Pricing a rental property correctly is one of the most important decisions a landlord will ever make. Set the rent too high, and your property sits vacant, costing you hundreds or thousands of dollars each month. Set it too low, and you leave money on the table and devalue your asset. In a fast-moving market like Davis County, where neighborhoods such as Bountiful, Centerville, Farmington, Kaysville, and Layton each have their own rental micro-economies, understanding how to price a home requires more than checking Zillow and guessing.
At PMI Mountain West, we analyze rental pricing daily. Our team handles hundreds of inquiries each month from tenants across Davis County, giving us a pulse on what renters are actually willing to pay. Below is a deeper look at how to set a competitive, profitable rental price and the exact process we use to calculate it for owners.
Why Rental Pricing Matters More Than Most Landlords Think
Many owners assume pricing is a simple equation: “Cover the mortgage and add a little profit.” But renters don’t care about an owner’s mortgage. Renters care about value, location, amenities, and whether the home feels like a good deal compared to others on the market.
Correct pricing matters because:
Vacancy is far more expensive than a price adjustment
Every week a property sits vacant can cost a landlord between $450 and $800 in lost rent. A small rental price adjustment of $50 to $100 may fill a vacancy weeks faster, resulting in higher annual revenue, not less.Overpricing leads to low-quality applicants
When a home is priced above market, the only people who apply are renters struggling to get approved elsewhere. The strongest tenants won’t overpay. They simply choose another home.The first 7 to 10 days determine everything
Davis County renters are quick decision makers. If you’re not getting strong traffic in the first week, something is off, and it is usually price.
Understanding Davis County Micro-Markets
Davis County isn’t one market. It’s a mix of highly distinct rental zones. The difference in demand between East Bountiful and West Layton can be dramatic.
Bountiful and East Bench Areas
Demand: High
Renter Profile: Families, professionals, medical staff
Drivers: Proximity to Salt Lake City, strong schools, established neighborhoods
Impact on Price: Higher, especially for updated homes and larger layouts
Farmington (including Station Park)
Demand: Extremely high
Renter Profile: Professionals, commuters, families
Drivers: Newer construction, lifestyle amenities, shopping, freeway access
Impact on Price: Top-tier rental rates for Davis County
Kaysville and Fruit Heights
Demand: High
Renter Profile: Families seeking long-term stability
Drivers: Schools, neighborhood feel
Impact on Price: Strong, steady demand
Layton and Clearfield
Demand: High but competitive
Renter Profile: Hill Air Force Base employees, families, young renters
Drivers: Employment centers, newer rental communities
Impact on Price: Competitive market where quality wins over price
Understanding these local trends creates the foundation for accurate pricing.
PMI Mountain West’s 6-Step Approach to Setting the Right Rental Price
This is the same pricing system we use before launching every listing.
Analyze Comparable Rentals (Actual vs. Asking)
Most owners compare to asking rents. We compare to actual rented prices whenever possible because they reflect true market behavior. We look at:
Same bed and bath count
Similar age, updates, and amenities
Same neighborhood and school zone
Recent data from the last 60 to 90 days
This becomes the baseline.Evaluate Current Inventory and Competition
Renters shop by comparison. Before pricing your home, we check:
How many similar homes are active
How long they’ve been listed
Their pricing strategy
Photo quality, staging, and curb appeal
If there are three to five nearly identical rentals in one neighborhood, the price must match the competitive landscape, not a theoretical value.Measure Demand Indicators
Here are the metrics we monitor during the first 48 hours:
Click-through rate on listing sites
Lead volume
Tour booking conversions
Renter inquiry quality
If a property receives strong views but weak inquiries, the price is likely too high.Adjust for Condition and Upgrades
Two homes with identical square footage may rent for very different amounts depending on:
Modernized kitchens
Updated bathrooms
Flooring quality
Paint condition
Yard and exterior appeal
Air conditioning type
Basement finish quality
In Davis County, updated homes can command $150 to $350 more per month, especially near Bountiful, Farmington, and Kaysville.Factor in Timing and Season
The local rental calendar follows a predictable pattern:
March through September brings the highest demand
October through February is softer and often requires incentives or pricing adjustments
Winter listings almost always require a stronger pricing strategy.Leverage Real-Time Data From Thousands of Renter Interactions
Because we manage hundreds of inquiries and dozens of showings each week, we can see patterns quickly:
Which neighborhoods are hot
What renters prioritize
Common dealbreakers
Expected price ranges by property type
This real-world feedback is the most accurate predictor of actual rent.
How Owners Typically Misprice Their Homes
The three biggest traps we see are:
Pricing based on mortgage instead of market value
The market doesn’t care about your payment.Adding too much value for personal updates
Granite countertops installed ten years ago do not justify premium rent today.Relying on national websites
Zillow, Rentometer, and similar tools are often off by 10 to 20 percent in Utah due to a lack of hyperlocal data.
How PMI Mountain West Helps Owners Maximize Rent
Owners choose us because we don’t guess. We track, measure, and adjust.
We use:
Professional photography
Syndication to more than a dozen rental websites
Walk-through video tours
Weekly marketing updates
A tested pricing strategy
Local Davis County expertise
Data-driven adjustments
An owner-focused marketing plan
Our process minimizes vacancy, attracts better tenants, and maximizes long-term NOI.
Final Thoughts
Setting the correct rent in Davis County is both an art and a science. It requires data, local insight, property condition analysis, and a marketing plan that performs from day one. With PMI Mountain West, owners gain a pricing strategy that is proven, transparent, and customized to their exact home.
