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RentariIQRent-Reasonableness Certification

Report ID: U83AgjvsCWWD3X8H

Prepared: August 03, 2026

Rent-Reasonableness Certification for Demo Property · West Fargo, ND

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REASONABLE: the proposed rent of $2,300 does not exceed the rents of the comparable unassisted units ($2,095-$2,558) and is consistent with the market estimate of $2,368.

AI summary — generated from this report's data

The proposed rent of $2,300 for Demo Property · West Fargo, ND is within the range of comparable unassisted units, which spans from $2,095 to $2,558. This proposed rent is also consistent with the market estimate of $2,368. The average rent of the 8 comparable units is $2,359.

The proposed rent of $2,300 falls within the observed range of comparable rents ($2,095 - $2,558).
The market estimate of $2,368 is closely aligned with the comparable average rent of $2,359.
The reader should verify the specific attributes of the 8 comparable units to understand their alignment with the subject property.

Advisory read: The data suggests the reader weigh the consistency of the proposed rent with both the comparable unit range and the market estimate.

Rent-reasonableness determination

Reasonable

Proposed $2,300 vs. comps $2,095-$2,558

Estimate confidence

Measures how tightly the underlying data agrees — internal consistency, not verified real-world accuracy.

Proposed rent

$2,300

Under review

Comparable units

Unassisted

Comparable average

$2,359

Mean of comps

Comparable range

$2,095 - $2,558

Min-max

Market estimate

$2,368

12 comps

Reasonableness conclusion

REASONABLE: the proposed rent of $2,300 does not exceed the rents of the comparable unassisted units ($2,095-$2,558) and is consistent with the market estimate of $2,368.

Determination details

Subject unitDemo Property · West Fargo, ND

Proposed contract rent$2,300

Number of comparable units8

Comparable rent range$2,095 - $2,558

Comparable average rent$2,359

Market rent estimate$2,368

Market range$2,262 - $2,485

Reasonable ceiling used$2,558

Comparable unassisted units (8)

Comp	Rent	Beds	Baths	Sqft	Distance	Source
#1	$2,345	4	2	2,110	0.45 mi	Market listing
#2	$2,495	4	2	2,110	0.50 mi	Market listing
#3	$2,445	4	2	2,110	0.51 mi	Market listing
#4	$2,345	4	2	2,180	0.25 mi	Market listing
#5	$2,295	4	2	2,180	0.38 mi	Market listing
#6	$2,558	4	2	2,176	0.50 mi	Market listing
#7	$2,095	4	2	2,176	0.52 mi	Market listing
#8	$2,295	4	2	2,048	1.30 mi	Market listing

HUD 24 CFR 982.507 requires at least 3 comparable unassisted units; the rent must not exceed rents charged for comparable unassisted units.

Adjustment factors considered

Comparability reflects the objective factors HUD lists at 24 CFR 982.507(b): location, unit size (bedrooms/bathrooms and square footage), unit type, age, quality, and amenities as captured in the comparable listings. The weighted estimate normalizes each comparable by proximity, recency, and size similarity to the subject. No protected-class, demographic, or neighborhood-quality factors are used. Where a comparable differs materially in size or amenities, the analyst should apply and document a rent adjustment before finalizing the certification.

Prepared in the format of HUD 24 CFR 982.507 (rent reasonableness for the Housing Choice Voucher program).
Proposed rent = proposed_rent input (falls back to current_rent, then to the market estimate).
The reasonable ceiling is the higher of the maximum comparable rent and the estimate's upper band.
This is a decision-support analysis, not an official Public Housing Authority rent-reasonableness determination; the PHA remains responsible for the final certification.
Comparables are unassisted market units; no assisted rents are used.

Report generated on August 03, 2026. Figures are retrieved live or from a short-lived cache (up to 30 days for some public-data sources), so a figure may pre-date this report — each context card states its own data vintage. Comparable recency is shown per comp; county assessment figures reflect the assessor's latest published tax year; HUD figures reflect the current published fiscal year.

Rentari IQ rent estimates are informational market references, not pricing instructions. They are generated from your own property data, real comparable market listings, and — where local listing data is limited — AI-estimated market references (clearly labelled as such), never from other landlords' confidential rents, to support your own independent pricing decisions. You set your rents; Rentari does not. Every estimate is an advisory data point, and you remain solely responsible for the rent you charge. Estimates are not appraisals or legal advice and do not account for fair-housing, rent-control, or local pricing laws. Confirm every rent independently and comply with all applicable federal, state, and local requirements.

Disclaimer

This report is for informational purposes only and does not constitute financial, legal, investment, tax, or appraisal advice. Figures are drawn from the public and licensed data sources below and, where noted, AI-generated insights (Google Gemini) — always labelled as such. Please consult qualified professionals before making any decision.

Data sources

Rent comps & listings: RentCast · Property value, tax & assessment: ATTOM Data · Fair Market Rents & income limits: HUD (HUD.gov) · Demographics, income & housing medians: U.S. Census Bureau (American Community Survey) · New-construction supply: U.S. Census Bureau (Building Permits Survey) · Migration & income flows: IRS (Statistics of Income) · Employment, wages & rent inflation: U.S. Bureau of Labor Statistics · Flood zones & natural-hazard risk: FEMA (Flood Hazard Layer, National Risk Index) · Environmental screen & walkability: U.S. EPA (Superfund, AirNow, Walkability Index) · Seismic design values: U.S. Geological Survey · Mortgage market & rates: HMDA / Freddie Mac · Street View & geocoding: Google Maps · AI summaries & AI-estimated comps: Google Gemini (clearly labelled where used) · Your own executed leases: de-identified, from your account only