The five-digit label 27410 is both Zillow’s ZIP market identifier and the match used for the Census ZCTA data. A ZCTA is a statistical area and is not identical to a USPS delivery ZIP. Zillow’s current ZIP ZORI is $1,475 per month, a typical observed asking-rent index blended across rental types rather than a lease quote for a particular home. That distinction matters because the current index is useful for a market-level rent snapshot, while an individual listing can differ by bedroom count, utilities, condition, and concessions.
The backward-looking rent path is positive but has moderated relative to its longer run. Exact same-month change was 2.0% over one year, versus annualized gains of 3.4% over three years and 6.1% over five years. Thus, recent direction confirms continued rent growth but breaks from the faster pace embedded in the longer history. Monthly ZORI changes annualize to 2.6% variability, so a single current reading deserves more confidence than a highly erratic series but should not be treated as a fixed market level. The largest historical pullback was 3.2%, evidence that declines have occurred despite the broader upward path. History has 100% coverage, and transparent national discovery ranks among history-eligible ZIPs were 1,185 for momentum, 855 for stability, and 768 for the balanced measure. These are descriptive discovery measures, not forecasts or investment recommendations.
The bedroom figures translate the ZIP-wide ZORI into modelled estimates using the local HUD bedroom ladder; they are not measured bedroom rents. The resulting monthly sequence is $1,281 for a studio, $1,349 for one bedroom, $1,475 for two bedrooms, $1,888 for three bedrooms, and $2,175 for four bedrooms. HUD’s local two-bedroom standard is $1,750. HUD FMR or SAFMR is an administrative, bedroom-specific standard used for program purposes, not an asking-rent observation, so its ladder supplies a proportional scaling tool rather than direct evidence of what a specific unit is advertised for.
The affordability picture contains an important split between household-level arithmetic and renter survey experience. The matched ACS five-year survey reports median gross rent of $1,397, which is 5.6% below the current ZORI; ACS covers occupied renter homes and includes selected utilities, whereas ZORI tracks typical observed asking rents. Median household income is $85,291, placing annualized ZORI at 20.8% of that median income. A household would need $59,000 in annual income for the current index to equal 30% of income. That is arithmetic only, not advice or an applicant qualification rule. Separately, 56.3% of surveyed renter households report paying at least 30% of income toward rent, a broad burden measure that cannot establish the burden at any particular available unit.
Housing composition helps frame why a ZIP-level index should not be read as a uniform apartment-market result. The ZCTA population is 54,921 and it contains 27,268 housing units. Single-family structures account for 17,105 units, or 62.7% of the stock, while large multifamily structures account for 4,242 units. Renters represent 37.2% of occupied households. Overall vacancy is 8.9%, and 957 vacant units are classified as for rent. Those counts show inventory categories in the survey universe, not live availability, asking terms, lease concessions, or quality at a particular property. They should therefore be read alongside, rather than substituted for, direct listing checks.
Broader rent context places Greensboro city at $1,415, Guilford County at $1,439, and the Greensboro-High Point metro at $1,411; each is a wider-scope comparison rather than a replacement for the ZIP reading. The ZIP ZORI is above all three contextual rent figures, but that comparison does not make their city, county, or metro renter shares, vacancy measures, incomes, gross-rent medians, or HUD standards interchangeable with the ZIP or ZCTA evidence. The local affordability tension is consequently specific: the asking-rent index sits above broader rent context even as the ZCTA’s survey burden remains material.
The direct rolling-three-month Redfin ZIP resale observation points to a for-sale-market tension with the rent history. Median sold price was $338,673, down 3.8% year over year, while 239 homes sold and median marketing time was 35 days. Active listings reached 453, up 19.6%, and inventory was 209 homes, up 24.9%, with 2.7 months of supply. The average sale-to-list result was 98.9%; 19.9% of homes sold above list, and 45.7% went off market within two weeks. Those are resale liquidity and pricing signals, not rental transactions or rental comps. The annualized ZIP ZORI divided by median sold price is 5.2%, solely a cross-source screening ratio, not a measure of a property’s operating performance or investment outcome. Rising rent history sits beside softer resale pricing and expanding resale supply, which challenges any simple reading of the rent index alone.
Evidence limits remain central. ZORI is a blended asking-rent index, ACS is a lagged five-year survey of occupied homes, HUD is an administrative standard, and Redfin covers completed ZIP resale activity over a rolling period. None establishes a subject property’s rent, vacancy, expenses, financing, tenant demand, or resale result. Property-level review would need the actual bedroom count, current asking price, included utilities, lease term, concessions, available date, condition, and comparable listings; for a purchase screen it would also need the relevant sale comparables, listing history, and closing details. The key unresolved question is whether the specific property’s current terms resemble the blended ZIP rent signal or materially depart from it.
","findings":[{"body":"The historical series shows continued same-month rent growth, yet the latest one-year gain is below the annualized three-year and five-year rates. That pattern supports a stable-growth description while also showing deceleration from the longer path. Modest monthly variability and a limited historical drawdown improve confidence in the broad trend, but do not turn the current ZIP index into a forecast.","title":"Rent growth remains positive, but the pace has slowed"},{"body":"The ACS gross-rent median is lower than the current Zillow asking-rent index, partly because ACS measures occupied renter households over a five-year survey period and includes selected utilities. The income screen appears less restrictive at the area median, yet a majority of surveyed renter households are burdened. Those results should be held together as a tension, not collapsed into one affordability conclusion.","title":"Survey affordability and current asking rents describe different populations"},{"body":"The studio-through-four-bedroom figures are produced by scaling ZIP ZORI with the local HUD bedroom ladder. They provide a consistent way to compare bedroom sizes against the ZIP-wide rent index, but they are not direct observations of listing prices or signed leases. HUD standards are administrative and bedroom-specific, so they should not be interpreted as market asking rents.","title":"Bedroom rents are a modelled ladder, not observed unit pricing"},{"body":"Redfin’s direct ZIP resale data show lower median sold pricing alongside rising listings and inventory, while homes still sold with measurable turnover and relatively short marketing time. That combination is for-sale evidence only. It creates a useful counterweight to the positive rent history because stronger asking-rent trends do not automatically align with current resale price movement or property-specific economics.","title":"Resale conditions complicate the rent-only screen"}],"risks":["The current Zillow figure is a blended asking-rent index across rental types, so using it as a quote for a particular bedroom count, building type, utility package, or lease term can materially misstate actual market terms.","ACS burden, vacancy, income, and gross-rent measures are ZCTA-level five-year survey estimates. They cannot prove affordability, occupancy, utility costs, or tenant demand for a particular property or currently advertised unit.","The modelled bedroom ladder depends on HUD relative standards rather than observed bedroom-specific ZIP listings. Differences in property quality, size, amenities, utilities, and concessions can cause actual rents to depart from the modelled values.","Redfin resale metrics concern completed for-sale transactions over a rolling period, not rental transactions. A rent-to-price screening ratio omits operating costs, taxes, insurance, financing, repairs, vacancy, and property-specific saleability."],"qa":[{"a":"They measure different universes. Zillow ZORI is a current typical observed asking-rent index blended across rental types in the ZIP market. ACS median gross rent is a five-year survey estimate for occupied renter homes in the matched ZCTA and includes selected utilities. Timing, occupied-versus-asking status, rental mix, and utility treatment can all create a difference.","q":"Why does the current Zillow rent figure differ from ACS median gross rent?"},{"a":"No. They are modelled estimates created by applying the local HUD bedroom ladder to the ZIP-wide Zillow ZORI. This produces a consistent proportional range, but it does not observe advertised rents, signed leases, unit sizes, condition, utility inclusions, concessions, or availability for any individual bedroom category.","q":"Are the bedroom estimates actual observed rents for studios through four-bedroom homes?"},{"a":"The resale data does not directly measure rental demand. It reports ZIP-level completed for-sale activity, including sold prices, marketing time, listings, supply, and sale-to-list outcomes. Its relevance is limited to showing whether the for-sale market is moving in a way that confirms or challenges the separate rent and affordability evidence.","q":"What does the resale data say about rental demand?"},{"a":"Verify the subject unit’s bedroom count, asking rent, utility allocation, lease term, concession structure, available date, condition, and comparable active listings. For a resale review, verify relevant sale comparables, listing history, property condition, closing terms, and expenses. Those property-level facts are not established by any ZIP index, ZCTA survey measure, HUD standard, or rolling resale summary.","q":"What should be verified before applying this ZIP report to a specific property?"}],"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 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