Are other websites like Realtor.com or Redfin more accurate? Is Zillow Zestimate accurate? The problem with the Zestimate is it uses a computer algorithm to come up with a value. Home value estimators like Zestimate have gotten a lot more accurate in recent years. In particular, if you’re planning to put your house on the market soon and you’re trying to figure out its value, focus on the Zestimate Range, not the single-dollar Zestimate value. The Zestimate is calculated from public and user-submitted data, taking into account special features, location, and market conditions.” To clarify, their staff members do not calculate their estimates. Compare your home to nearby rentals with similar square footage, bedrooms and bathrooms. Get the Rent Zestimate® Use Zillow’s estimated monthly rent price as a starting point for pricing your rental … A Rent Zestimate (pronounced ZEST-ti-met, rhymes with estimate) is Zillow's estimated monthly rent price, computed using a proprietary formula. But it looks like bragging rights for accuracy could be shifting to Zillow. Unreported additions, updates and remodels aren't reflected in the Zestimate. How can real estate pros work with the Zestimate®? The Rent Zestimate is a starting point in figuring the estimated price of a rental. Without insider info into the algorithm for calculating Zestimates, I’m assuming it’s very similar to the way they calculate Zestimates for sale listings. It is a starting point in determining a home’s value. If data is missing or incorrect, let us know. What Is Zillow Zestimate? A Rent Zestimate (pronounced ZEST-ti-met, rhymes with estimate) is Zillow’s estimated monthly rent price, computed using a proprietary formula. The Rent Zestimate’s accuracy depends on the home data that’s available. As with their home valuations, the Rent Zestimate might not be what you expect, and it's based on the amount of rental data Zillow has been able to gather for your area. It is a starting point in determining the monthly rental price for a specific property. A Zestimate is free and easy to obtain and allows people to look at an estimated value of a home without having to go through a professional. Our neighbors home is selling for $154k, and zillow estimates it at only $126k. Not very, says one Washington-area agent. Not very, says one Washington-area agent. This estimate is provided with every listing on the site. But just how accurate is a Zillow Zestimate? It doesn’t just show you an ultra-low monthly mortgage payment. But what is a Zestimate based on and how accurate will it be? The tables below show you where we have Zestimates and other home information. How accurate is the Zestimate®? If you want to increase the accuracy of your Rent Zestimate, the easiest way is to provide us with more property details so we can better understand your rental’s value. If your home facts are incorrect, this will affect your Rent Zestimate. I use it as a minimal baseline of my homes value, although it would likely be valued at nearly $20-30k more. Be aware that in some areas, we might not be able to produce a Zestimate at all, but we do have some basic information on the homes. What is a Rent Zestimate? Ultimately, it’s your decision what to charge for your rental. In Zillow’s own words: “The Zestimate® home valuation model is Zillow’s estimate of a home's market value.” So, it’s really just Zillow’s guess at how much a home could sell for. This estimate is provided with every listing on the site. First, Zillow uses user-submitted data in its estimate. Here’s what you should know about Zillow Zestimates and how to use them. As with their home valuations, the Rent Zestimate might not be what you expect, and it's based on the amount of rental data Zillow has been able to gather for your area. What is a Rent Zestimate®? At best, Zillow is about as accurate as the tax assessment and we all know not to use that estimate in real estate. Some counties provide all the data we could hope for, but others are lacking such key things as the number of bedrooms and bathrooms, or, in some cases, the square footage of the home.