What Affects Property Rent at San Jose?

Abstract

Abstract This paper examines the various factors influencing property rent at San Jose. The study uses multiple regression to investigate ten variables and adopts forward selection, backward elimination, stepwise regression, Mallow’s Cp, and Adjust-R² to select the best model. Our findings suggest that an increase in the internal conditions of the property such as the number of beds and baths has positive effects on the rent. Geographical factors also have various influences on the rent, as the findings reveal that rent declines when the property is closer to San Jose State University, and overall rent for San Jose decreases with an increase in the longitude. Furthermore, rent for houses located in the community is higher than for non-community houses.