Determinants of Market Rent

G. Stacy Sirmans () and John D. Benjamin ()
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G. Stacy Sirmans: Department of Insurance, Real Estate and Business Law College of Business Florida State University Tallahassee, Florida 32306-1042, http://www.cob.fsu.edu/rmi/
John D. Benjamin: Department of Finance and Real Estate Kogod College of Business The American University Washington, D.C. 20016-8044, http://www.kogod.american.edu/

Journal of Real Estate Research, 1991, vol. 6, issue 3, 357-380

Abstract: Recent empirical work has investigated substantial lists of factors that have been employed to explain market rents for residential income property. These factors range from physical attributes to vacancy rates. To better understand the myriad factors that have been demonstrated to affect apartment rent and, in turn, the valuation of apartment complexes, this paper reviews the existing literature on the apartment rent determination process. Our analysis extends the extant contributions by discussing some of the consistencies and the unresolved issues concerning the factors employed in estimating apartment rent. This survey should provide information for appraisers who make market-derived rent adjustments, for property managers who set apartment rents, and for developers who design apartment projects.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1991
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Citations: View citations in EconPapers (20)

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