What is net effective rent?

Net effective rent is the true average monthly cost after factoring in concessions. If an apartment is $3,000/month with 2 months free on a 12-month lease, you pay $30,000 total instead of $36,000. Net effective rent = $30,000 ÷ 12 = $2,500/month.

How do I compare apartments with different concessions?

Convert everything to net effective rent. Apartment A: $3,000 with 2 months free ($2,500 effective). Apartment B: $2,700 with 1 month free ($2,475 effective). Apartment B is actually cheaper despite a lower concession. Our calculator does this comparison automatically.

Do free months affect my rent after the lease?

Usually yes — when you renew, the landlord will charge the listed (gross) rent, not the net effective rent. A $3,000 apartment with 2 months free is still a $3,000 apartment at renewal. Factor this into your long-term budget.

How do roommates affect net effective rent?

The net effective rent per person is simply the total divided by the number of roommates. Our calculator shows both the total and per-person amounts for easy roommate comparison.

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Net Effective Rent Calculator

Apartment listings with "2 months free" or "no broker fee" are hard to compare. This calculator converts any concession package into a single number — net effective rent — so you can compare apartments fairly. Add up to 10 apartments and see them ranked by true monthly cost.

By Baljeet AulakhUpdated February 2026Reviewed for accuracy

Apartment listings with free months and concessions are hard to compare at face value. This calculator converts any deal into net effective rent — your true average monthly cost over the full lease term. Add up to 10 apartments with different concession packages, free months, and fees to see them ranked by actual cost. Split the results by roommates to find the cheapest option per person.

Listed Rent

Free Months

Lease Term (months)

Move-In Concession

One-time discount or gift card

Other Monthly Fees

Parking, pet rent, amenity fees, etc.

Listed Rent

Free Months

Lease Term (months)

Move-In Concession

One-time discount or gift card

Other Monthly Fees

Parking, pet rent, amenity fees, etc.

Roommates

Number of People Splitting Rent

Just you — no splitting

How This Calculator Works

Enter Your Details

Fill in amounts, people, and preferences. Takes under 30 seconds.

Get Fair Results

See an instant breakdown with data-driven calculations and Fairness Scores.

Share & Settle

Copy a shareable link to discuss results with everyone involved.

Frequently Asked Questions

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