Profile picture for user5653260

What's the difference between "rent" and "rent zestimate" on an apartment listing?

A listing I just looked up shows the following:
Rent: $755/mo
Rent Zestimate: $2,336/mo
Why are the two so different? What's the actual rental price of this apartment… is it really $755 per month? If so, why is the "zestimate" over 2k? I'm very confused as to what the zestimate is telling me and how it's different from the rental price.
Thanks so much!
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October 02 2012 - US
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Profile picture for wetdawgs
rent is the asking price.  Rent Zestimate is Zillow's estimated rental value.

Recently I've seen a number with a big spread like that which have been rental scams, so be cautious if you are looking for a rental.  Zillow's FAQ on scams and internet fraud is worthwhile reading (i.e. critical) before contacting any landlords.

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October 02 2012
Profile picture for Pasadenan
For more information on the "machine generated opinion of approximate rental value" (estimate), see Zillow's FAQ: "what is a Rent-Zestimate".

Yes, there should be a large tolerance range on the estimates... but I agree with Wet Dawgs, if the listed rent is that much below the rent prices in the area, it is likely a SCAM by someone that doesn't own the property and is only looking to collect the deposit money and first month's rent.  If they will not meet you at the property and open the door, they are not the landlord nor owner nor the property manager.

If it is not a "scam", there may be other issues with the property, such as drug dealers next door or across the street.  If it is being kept low for personal reasons, it won't be advertised on a national website.  Of course it could be section-8 "subsidized housing", but then it would have said so in the description.
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October 04 2012
Profile picture for user5653260
Thank you for the information! For this area, $755 is almost unheard of, while $2336 sounded about right. I was just curious which number to trust. I agree that it sounds a little fishy. 
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October 02 2012
 
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