Current asking-rent evidence sets up the central tension. Zillow ZORI is $2,762 per month and has risen 2.25% over the past year. It is a ZIP-level typical observed asking-rent index blended across rental types, rather than a lease-level quote or a utility-inclusive survey median. For wider context only, Fort Lauderdale city’s asking-rent context is $2,794, Broward County’s asking-rent context is $2,517, and the Miami-Fort Lauderdale-Pompano Beach, FL metro’s asking-rent context is $2,695. The ZIP therefore sits just under the city and metro context but above county context; these are differently scoped comparisons, not substitutes for ZIP-specific listings.
Backward-looking Zillow ZIP history is positive, though its pace has cooled from the longer path. Exact same-month annualized change was 2.25% over 1 year, 2.44% over 3 years, and 6.79% over 5 years. Recent direction therefore confirms the longer upward direction, but breaks from the older, faster growth pace. The history series has complete coverage. Month-to-month return variability annualizes to 2.94%, so a single current ZORI reading still warrants measured confidence rather than precision beyond the index’s scope. Its maximum drawdown was 2.07%, documenting a prior retreat despite the positive multiyear record. Transparent national discovery ranks among history-eligible ZIPs were 1,337 for momentum, 1,518 for stability, and 1,441 for the balanced score, where lower ranks place higher. These are backward-looking measurements, not forecasts or investment recommendations.
Geographic and source definitions matter before comparing rent figures. The five-digit label 33312 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. In the ACS 2024 5-year survey, the median gross rent for occupied renter homes was $1,703. ACS gross rent includes selected utilities and describes surveyed occupied renter homes, whereas ZORI tracks current typical observed asking rents across rental types. The ACS median is 62.2% below the current asking-rent index, a gap that should not be treated as a contradiction or as a like-for-like rent comparison. It instead highlights different populations, timing, rent concepts, and utility treatment.
The bedroom view is a modelled ladder, not a set of measured bedroom rents. Scaling ZIP ZORI by the local HUD bedroom ladder produces modelled monthly estimates of $2,117 for a studio, $2,251 for one bedroom, $2,762 for two bedrooms, $3,702 for three bedrooms, and $4,277 for four bedrooms. The local HUD FY2026 two-bedroom FMR is $2,333. HUD FMR/SAFMR is an administrative, bedroom-specific standard rather than asking rent, and the HUD values are used here only to preserve local bedroom relationships while scaling the ZIP-wide ZORI level. Actual asking rents can differ by property condition, lease terms, utility treatment, availability, and the mix of rentals represented by the index.
The income screen underscores the gap between current asking rents and the area’s survey income benchmark. Annualizing the $2,762 ZORI and applying a 30% threshold produces a required household income of $110,480. That arithmetic screen is not advice, an applicant qualification rule, or a prediction of what any household pays. Relative to the ACS median household income of $75,952, annualized ZORI equals 43.6% of median income. Separately, ACS reports that 59.1% of renter households had rent burdens of at least 30% of income. Burden is a household-level survey measure, not proof that a specific currently listed unit is unaffordable or that a specific renter has a particular payment burden.
Housing-stock evidence provides a separate ACS ZCTA view of occupancy and tenure. The vacancy rate is 12.5%, while renter-occupied homes account for 36.3% of occupied units. The recorded structure mix contains more single-family units than units in large multifamily structures, indicating that the renter population and the stock composition should not be assumed to map exclusively to conventional apartment properties. Vacant units are also classified across rental, sale, seasonal, and other uses. Consequently, the vacancy figure is not evidence that a particular rental is available, competitively priced, or likely to lease at the current asking-rent index.
The direct ZIP resale record presents a different, and somewhat challenging, market signal. In Redfin’s rolling three-month ZIP for-sale observation, median sold price was $524,881, down 7.51% year over year; 171 homes sold and median marketing time was 77 days. Inventory stood at 267 homes with 4.7 months of supply. Average sale-to-list was 95.58%, and 10.25% of sales closed above list price. These are for-sale transaction and listing signals, not rental transactions or rental comparables. The softer resale price and sale-to-list evidence contrasts with the still-positive asking-rent history and the demanding income screen, so the resale record challenges any simple reading that all local housing indicators are moving together.
Annualized ZIP ZORI divided by median sold price equals a 6.31% cross-source screening ratio only. It is not a property-level performance measure because it excludes expenses, financing, taxes, insurance, maintenance, vacancy experience, lease concessions, and differences between the ZORI rental mix and the sold-home mix. The evidence also cannot establish future rents, future sale prices, or outcomes for a particular address. Concrete property-level checks should include bedroom count, property type and condition, live comparable asking rents, utility inclusion, lease duration, concessions, actual availability, and the sale dates and characteristics underlying any resale comparison. The unresolved question is whether a specific available property matches the broad ZIP index and survey benchmarks closely enough to support a meaningful comparison.
","findings":[{"body":"Current ZIP ZORI increased over the latest year and remains positive over the one-, three-, and five-year same-month windows. However, the latest annual pace is below both the three-year and especially the five-year annualized pace. The evidence supports a slowing positive historical path, not an expectation about future rent movement.","title":"Asking rent is rising, but the historical pace has slowed"},{"body":"ZORI measures a typical observed asking-rent index across rental types, while ACS median gross rent summarizes occupied renter households over a five-year survey period and includes selected utilities. The two figures describe distinct timing, populations, and rent concepts. They should be read together as context, not merged into a single market-rent estimate.","title":"The large asking-versus-survey-rent gap is definitional as well as numeric"},{"body":"The arithmetic income required to keep annualized ZORI at thirty percent of income exceeds the ACS median household income benchmark. Meanwhile, a majority of surveyed renter households report burdens at or above thirty percent. These measures describe area-level screening conditions and surveyed households, not a qualification outcome or burden for any individual unit.","title":"Income and burden measures point to a meaningful screening tension"},{"body":"The direct ZIP resale record shows a lower year-over-year median sold price, marketing time measured in months rather than days, supply, and average sales below list price. Those for-sale signals contrast with the positive current ZORI trend. Because Redfin resale data and Zillow asking-rent data cover different transaction universes, the contrast is a decision tension rather than evidence of a causal relationship.","title":"Resale conditions do not simply mirror the rent index"}],"risks":["Zillow ZORI is a blended asking-rent index, so it cannot identify the rent, concessions, utilities, condition, bedroom count, or availability of a particular currently marketed property.","ACS ZCTA statistics are five-year survey estimates for a statistical area that does not exactly equal a USPS delivery ZIP, so household, rent, burden, and vacancy figures are not address-level facts.","HUD FMR/SAFMR is an administrative bedroom-specific standard, and the derived bedroom figures are modelled estimates based on the HUD ladder rather than measured rents for studio through four-bedroom listings.","Redfin resale observations describe a rolling ZIP for-sale market and may differ materially from rental stock, timing, property type, and economics; they cannot establish rental transactions or property-specific outcomes."],"qa":[{"a":"They measure different universes. Zillow ZORI is a current ZIP-level typical observed asking-rent index blended across rental types. ACS median gross rent is a five-year survey measure of occupied renter homes and includes selected utilities. Different timing, household populations, utility treatment, and rent concepts can produce a substantial gap without either source being incorrect.","q":"Why do Zillow ZORI and ACS median gross rent differ so much?"},{"a":"No. The studio through four-bedroom figures are modelled monthly ZIP estimates. They scale the ZIP-wide Zillow ZORI using the local HUD bedroom ladder to show a consistent bedroom relationship. HUD FMR or SAFMR is an administrative standard rather than asking rent, so these modelled figures should not be treated as measured listing rents.","q":"Are the bedroom rent figures observed asking rents?"},{"a":"It is a simple arithmetic screen: annualized ZIP ZORI divided by thirty percent. It shows the household income associated with allocating thirty percent of gross income to that index level. It is not financial advice, a landlord policy, an applicant qualification standard, or evidence of what any particular household can afford.","q":"What does the thirty-percent required-income calculation mean?"},{"a":"Use the Redfin observations only as direct ZIP for-sale context. Median sold price, marketing time, supply, and sale-to-list measures describe resale conditions, not rentals. Annualized ZORI divided by median sold price is only a cross-source screening ratio; it omits property expenses and does not measure address-level economics or future performance.","q":"How should the resale data be used alongside the rent 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":"2015-01-01","rent":1369.166506},{"period":"2015-02-01","rent":1368.260324},{"period":"2015-03-01","rent":1364.246855},{"period":"2015-04-01","rent":1364.782236},{"period":"2015-05-01","rent":1370.097473},{"period":"2015-06-01","rent":1391.160623},{"period":"2015-07-01","rent":1400.276144},{"period":"2015-08-01","rent":1411.79203},{"period":"2015-09-01","rent":1407.520524},{"period":"2015-10-01","rent":1423.179649},{"period":"2015-11-01","rent":1436.640005},{"period":"2015-12-01","rent":1435.29124},{"period":"2016-01-01","rent":1437.198835},{"period":"2016-02-01","rent":1436.082979},{"period":"2016-03-01","rent":1440.645824},{"period":"2016-04-01","rent":1446.888514},{"period":"2016-05-01","rent":1452.219087},{"period":"2016-06-01","rent":1456.64104},{"period":"2016-07-01","rent":1466.350582},{"period":"2016-08-01","rent":1462.196048},{"period":"2016-09-01","rent":1467.723683},{"period":"2016-10-01","rent":1458.763921},{"period":"2016-11-01","rent":1465.473958},{"period":"2016-12-01","rent":1476.46177},{"period":"2017-01-01","rent":1486.650695},{"period":"2017-02-01","rent":1500.942632},{"period":"2017-03-01","rent":1514.362999},{"period":"2017-04-01","rent":1522.92409},{"period":"2017-05-01","rent":1516.320874},{"period":"2017-06-01","rent":1515.234599},{"period":"2017-07-01","rent":1510.092604},{"period":"2017-08-01","rent":1520.020365},{"period":"2017-09-01","rent":1532.848639},{"period":"2017-10-01","rent":1543.171046},{"period":"2017-11-01","rent":1544.130399},{"period":"2017-12-01","rent":1547.541487},{"period":"2018-01-01","rent":1557.230077},{"period":"2018-02-01","rent":1558.985825},{"period":"2018-03-01","rent":1568.144481},{"period":"2018-04-01","rent":1569.223858},{"period":"2018-05-01","rent":1578.622992},{"period":"2018-06-01","rent":1577.719791},{"period":"2018-07-01","rent":1575.205177},{"period":"2018-08-01","rent":1588.148226},{"period":"2018-09-01","rent":1595.289831},{"period":"2018-10-01","rent":1603.111281},{"period":"2018-11-01","rent":1602.700309},{"period":"2018-12-01","rent":1612.187232},{"period":"2019-01-01","rent":1600.024538},{"period":"2019-02-01","rent":1616.995051},{"period":"2019-03-01","rent":1616.047053},{"period":"2019-04-01","rent":1623.514276},{"period":"2019-05-01","rent":1632.023173},{"period":"2019-06-01","rent":1645.582108},{"period":"2019-07-01","rent":1661.616739},{"period":"2019-08-01","rent":1660.861064},{"period":"2019-09-01","rent":1661.675595},{"period":"2019-10-01","rent":1665.946552},{"period":"2019-11-01","rent":1678.294873},{"period":"2019-12-01","rent":1681.469558},{"period":"2020-01-01","rent":1698.728828},{"period":"2020-02-01","rent":1696.539858},{"period":"2020-03-01","rent":1722.817386},{"period":"2020-04-01","rent":1687.238076},{"period":"2020-05-01","rent":1690.270379},{"period":"2020-06-01","rent":1707.813824},{"period":"2020-07-01","rent":1722.713562},{"period":"2020-08-01","rent":1756.656651},{"period":"2020-09-01","rent":1759.907529},{"period":"2020-10-01","rent":1806.728208},{"period":"2020-11-01","rent":1802.944864},{"period":"2020-12-01","rent":1815.767025},{"period":"2021-01-01","rent":1796.074589},{"period":"2021-02-01","rent":1830.170983},{"period":"2021-03-01","rent":1867.940723},{"period":"2021-04-01","rent":1924.137882},{"period":"2021-05-01","rent":1951.507379},{"period":"2021-06-01","rent":1989.361505},{"period":"2021-07-01","rent":2027.43908},{"period":"2021-08-01","rent":2049.608056},{"period":"2021-09-01","rent":2098.816585},{"period":"2021-10-01","rent":2125.684895},{"period":"2021-11-01","rent":2191.394408},{"period":"2021-12-01","rent":2261.799737},{"period":"2022-01-01","rent":2302.278111},{"period":"2022-02-01","rent":2336.275968},{"period":"2022-03-01","rent":2322.843355},{"period":"2022-04-01","rent":2385.331565},{"period":"2022-05-01","rent":2441.579282},{"period":"2022-06-01","rent":2476.241199},{"period":"2022-07-01","rent":2486.985559},{"period":"2022-08-01","rent":2509.64045},{"period":"2022-09-01","rent":2533.11771},{"period":"2022-10-01","rent":2528.198448},{"period":"2022-11-01","rent":2509.336737},{"period":"2022-12-01","rent":2499.48618},{"period":"2023-01-01","rent":2536.977245},{"period":"2023-02-01","rent":2551.08657},{"period":"2023-03-01","rent":2585.416391},{"period":"2023-04-01","rent":2574.019254},{"period":"2023-05-01","rent":2567.965316},{"period":"2023-06-01","rent":2570.082479},{"period":"2023-07-01","rent":2573.341112},{"period":"2023-08-01","rent":2570.231884},{"period":"2023-09-01","rent":2575.635781},{"period":"2023-10-01","rent":2599.38254},{"period":"2023-11-01","rent":2645.182336},{"period":"2023-12-01","rent":2644.556248},{"period":"2024-01-01","rent":2638.510432},{"period":"2024-02-01","rent":2634.102382},{"period":"2024-03-01","rent":2646.620684},{"period":"2024-04-01","rent":2644.027101},{"period":"2024-05-01","rent":2636.31749},{"period":"2024-06-01","rent":2634.528017},{"period":"2024-07-01","rent":2653.621622},{"period":"2024-08-01","rent":2666.464877},{"period":"2024-09-01","rent":2650.337876},{"period":"2024-10-01","rent":2645.20851},{"period":"2024-11-01","rent":2639.779415},{"period":"2024-12-01","rent":2668.880024},{"period":"2025-01-01","rent":2668.142222},{"period":"2025-02-01","rent":2674.838811},{"period":"2025-03-01","rent":2691.232969},{"period":"2025-04-01","rent":2712.459381},{"period":"2025-05-01","rent":2704.839145},{"period":"2025-06-01","rent":2701.583287},{"period":"2025-07-01","rent":2698.929563},{"period":"2025-08-01","rent":2701.552046},{"period":"2025-09-01","rent":2720.264767},{"period":"2025-10-01","rent":2728.097446},{"period":"2025-11-01","rent":2726.427469},{"period":"2025-12-01","rent":2718.587608},{"period":"2026-01-01","rent":2727.106399},{"period":"2026-02-01","rent":2734.54688},{"period":"2026-03-01","rent":2723.595142},{"period":"2026-04-01","rent":2723.510726},{"period":"2026-05-01","rent":2746.479348},{"period":"2026-06-01","rent":2762.473779}],"historySummary":{"pointCount":138,"firstPeriod":"2015-01-01","latestPeriod":"2026-06-01","coverageMonths":138,"coverageRatio":1,"changes":{"1":{"years":1,"startPeriod":"2025-06-01","endPeriod":"2026-06-01","startRent":2701.583287,"endRent":2762.473779,"change":0.022538817253202836,"cagr":0.022538817253202836},"3":{"years":3,"startPeriod":"2023-06-01","endPeriod":"2026-06-01","startRent":2570.082479,"endRent":2762.473779,"change":0.07485802559723997,"cagr":0.02435470804860773},"5":{"years":5,"startPeriod":"2021-06-01","endPeriod":"2026-06-01","startRent":1989.361505,"endRent":2762.473779,"change":0.38862332062668514,"cagr":0.06786632399771553}},"maxDrawdown":-0.020651817359823132,"annualizedVolatility":0.02944224298622491,"consecutiveReturnCount":137}}