Market Rent

Market rent is the typical amount that tenants pay for a property in a specific area, based on current supply and demand. It reflects what landlords can reasonably charge for similar properties under normal conditions, considering factors like location, size, amenities, and local economic conditions. Market rent can fluctuate over time as the local housing market changes. It serves as a benchmark for both landlords setting rental prices and tenants evaluating whether their rent is fair relative to the current market.