vocabulary:
  name: RentCast Vocabulary
  description: >-
    Vocabulary and taxonomy for RentCast real estate data API covering property
    records, automated valuation models, rental and sale listings, and market
    statistics concepts.
  version: "1.0"
  created: "2026-05-02"
  modified: "2026-05-02"
  tags:
    - Real Estate
    - Property Data
    - Valuation

terms:

  # Property Types
  - term: Single Family
    definition: >-
      A detached residential dwelling unit on its own lot, occupied by
      one household. The most common residential property type in the US.
    category: Property Type
    tags: [Residential, Property Type]

  - term: Condo
    definition: >-
      A unit within a multi-unit building where the owner holds title to
      the interior unit while sharing ownership of common areas.
    category: Property Type
    tags: [Residential, Property Type]

  - term: Townhouse
    definition: >-
      A multi-floor attached home sharing one or two walls with adjacent units.
      Owners typically own both the interior and exterior of their unit.
    category: Property Type
    tags: [Residential, Property Type]

  - term: Multi-Family
    definition: >-
      A residential building with multiple separate housing units (2-4 units).
      Common investment property type for rental income.
    category: Property Type
    tags: [Residential, Investment, Property Type]

  - term: Apartment
    definition: >-
      A residential unit within a large multi-unit building (5+ units),
      typically renter-occupied and professionally managed.
    category: Property Type
    tags: [Residential, Rental, Property Type]

  # Data Concepts
  - term: AVM
    definition: >-
      Automated Valuation Model. A statistical model that estimates a property's
      market value or rent price based on comparable properties, location,
      and property characteristics without a physical appraisal.
    category: Valuation
    tags: [Valuation, Analytics]

  - term: Comparable Properties
    definition: >-
      Similar properties (comps) used as reference points in a valuation
      model. Selected based on proximity, property type, size, and recency
      of listing or sale.
    category: Valuation
    tags: [Valuation, Analytics]

  - term: Assessed Value
    definition: >-
      The value assigned to a property by the local tax assessor for
      property tax calculation purposes. May differ significantly from
      market value.
    category: Property Data
    tags: [Valuation, Tax]

  - term: Property Record
    definition: >-
      Public record data for a specific parcel including ownership information,
      physical characteristics, tax assessment history, and transaction history.
      Sourced from county assessor and recorder offices.
    category: Property Data
    tags: [Records, Public Data]

  # Listing Concepts
  - term: Active Listing
    definition: >-
      A property currently available for sale or rent on the open market.
      Status is active when the listing is accepting offers or applications.
    category: Listings
    tags: [Listings, Market]

  - term: Inactive Listing
    definition: >-
      A property listing that was previously on the market but is no longer
      active. Includes sold, rented, withdrawn, or expired listings.
    category: Listings
    tags: [Listings, Market]

  - term: Days on Market
    definition: >-
      The number of days a property listing has been active on the market.
      A key indicator of demand and pricing accuracy.
    category: Listings
    tags: [Listings, Analytics]

  - term: Long-Term Rental
    definition: >-
      A rental listing for a lease of 30+ days, as opposed to short-term
      vacation rentals. RentCast focuses on the long-term rental market.
    category: Rental
    tags: [Rental, Listings]

  # Market Statistics
  - term: Market Statistics
    definition: >-
      Aggregate data summarizing real estate market conditions for a geographic
      area (zip code). Includes average prices, listing counts, days on market,
      and price trends.
    category: Market Data
    tags: [Analytics, Market]

  - term: Rent Estimate
    definition: >-
      An AVM-generated estimate of the monthly rental price for a specific
      property based on comparable active and recent rental listings.
    category: Valuation
    tags: [Valuation, Rental]

  - term: Value Estimate
    definition: >-
      An AVM-generated estimate of the market sale value for a specific
      property based on comparable recent sales and active listings.
    category: Valuation
    tags: [Valuation, Sale]

  # Geographic Concepts
  - term: ZIP Code
    definition: >-
      A 5-digit US postal code used as the primary geographic unit for
      market statistics and location-based property searches in RentCast.
    category: Geographic
    tags: [Geographic, Market]

  - term: Search Radius
    definition: >-
      A circular geographic area defined by a center point (latitude/longitude)
      and radius in miles, used to filter property searches.
    category: Geographic
    tags: [Geographic, Search]