Enter the rent of property 1 ($), the rent of property 2 ($), and the rent of property 3 ($) into the calculator to determine the Average Rent. 

Average Rent Formula

The following formula is used to calculate the Average Rent. 

Rave = (RP1 + RP2 + RP3) /3

  • Where Rave is the Average Rent ($)
  • RP1 is the rent of property 1 ($) 
  • RP2 is the rent of property 2 ($) 
  • RP3 is the rent of property 3 ($) 

How to Calculate Average Rent?

The following example problems outline how to calculate Average Rent.

Example Problem #1

  1. First, determine the rent of property 1 ($). In this example, the rent of property 1 ($) is given as 5000 .
  2. Next, determine the rent of property 2 ($). For this problem, the rent of property 2 ($) is given as  6000 .
  3. Next, determine the rent of property 3 ($). In this case, the rent of property 3 ($) is found to be 6500.
  4. Finally, calculate the Average Rent using the formula above: 

Rave = (RP1 + RP2 + RP3) /3

Inserting the values from above yields: 

Rave = (5000 + 6000 + 6500) /3 = 5833.33 ($)


Example Problem #2

The variables needed for this problem are provided below:

rent of property 1 ($) = 3000

rent of property 2 ($) = 2350

rent of property 3 ($) = 3500

Entering these values and solving gives:

Rave = (3000+ 2350 + 3500) /3 = 2950 ($)