Profile picture for user6460945

In the data report that you can download that lists metrics such as Zillow Home Value Index,.....

, Median Price Cut etc, what is the difference between 'Median rent list price ($)' and 'Zillow Rent Index', and also between 'Median rent list price / sq. ft. ($)' and 'Rent estimate / sq. ft. ($)?'

Thanks!
  • June 21 2013 - Chelsea
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Answers (1)

Profile picture for Blue Nile
Rent list prices are the owner/agent furnished numbers posted for the select properties advertised as for rent on this site.

Rent ESTIMATE numbers are generated as "machine opinions" for each home details page, using the "for rent" for modeling and generating the estimates.

(Though Zillow doesn't use linear regression for their modeling, you might look up the "LINEST" function in your Excel program, to see one method of modeling to multiple variables.  Zillow's modeling method is non-linear.)

Median just means one takes the "middle" number after sorting the prices or estimates in increasing order.  If there is an even number of properties in the selection set, you take the average of the two closest to the "middle".
  • June 21 2013
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