At issue in this ZIP is whether a current ZIP asking-rent benchmark aligns with the local renter and income picture, not what a particular listing will cost. The five-digit label 10467 is both Zillow’s ZIP market identifier and a match to a Census ZCTA; a ZCTA is a statistical area, not identical to a USPS delivery ZIP. Zillow’s typical observed asking-rent index, or ZORI, blended across rental types, was $2,504 per month in June 2026, up 11.7% year over year. That is the current market signal for this geography. Its blended construction means it is neither an offer for an available apartment nor an observed rent for a stated bedroom count, so the central decision question is how far that index can be carried before property-specific evidence is needed.
Income and tenure make the affordability comparison notable, but they do not convert an index into a household outcome. In the ACS matched ZCTA, the median household income was $49,330, with a $2,681 margin of error, and renters occupied 32,910 of 38,372 occupied homes, or 85.8%. Applying the $2,504 monthly index on a 30% rent-to-income screen produces a $100,160 annual required-income figure. That screen is arithmetic only, not advice or an applicant qualification rule. The ACS observed burden measure estimated that 17,899 of 32,910 renter households, or 54.4%, paid at least that threshold of income toward gross rent. It describes surveyed households rather than the burden, eligibility, or current payment of any particular prospective tenant or unit.
Bedroom comparisons require a separate construction. In FY 2026, scaling ZIP ZORI with the supplied local HUD ladder produces modelled monthly estimates of $1,816 for a studio, $2,107 for one bedroom, $2,504 for two bedrooms, $3,067 for three bedrooms, and $3,534 for four bedrooms. These modelled estimates retain the local HUD bedroom relationships; the two-bedroom value is the ZORI pivot. The supplied local HUD two-bedroom standard is $2,616, making the modelled two-bedroom estimate 4.3% below it. HUD FMR/SAFMR is an administrative, bedroom-specific standard, not asking rent. Because the estimates scale an index through that ladder, they are modelled estimates, not measured bedroom rents or evidence of unit-level availability or terms.
A direct comparison of Zillow with ACS must retain their different universes. The ACS 2024 five-year survey for the matched ZCTA reports a $1,522 median gross rent with a $43 margin of error for occupied renter homes. The current $2,504 Zillow index is 64.5% above that ACS median. This does not make either series wrong or turn the gap into a property-level change. ACS median gross rent is a five-year survey measure of occupied renter homes and includes selected utilities; Zillow ZORI is a typical observed asking-rent index blended across rental types. The comparison identifies distinct benchmarks, not an all-inclusive asking quote, a lease outcome, or a measure of any specific apartment.
Housing stock and vacancy add useful boundaries rather than listing-level evidence. The matched ZCTA contained 40,791 housing units, including 38,372 occupied units and 2,419 vacant units, for a 5.9% all-housing vacancy rate. Of the vacant units, 1,152 were classified for rent, 149 for sale, and 41 for seasonal use. The stock also included 3,192 single-family units and 26,235 units in the source’s large-multifamily category. The classification mix distinguishes survey categories, but vacant-for-rent is not a current listing inventory and does not establish a unit’s condition, bedroom count, available date, utilities, price, or tenant-specific affordability. The counts likewise do not explain why a home is vacant or whether it can be leased under a given set of terms.
Wider comparisons underscore the ZIP’s position without replacing ZIP-level evidence. In the City of New York scope, the context rent was $4,133.43 and the renter share was 67.2%; in the Bronx County scope, the context rent was $2,847 and the renter share was 79.9%; and in the New York-Newark-Jersey City, NY-NJ-PA metro scope, the context rent was $3,573. Each of these is a wider-scope context figure, and each rent benchmark exceeds the local ZORI. The city and county renter shares also sit below the ZIP’s renter share, but they cannot be combined with the matched ZCTA survey as one market measure. The supplied metro vacancy measure applies to apartments, whereas the ZIP vacancy rate covers all housing, so those vacancy figures are not like-for-like evidence.
The evidence leaves several property-level questions unresolved. ZORI supplies a market index, not the advertised rent, utility treatment, unit condition, bedroom layout, lease term, fees, or availability of a listing. ACS is a statistical survey with published margins of error, and its matched ZCTA geography does not make it a USPS delivery ZIP. The HUD ladder supplies a standard, not an observed quote. Concrete property-level checks are the current advertised monthly rent, every included or separately charged utility, the bedroom count and layout, the lease term and fees, the occupancy or availability status, and the address’s USPS delivery ZIP. Those checks determine whether the particular property fits the relevant comparison; none of the area-level measures can do so by itself.
","findings":[{"body":"Zillow’s June 2026 ZIP-level ZORI is $2,504 per month, following an 11.7% year-over-year increase. It is a typical observed asking-rent index across rental types, so it gives a current market benchmark rather than a quote for a specific available apartment. Its relationship to household income supports comparison, not a qualification judgment.","title":"Current ZIP asking-rent signal"},{"body":"ACS reports a $1,522 median gross rent for occupied renter homes in the matched ZCTA, while Zillow reports a $2,504 current asking-rent index. The difference is meaningful for framing a gap between benchmarks, but not for merging them. ACS is a five-year survey and includes selected utilities; ZORI is a blended asking-rent measure across rental types.","title":"ACS and Zillow answer different questions"},{"body":"The studio through four-bedroom figures are modelled estimates obtained by applying the local HUD bedroom ladder to the ZIP ZORI. They preserve the ladder’s relative bedroom scaling, with the two-bedroom estimate as the ZORI pivot. They are not measured bedroom rents, listing medians, or estimates of a unit’s rent after utilities, concessions, or fees.","title":"Bedroom figures are modelled"},{"body":"Among renter households in the matched ZCTA, the ACS burden measure estimates that 54.4% pay at least 30% of income toward gross rent. The same survey shows a renter-dominated occupancy base and a 5.9% all-housing vacancy rate. These area-level measures cannot establish the payment burden, availability, condition, or affordability of a particular apartment.","title":"Burden and vacancy are area indicators"}],"risks":["The Zillow index is a blended ZIP-market statistic rather than a feed of listings, so it may not match a unit’s bedroom count, condition, availability date, utilities, lease terms, or fees.","The ACS figures are matched-ZCTA, five-year survey estimates of occupied renter homes. Sampling margins of error and different timing mean they should not be treated as current asking rents or listing inventory.","The HUD FMR/SAFMR ladder is an administrative bedroom-specific standard. Scaling ZORI with that ladder produces modelled estimates only, which can differ from observed bedroom rents and cannot establish a property’s payable amount.","Vacant-for-rent counts and rent-burden shares are area aggregates with categories and denominators that differ from a listing. Neither confirms that any individual unit is vacant, accessible, affordable, or offered at a stated price."],"qa":[{"a":"The $2,504 figure is Zillow’s June 2026 ZORI for the ZIP market identifier. It is a typical observed asking-rent index blended across rental types. It is useful as a current market benchmark, but it is not a stated asking price, signed lease rent, or observed bedroom-specific rent for an individual property.","q":"What does the current ZIP rent figure represent?"},{"a":"The ACS $1,522 median is drawn from the matched ZCTA’s 2024 five-year survey of occupied renter homes and includes selected utilities. ZORI is a current ZIP asking-rent index blended across rental types. Their different coverage, timing, and rent definitions prevent the difference from being interpreted as a current property-level discount or premium.","q":"Why is the ACS median gross rent lower than ZORI?"},{"a":"No. The studio through four-bedroom values are modelled monthly ZIP estimates created by scaling the direct ZORI with the supplied local HUD ladder. The HUD FMR/SAFMR amounts are administrative bedroom-specific standards, not asking rents. Therefore, the modelled values do not report transaction rents, current listings, concessions, utilities, or the terms of a given apartment.","q":"Are the bedroom values actual observed rents?"},{"a":"City, county, and metro measures provide wider-scope context only and should not be combined with the ZIP ZORI or ZCTA survey values as if they share one universe. The income screen at 30% is arithmetic, not advice or eligibility. Vacancy and burden data describe local aggregates, never availability or affordability for a particular unit.","q":"How should context, vacancy, and income figures be interpreted?"}],"sources":[{"key":"apartment_list_time_on_market","name":"Apartment List Time on Market — listing liquidity","release":"Apartment List 2026-07","pulledAt":"2026-08-08","url":"https://www.apartmentlist.com/research/category/data-rent-estimates"},{"key":"apartment_list_vacancy","name":"Apartment List Vacancy Index — rental vacancy","release":"Apartment List 2026-07","pulledAt":"2026-08-08","url":"https://www.apartmentlist.com/research/apartment-list-vacancy-index-methodology"},{"key":"census_zcta_facts","name":"Census ACS five-year — ZCTA housing and income","release":"ACS 2024 5-year ZCTA","pulledAt":"2026-08-08","url":"https://api.census.gov/data/2024/acs/acs5.html"},{"key":"hud_zip","name":"HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback","release":"ZIP-CBSA 2025Q4 + SAFMR 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