At the June 2026 endpoint, Zillow ZORI for this ZIP is $1,767 per month, down 0.21% from a year earlier. Zillow ZORI is a typical observed asking-rent index blended across rental types, so it is neither a quoted rent for one listed unit nor an all-in household expense. The five-digit label 30331 is both a Zillow ZIP market identifier and a matched Census ZCTA; a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. Applying a 30% rent-to-income screen to the index produces $70,680 of required annual income, above the ZCTA median household income of $62,623. The implied asking-rent-to-income share is 33.86%; this screen is arithmetic, not advice or an applicant qualification rule.
The history gives a backward-looking cooling signal rather than a forecast. Exact same-month annualized Zillow ZORI changes are -0.21% over 1 year, +1.61% over 3 years, and +4.04% over 5 years. Thus the latest modest decline breaks from the earlier positive multi-year trajectory instead of confirming it. The series has 100% monthly coverage. Its monthly-return variability, annualized, is 2.86%; movements around the path mean a single current reading merits measured confidence. Maximum peak-to-trough drawdown is separately -2.54%, showing the largest historical retreat in this covered record rather than predicting another one. Transparent national discovery ranks—where lower is higher—are 2,197 for momentum, 1,357 for stability, and 2,110 for the balanced measure among history-eligible ZIPs; these ranks and all history are measurements, not investment recommendations.
Rent sources are not interchangeable here. The ACS 2024 5-year survey puts median gross rent at $1,327 for occupied renter homes in the matched ZCTA and includes selected utilities; its survey margin of error should also temper precision. That is a distinct universe from Zillow’s typical observed asking-rent index. The index sits 33.16% above the ACS median, but this comparison cannot prove any current listing is overpriced or that survey rents have just changed. Wider values retain wider scopes: the corresponding Zillow asking-rent context is about $1,911 in citywide Atlanta, $1,907 in countywide Fulton County, and $1,854 across the Atlanta-Sandy Springs-Alpharetta metro. Each city, county, and metro figure is context only, rather than a ZIP substitute.
HUD FMR/SAFMR is an administrative bedroom-specific standard, not asking rent. Its local two-bedroom standard is $1,600. Scaling ZIP ZORI by the local HUD ladder produces modelled estimates ranging from $1,535 for studios to $2,529 for four-bedroom homes, with $1,767 for two bedrooms. These are modelled estimates, never measured bedroom rents: the procedure applies a standard’s bedroom pattern to a blended asking-rent index, not to observed bedroom-specific listings. The modelled two-bedroom result is 10.44% above HUD’s two-bedroom standard. That gap is a cross-source scaling outcome, not a lease comparison or evidence about a specific property.
The same ACS ZCTA evidence describes the housing base, not a live availability count. Of 27,236 housing units, the reported vacancy rate is 9.60%, while renters account for 46.75% of occupied homes. There are 1,064 units recorded vacant for rent, but that classification cannot establish availability, condition, lease terms, or affordability for a particular unit. Among 11,511 renter households, 6,465—or 56.16%—reported spending at least 30% of income on gross rent. The burden statistic has survey uncertainty and is not proof that a prospective tenant at any given address will face the same burden. In the affordability tension, it nevertheless provides household-survey context for index-to-income arithmetic rather than a qualification test.
The direct rolling-three-month Redfin ZIP resale observation is a for-sale measure, not rental transactions. It shows a $287,425 median sold price, down 4.19% year over year, with 146 homes sold and a median 54 days on market. Inventory was 274 homes, and months of supply stood at 5.7. The average sale-to-list ratio was 96.72%, while 16.92% of sales closed above list. These are resale liquidity and pricing signals only; they neither set asking rent nor describe operating economics for a rental home. Annualized ZIP ZORI divided by median sold price equals a 7.38% cross-source screening ratio only, not a property-level income, expense, or return measure.
The resale record largely reinforces, but does not settle, the cooling tension. Its price decline is materially steeper than the slight decline in ZIP asking rent, and the supply figure adds a separate resale liquidity observation. Yet active listings and inventory also declined year over year, an opposing contemporaneous fact that argues against reducing the for-sale evidence to one simple condition. The rent history’s long-run gains, the current income screen, and this resale record therefore point to different decision dimensions rather than a unified outcome. Resale price change challenges any assumption that stable asking rent and prior rent growth alone summarize current conditions; in turn, the asking index and household burden measure are not explanations for sales results.
No source here identifies an individual dwelling, and their reference periods and construction differ. Zillow is an index of observed asking rents; ACS is a survey of occupied renter homes; HUD is an administrative standard; and Redfin is a rolling resale observation. A property-level review can verify the advertised monthly charge, bedroom count, included utilities, lease term, availability date, and whether an exact address falls within the relevant market labeling before comparing it with these benchmarks. It can also distinguish a landlord’s current quote from prior occupied-household payments and confirm the actual listing or completed-sale record used for a comparable. Such checks narrow source mismatch, but they do not turn broad vacancy or burden measures into facts about that unit. What does the verified property evidence show relative to the specific screen being used?
","findings":[{"body":"At $1,767, the June Zillow asking-rent index implies $70,680 in annual income under a 30% screen, compared with a $62,623 ZCTA median household income. The resulting 33.86% index-to-income share is a mechanical comparison. It does not judge affordability for an applicant, whose income, household size, utilities, and lease terms are unknown.","title":"Current screen exceeds local median income"},{"body":"Same-month ZORI data show a 0.21% one-year decline after annualized gains of 1.61% over three years and 4.04% over five years. Full coverage supports the measurement, but 2.86% annualized monthly variation and a 2.54% maximum drawdown mean that one current index reading should not be treated as a forecast or a complete trend description.","title":"Cooling latest year, growth over longer intervals"},{"body":"HUD’s $1,600 two-bedroom standard supports a $1,767 modelled ZIP two-bedroom estimate after scaling ZORI by the local bedroom ladder. The modelled ladder runs from $1,535 for studios to $2,529 for four-bedroom homes. It preserves a HUD-derived pattern; it does not measure bedroom-specific advertised rents or actual signed leases.","title":"Cross-source bedroom ladder"},{"body":"The direct rolling-three-month Redfin ZIP resale record reports a $287,425 median sale price and 5.7 months of supply, alongside 146 homes sold in 54 median days on market. Its 7.38% annualized-rent-to-price calculation is a cross-source screen only. It contextualizes rent evidence but does not create rental comparables, property cash flow, or a forward property performance measure.","title":"Resale evidence adds a separate cooling signal"}],"risks":["Zillow’s blended index can depart from a particular home’s current asking charge because bedroom mix, utility treatment, lease structure, and listing availability are not controlled at the individual-property level.","ACS ZCTA estimates summarize surveyed occupied renter homes over five years and include selected utilities; sampling error, timing, and ZCTA-versus-delivery-ZIP boundaries constrain comparisons with a current advertised unit.","HUD bedroom standards are administrative benchmarks, and the ZIP bedroom figures are scaled modelled estimates. Neither source observes the exact bedroom-specific rent, concessions, or lease terms for an individual home.","Redfin reports a ZIP-level rolling resale window rather than rental transactions. Median sale prices and market-time indicators cannot establish a property’s rent, expense structure, financing terms, condition, or future performance."],"qa":[{"a":"ACS median gross rent is drawn from occupied renter homes in a five-year survey and includes selected utilities. Zillow ZORI instead tracks a typical observed asking-rent index blended across rental types. Timing, occupancy status, utility treatment, and the distinction between a ZCTA statistical area and a USPS delivery ZIP prevent a one-to-one comparison.","q":"Why does the ACS rent figure not match Zillow ZORI?"},{"a":"The one-year -0.21% result is a backward-looking same-month calculation, not a prediction. Its contrast with positive three- and five-year annualized changes identifies a break in the recorded path. The full coverage, monthly-return variability, and drawdown describe measurement behavior, but none determines future asking rents or a property outcome.","q":"Does the latest rent decline forecast future rents?"},{"a":"No. It annualizes the ZIP asking-rent index and divides it by the ZIP median sold price from a separate resale dataset. It contains no property-specific operating costs, financing, taxes, maintenance, vacancy experience, or lease terms. It is therefore only a cross-source screening ratio, not a property-level earnings or valuation conclusion.","q":"Can the 7.38% screen be treated as property income?"},{"a":"For an individual address, establish the current quoted charge, bedroom count, included utilities, lease term, availability date, and applicable market labeling. Separate those facts from ACS occupied-household survey results and from HUD standards. If using a resale comparison, confirm the actual sale or listing record and its date rather than treating a ZIP median as an identical property.","q":"What concrete checks keep an individual-property comparison evidence-bound?"}],"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 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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":"2015-01-01","rent":921.50334},{"period":"2015-02-01","rent":926.261019},{"period":"2015-03-01","rent":925.977243},{"period":"2015-04-01","rent":940.066795},{"period":"2015-05-01","rent":942.213395},{"period":"2015-06-01","rent":949.4802},{"period":"2015-07-01","rent":954.354252},{"period":"2015-08-01","rent":955.120024},{"period":"2015-09-01","rent":950.446048},{"period":"2015-10-01","rent":956.088941},{"period":"2015-11-01","rent":956.971447},{"period":"2015-12-01","rent":972.839845},{"period":"2016-01-01","rent":962.868843},{"period":"2016-02-01","rent":967.628661},{"period":"2016-03-01","rent":971.540652},{"period":"2016-04-01","rent":973.618403},{"period":"2016-05-01","rent":983.133127},{"period":"2016-06-01","rent":983.59149},{"period":"2016-07-01","rent":988.025305},{"period":"2016-08-01","rent":994.934974},{"period":"2016-09-01","rent":998.324363},{"period":"2016-10-01","rent":1007.295778},{"period":"2016-11-01","rent":1010.048949},{"period":"2016-12-01","rent":1011.410153},{"period":"2017-01-01","rent":1030.056706},{"period":"2017-02-01","rent":1034.600268},{"period":"2017-03-01","rent":1048.275908},{"period":"2017-04-01","rent":1032.984035},{"period":"2017-05-01","rent":1042.258914},{"period":"2017-06-01","rent":1044.652905},{"period":"2017-07-01","rent":1073.042914},{"period":"2017-08-01","rent":1086.881452},{"period":"2017-09-01","rent":1099.983721},{"period":"2017-10-01","rent":1089.461726},{"period":"2017-11-01","rent":1091.862446},{"period":"2017-12-01","rent":1101.186338},{"period":"2018-01-01","rent":1110.364851},{"period":"2018-02-01","rent":1114.772368},{"period":"2018-03-01","rent":1116.515502},{"period":"2018-04-01","rent":1146.140682},{"period":"2018-05-01","rent":1156.028366},{"period":"2018-06-01","rent":1160.277303},{"period":"2018-07-01","rent":1136.36872},{"period":"2018-08-01","rent":1132.784026},{"period":"2018-09-01","rent":1130.80173},{"period":"2018-10-01","rent":1151.745928},{"period":"2018-11-01","rent":1158.366614},{"period":"2018-12-01","rent":1166.830722},{"period":"2019-01-01","rent":1162.398603},{"period":"2019-02-01","rent":1173.966319},{"period":"2019-03-01","rent":1179.403706},{"period":"2019-04-01","rent":1178.028116},{"period":"2019-05-01","rent":1178.488873},{"period":"2019-06-01","rent":1189.120354},{"period":"2019-07-01","rent":1207.132492},{"period":"2019-08-01","rent":1217.401584},{"period":"2019-09-01","rent":1228.017956},{"period":"2019-10-01","rent":1230.934507},{"period":"2019-11-01","rent":1240.645829},{"period":"2019-12-01","rent":1245.487961},{"period":"2020-01-01","rent":1257.91447},{"period":"2020-02-01","rent":1263.335346},{"period":"2020-03-01","rent":1264.904162},{"period":"2020-04-01","rent":1257.869661},{"period":"2020-05-01","rent":1275.528943},{"period":"2020-06-01","rent":1281.501811},{"period":"2020-07-01","rent":1288.882898},{"period":"2020-08-01","rent":1288.756446},{"period":"2020-09-01","rent":1299.677819},{"period":"2020-10-01","rent":1320.01054},{"period":"2020-11-01","rent":1334.121732},{"period":"2020-12-01","rent":1355.420011},{"period":"2021-01-01","rent":1363.816285},{"period":"2021-02-01","rent":1392.286569},{"period":"2021-03-01","rent":1411.244227},{"period":"2021-04-01","rent":1440.279802},{"period":"2021-05-01","rent":1435.905792},{"period":"2021-06-01","rent":1449.357105},{"period":"2021-07-01","rent":1466.424346},{"period":"2021-08-01","rent":1496.320942},{"period":"2021-09-01","rent":1509.50734},{"period":"2021-10-01","rent":1510.226409},{"period":"2021-11-01","rent":1520.346965},{"period":"2021-12-01","rent":1525.953246},{"period":"2022-01-01","rent":1548.852892},{"period":"2022-02-01","rent":1548.975122},{"period":"2022-03-01","rent":1566.23752},{"period":"2022-04-01","rent":1567.265919},{"period":"2022-05-01","rent":1594.171876},{"period":"2022-06-01","rent":1613.617919},{"period":"2022-07-01","rent":1643.47115},{"period":"2022-08-01","rent":1650.535722},{"period":"2022-09-01","rent":1648.210815},{"period":"2022-10-01","rent":1649.870695},{"period":"2022-11-01","rent":1675.653269},{"period":"2022-12-01","rent":1685.561638},{"period":"2023-01-01","rent":1676.365866},{"period":"2023-02-01","rent":1652.914632},{"period":"2023-03-01","rent":1654.686441},{"period":"2023-04-01","rent":1671.119276},{"period":"2023-05-01","rent":1689.422364},{"period":"2023-06-01","rent":1684.03616},{"period":"2023-07-01","rent":1672.899601},{"period":"2023-08-01","rent":1658.985208},{"period":"2023-09-01","rent":1695.813079},{"period":"2023-10-01","rent":1719.330773},{"period":"2023-11-01","rent":1715.531733},{"period":"2023-12-01","rent":1708.834221},{"period":"2024-01-01","rent":1721.580898},{"period":"2024-02-01","rent":1755.541895},{"period":"2024-03-01","rent":1754.830981},{"period":"2024-04-01","rent":1741.218848},{"period":"2024-05-01","rent":1714.911494},{"period":"2024-06-01","rent":1718.703529},{"period":"2024-07-01","rent":1719.1280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