Rent per SQFT

Glossary

Rent per SQFT measures monthly rent per square foot, helping multifamily teams compare pricing across unit sizes and floor plans.

Definition

Rent per SQFT is the monthly rent for a unit divided by that unit’s square footage, usually shown as dollars per square foot per month. It standardizes rent so teams can compare units, floor plans, or properties of different sizes more fairly. In multifamily reporting, it is often reviewed alongside rent, market rent, net rent, occupancy status, and loss to lease.

Example

A 900-square-foot apartment renting for $1,800 per month has a rent per SQFT of $2.00. If a similar 750-square-foot unit rents for $1,650, its rent per SQFT is $2.20, showing that the smaller unit earns more rent per square foot.

Why It Matters?

Rent per SQFT helps operations leaders compare pricing across unit sizes without relying only on total monthly rent. It can highlight which floor plans are outperforming or underperforming, support market-rent reviews, and help teams evaluate the effect of concessions or net rent on revenue.

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