Enter the total rent amount and total square footage into the calculator to determine the rent per square foot.

Rent Per Sq Ft Calculator

Rent Per Sq Ft Formula

The following equation is used to calculate the Rent Per Sq Ft.

RPSF = TR / SF
  • Where RPSF is the rent per square foot ($/sq. ft)
  • TR is the total rent ($)
  • SF is the total square footage (sq. ft)

To calculate the rent per square foot, divide the total rent by the total square footage.

What is a Rent Per Sq Ft?

Definition:

Rent per square foot typically refers to the cost of renting a property, unit, or space divided by the total square footage of that space. It is commonly used as a standard measure to compare properties of different sizes.

How to Calculate Rent Per Sq Ft?

Example Problem:

The following example outlines the steps and information needed to calculate the Rent Per Sq Ft.

First, determine the total square footage. In this example, the property is 1,200 square feet.

Next, determine the total rent for the property. This property rents for $1,800 per month.

Finally, calculate the rent per square foot using the formula above:

RPSF = TR / SF

RPSF = $1,800 / 1,200

RPSF = $1.50 / sq. ft

FAQ

How does location impact the rent per sq ft?

Location can significantly impact rent per square foot, as areas with higher demand, better amenities, or more desirable neighborhoods generally command higher rent prices.

Are utilities typically included in the rent per sq ft calculation?

In many cases, utilities are not factored into the rent per square foot; however, this can vary. Some rentals may include certain utilities in the total rent, which would affect the effective rent per square foot.

Does this metric apply to both commercial and residential properties?

Yes, rent per square foot can be applied to both commercial and residential properties. It is a standard measurement used to compare the relative cost of renting different spaces.