estimates is with your Sunday newspaper ads/Craig’sList and a map. Plot the bedrooms and prices and you will see a trend. Then drive the ones closest to your rental house or area. Make comparisons like YOU are the renter. What would you pay to rent that house?

Furnishedowner

Thanks all! :beer

I use Zillow a lot.
I think it gives me a ballpark when comparing one neighborhood to another.
I do not trust the Zestimates and the rent estimates are worse.

Zillow also seems to ne different in different areas. Doesn’t give estimates at all for a town 40 miles from me.

I do look at the sales history and Zillow does show some comps, but picks even worse ones than a realtor.

So short answer I use it all the time, but wouldn’t trust it as an appraisal tool.

I must say that none of the online sites are Very much accurate. But you may consider Zillow as a good place to start your search.

Zillow’s algirithom is not accurate in rural, or areas without a lot of data, both from rent and sale prices.