The monthly rent agreed to or stipulated in a lease or rental agreement, not including the cost of utilities or other services (e.g., furniture, appliances) that may be included in the rent.
This is the direct rental payment for the housing unit itself. It's crucial for understanding the basic cost of renting and forms the foundation for evaluating housing affordability.
Specific Relevance for Professionals:
Marketers
Essential for apartment listing services, relocation companies, and businesses offering services to renters. It helps segment rental markets by price point for various housing options.
Researchers
Fundamental for studying rental market trends, housing affordability, and rental price fluctuations. It provides data for economic analysis of rental markets.
Consultants
Crucial for real estate investors assessing rental property viability, property management companies evaluating market rates, or advising clients on new rental development projects.
Public Policy Workers
Important for informing rental housing policies, tenant protection laws, and assessing the basic affordability of rental housing stock within a community.