At June 2026, Zillow’s typical observed asking-rent index for ZIP 19132 is $1,420 per month. ZORI blends observed asking rents across rental types, so it is a market index rather than a quote for a specific unit. Its 6.33% same-month 1-year advance follows annualized same-month changes of 5.58% over 3-year and 6.22% over 5-year periods. The recent direction therefore confirms, rather than breaks from, the longer upward path. These measurements describe history ending at the stated date; they neither forecast the next asking rent nor constitute an investment recommendation. The useful starting point is a rising but type-blended ZIP-level asking-rent reading whose property relevance still requires verification before comparing it with a particular listing.
That upward history does not make any individual month precise. Annualized variability of monthly returns is 4.09%, and maximum drawdown was -4.24%, placing the series in the supplied high-variability category despite 99.07% coverage. That combination supports confidence that the history is broadly present while calling for less confidence in a single current snapshot as a stable property-price proxy. Transparent national discovery ranks among history-eligible ZIPs are 160 for momentum, 2,645 for stability, and 971 for the balanced measure; lower ranks are stronger. They summarize backward-looking series behavior, not demand forecasts, comparable-property grades, or investment recommendations. Live property detail remains necessary alongside this index.
Broad benchmarks point in another direction. The Philadelphia city Zillow asking-rent context and Philadelphia County Zillow asking-rent context are each $1,814, while the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metro Zillow asking-rent context is $1,928; each is wider context only, not a substitute market boundary for this ZIP. The local index is below all of those named measures, but the comparison does not identify the source of the difference or make a particular home comparable. City, county, and metro readings cover broader, differently composed rental universes than this ZIP. A metro apartment-market measure and a ZIP-wide blended asking-rent index should be used as scale context, not merged into one local rent estimate.
The matched Census ZCTA supplies a separate, slower-moving benchmark: in the ACS 2024 five-year survey, median gross rent was $1,095. ACS measures occupied renter homes, and its gross-rent concept includes selected utilities; it is neither an asking-rent series nor a count of units currently marketed. The current Zillow asking index is 29.7% above that ACS median, a difference to read as a source-universe distinction as much as a price gap. The five-digit label 19132 is both Zillow’s ZIP market identifier and a matched Census ZCTA; a ZCTA is a Census statistical area and is not identical to a USPS delivery ZIP. Its survey geography and timing must therefore remain distinct from the direct Zillow ZIP series.
Bedroom sizing requires a third evidence universe. HUD FY2026 FMR/SAFMR is an administrative, bedroom-specific standard, not asking rent. Scaling ZIP ZORI using the local HUD ladder yields modelled monthly ZIP estimates of $1,100 for a studio, $1,190 for one bedroom, $1,420 for two, $1,700 for three, and $1,900 for four. These are modelled estimates, never measured bedroom rents, completed leases, or evidence that a unit will rent at any listed level. The match between the two-bedroom modelled estimate and the current ZIP index follows the ladder mechanics, not a validation of every two-bedroom listing. Confirm the bedroom definition and included utilities at the property.
The stronger practical tension lies in the area-level income comparison. Applying the stated 30% screen to the current monthly asking index yields $56,800 in required annual income. This is arithmetic, not affordability advice and not an applicant qualification rule. The ACS median household income is $32,823, an area statistic that does not measure a prospective renter’s income, resources, household composition, or program eligibility. Separately, 52.4% of ACS renter households reported spending at least 30% of income on rent. That burden result is a historical survey condition, not proof that any particular unit is burdensome. Together, the income screen and burden share frame aggregate exposure to rent costs but cannot establish what an individual household can pay or what an owner will require.
Survey stock supplies an important constraint on interpretation. ACS records 17,714 housing units in the ZCTA, of which 3,241 were vacant, for an 18.3% survey vacancy rate. The stock count includes 14,324 single-family units and 1,065 units in large multifamily structures; 186 vacant units were classified for rent. These are area-level classifications, not a count of currently showable homes: neither broad vacancy nor the rent-classified count proves price, condition, availability, or affordability for a specific property. Before using this ZIP signal, check the exact address and ZIP designation, current advertised rent, bedroom count, square footage, utilities, fees, concessions, lease term, availability date, application criteria, and whether a relevant HUD standard applies. Those checks translate a blended index and broad survey into a unit-specific comparison.
","findings":[{"body":"The current ZIP ZORI and same-month history indicate that the latest annual movement is consistent with the longer observed increase rather than a reversal. However, supplied return variability and drawdown describe an uneven historical path. The index is backward-looking and blended across rental types, so a listing should be compared using its actual current terms rather than treated as interchangeable with the ZIP reading.","title":"Rent history is upward but not smooth"},{"body":"Zillow ZORI is a typical observed asking-rent index. ACS median gross rent describes occupied renter homes in a survey universe that includes selected utilities. HUD FMR/SAFMR is a bedroom-specific administrative standard. The modelled bedroom amounts use the HUD ladder to scale the ZIP index; they are not measured bedroom rents, leases, or listing quotes.","title":"Keep rent evidence universes separate"},{"body":"The required-income figure follows a mechanical share-of-income calculation and is not advice, a qualification standard, or a statement of eligibility. Median household income and the renter burden share are ACS area measures. They can show aggregate exposure to rent costs, but they do not reveal a prospective renter’s income, assets, household needs, or the terms for a particular property.","title":"Income comparison is a screen, not a verdict"},{"body":"ACS vacancy and housing-stock counts describe a ZCTA survey snapshot, while the vacant-for-rent category does not establish that a home can be toured or leased today. Broad counts do not identify condition, asking price, incentives, utility responsibility, or lease timing. Confirm the address, advertised terms, unit configuration, fees, and availability directly before making a property-level comparison.","title":"Vacancy is not live availability"}],"risks":["The current ZORI is a ZIP-wide, type-blended asking-rent index. A particular property may differ in bedroom count, included utilities, condition, fees, concessions, lease terms, and timing, none of which the index resolves.","The ACS result is a five-year ZCTA survey rather than a current listing inventory. Its geographic statistical boundary is not identical to USPS delivery ZIP geography, and its gross-rent measure includes selected utilities.","HUD FMR/SAFMR standards and the HUD-scaled bedroom estimates should not be substituted for a live asking-rent quote. They are administrative and modelled reference points, not measurements of completed leases.","Area vacancy includes categories beyond units currently offered for rent, and the rent-classified count does not establish live availability, condition, pricing, or suitability at a particular address."],"qa":[{"a":"It is the ZIP-level ZORI at the stated endpoint: a typical observed asking-rent index that blends rental types. It is not a unit-level advertised quote, signed lease, or bedroom-specific measurement. Its history helps describe past movement, but verification of the current property terms is required before comparing a home with the index.","q":"What does the current Zillow rent figure represent?"},{"a":"They use different populations, concepts, and timing. ACS is a five-year survey of occupied renter homes and gross rent includes selected utilities, whereas Zillow observes asking rents across rental types. The gap is therefore not a direct mark-up for a comparable unit and cannot establish a property’s correct asking rent.","q":"Why is ACS median gross rent lower than the Zillow index?"},{"a":"No. They are modelled monthly ZIP estimates created by scaling the ZIP ZORI with the local HUD FMR/SAFMR bedroom ladder. HUD values are administrative standards, not asking rents. The estimates should not be interpreted as measured rents, completed leases, or evidence that every unit with that bedroom label rents at that amount.","q":"Are the bedroom values observed rents?"},{"a":"Verify the exact address and ZIP designation, present advertised rent, bedroom and square-footage description, utility inclusions, fees, concessions, lease duration, availability timing, and application terms. Also determine whether a HUD standard is relevant to the specific use. These checks matter because ZCTA survey statistics, broader-market context, and ZIP-level indexes do not describe an individual home.","q":"What property-level checks are still necessary?"}],"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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rents","release":"Metro_zori_uc_sfrcondomfr_sm_sa_month.csv","pulledAt":"2026-07-26","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori_city","name":"Zillow ZORI — city market rents","release":"zillow_zori_city.csv","pulledAt":"2026-07-29","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori_zip","name":"Zillow ZORI — ZIP market rents","release":"ZORI ZIP 2026-06","pulledAt":"2026-08-08","url":"https://www.zillow.com/research/data/"}],"history":[{"period":"2017-07-01","rent":887.718421},{"period":"2017-08-01","rent":882.048885},{"period":"2017-09-01","rent":871.063925},{"period":"2017-10-01","rent":888.62755},{"period":"2017-11-01","rent":884.384099},{"period":"2017-12-01","rent":912.072762},{"period":"2018-01-01","rent":893.555863},{"period":"2018-02-01","rent":911.587382},{"period":"2018-03-01","rent":904.259242},{"period":"2018-04-01","rent":914.130239},{"period":"2018-05-01","rent":915.602679},{"period":"2018-06-01","rent":907.194491},{"period":"2018-07-01","rent":919.853955},{"period":"2018-08-01","rent":917.652573},{"period":"2018-10-01","rent":929.526198},{"period":"2018-11-01","rent":946.885625},{"period":"2018-12-01","rent":925.589129},{"period":"2019-01-01","rent":940.503406},{"period":"2019-02-01","rent":939.406512},{"period":"2019-03-01","rent":952.665653},{"period":"2019-04-01","rent":953.457893},{"period":"2019-05-01","rent":946.040203},{"period":"2019-06-01","rent":949.016608},{"period":"2019-07-01","rent":946.538178},{"period":"2019-08-01","rent":960.906507},{"period":"2019-09-01","rent":968.862621},{"period":"2019-10-01","rent":966.681279},{"period":"2019-11-01","rent":969.845467},{"period":"2019-12-01","rent":990.680488},{"period":"2020-01-01","rent":1003.966784},{"period":"2020-02-01","rent":1013.904833},{"period":"2020-03-01","rent":970.929606},{"period":"2020-04-01","rent":985.273392},{"period":"2020-05-01","rent":992.536261},{"period":"2020-06-01","rent":1005.62891},{"period":"2020-07-01","rent":1009.185879},{"period":"2020-08-01","rent":1004.473558},{"period":"2020-09-01","rent":1003.536692},{"period":"2020-10-01","rent":1005.907537},{"period":"2020-11-01","rent":995.955434},{"period":"2020-12-01","rent":986.255961},{"period":"2021-01-01","rent":1005.138549},{"period":"2021-02-01","rent":1036.60185},{"period":"2021-03-01","rent":1045.267994},{"period":"2021-04-01","rent":1041.969122},{"period":"2021-05-01","rent":1038.137977},{"period":"2021-06-01","rent":1049.881526},{"period":"2021-07-01","rent":1071.89152},{"period":"2021-08-01","rent":1097.502989},{"period":"2021-09-01","rent":1109.726282},{"period":"2021-10-01","rent":1101.43119},{"period":"2021-11-01","rent":1117.836047},{"period":"2021-12-01","rent":1122.990939},{"period":"2022-01-01","rent":1133.626718},{"period":"2022-02-01","rent":1130.945226},{"period":"2022-03-01","rent":1149.953247},{"period":"2022-04-01","rent":1144.882332},{"period":"2022-05-01","rent":1158.254292},{"period":"2022-06-01","rent":1161.098769},{"period":"2022-07-01","rent":1172.95626},{"period":"2022-08-01","rent":1167.878293},{"period":"2022-09-01","rent":1176.833326},{"period":"2022-10-01","rent":1188.022113},{"period":"2022-11-01","rent":1186.20105},{"period":"2022-12-01","rent":1198.289016},{"period":"2023-01-01","rent":1195.423502},{"period":"2023-02-01","rent":1200.962266},{"period":"2023-03-01","rent":1187.410687},{"period":"2023-04-01","rent":1210.904371},{"period":"2023-05-01","rent":1211.857954},{"period":"2023-06-01","rent":1206.268613},{"period":"2023-07-01","rent":1186.345629},{"period":"2023-08-01","rent":1192.073985},{"period":"2023-09-01","rent":1218.562314},{"period":"2023-10-01","rent":1239.389677},{"period":"2023-11-01","rent":1248.07113},{"period":"2023-12-01","rent":1241.43636},{"period":"2024-01-01","rent":1249.22896},{"period":"2024-02-01","rent":1244.832925},{"period":"2024-03-01","rent":1257.173211},{"period":"2024-04-01","rent":1256.980332},{"period":"2024-05-01","rent":1274.486276},{"period":"2024-06-01","rent":1294.968344},{"period":"2024-07-01","rent":1290.523581},{"period":"2024-08-01","rent":1286.155534},{"period":"2024-09-01","rent":1284.694148},{"period":"2024-10-01","rent":1298.583246},{"period":"2024-11-01","rent":1310.57105},{"period":"2024-12-01","rent":1314.61434},{"period":"2025-01-01","rent":1341.125532},{"period":"2025-02-01","rent":1363.459537},{"period":"2025-03-01","rent":1371.381593},{"period":"2025-04-01","rent":1349.348547},{"period":"2025-05-01","rent":1346.642566},{"period":"2025-06-01","rent":1335.297346},{"period":"2025-07-01","rent":1357.853608},{"period":"2025-08-01","rent":1371.167152},{"period":"2025-09-01","rent":1369.201759},{"period":"2025-10-01","rent":1358.794099},{"period":"2025-11-01","rent":1358.789078},{"period":"2025-12-01","rent":1370.391401},{"period":"2026-01-01","rent":1360.896394},{"period":"2026-02-01","rent":1360.269045},{"period":"2026-03-01","rent":1366.01442},{"period":"2026-04-01","rent":1393.626005},{"period":"2026-05-01","rent":1402.931124},{"period":"2026-06-01","rent":1419.855556}],"historySummary":{"pointCount":107,"firstPeriod":"2017-07-01","latestPeriod":"2026-06-01","coverageMonths":108,"coverageRatio":0.9907407407407407,"changes":{"1":{"years":1,"startPeriod":"2025-06-01","endPeriod":"2026-06-01","startRent":1335.297346,"endRent":1419.855556,"change":0.06332537861570797,"cagr":0.06332537861570797},"3":{"years":3,"startPerio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