Rent zestimate что это
What is a Zestimate?
The Zestimate® home valuation model is Zillow’s estimate of a home’s market value. A Zestimate incorporates public, MLS and user-submitted data into Zillow’s proprietary formula, also taking into account home facts, location and market trends. It is not an appraisal and can’t be used in place of an appraisal.
How accurate is the Zestimate?
The nationwide median error rate for the Zestimate for on-market homes is 1.9%, while the Zestimate for off-market homes has a median error rate of 6.9%. The Zestimate’s accuracy depends on the availability of data in a home’s area. Some areas have more detailed home information available — such as square footage and number of bedrooms or bathrooms — and others do not. The more data available, the more accurate the Zestimate value will be.
These tables break down the accuracy of Zestimates for both active listings and off-market listings.
Active listings accuracy
Last updated: May 27, 2021
Off Market
Last updated: May 27, 2021
Note: The Zestimate’s accuracy is computed by comparing the final sale price to the Zestimate that was published on or just prior to the sale date.
How is the Zestimate calculated?
Zillow publishes Zestimate home valuations for 104 million homes across the country, and uses state of the art statistical and machine learning models that can examine hundreds of data points for each individual home.
To calculate a Zestimate, Zillow uses a sophisticated neural network-based model that incorporates data from county and tax assessor records and direct feeds from hundreds of multiple listing services and brokerages. The Zestimate also incorporates:
Currently, we have data for over 110 million U.S. homes and we publish Zestimates for 104 million of them.
What changes are in the latest Zestimate?
The latest Zestimate model is our most accurate Zestimate yet. It’s based on a neural network model and uses even more historical data to produce off-market home valuations. This means the Zestimate is more responsive to market trends & seasonality that may affect a home’s market value. We also reduced overall errors and processing time in the Zestimate.
My Zestimate seems too low or too high. What gives?
The amount of data we have for your home and homes in your area directly affects the Zestimate’s accuracy, including the amount of demand in your area for homes. If the data is incorrect or incomplete, update your home facts — this may affect your Zestimate.
To ensure the most accurate Zestimate, consider reporting any home updates to your local tax assessor. Unreported additions, updates and remodels aren’t reflected in the Zestimate.
Check that your tax history and price history (the sale price and date you bought your home) are accurate on Zillow. If data is missing or incorrect, let us know.
Be aware that the model that creates the Zestimate factors in changing market trends, including seasonal fluctuations in demand. So in some cases that may be the reason for a change in your Zestimate.
I just listed my home for sale. Why did my Zestimate change?
When a home goes on the market, new data can be incorporated into the Zestimate algorithm. In the simplest terms, the Zestimate for on-market homes includes listing data that provides valuable signals about the home’s eventual sale price. This data isn’t available for off-market homes.
My home is on the market. Why is the Zestimate so far off?
Properties that have been listed for a full year transition to off-market valuations because they have been listed longer than normal for that local market. This can result in a large difference between the list price and the Zestimate.
I just changed my home facts. When will my Zestimate update?
Updates to your home facts are factored into the Zestimate. However, if the updates are not significant enough to affect the home’s value (eg: paint colors), your Zestimate may not change. Zestimates for all homes update multiple times per week, but on rare occasions this schedule is interrupted by algorithmic changes or new analytical features.
How are changes to my home facts (like an additional bedroom or bathroom) valued?
The Zestimate is based on complex and proprietary algorithms that can incorporate millions of data points. The algorithms determine the approximate added value that an additional bedroom or bathroom contributes, though the amount of the change depends on many factors, including local market trends, location and other home facts.
Is the Zestimate an appraisal?
No. The Zestimate is not an appraisal and can’t be used in place of an appraisal. It is a computer-generated estimate of the value of a home today, given the available data.
We encourage buyers, sellers and homeowners to supplement the Zestimate with other research, such as visiting the home, getting a professional appraisal of the home, or requesting a comparative market analysis (CMA) from a real estate agent.
Why do I see home values for the past?
We generate historical Zestimates for most homes if we have sufficient data to do so.
Do you ever change historical Zestimates?
We occasionally recalculate historical Zestimate values along with major data upgrades or improvements to the algorithm. These recalculations are based on a variety of considerations and, therefore, not every new algorithm release will get a corresponding update of historical values.
However, we never allow future information to influence a historical Zestimate (for example, a sale in 2019 could not influence a 2018 Zestimate). Historical Zestimates only use information known prior to the date of that Zestimate.
Does the Zestimate algorithm ever change?
Yes — Zillow’s team of researchers and engineers work every day to make the Zestimate more accurate. Since Zillow’s founding in 2006, we have deployed multiple major Zestimate algorithm updates and other incremental improvements are consistently released between major upgrades.
How often are Zestimates for homes updated?
We refresh Zestimates for all homes multiple times per week, but on rare occasions this schedule is interrupted by algorithmic changes or new analytical features.
Are foreclosure sales included in the Zestimate algorithm?
No. The Zestimate is intended to provide an estimate of the price that a home would fetch if sold for its full value, where the sale isn’t for partial ownership of the property or between family members. Our extensive analysis of foreclosure resale transactions supports the conclusion that these sales are generally made at substantial discounts compared to non-foreclosure sales. For this reason, the Zestimate does not incorporate data about these sales.
Who calculates the Zestimate? Can someone tamper with my home’s Zestimate?
The Zestimate is an automated valuation model calculated by a software process. It’s not possible to manually alter the Zestimate for a specific property.
Can the Zestimate be updated?
Yes. The Zestimate’s accuracy depends on the amount of data we have for the home. Public records can be outdated or lag behind what homeowners and real estate agents know about a property, so it’s best to update your home facts and fix any incorrect or incomplete information — this will help make your Zestimate as accurate as possible.
You can also add info about the architectural style, roof type, heat source, building amenities and more. Remember: updating home information doesn’t guarantee an increase in the value of Zestimate, but will increase the Zestimate’s accuracy.
Does Zillow delete Zestimates? Can I have my Zestimate reviewed if I believe there are errors?
We do not delete Zestimates. However, for some homes we may not have enough data to provide a home valuation that meets our standards for accuracy. In these instances, we do not publish the Zestimate until more data can be obtained.
The Zestimate is designed to be a neutral estimate of the fair market value of a home, based on publicly available and user-submitted data. For this purpose, it is important that the Zestimate is based on information about all homes (e.g., beds, baths, square footage, lot size, tax assessment, prior sale price) and that the algorithm itself is consistently applied to all homes in a similar manner.
I don’t know of any homes that have sold recently in my area. How are you calculating my Zestimate?
Zestimates rely on much more than comparable sales in a given area. The home’s physical attributes, historical information and on-market data all factor into the final calculation. The more we know about homes in an area (including your home), the better the Zestimate.
Our models can find neighborhoods similar to yours and use sales in those areas to extrapolate trends in your housing market. Our estimating method differs from that of a comparative market analysis completed by a real estate agent. We use data from a geographical area that is much larger than your neighborhood — up to the size of a county — to help calculate the Zestimate. Though there may not be any recent sales in your neighborhood, even a few sales in the area allow us to extrapolate trends in the local housing market.
I’m trying to sell my home and I think my Zestimate should be higher.
The Zestimate was created to give customers more information about homes and the housing market. It is intended to provide user-friendly data to promote transparent real estate markets and allow people to make more informed decisions — it should not be used to drive up the price of a home. Zestimates are designed to track the market, not drive it.
Can I use the Zestimate to get a loan?
No. The Zestimate is an automated value model and not an appraisal. Most lending professionals and institutions will only use professional appraisals when making loan-related decisions.
I have two Zestimates for my home. How do I fix this?
If you see two Zestimates for the same property, please let us know by visiting the Zillow Help Center and selecting Submit a request. You may see more than one Zestimate for your address if you are a homeowner with multiple parcels of land. Zillow matches the parcels on record with the county. If you officially combine parcels, the county will send us updated information.
What’s the Estimated Sale Range?
How can real estate professionals work with the Zestimate?
Millions of consumers visit Zillow every month. When combined with the guidance of real estate professionals, the Zestimate can help consumers make more informed financial decisions about their homes.
Real estate professionals can also help their clients claim their home on Zillow, update the home facts and account for any work they have done on the property. A home’s Zillow listing is often the first impression for prospective buyers, and accurate information helps attract interest.
What Is the Rent Zestimate?
In this article:
How can you be sure you’re correctly pricing your rental to attract residents while still making money on your investment? Zillow’s Rent Zestimate tool helps provide a rent estimate by address. It’s a valuable starting point when determining the best monthly rate for your property, but remember that the Rent Zestimate is not set in stone — it’s a resource for homeowners who are pricing their rental properties.
What does Rent Zestimate mean?
A Rent Zestimate is Zillow’s estimate of a property’s monthly rental price. It is computed using a formula and is a starting point in determining the monthly rental price for a specific property. Currently, Zillow has data on more than 168 million homes, and a Rent Zestimate on 115 million of them.
How is the Rent Zestimate determined?
To come up with the Zillow Rent Zestimate, we look at several pieces of information, including:
We use the available data to determine the Rent Range, which is related to the Rent Zestimate. The Rent Range shows high and low rent estimates for an apartment or house — and the published Rent Zestimate will fall somewhere between the two, at a value we determine is most likely to represent a fair market rent.
The size of the range can vary depending on how much data we have for your area. A wide Rent Range means there’s less data available or more volatility in the data. A narrow Rent Range means there’s lots of information to help compute the estimated rent price.
Where can you find the Rent Zestimate on Zillow?
When we have enough data to calculate a Rent Zestimate, we’ll display it on the property’s page below the address and home details. The Rent Range will be displayed along with it in the Home Value section of your property’s page.
How do you increase the accuracy of your Rent Zestimate?
The Rent Zestimate’s accuracy depends on the home data that’s available. If you want to increase the accuracy of your Rent Zestimate, the easiest way is to provide us with more property details so we can better understand your rental’s value.
How does the Rent Zestimate help your tenants?
The Rent Zestimate can also help renters figure out their budget when considering a new home. While 50% of renters stay within the budget they planned, 31% spend more than they budgeted and 19% end up under budget. When you use data-based pricing for your unit, you can help prospective renters decide if the price seems competitive and fair for what you’re offering.
Finding a new renter can be exciting — but it can also be stressful. Zillow Rental Manager helps ease that stress by giving landlords a quicker and easier way to fill vacancies.
What is a Rent Zestimate?
What is a Rent Zestimate?
A Rent Zestimate (pronounced ZEST-ti-met, rhymes with estimate) is Zillow’s estimated monthly rent price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. The Rent Zestimate is pulled from public property data and similar local properties listed for rent; there may be special features, location, and market conditions our algorithms have not taken into account. Variations in rental price can also occur because of negotiating factors, special incentives, and length of lease. We encourage renters and landlords to supplement Zillow’s information by doing additional research such as:
What’s the Rent Range?
I am a landlord and my Rent Zestimate is too low – or too high. What gives?
As we said, the Rent Zestimate is a starting point in figuring out the estimated price of a rental. For one thing, the amount of information and data we have affects the Rent Zestimate accuracy. If your home facts are incorrect, this will affect your Rent Zestimate. However, you can update your home facts, which may affect your Rent Zestimate.
How does the amount of data affect it?
It affects it a great deal. For example, the number of rental listings in a geographic area affects how much we know about prevailing rental prices in that area for apartments and homes. The more rental listings we have, the more data we have to work with and the more accurate the Rent Zestimate will be. Also, we use public data for house attributes, and some areas report more data than others. The more attributes we know about homes and apartments in an area (including yours), the better the Rent Zestimate. Remember that homeowners can also update their home facts if they feel they are incorrect, and that could affect the Rent Zestimate.
How is the Rent Zestimate computed?
Our statisticians compute this figure by taking public data and rental listing data and entering them into a formula, creating a “proprietary algorithm” — big words for “secret formula.” Currently, Zillow has data on 100 million homes and we calculate a Rent Zestimate on 90 million of those homes.
What’s in this formula?
When our statisticians developed the model to determine rent prices, they explored how apartments and homes in certain areas were similar (i.e., number of bedrooms and baths, and a myriad of other details) and then looked at the relationships between actual rent prices and those home details. These relationships form a pattern, and they used that pattern to develop a model to estimate rental prices.
Why do I see Rent Zestimate prices for the past?
We not only have Rent Zestimates for apartments and homes that are now for rent, but we have gone back in time to generate historic Rent Zestimates as well. This allows you to see how an apartment or home’s Rent Zestimate has changed in a chart that looks just like a stock table.
How accurate is the Rent Zestimate overall?
Our accuracy depends on the home data we receive; see our Data Coverage and Rent Zestimate Accuracy table to see how accurate we are in your area. (You can refine the Rent Zestimate by updating the home facts for the apartment or home if they are outdated).
Who calculates the Rent Zestimate and how do they do it?
We have a team of statisticians who work all day – and some nights – with a huge amount of data to produce the Rent Zestimate. They live and breathe pricing models and tweak algorithms to get us as close as possible to the actual rent price.
Where does all the information come from? How can you know all this stuff?
It all comes from public data and similar local properties that are listed for rent. Zillow has done the legwork to gather all of this data from many sources and has created something unique – a Rent Zestimate of an apartment, home, condo or townhome.
Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, please let us know.
Zillow, Inc. holds real estate brokerage licenses in multiple states. Zillow (Canada), Inc. holds real estate brokerage licenses in multiple provinces. A list of our real estate licenses is available here.
TREC: Information about brokerage services, Consumer protection notice
California DRE #1522444
For listings in Canada, the trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
Blog Topics
Featured Post
How Much Does It Cost to Move?
By Mary Boone on 23 Mar 2018
The dollars and cents that go into moving vary greatly depending on a number of factors.
Zillow Tools
Zillow’s signature home valuation tool — the Zestimate — just got an upgrade.
The Zestimate is now more accurate than ever, thanks to new technology that identifies and values home improvements you’ve made based on photos. Plus, we now incorporate even more data into Zestimates for homes on the market, and we update those Zestimates in real time. That’s in addition to the millions of data points that the Zestimate’s complex machine learning models examine for more than 100 million homes across the country.
Here’s the rundown of what’s new.
‘Seeing’ your home features
We can evaluate photos of a home to, in a sense, “see” and value the home features you’re most proud of. Think of the bathroom you remodeled, the new quartz countertops in your kitchen or the beautifully landscaped backyard. Those features now factor directly into your home’s Zestimate, making it the first time the Zestimate can understand not just a home’s facts and figures, like number of bathrooms or bedrooms, but also its quality and curb appeal.
We heard from homeowners over the years that when it comes time to sell, they want to make sure all the work they’ve put toward upgrading it is reflected in its Zestimate. Yet before recent advances in technology, there was no way for computers to look at photos of a home and get the same information that people do. The Zestimate now incorporates advanced technologies that make this possible.
Homeowners can claim their home on Zillow to edit, add or remove photos at any time in just a few simple clicks.
Listing info added in real time
On homes listed for sale, the Zestimate now incorporates data from the home’s listing itself — including listing price and how long it has been on the market — in its calculations. These factors provide important insight into a homeowner and agent’s listing strategy and what the homeowner believes their home is worth, both key variables in how much a home ultimately sells for.
To top it off, Zestimates on for-sale homes update with new information in real time. That means home shoppers get an up-to-the-second snapshot of what’s going on in the local housing market. When the Zestimate launched in 2006, it was updated monthly, so this is a big leap forward as both buyers and sellers navigate dynamic and ever-changing housing markets.
The results of all these upgrades? The Zestimate’s error rate on homes listed for sale is now less than 2%, meaning half of all Zestimates fall within 2% of the home’s eventual sale price.
Just as you look for new ways to refresh your home, we’re always working to improve the Zestimate. This most recent Zestimate refresh is another milestone along that journey, all to provide a more accurate look at the value of the place you call home.
Rent zestimate что это
Zillow’s Zestimate forecast is a forecast of the change in an individual property’s Zestimate over the next 12 months. The Zestimates themselves are a time series of Zillow’s estimated home value for a particular property over time. More information on Zestimates can be found here. The forecasts are our best prediction for the Zestimate of a particular home one year from now, given the data that is currently available. These forecasts will not have a direct impact on the Zestimate in 12 months, which incorporates any relevant new data between now and then.
Methodology
To forecast a path for the individual Zestimate, we rely on two different types of data. The first is the county level Zillow Home Value Forecast which forecasts the Zillow Home Value Index (ZHVI) and is produced using a variety of economic and housing data. The forecast is combined with data on the individual characteristics of the property, including its features and the past behavior of its Zestimate. This methodology section will concentrate on how those aggregate forecasts, in combination with property characteristics, are used to construct the forecast for a particular property. Broadly, the forecast is constructed by first forming a prediction for the Zestimate one year from now (a point forecast), which is then interpolated to construct a path for the Zestimate between now and then.
Point Forecast
Several academic papers have documented that certain segments of the housing market display more volatility than others, even at very specific geographic levels. For example, Guerrieri, Hartley and Hurst (2010), looking at zip code level data, document that areas on the boundaries of rich neighborhoods are the most price sensitive (rising most during booms and falling most during busts), while Landvoigt, Piazzesi and Schnieder (2013) document in San Diego that individual homes in poorer neighborhood appreciated fastest during the run up of the housing bubble. Based on these findings, we model the appreciation for individual properties as: 
Where Zestimatei,t denotes the current Zestimate for a particular property i, and Zestimate f i,t+12 denotes our prediction for the Zestimate of that property in 12 months. Taken together, the left hand side of this equation is the predicted percentage appreciation of the specific property. Similarly, CountyZHVIi,t is the current ZHVI for the county in which the property resides, while CountyZHVI f i,t+12 denotes our prediction for the ZHVI of that county in 12 months.
The function f(PropChar) specifies how we expect an individual property’s Zestimate to perform relative to the county’s ZHVI as a function of the individual characteristics of a property. To specify the function f(PropChar) we first define: 
Then the function f(PropChar) is specified as follows:
f(PropChar)=α+β*HedonicCharacteristics+γ*ZestRelApprect
Where HedonicCharacteristics refers to a vector of housing characteristics and includes the number of bedrooms, bathrooms, finished square footage and if the home is on the higher or lower end of properties in the area. If, for example, in a region where one bedroom homes have tended to vary quite sharply with the market while four-bedroom homes tend to be less volatile in a given region, the estimation might suggest that a particular one-bedroom property might be expected to appreciate or depreciate twice as much as the rest of the county they are in, whereas a particular property with four bedrooms might be expected to appreciate or depreciate half as much as the county as a whole. ZestRelApprect is the rate of appreciation (or depreciation) the home has experienced in the past year relative to the county as a whole. A large body of academic work (for example Case and Shiller [1989]) has found evidence for momentum in housing prices – homes which rise (fall) in value one year are more likely to rise (fall) again the next year. This is already incorporated into how Zillow constructs its forecasts at the county level, but including past appreciation in our specification for f(PropChar) allows us to capture this feature for individual homes. The coefficients in this equation are estimated cross-sectionally using data from the prior year.
Forecast Path
Having computed the predicted Zestimate in 12 months for a property, the path for the Zestimate is interpolated using a cubic spline, which smoothly connects the forecasted value to the current value of the Zestimate. As a guard against over-fitting, this spline is then shrunk towards the forecast for the county as a whole, with the shrinkage weights gradually declining over time.
Geographical Coverage and Historical Forecast Accuracy
Currently the Zestimate forecast is available for more than 50 million individual properties spanning 550 counties across the United States. The predictive accuracy of these one-year forecasts was assessed by back-testing the model over the past five years. Back-testing consists of running forecasts on historical data where the forecasted value is produced from out-of-sample data. The below table summarizes the average absolute percentage error of the 12-month forecast. The average is taken over all properties. This forecast error is compared to a naive forecast based on a simple random walk model, and to simply extending our county forecast to individual properties. The construction of a property-specific forecast significantly improves accuracy.
| Model | Average Absolute % Error | Improvement over Naïve |
| Naïve Forecast | 7.35% | 0% |
| County Forecast | 6.47% | 11.9% |
| Zestimate Forecast | 5.84% | 20.5% |
References
Case, Karl E. and Shiller, Robert J. (1989), “The Efficiency of the Market for Single-Family Homes” The American Economic Review
Guerrieri, Veronica and Hartley, Daniel and Hurst, Erik, (2013), “Endogenous Gentrification and Housing Price Dynamics” Journal of Public Economics
Landvoigt, Tim and Piazzesi, Monika and Schnieder, Martin (2013), “The Housing Market(s) of San Diego” NBER Working Paper 17723