Rent Per Square Foot Calculator Formula

Understand the math behind the rent per square foot calculator. Each variable explained with a worked example.

Use the Rent Per Square Foot Calculator

Formulas Used

Monthly Rent Per Sq Ft

rent_per_sqft_month = monthly_rent / square_footage

Annual Rent Per Sq Ft

rent_per_sqft_annual = (monthly_rent * 12) / square_footage

Total Annual Rent

annual_rent = monthly_rent * 12

Variables

VariableDescriptionDefault
monthly_rentMonthly Rent(USD)2400
square_footageRentable Square Footage(sq ft)1200

How It Works

Rent Per Square Foot

Rent per square foot normalizes rental costs so you can fairly compare properties of different sizes.

Formula

Monthly $/Sq Ft = Monthly Rent / Square Footage

Annual $/Sq Ft = (Monthly Rent x 12) / Square Footage

Usage

  • Residential: typically quoted as monthly rate per square foot
  • Commercial: typically quoted as annual rate per square foot
  • Useful for comparing rentals across neighborhoods and property sizes

    • Worked Example

    An apartment rents for $2,400/month and has 1,200 square feet.

    monthly_rent = 2400square_footage = 1200
    1. 01Monthly rent per sq ft: $2,400 / 1,200 = $2.00/sq ft
    2. 02Annual rent per sq ft: ($2,400 x 12) / 1,200 = $24.00/sq ft
    3. 03Annual rent: $2,400 x 12 = $28,800

    Ready to run the numbers?

    Open Rent Per Square Foot Calculator