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 ($) = 3500 Entering these values and solving gives: Rave = (3000+ 2350 + 3500) /3 = 2950 ($)