So, you own a home in El Paso. Maybe you’re thinking about renting it out. Or maybe you already have tenants and you’re wondering:
“Am I charging the right rent?”
Great question.
Because when it comes to rental income, guessing is not a strategy. That’s where a Rental Market Analysis (RMA) comes in. Think of it as a cheat code for landlords. And yes, every smart homeowner should have one.
What Is a Rental Market Analysis?
A Rental Market Analysis is a report that compares your property with similar rentals in the area and provides a realistic rent estimate.
Even platforms like Zillow highlight how critical this is: set rent too low, and you lose income; set it too high, and you risk extended vacancies.
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Why You Need One (Yes, You)
1. You Might Be Undervaluing Your Property
A few dollars less per month adds up quickly. If you’re not charging enough, you’re leaving money on the table every single day.
2. Or You Could Be Overcharging
Charge too much, and your property sits vacant. That means no rent, no tenants—and definitely no profit.
3. Long-Term Rental Investors Rely on RMAs
As BiggerPockets explains, analyzing comparable rentals, projected ROI, and the classic 1% rule is essential to ensure your rent is both realistic and profitable.
Why El Paso Needs Focused Attention
El Paso’s rental market is unique. With influences from Fort Bliss, UTEP students, and a shifting local economy, demand changes quickly. That’s why you need data tailored to our city—not generic nationwide figures.
How to Perform a Basic RMA in 3 Steps
1. Apply the 1% Rule
As a quick benchmark: monthly rent should be around 1% of your home’s value (sometimes 0.8%–1.1%). This helps you gauge whether your rental income expectations are realistic. (SmartAsset, The Close)
2. Check Zillow’s Rent Zestimate
Zillow provides an estimated rent value based on property size, comparables, and location. It’s useful as a starting point, but don’t rely on it as the full story. (Zillow, Landlord Studio)
3. Compare Local Rentals (The Real Magic)
Look at at least five similar properties nearby. Compare rent per square foot, amenities, and neighborhood appeal—just like savvy investors do. (BiggerPockets)
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Why You Shouldn’t Do It Alone
Performing an RMA by yourself takes time, and you risk missing critical local insights. That’s why we offer a zero-cost, zero-stress Rental Market Analysis for El Paso homeowners.
With our RMA, you’ll get:
- A realistic rent range.
- Local comparable rentals.
- Smart, personalized advice from El Paso property pros.
Don’t guess your rental value—know it. A Rental Market Analysis can mean the difference between losing money and maximizing your property’s potential.
