The five-digit label 33139 is both a Zillow ZIP market identifier and a Census ZCTA match; a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. Zillow ZORI is $3,010 in the current reading, after a 2.2% year-over-year increase. It is a typical observed asking-rent index blended across rental types, not a lease-level rent quote. The Miami Beach city context rent is $2,978, the Miami-Dade County context rent is $2,886, and the Miami-Fort Lauderdale-Pompano Beach metro context rent is $2,695; each is a broader geographic context rather than a substitute ZIP estimate. The ZIP’s current asking-rent index therefore stands above all three context measures.
The matched Census ZCTA ACS five-year survey reports median gross rent of $1,822, which is 65.2% below the Zillow asking-rent index. These figures answer different questions: ACS covers occupied renter homes and includes selected utilities, while ZORI tracks typical observed asking rents. Applying the 30% required-income screen to the current ZORI produces $120,400 of annual household income, compared with reported median household income of $69,793; that arithmetic equals an asking-rent-to-income relationship of 51.8%. This is not advice or an applicant qualification rule. ACS also reports 7,275 renter households paying at least 30% of income toward rent out of 12,443 renter households, a 58.5% burden share. Survey margins of error and the occupied-home scope mean neither statistic proves the burden or terms of any current unit.
The backward-looking Zillow history shows exact same-month annualized rent changes of 2.2% over one year, 1.5% over three years, and 6.6% over five years, with complete coverage across the available history. Recent direction still confirms positive rent movement, but the much slower one- and three-year pace breaks from the stronger five-year path. Monthly rent changes produced 3.3% annualized variability, so individual monthly index readings have moved around the longer path. Separately, the deepest historical peak-to-trough decline was 6.0%, showing that a positive multiyear change did not occur without reversals. Transparent national discovery ranks are 1,567 for momentum, 1,996 for stability, and 1,995 for the balanced measure, where lower ranks are higher. These are measurements, not forecasts, and the variability and drawdown limit confidence in any single current rent snapshot.
The bedroom ladder should be read as modelled estimates, not measured bedroom rents. Scaling ZIP ZORI with the local HUD ladder produces monthly estimates of $2,307 for a studio, $2,453 for one bedroom, $3,010 for two bedrooms, $4,034 for three bedrooms, and $4,661 for four bedrooms. HUD Fair Market Rent or Small Area Fair Market Rent is an administrative bedroom-specific standard, not an asking-rent observation. The local HUD two-bedroom standard is $2,333, making the ZIP’s current ZORI 29.0% higher. That spread is useful for understanding the model’s inputs, but it cannot establish that a particular two-bedroom listing is priced at the modelled amount, especially because ZORI blends rental types.
Housing composition adds an important availability and interpretation limit. The ZCTA contains 10,437 vacant housing units, a calculated 34.5% vacancy rate. Of the vacant units, 1,403 are classified as for rent and 5,785 as seasonal. Renter households make up 62.8% of occupied homes, while large multifamily structures account for 20,535 housing units. Those measures describe the survey’s housing stock and vacancy classifications rather than confirmed current rental availability. In particular, a seasonal or vacant classification cannot demonstrate a unit’s condition, lease readiness, attainable asking rent, or the experience of a prospective renter at a specific address.
The broader context comparisons sharpen the source distinction rather than resolve it. The ZIP has a higher renter share than both the Miami Beach city and Miami-Dade County contexts, while its vacancy rate is close to the city context and far above the county context. Reported ZIP household income is below the city and metro context figures, yet the ZIP’s ACS burden share is lower than the corresponding city and county context shares. These differences are descriptive comparisons across wider geographic scopes, not explanations of local pricing. They also should not be blended with the Zillow index, ACS occupied-renter survey, or HUD standard into one supposedly interchangeable rent statistic.
The direct rolling three-month ZIP resale observation shows a median sold price of $574,870, up 7.5% year over year. It recorded 318 homes sold and a median 139 days on market. Inventory was 760 homes, down 32.3% from a year earlier, while months of supply stood at 7.3. Sale-to-list evidence was restrained: the average sale-to-list ratio was 94.0%, 3.2% of sales closed above list price, and 7.9% went off market within two weeks. This is for-sale liquidity evidence, not rental transaction evidence. Annualized ZIP ZORI divided by median sold price is 6.3%, solely a cross-source screening ratio rather than a net return or property-performance measure. The resale price increase challenges the slower recent rent path, while lengthy marketing time and below-list sale signals temper that price evidence.
Several limits remain material. ZORI cannot identify a specific unit’s bedroom count, condition, utilities, concessions, lease length, or availability date. ACS is a five-year survey of occupied homes with sampling uncertainty, and HUD standards are administrative benchmarks. Redfin describes completed ZIP resale activity over a rolling window, not rental comps or property economics. Relevant property-level checks include the actual advertised rent, bedroom count, utility responsibility, concession terms, lease duration, occupancy status, seasonal classification, physical condition, list-price history, and recent comparable transactions within the appropriate rental or resale universe. The evidence supports no forecast, applicant qualification decision, or investment conclusion; the unresolved issue is whether a particular property’s documented terms align with these broad ZIP measures.
","findings":[{"body":"The Zillow ZIP asking-rent index materially exceeds the ACS median gross rent for the matched ZCTA. This is a source-scope difference as much as a pricing contrast: ZORI reflects typical observed asking rents across rental types, whereas ACS measures occupied renter homes and includes selected utilities. Neither figure identifies the current terms for a particular unit.","title":"Asking-rent index is well above occupied-home survey rent"},{"body":"The one-year and three-year history measures remain positive, yet both are substantially lower than the five-year annualized change. Historical variability and the recorded drawdown show that the index has not moved in a straight line. The history ranks are discovery tools among eligible ZIPs, not predictions of future rent movement or market performance.","title":"Recent rent growth is positive but slower than the long path"},{"body":"The ZCTA has a high reported vacancy rate, with a large seasonal component and a separate count of units classified as for rent. Those categories describe survey housing status, not verified advertised supply. They cannot establish whether an individual vacant unit is habitable, available for a conventional lease, competitively priced, or suitable for a particular household.","title":"Vacancy classifications require caution"},{"body":"ZIP resale prices increased year over year, but the direct resale observation also shows extended marketing time, months of supply, and below-list sale-to-list results. Those indicators belong only to the for-sale market. They create a useful tension with slower recent asking-rent growth, but they do not convert resale data into rental comparables or property-level economics.","title":"Resale pricing and liquidity send mixed signals"}],"risks":["Zillow asking-rent data, ACS gross rent, HUD bedroom standards, and Redfin resale observations cover different populations and purposes; combining them without preserving scope can create misleading conclusions about a specific dwelling.","The reported vacancy rate includes substantial seasonal vacancy and is not proof of conventional rental availability, unit condition, landlord terms, concession levels, or the likelihood that a particular address can be leased.","The required-income calculation is a simple ratio based on the ZIP asking-rent index and does not account for taxes, debt, household composition, utilities beyond selected ACS treatment, subsidies, savings, or applicant underwriting criteria.","Resale price appreciation coexists with slower rent growth and slower sale signals. The annualized-rent-to-sale-price figure is only a cross-source screen and omits expenses, financing, maintenance, taxes, insurance, and property-specific operating details."],"qa":[{"a":"They are different evidence universes. Zillow ZORI is a ZIP-level typical observed asking-rent index blended across rental types. ACS median gross rent is a five-year survey statistic for occupied renter homes and includes selected utilities. The difference can describe a market gap, but neither source is a substitute for the other or a quote for a specific available home.","q":"Why does the report show a Zillow asking-rent figure and an ACS gross-rent figure that differ substantially?"},{"a":"No. They are modelled monthly estimates created by scaling the ZIP Zillow ZORI with the local HUD bedroom ladder. HUD Fair Market Rent or Small Area Fair Market Rent is an administrative bedroom-specific standard, not a record of asking rents. The estimates are useful for a structured comparison but cannot verify a listing’s actual rent, features, or lease terms.","q":"Are the studio through four-bedroom figures observed rents for those bedroom sizes?"},{"a":"It does not describe rental transactions. The Redfin data are direct rolling-three-month ZIP resale observations covering sold prices, homes sold, marketing time, inventory, months of supply, and sale-to-list measures. They can be compared cautiously with rent indicators as separate market evidence, but they cannot serve as rental comps, tenant-demand measures, or property operating results.","q":"What does the resale section say about the rental market?"},{"a":"Both are area-level survey measures with important limits. Vacancy includes categories such as seasonal and for-rent units, so it does not demonstrate that a given residence is available or lease-ready. Rent burden reports the share of occupied renter households meeting the survey threshold; it does not establish the financial position, actual rent, or affordability of a specific current renter.","q":"How should the vacancy and rent-burden figures 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 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