Zillow’s current city ZHVI, its typical home-value measure, is $406,745.98, and ZORI, its typical observed market rent, is $1,784.69 per month. They produce a 5.27% gross yield, using annualized ZORI divided by ZHVI, before every operating cost. City ZORI rose 5.01% year over year. The 6.36x price-to-income multiple and annual ZORI at 33.48% of median household income frame affordability, but neither is a mortgage-payment estimate.
City housing stock has 56.40% of occupied units renter-occupied and an overall vacancy rate of 8.36%. Single-family homes account for 67.49% of all units, compared with 4.77% in large multifamily buildings; this is tenure and structure context, not a count of purchasable or leasable units. ACS shows a $343,000 median home value and $1,315 median gross rent for surveyed occupied housing, with gross rent including contract rent and selected utilities. Those ACS measures use a different population, method, and period from Zillow’s city home-value and observed-market-rent measures, and should not be averaged.
Among city renter households, 55.42% report paying at least 30% of income toward gross rent. Vacancy reasons show 26.60% of city vacant units are for rent; the for-sale and seasonal categories describe housing stock, not active investment inventory. Across the overlapping ACS five-year vintages, city population changed 0.06%; this is not annualized and possible boundary differences limit comparison. Median household income is $63,974, the poverty rate is 21.49%, and the unemployment rate is 6.42%. These descriptive demand constraints and survey measures cannot establish a particular property’s tenant demand, lease-up, condition, or financial performance.
At the county level, FHFA’s house-price index rose 6.20% year over year, and the county property-tax rate is 0.755%; both are county context, not city measurements. In the broader metro, median days on market were 46 and 26.87% of listings had price drops; these are metro-wide sales conditions, not city outcomes. The national 30-year mortgage rate was 6.69%, a national financing benchmark rather than a city condition.
Main limitations are that city Zillow indicators do not describe a specific home, gross yield omits all operating and financing costs, and ACS results are survey context rather than transaction or listing data. Before underwriting any property, verify the exact asking price and achievable market rent with property-level comparables; inspect condition and deferred maintenance; obtain insurance, tax, utility, and financing quotes; confirm legal use and lease terms; and test vacancy, turnover, management, repair, and capital-reserve assumptions.