As of June 2026, the Zillow Observed Rent Index for this market is $1,640 per month. Its exact same-month annualized one-year change was 1.43%, compared with 0.17% over three years and 2.96% over five years. Recent direction therefore confirms a stable-growth label while breaking modestly upward from the nearly flat three-year path; it still trails the longer five-year pace. The rent history has full 100% coverage. Annualized monthly-return variability of 2.59% indicates a relatively contained, though not immaterial, range of historical movement, while the deepest peak-to-trough decline was 4.30%. That combination gives a current rent snapshot more historical support than a sharply swinging series would, but it does not make the figure a forecast. Among history-eligible ZIPs, transparent national discovery ranks place stability at 874, momentum at 2,010, and balance at 1,646; lower ranks are higher, and these are backward-looking sorting tools rather than investment signals.
The 32216 label is both Zillow’s ZIP market identifier and a matched Census ZCTA. A ZCTA is a statistical area and is not identical to a USPS delivery ZIP. Zillow ZORI is a typical observed asking-rent index blended across rental types, whereas the ACS 2024 five-year estimate reports a $1,364 median gross rent among occupied renter homes and includes selected utilities. The ACS figure is 20.2% below the current asking-rent index, a difference consistent with their distinct populations and construction rather than a direct contradiction. For wider context, the city of Jacksonville context rent is $1,599.67, Duval County context rent is $1,616, and the Jacksonville, FL metro context rent is $1,708. Those city, county, and metro figures provide broader-geography reference points only; none replaces the ZIP-level asking-rent measure.
The bedroom view should be read as a scaling exercise, not as a set of observed unit rents. Modelled monthly estimates scale ZIP ZORI through the local HUD ladder: $1,340 for a studio, $1,361 for one bedroom, $1,640 for two bedrooms, $2,026 for three bedrooms, and $2,530 for four bedrooms. The supporting HUD standards run from $1,250 for a studio to $2,360 for four bedrooms, including $1,530 for two bedrooms. HUD Fair Market Rent or Small Area Fair Market Rent is an administrative bedroom-specific standard, not asking rent. Accordingly, the modelled two-bedroom estimate sits 7.2% above the HUD two-bedroom standard, but neither figure is a measured bedroom rent for a particular available home.
The affordability screen creates a notable tension with the current index. Applying a 30% rent-to-income arithmetic screen to the asking-rent index produces required annual household income of $65,600, versus ACS median household income of $61,821; the index-to-income calculation is 31.8%. This is arithmetic, not advice and not an applicant qualification rule. Separately, 59.0% of surveyed renter households reported paying at least 30% of income toward rent, a burden measure for occupied renters rather than proof about any specific lease. The ZCTA contains 20,141 housing units, with renters representing 52.1% of occupied homes. Its 7.14% overall vacancy rate includes 884 units reported vacant for rent, but that aggregate does not establish availability, condition, concession terms, or affordability at a particular unit.
Broader comparisons reinforce the need to keep the evidence universes separate. The ZIP asking-rent index is above the city and county context rents but below the metro context rent, while its ACS gross-rent estimate sits below the corresponding city and county survey medians. The ZIP also has a higher renter share and lower overall vacancy rate than the city and county context measures. Meanwhile, the metro rent-to-income screen is lower than the ZIP’s screen. These contrasts describe different geographic scopes, household mixes, and measurement frameworks; they do not show that one geography determines another. The practical reading is that the current ZIP rent snapshot is somewhat firmer than nearby city and county index context, while household-income and burden evidence remains comparatively restrictive.
Redfin’s direct rolling-three-month ZIP resale observation provides a separate for-sale-market check, not rental transactions or rental comparables. The median sold price was $259,936, down 4.79% year over year, with 134 homes sold and 157 pending sales. Marketing time was 61 days. Redfin reported 343 active listings, while its inventory measure was 190 homes, up 3.99% year over year, and months of supply stood at 4.3. Sale-to-list evidence was also measured in this resale universe: the average sale-to-list ratio was 97.65%, and 11.55% of sales closed above list price. Together, those figures show observable ZIP resale liquidity and negotiation signals, but they cannot be used as rent transactions, property operating results, or evidence about an individual rental home.
The rent-price screening ratio is where the two source universes visibly diverge. Annualized ZIP ZORI divided by Redfin’s median sold price equals 7.57%. It is only a cross-source screening ratio, not a measure of net property economics or expected performance. The tension is straightforward: the asking-rent index rose over the latest year and the history remains stable, yet Redfin recorded a lower median sold price, longer marketing exposure, and supply above a very tight resale reading. At the same time, the income screen and renter-burden share caution against treating a stable current asking-rent index as evidence of universally easy rent absorption. Resale softness therefore challenges any overly simple reading of the rent trend, even though it does not negate it.
Important limits remain. ZORI is a typical blended asking-rent index rather than a quote for a matched unit; ACS is a five-year survey with published sampling uncertainty; HUD is an administrative standard; and Redfin is a direct rolling resale observation with a different market universe and timing. Neither the historical record nor the screening ratio forecasts rents, prices, leasing outcomes, or investment results. A property-level review should verify the actual asking rent, bedroom count, included utilities, lease term, concessions, unit condition, occupancy status, and whether nearby sale and listing evidence is genuinely comparable. The key unresolved question is whether a specific unit’s terms align with the ZIP index while remaining consistent with the income, burden, and resale conditions documented here.
","findings":[{"body":"ZIP-level ZORI rose over the latest one-year period after a nearly flat three-year path, although its five-year pace remains stronger. Complete historical coverage, contained variability, and a limited maximum drawdown support using the current index as a useful market snapshot. Those measures remain historical descriptions, not projections of future rent movement.","title":"Stable asking-rent history, with a modest recent pickup"},{"body":"The Zillow index tracks typical observed asking rents across a blended rental mix. ACS median gross rent instead describes occupied renter homes in a five-year survey and includes selected utilities. HUD standards are administrative bedroom-specific benchmarks. The bedroom figures in this report are modelled estimates derived from ZORI and the HUD ladder, not measured rents for listed apartments or houses.","title":"Asking rent, survey rent, and HUD standards answer different questions"},{"body":"The arithmetic income needed for the current asking-rent index exceeds the ZCTA median household income, and a majority of surveyed renter households report burden at or above the standard threshold. Renters also form a slight majority of occupied homes. Vacancy and vacant-for-rent counts describe the area’s aggregate stock, not the availability or affordability of a particular unit.","title":"Income and burden measures create affordability caution"},{"body":"Redfin’s direct ZIP resale data show a declining median sold price, extended marketing time, available inventory, and average sales below list price, even as the asking-rent index increased over the latest year. That contrast does not invalidate either source. It highlights that for-sale liquidity and asking-rent conditions are different observations whose signals may not move together.","title":"Resale evidence challenges a simple rent-strength interpretation"}],"risks":["The Zillow asking-rent index is blended across rental types and does not control for a specific home’s size, renovation level, utilities, concessions, lease duration, furnishing, or exact availability.","ACS rent, income, renter count, and burden figures are ZCTA survey estimates for occupied households, with sampling uncertainty, and should not be treated as a real-time statement about current applicants.","Redfin’s rolling resale metrics describe sold and listed homes in the direct ZIP for-sale market; they are not rental comparables, operating statements, or proof of the economics of a rental property.","The modelled bedroom ladder depends on the relative HUD standard structure, so it can organize a ZIP-level asking-rent view by bedroom count without measuring actual advertised rents for each bedroom type."],"qa":[{"a":"The measures cover different evidence universes. Zillow ZORI is a current typical observed asking-rent index blended across rental types. ACS median gross rent is a five-year survey measure for occupied renter homes and includes selected utilities. Existing leases, survey timing, household composition, and included-utility treatment can all make the two figures differ.","q":"Why does the current Zillow rent index exceed the ACS median gross rent?"},{"a":"No. They are modelled monthly ZIP estimates created by scaling the overall Zillow asking-rent index with the local HUD bedroom ladder. HUD Fair Market Rent or Small Area Fair Market Rent is an administrative standard rather than asking rent. The estimates should not be read as direct measurements of listings, signed leases, or a specific property.","q":"Are the bedroom rents in the report observed market rents?"},{"a":"Contained historical variability and a limited maximum drawdown suggest the series has not experienced unusually large monthly-return swings across the covered period. That supports moderate confidence that the current index is not merely an isolated spike. It does not remove measurement limits, guarantee future movement, or establish the rent obtainable for an individual unit.","q":"What does the rent-history variability say about confidence in the current rent snapshot?"},{"a":"It divides annualized ZIP ZORI by Redfin’s median sold price, combining a rental asking-rent index with a direct ZIP resale statistic. It can flag a broad relationship between those two series, but it excludes operating costs, financing, taxes, insurance, maintenance, vacancy, property condition, and transaction-specific details. It is therefore not a property-level return measure.","q":"How should the Redfin screening ratio 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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