Apartment market survey: one comp sheet for every property you shop
An apartment market survey records what each competing property charges and offers, one form per property, so you can price your units against the real market. The 9-question comp sheet below covers rent by floor plan, specials, fees, availability and condition, all from information any renter can see.
- 35questions
- 9on the comp sheet
- 10 minper property
- 1 formper comp, yours included
By Michael Hodge, BSc Psychology Updated September 2026
Rent, fees, amenities and condition: the full comp form
Beside each question: the choices a shopper can tick, and what that answer says about the comp. Tick the ones you want, then open them as an online form your team fills in per property, print a comp sheet, or copy the list into a spreadsheet.
The comp sheet9 questions
Nine questions that give you a price comparison and a condition check for one property. Fill it in for every comp on the same day.
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Property name and address
Open answerOne form per property. Fill one in for your own community as well, so your answers sit beside the comps.
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Lowest advertised rent and square feet: one-bedroom and two-bedroom
Open answerRent divided by square feet puts a small unit and a large one on the same footing. Name the plan, not a range.
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Which special is advertised right now?
NoneUp to 4 weeks freeOver 4 weeks freeMoney off rentFees or deposit cutA special changes what renters really pay. The effective rent sum further down turns it into a monthly figure.
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Special terms: amount, floor plans, lease length, end date
Open answerFree weeks spread over a 15-month lease are worth less a month than the same weeks on a 12-month lease. The terms decide the value.
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Required monthly fees and amounts (trash, amenity, tech, parking)
Open answerMandatory fees are part of the monthly price. Leave them out and a low headline rent looks cheaper than it is.
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How many units are listed as available on the website today?
None1 to 56 to 1516 or moreNot shownListed availability is public. A long list that stays long for weeks points to a property about to cut price or add a special.
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Curb appeal: grounds, entrance and parking areas
Very poor12345Excellent1 = Very poor, 5 = ExcellentThe drive-by impression. A comp that looks tired has less room to raise rent, whatever its amenity list says.
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Condition of the shared amenities you saw
Very poor12345Excellent1 = Very poor, 5 = ExcellentA pool or gym on the list is not the same as one kept in good repair. This separates the two.
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Finishes in the model or listing photos: kitchen, floors and bathrooms
Very poor12345Excellent1 = Very poor, 5 = ExcellentFinish level is what renters compare on a tour, and it explains a rent premium better than the amenity list does.
Every floor plan and lease term5 questions
Add these when your community has studios or three-bedrooms, or when comps price by view, floor or lease length.
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Studio: lowest advertised rent and its square feet
Open answerStudios set the entry price of a submarket, and renters on a budget compare them first.
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Three-bedroom: lowest advertised rent and its square feet
Open answerFew comps offer three-bedrooms, so each one you find matters more to your own pricing.
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Premiums listed for a view, top floor, renovated unit or garage
Open answerShows how much of the rent gap sits in premiums rather than in the base price.
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Which lease lengths can a renter choose?
Under 6 months6 to 9 months12 months13 to 18 monthsOver 18 monthsTick all that applyFlexible terms win renters who are moving for a job or waiting on a house purchase.
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How much more a month is the shortest lease than a 12-month lease?
Same priceUnder $100 more$100 to $250 moreOver $250 moreNot quotedThe short-term premium shows whether a comp wants long leases or will pay for quick move-ins.
Move-in costs and fees5 questions
For the full cost of moving in. Renters add these up before they sign, so compare them the same way.
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Application fee per adult
NoneUnder $50$50 to $99$100 or moreNot shownThe first cost a renter pays, and one of the easiest to match.
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Security deposit for a one-bedroom
None or a deposit alternativeUnder $500$500 to one month of rentMore than one monthNot shownA low deposit can be worth more to a renter than a small rent cut, because it is cash on day one.
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One-time admin or move-in fee
NoneUnder $200$200 to $399$400 or moreNot shownOften waived as a special. Record the full fee here and any waiver in the special details.
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Pet costs: deposit, one-time fee, monthly pet rent and breed or weight limits
Open answerPet owners compare these line by line, and a single comp with no pet rent can pull them all.
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Which utilities are included in the rent?
Water and sewerTrashGasElectricInternetNoneTick all that applyIncluded utilities can close most of a rent gap. Adjust before you decide a comp is cheaper.
The building and its amenities5 questions
Building age plus tick lists of what each comp has, so you can see which features are standard in your submarket and which set a property apart.
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When was the property built or last fully renovated?
Before 19901990 to 20092010 to 20192020 or laterNot sureAge and renovation explain most rent gaps between comps. Compare like with like before you compare prices.
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Which unit features are included?
Washer and dryer in unitDishwasherBalcony or patioWalk-in closetSmart lock or thermostatCentral airTick all that applyA feature every comp has is expected. One that only you have is worth naming in your ads.
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Which community amenities are there?
PoolFitness centerDog park or pet washPackage lockersCoworking spaceEV chargingGated accessTick all that applyCount how many comps have each one. It shows where an amenity upgrade would stand out and where it would only catch up.
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Parking for one car
IncludedPaid, open lotPaid, covered or garageStreet onlyNot shownPaid parking is a monthly cost many renters miss until the lease. Add it to effective rent when it is required.
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Which services are offered?
Online rent paymentOnline maintenance requestsSelf-guided toursResident eventsValet trashTick all that applyServices cost less to add than amenities, so a gap here is the quickest one to close.
The leasing experience5 questions
Add these when a comp with similar rents keeps winning the leases. The difference is often in how the office sells, not in the building.
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How fast did the leasing office reply to an inquiry?
Within an hourSame dayNext dayTwo days or moreNo replyReply speed decides who gets the first tour. A comp that answers within the hour sets the bar.
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Which tour options are offered?
In person with an agentSelf-guidedLive videoRecorded videoNone offeredTick all that applyRenters moving from out of town choose the property they can see without a trip.
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How clearly pricing and specials were explained
Very poor12345Excellent1 = Very poor, 5 = ExcellentA renter who leaves unsure of the total monthly cost keeps shopping. Clear pricing closes.
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Cleanliness of the leasing office and tour route
Very poor12345Excellent1 = Very poor, 5 = ExcellentThe tour route is the part of the property every prospect sees. It should be the best-kept part.
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Was there a follow-up after the inquiry or tour?
Within 24 hoursWithin a weekNo follow-upFollow-up is where many leases are won. Compare it with your own team's habit.
How each comp sells itself6 questions
For the story each comp tells renters, online and on the tour. Most of it can be filled in from a desk before the drive-around.
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Website and listings: photos, floor plans and prices easy to find
Very poor12345Excellent1 = Very poor, 5 = ExcellentRenters shortlist online. A comp that shows clear prices and plans can win the tour before anyone visits.
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Google review rating
Below 3.03.0 to 3.43.5 to 3.94.0 to 4.44.5 or higherRenters read the rating before they call. A comp with a low rating and a low rent is competing on price alone.
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Where is the property advertised?
Own websiteApartments.comZillowFacebookSigns or banners on siteOther listing sitesTick all that applyShows where renters in your submarket are shopping, and which channels you are missing.
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What do their ads lead with: price, a special, a feature or the location?
Open answerThe headline a comp chooses tells you what it thinks renters want. Lead with something different.
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What do recent reviews praise or complain about most?
Open answerTheir residents' complaints are your selling points, as long as your own reviews do not repeat them.
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What does this property offer that we do not?
Open answerThe answer that turns a rent sheet into a plan: a feature to add, a message to change, or a price to defend.
How to do a market survey for apartments
Four habits turn a pile of rent quotes into a comparison you can set prices from, month after month.
Pick the properties a renter would tour instead
Start with six to ten communities a short drive away that a renter would weigh against yours: similar age, size, finish and unit mix. Add a new lease-up if it is pulling traffic, even when its rents sit above yours. Then fill in a form for your own property on the same day, so every number has a partner.
Rental listings offering a concession, spring 2026
Record the special every single time
Asking rent alone misleads when specials are common. In spring 2026, 39.8% of rentals listed on Zillow offered a concession, 5 percentage points more than a year before, and in Denver, Charlotte and Dallas the share passed 64%.1 Write down the amount, the lease length it applies to and the end date, then work out effective rent.
Build it from what any renter can see
Advertised rents, posted specials, amenities and listed availability are on the website, the listing sites, the signs and the brochure, and a leasing agent gives them to any prospect. That is the same list the Justice Department called public data in 2025, while it named occupancy, guest traffic, applications and signed-lease rents as competitively sensitive.2 This sheet sticks to the public list, which also makes every answer quick to check.
Same day, same floor plans, every round
Survey on a fixed weekday: weekly during a lease-up, a slow season or when a new building opens nearby, and monthly when the market is steady. Record the same floor plans each round. Rents move with the season, so a comp checked in March and again in June mostly tells you about the calendar unless the plans and the day stay fixed.
Running a regional call with several site managers? Put the specials question to everyone at once as a live poll on your call, and the chart shows which deals dominate each submarket before the full comp sheets come in. First time sharing one? This walkthrough on making polls shows each way to send it.
Turn every special into effective rent
Two comps with the same asking rent can cost a renter very different amounts. Run this sum on every form before you compare prices.
The sum
Effective monthly rent = asking rent, minus the value of the special divided by the lease months, plus required monthly fees. For free weeks, the value is the monthly rent times 12, divided by 52, times the number of weeks. Six weeks free at $1,500 a month is worth about $2,077.
A worked example
Comp B looks $75 cheaper on its website. Once the special and the fees are counted, it costs a renter more each month, and about the same per square foot.
| Line | Comp A | Comp B |
|---|---|---|
| Asking rent, one-bedroom | $1,650 | $1,575 |
| Special | One month free on 12 months | None |
| Special per month | minus $137.50 | $0 |
| Required fees per month | $40 | $85 |
| Effective monthly rent | $1,552.50 | $1,660 |
| Square feet | 780 | 820 |
| Effective rent per square foot | $1.99 | $2.02 |
The figures are made up to show the method. Use the lowest advertised rent for the same plan type at every comp, and the special for the lease length most renters sign.
Score the comp set side by side
Type how many of the properties you surveyed got each rating. The chart shows what the market does well and where the comp set is weak, so you know where your community can stand out.
- 1Enter, for curb appeal, amenities and finishes, the number of comps at each point from very poor to excellent. Keep your own property out of these counts.
- 2Where most comps score good or excellent, that is the standard renters expect in your submarket. Falling short of it costs tours.
- 3Where few comps score well, a strength of yours is worth putting in your ads and on your tour route.
- 4Set your own ratings beside the chart and check them against effective rent. A comp with better finishes at a similar effective rent is the one taking your leases.
Comp set ratings
What to record, and what to leave out
The left column is what any renter can see or be told. The right column is what the Justice Department listed as competitively sensitive in its 2025 rental housing settlements.
| Record: public data | Leave out: competitively sensitive |
|---|---|
| Advertised rent for each floor plan | Rents on signed leases |
| Specials offered to any prospect | Occupancy and vacancy figures |
| Units listed as available | Guest traffic and applications |
| Amenities, posted fees, lease lengths on offer | Terms and expirations of signed leases |
| Condition you can see on a visit | Pricing plans and software settings |
The proposed Greystar judgment defines public data as asking prices, publicly offered concessions, amenities and availability found on a property's website, at the building, in brochures or on listing sites, or given to someone presenting as a prospective renter.2 Its restrictions reach data gathered through "call arounds or market surveys",3 and the RealPage settlement requires the company to stop conducting market surveys to collect competitively sensitive information.4 Every question on this page asks only for the public kind, so each answer can be checked against a website or a listing.
Five things to record on every comp
Short on time? Rent for the two main floor plans, the live special and its terms, the required fees and listed availability give you an effective rent for each property in a few minutes online.
- 01Lowest advertised rent and square feet: one-bedroom and two-bedroom
- 02Which special is advertised right now?
- 03Special terms: amount, floor plans, lease length, end date
- 04Required monthly fees and amounts (trash, amenity, tech, parking)
- 05How many units are listed as available on the website today?
Print a comp sheet for each property
Take a stack on the drive-around or keep one per comp in the leasing binder. Both print cleanly whether your office uses letter or A4.
Market survey form
The 9-question comp sheet on page one, with space for rents, specials and fees. Optional sets fill the pages after it.
Download PDF
Comp set summary
Tally the condition ratings across every property you surveyed, then note where your community leads and where it trails.
Download PDFMarket survey questions that get a usable answer
Loose questions give answers you cannot price from. The four fixes below are for comp work; for other topics, browse survey questions by topic.
What are your rents?
Lowest advertised rent and square feet: one-bedroom and two-bedroom
A rent with no plan and no size cannot be compared. Ask for the lowest advertised price on named plans.
Any specials going on?
Which special is advertised right now?
Special terms: amount, floor plans, lease length, end date
A yes tells you nothing about price. The terms let you work out effective rent.
What is your occupancy right now?
How many units are listed as available on the website today?
Occupancy is private data the owner does not publish. Listed availability is public, and tracked round after round it shows the same pressure.
How nice is the property?
Curb appeal: grounds, entrance and parking areas
Finishes in the model or listing photos: kitchen, floors and bathrooms
One overall rating mixes the outside, the amenities and the units. Rate them apart and you see which one sets the rent.
What property teams ask about market surveys
Quick answers for the first round of comp calls.
How often should you do an apartment market survey?
Weekly while you are leasing up, in a slow season or when a new property opens nearby; monthly when the market is steady. Keep the weekday and the floor plans the same each round so a change reflects the market.
How many properties belong in a comp set?
Six to ten for most communities: the ones a renter would realistically tour instead of yours. A dense city may need more, and in a small town three or four may be all there is.
What is effective rent?
The monthly cost after a special is spread over the lease, plus required monthly fees. One month free on a 12-month lease at $1,650 takes $137.50 off each month. The effective rent example works through two comps.
Can I use these questions to survey my residents?
This set compares properties. To hear from the people who live with you, use the resident satisfaction survey, which asks residents about maintenance, safety, management and value for money.
Your comp sheet, ready for the next drive-around
Open the 9 core questions as a form your team fills in for each property, or print the market survey form and take it with you.
