What is the price-to-rent ratio for a condominium that rents for $1,200 per month and has a market value of $279,000?

Name: What is the price-to-rent ratio for a condominium that rents for $1,200 per month and has a market value of $279,000?
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Quizplus · Accepted Answer

The price-to-rent ratio is calculated by dividing the market value of the property by the annual rent income. Annual rent income is $1,200 * 12 = $14,400. So, the price-to-rent ratio is $279,000 / $14,400 = 19.375, which rounds to 19.4.

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