For the five-digit 23112 Zillow ZIP market identifier, Zillow's June 2026 ZORI is $2,174 per month. ZORI is a typical observed asking-rent index blended across rental types, making it a market-level indicator rather than a quoted lease price for a particular home. Exact same-month historical changes were 7.16% over one year, 5.00% annualized over three years, and 6.14% annualized over five years. The latest pace therefore confirms the longer upward path and has accelerated relative to both longer comparisons; it does not break from that path. This history category is descriptive and backward-looking only: it does not forecast another increase or establish a property's achievable rent, renewal amount, or tenant experience.
Record continuity qualifies how much confidence belongs in one current snapshot. The series has 122 monthly observations through the stated endpoint, 121 consecutive monthly returns, and 100% coverage. Annualized monthly-return variability was 2.59%, while the maximum drawdown was -1.18%. Its transparent national discovery ranks are 166 for momentum, 866 for stability, and 95 for the balanced measure, where a lower rank is higher. These ranks and historical variation allow a reader to place more confidence in a snapshot than a discontinuous record would permit, but they are not investment ratings. They remain backward-looking measurements and cannot reveal the spread, condition, or availability of units offered today.
Separate source universes explain why a single rent label can differ materially. In the matched Census ZCTA, the ACS 2024 five-year survey reports a median gross rent of $1,764, with a margin of error of $44; this is 23.2% below the current asking index. ACS covers occupied renter homes and includes selected utilities, rather than advertisements. A ZCTA is a statistical area and is not identical to a USPS delivery ZIP. HUD's FY2026 local two-bedroom FMR/SAFMR is $1,655, an administrative bedroom-specific standard rather than asking rent. Thus, Zillow ZORI, ACS gross rent, and HUD are distinct evidence universes, with different coverage, purpose, and timing; their difference does not by itself identify the rent for any listed unit.
The bedroom view is deliberately a model, not another survey. It scales ZIP ZORI by the relative steps of the local HUD ladder: the modelled monthly estimate is $1,894 for a studio, $1,980 for one bedroom, $2,174 for two bedrooms, $2,722 for three bedrooms, and $3,354 for four bedrooms. The two-bedroom figure is the index anchor, while the other figures preserve HUD's local bedroom ratios around it. These are modelled estimates, never measured bedroom rents. They do not identify the rent of a unit with a given bedroom count because the index blends rental types and the HUD ladder is an administrative standard. Comparing a listing against this ladder therefore requires confirming its actual bedroom classification and advertised price.
The required-income screen translates the current monthly index into a transparent threshold. At 30% of gross income, the arithmetic produces $86,960 in annual income; it is arithmetic, not advice or an applicant qualification rule. The matched ZCTA's ACS median household income is $116,465, so annualized ZORI equals 22.4% of that median-income benchmark. A median, however, does not describe a particular renter's income. In the same ACS survey, 2,127 of 4,173 renter-occupied homes, or 51.0%, reported spending at least 30% of income on gross rent. This population-level burden statistic cannot prove affordability, financial stress, or qualification for a resident of any specific unit, especially because gross rent includes selected utilities.
ACS housing-stock counts show a predominantly owner-occupied setting without resolving what is rentable at a particular address. The ZCTA has 21,979 housing units and 518 reported vacant, an overall vacancy rate of 2.36%. Renter-occupied homes account for 19.4% of occupied housing. The recorded stock includes 19,013 single-family units and 1,204 units in large multifamily structures. Those counts describe survey classifications across the statistical area, not current listings, unit condition, turnover, or lease terms. Most importantly, an overall vacancy rate cannot establish that a suitable unit is open, nor can it demonstrate availability or bargaining conditions at a particular property.
Broader geography provides a price-reference tension but not a substitute market reading. As wider-context Zillow asking-rent index values, the Midlothian city scope is about $2,072, the Chesterfield County scope is $1,926, and the Richmond, VA metro scope is $1,772; each is context only, rather than a ZIP measure. Those scopes do not convert city, county, or metro conditions into conditions inside this ZIP. Before applying any aggregate figure to a property, check the listing date, quoted rent, bedroom count, unit type, whether selected utilities are included, lease term, fees, concessions, and stated availability. Which of those listing facts matches the asking-rent, gross-rent, or HUD measure being used?
","findings":[{"body":"Zillow's June 2026 ZIP asking-rent index is $2,174. Exact same-month change was 7.16% over one year, above 5.00% annualized over three years and 6.14% annualized over five years. The recorded path is therefore accelerating, but it remains a backward-looking index result rather than a forecast or an assertion about a particular property.","title":"Recent asking-rent growth accelerated"},{"body":"Zillow, ACS, and HUD answer different questions. The ACS 2024 five-year matched-ZCTA median gross rent of $1,764 covers occupied renter homes and selected utilities, while Zillow measures a blended asking-rent index. HUD's $1,655 two-bedroom FMR/SAFMR is a bedroom-specific administrative standard. The apparent gaps should therefore be interpreted as scope, timing, and methodology differences before being treated as price comparisons.","title":"The source gap is definitional, not a unit-level quote"},{"body":"Studio through four-bedroom estimates of $1,894, $1,980, $2,174, $2,722, and $3,354 scale the ZIP index with the local HUD ladder. The two-bedroom value is the anchor rather than a direct observation. These are modelled estimates, never measured bedroom rents, so they cannot substitute for a comparable listing's verified bedroom count, unit type, quoted price, or included utilities.","title":"Bedroom figures are proportional model outputs"},{"body":"ACS records a 2.36% overall vacancy rate, a 19.4% renter-occupied share, and 51.0% of renter households at or above the 30% gross-rent burden threshold. Together, those statistics describe aggregate survey conditions, not the availability, cost, affordability, or financial position associated with a specific property. The listed ZIP housing mix is also mainly single-family rather than large multifamily.","title":"Aggregate burden and vacancy do not describe a specific unit"}],"risks":["Zillow's current figure is a blended asking-rent index across rental types. It may differ from an advertised unit because of bedroom count, unit type, timing, utilities, fees, concessions, and lease structure.","ACS uses a matched ZCTA five-year survey of occupied renter homes, whereas ZIP delivery boundaries are not identical. Its estimates describe survey populations and dates rather than fresh advertisements or a particular lease.","HUD FMR/SAFMR values and the derived bedroom ladder are administrative, model-based comparison tools. They are not observed asking rents and can diverge from a listing because unit features, type, timing, and included costs are unmeasured here.","Reported vacancy and rent burden are area-wide ACS statistics. Neither measure establishes whether any currently available unit is suitable, what it charges, whether it includes utilities, or whether a household qualifies under a property's rules."],"qa":[{"a":"The one-year exact same-month increase of 7.16% exceeds the annualized three-year increase of 5.00% and the annualized five-year increase of 6.14%. That relationship supports the accelerating label for the recorded series through June 2026. It means recent index momentum outpaced its longer path, not that future rents will repeat it.","q":"What makes the historical pattern accelerating?"},{"a":"Zillow's value is a typical observed asking-rent index blended across rental types. ACS reports a five-year survey median for occupied renter homes and includes selected utilities, while HUD supplies a bedroom-specific administrative standard. The ZIP and ZCTA geography, source purpose, household coverage, and timing differ, so dollar gaps are not interchangeable market quotes.","q":"Why does the ACS gross-rent figure differ from Zillow's asking-rent index?"},{"a":"The $86,960 figure comes from annualizing the $2,174 monthly ZORI and dividing it by 30%. It is a standardized arithmetic threshold. It does not identify any household's actual income, resources, lease terms, or a property owner's qualification process. Consequently, the screen cannot determine affordability for a specific resident or applicant eligibility.","q":"What does the required-income screen represent?"},{"a":"Confirm the listing's date, quoted monthly rent, bedroom count, unit type, availability, included utilities, fees, concessions, and lease term. Then identify whether the comparison is to Zillow's blended asking-rent index, ACS gross rent including selected utilities, or a HUD bedroom standard. Aggregate ZIP, city, county, and metro figures cannot replace those listing facts.","q":"Which property-level details should be checked before applying ZIP data?"}],"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 FY2026","pulledAt":"2026-07-26","url":"https://www.huduser.gov/portal/datasets/usps_crosswalk.html"},{"key":"realtor_county","name":"Realtor.com Economic Research — county listing inventory","release":"county inventory 2026-06","pulledAt":"2026-07-28","url":"https://www.realtor.com/research/data/"},{"key":"redfin","name":"Redfin Data Center — inventory, days on market, and price cuts","release":"metro tracker through 2026-05-01","pulledAt":"2026-07-26","url":"https://www.redfin.com/news/data-center/"},{"key":"redfin_zip","name":"Redfin Data Center — ZIP resale activity and supply","release":"ZIP rolling 3 months through 2026-06-30; updated 2026-07-03","pulledAt":"2026-08-12","url":"https://www.redfin.com/news/data-center/"},{"key":"zillow_county","name":"Zillow ZHVI and ZORI — county values and rents","release":"county ZHVI/ZORI 2026-06","pulledAt":"2026-07-26","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori","name":"Zillow ZORI — metro market 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":"2016-05-01","rent":1214.499546},{"period":"2016-06-01","rent":1230.03744},{"period":"2016-07-01","rent":1227.205319},{"period":"2016-08-01","rent":1229.793411},{"period":"2016-09-01","rent":1215.580563},{"period":"2016-10-01","rent":1215.740542},{"period":"2016-11-01","rent":1228.775327},{"period":"2016-12-01","rent":1228.229537},{"period":"2017-01-01","rent":1226.368585},{"period":"2017-02-01","rent":1227.506271},{"period":"2017-03-01","rent":1245.190269},{"period":"2017-04-01","rent":1251.711459},{"period":"2017-05-01","rent":1252.685837},{"period":"2017-06-01","rent":1247.276517},{"period":"2017-07-01","rent":1263.940309},{"period":"2017-08-01","rent":1270.808757},{"period":"2017-09-01","rent":1292.709834},{"period":"2017-10-01","rent":1295.794514},{"period":"2017-11-01","rent":1288.935936},{"period":"2017-12-01","rent":1290.35354},{"period":"2018-01-01","rent":1285.288254},{"period":"2018-02-01","rent":1297.96952},{"period":"2018-03-01","rent":1302.925677},{"period":"2018-04-01","rent":1316.067995},{"period":"2018-05-01","rent":1317.694291},{"period":"2018-06-01","rent":1323.394932},{"period":"2018-07-01","rent":1320.946167},{"period":"2018-08-01","rent":1323.996027},{"period":"2018-09-01","rent":1331.37565},{"period":"2018-10-01","rent":1338.363119},{"period":"2018-11-01","rent":1339.864441},{"period":"2018-12-01","rent":1354.711293},{"period":"2019-01-01","rent":1362.125005},{"period":"2019-02-01","rent":1363.277564},{"period":"2019-03-01","rent":1360.272493},{"period":"2019-04-01","rent":1356.692712},{"period":"2019-05-01","rent":1363.541832},{"period":"2019-06-01","rent":1369.386529},{"period":"2019-07-01","rent":1373.54369},{"period":"2019-08-01","rent":1377.082749},{"period":"2019-09-01","rent":1372.906738},{"period":"2019-10-01","rent":1375.235993},{"period":"2019-11-01","rent":1383.542387},{"period":"2019-12-01","rent":1380.025726},{"period":"2020-01-01","rent":1385.25671},{"period":"2020-02-01","rent":1385.839143},{"period":"2020-03-01","rent":1402.989246},{"period":"2020-04-01","rent":1392.047794},{"period":"2020-05-01","rent":1406.779564},{"period":"2020-06-01","rent":1402.009052},{"period":"2020-07-01","rent":1428.495542},{"period":"2020-08-01","rent":1449.436266},{"period":"2020-09-01","rent":1479.318787},{"period":"2020-10-01","rent":1475.035987},{"period":"2020-11-01","rent":1469.635562},{"period":"2020-12-01","rent":1472.768911},{"period":"2021-01-01","rent":1491.498126},{"period":"2021-02-01","rent":1511.6182},{"period":"2021-03-01","rent":1523.525746},{"period":"2021-04-01","rent":1546.161576},{"period":"2021-05-01","rent":1563.690843},{"period":"2021-06-01","rent":1614.349412},{"period":"2021-07-01","rent":1637.453643},{"period":"2021-08-01","rent":1642.684799},{"period":"2021-09-01","rent":1647.970853},{"period":"2021-10-01","rent":1679.108329},{"period":"2021-11-01","rent":1706.590226},{"period":"2021-12-01","rent":1737.349346},{"period":"2022-01-01","rent":1733.994504},{"period":"2022-02-01","rent":1768.48729},{"period":"2022-03-01","rent":1771.913539},{"period":"2022-04-01","rent":1797.474729},{"period":"2022-05-01","rent":1800.723577},{"period":"2022-06-01","rent":1796.432356},{"period":"2022-07-01","rent":1801.020979},{"period":"2022-08-01","rent":1801.663142},{"period":"2022-09-01","rent":1806.057223},{"period":"2022-10-01","rent":1816.41611},{"period":"2022-11-01","rent":1827.09187},{"period":"2022-12-01","rent":1826.41068},{"period":"2023-01-01","rent":1817.523141},{"period":"2023-02-01","rent":1816.776294},{"period":"2023-03-01","rent":1842.382364},{"period":"2023-04-01","rent":1861.271344},{"period":"2023-05-01","rent":1871.192746},{"period":"2023-06-01","rent":1878.062434},{"period":"2023-07-01","rent":1863.362982},{"period":"2023-08-01","rent":1877.054864},{"period":"2023-09-01","rent":1881.064238},{"period":"2023-10-01","rent":1876.700073},{"period":"2023-11-01","rent":1885.575496},{"period":"2023-12-01","rent":1880.658587},{"period":"2024-01-01","rent":1926.851325},{"period":"2024-02-01","rent":1920.442735},{"period":"2024-03-01","rent":1939.501313},{"period":"2024-04-01","rent":1937.638828},{"period":"2024-05-01","rent":1949.380466},{"period":"2024-06-01","rent":1938.968721},{"period":"2024-07-01","rent":1937.848371},{"period":"2024-08-01","rent":1954.732857},{"period":"2024-09-01","rent":1978.836685},{"period":"2024-10-01","rent":1989.512146},{"period":"2024-11-01","rent":1991.702633},{"period":"2024-12-01","rent":1994.117053},{"period":"2025-01-01","rent":2009.078978},{"period":"2025-02-01","rent":2025.326478},{"period":"2025-03-01","rent":2038.097086},{"period":"2025-04-01","rent":2027.212108},{"period":"2025-05-01","rent":2017.181181},{"period":"2025-06-01","rent":2028.970303},{"period":"2025-07-01","rent":2053.766548},{"period":"2025-08-01","rent":2051.807189},{"period":"2025-09-01","rent":2049.002302},{"period":"2025-10-01","rent":2059.30788},{"period":"2025-11-01","rent":2070.21273},{"period":"2025-12-01","rent":2091.215426},{"period":"2026-01-01","rent":2080.069817},{"period":"2026-02-01","rent":2093.30562},{"period":"2026-03-01","rent":2092.917957},{"period":"2026-04-01","rent":2123.486117},{"period":"2026-05-01","rent":2150.569234},{"period":"2026-06-01","rent":2174.240702}],"historySummary":{"pointCount":122,"firstPeriod":"2016-05-01","latestPeriod":"2026-06-01","coverageMonths":122,"coverageRatio":1,"changes":{"1":{"years":1,"startPeriod":"2025-06-01","endPeriod":"2026-06-01","startRent":2028.970303,"endRent":2174.240702,"change":0.07159809031468112,"cagr":0.07159809031468112},"3":{"years":3,"startPeriod":"2023-06-01","endPeriod":"2026-06-01","startRent":1878.062434,"endRent":2174.240702,"change":0.1577041650149955,"cagr":0.05002393445517117},"5":{"years":5,"startPeriod":"2021-06-01","endPeriod":"2026-06-01","startRent":1614.349412,"endRent":2174.240702,"change":0.3468216272376603,"cagr":0.06135828978599989}},"maxDrawdown":-0.011753200780620254,"annualizedVolatility":0.025904265844192042,"consecutiveReturnCount":121}}