June 2026 Zillow ZIP-level ZORI for 33407 is $2,302 per month. ZORI is a typical observed asking-rent index blended across rental types, rather than a quote for a particular available unit. For wider context, the City of West Palm Beach context asking-rent measure is $2,392, Palm Beach County context rent is $2,662, and the Miami-Fort Lauderdale-Pompano Beach, FL metro context rent is $2,695. The ZIP index therefore sits below each named broader-geography reference, but that relative position does not settle whether its current asking-rent level fits local household resources.
The resource tension is pronounced. Median household income in the matched area is $59,993, while a 30% required-income screen applied to the current ZIP asking-rent index produces $92,080. Annualized asking rent equals 46.0% of that median income. This 30% screen is arithmetic, not advice and not an applicant qualification rule. In the ACS 2024 five-year survey, median gross rent is $1,608 and 4,063 renter households, or 62.5%, reported spending 30% or more of income on rent. ACS gross rent covers occupied renter homes and includes selected utilities; it is not a current asking-rent series, and burden cannot establish the circumstances of any particular household or unit.
The geographic match also needs careful handling: 33407 is both the Zillow ZIP market identifier and its matched Census ZCTA, but a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. The supplied HUD FY2026 FMR/SAFMR ladder is an administrative, bedroom-specific standard, not asking rent. Scaling ZIP ZORI with that local HUD ladder produces modelled estimates of $1,764 for a studio, $1,876 for one bedroom, $2,302 for two bedrooms, $3,085 for three bedrooms, and $3,565 for four bedrooms. These are modelled estimates, not measured bedroom rents, so actual listings can depart with unit condition, utilities, concessions, and lease terms.
The rent history shows continued growth but a substantially slower recent pace than the longer record. Exact same-month changes annualize to 1.5% over one year, 3.1% over three years, and 9.1% over five years. Thus, the recent direction confirms a positive longer-run path while breaking from its much faster five-year pace. The monthly-return series annualizes to 4.6% variability; separately, the largest peak-to-trough retreat was 3.4%. Coverage reaches 99.3% across 137 observations and 135 consecutive returns, supporting a nearly complete record, but the high-variability classification warrants less confidence in any single current snapshot. The transparent discovery ranks are 1,373 for momentum, 2,762 for stability, and 2,298 for the balanced measure among history-eligible ZIPs, where lower ranks are higher. These are backward-looking measurements, not forecasts.
Housing composition supplies additional context without identifying current unit availability. The matched ZCTA reports 2,520 vacant housing units and a 16.0% overall vacancy rate, while renters occupy 49.0% of occupied homes. Its reported stock includes 8,223 single-family units and 3,203 large multifamily units. Vacancies include distinct uses, including for-rent and seasonal categories, so the total vacancy figure should not be read as a count of rentable homes competing for a tenant today. Likewise, the renter share describes occupied housing in the survey universe rather than the composition of Zillow’s asking-rent index.
For-sale evidence offers a separate tension. Redfin’s direct rolling-three-month ZIP resale observation reports a $373,916 median sold price, up 3.9% year over year, with 111 homes sold and a 68-day median marketing time. Inventory was 197 homes and months of supply stood at 5.4. The average sale-to-list ratio was 96.4%; 16.7% of sales closed above list, while 17.0% went off market within two weeks. The price increase is confirmation only within the resale universe. Meanwhile, marketing time, supply, and below-list average execution challenge a simple interpretation of uniformly tight resale conditions and do not describe rental transactions.
Annualized ZIP ZORI divided by the Redfin median sold price equals a 7.4% cross-source screening ratio. It is not a measure of property-level economics because it combines a blended asking-rent index with a rolling resale median and excludes unit-specific expenses, financing, occupancy, and transaction differences. The resale result therefore neither validates nor overturns the affordability screen: resale prices increased, yet current asking rent still requires substantially more income under the arithmetic screen than the area median household income. The slower one-year rent gain also makes it important not to extend the stronger five-year history into a current-unit conclusion.
The evidence supports comparison, not a verdict on a specific property. Property-level work would need to confirm the actual advertised rent, legal bedroom count, lease length, included utilities, recurring fees, concessions, and move-in requirements before comparing a listing with the modelled ladder or ACS gross rent. A resale comparison would separately need matched sale dates, physical condition, unit type, and listing-versus-closing details. Neither the ZCTA burden and vacancy figures nor the ZIP resale indicators prove rentability, affordability, sale liquidity, or operating outcomes for any particular home. Which verified unit-level facts would materially change the comparison?
","findings":[{"body":"The ZIP asking-rent index is below the named city, county, and metro context measures, which may look comparatively moderate at first glance. The local income comparison creates a different result: annualized asking rent consumes a large share of the matched area’s median household income, and the arithmetic income needed for a 30% screen is materially higher than that median.","title":"Asking rent is below broader context but strains the income screen"},{"body":"ACS median gross rent is lower than the current Zillow index, but the two series are not interchangeable. ACS is a five-year survey of occupied renter homes and includes selected utilities, while ZORI tracks a blended typical asking-rent index. The gap is useful for framing change in market conditions and source coverage, not for pricing a particular apartment.","title":"Survey rent and current asking rent answer different questions"},{"body":"Same-month rent changes remain positive across the supplied horizons, but the one-year pace is slower than the three- and five-year rates. Near-complete historical coverage strengthens the descriptive record, while elevated return variability and a documented drawdown reduce the confidence that should be placed in one current rent observation. The supplied ranks are discovery tools, not predictions.","title":"Rent history remains positive, though the recent pace has cooled"},{"body":"The direct ZIP resale data show a year-over-year increase in median sold price, yet the marketing-time, supply, sale-to-list, and above-list signals do not read as an unqualified fast-selling environment. That contrast is useful because it prevents treating resale price appreciation as confirmation of rental tightness, rental demand, or property-specific economics.","title":"Resale pricing strength coexists with less urgent transaction signals"}],"risks":["Zillow asking rent, ACS gross rent, HUD bedroom standards, and Redfin resale observations cover different populations, time windows, and transaction types, so direct substitution between their values can create false precision.","The rent-history record is backward-looking and classified as high variability. Positive long-horizon growth does not establish future asking rents, while a single current index observation may not represent every unit type.","ZCTA vacancy, renter share, and rent-burden results are area-level survey measures. They cannot prove that a particular listing is vacant, affordable to a particular household, or likely to remain available.","The resale screening ratio combines annualized asking rent with a median sold price. It omits property condition, expenses, financing, occupancy, taxes, insurance, and unit matching, preventing property-level economic conclusions."],"qa":[{"a":"They are built from different evidence universes. ACS is a five-year survey of occupied renter homes and includes selected utilities in gross rent, whereas Zillow ZORI is a current typical observed asking-rent index blended across rental types. The difference may frame the gap between existing occupied leases and current asking conditions, but it does not identify the rent of an individual unit.","q":"Why is the ACS gross-rent figure lower than Zillow’s current asking-rent index?"},{"a":"No. The studio through four-bedroom figures are modelled estimates created by scaling the ZIP ZORI level with the local HUD bedroom ladder. HUD FMR/SAFMR is an administrative bedroom-specific standard rather than an asking-rent dataset. Actual listings can differ because the model does not observe a particular building, condition level, utility package, concession, or lease structure.","q":"Are the bedroom figures observed rents for available apartments?"},{"a":"The record shows that rents have increased over the supplied one-, three-, and five-year same-month horizons, but the latest annual pace is slower than the longer paths. High variability and a measured drawdown mean the current index should be treated as one backward-looking market snapshot with uncertainty, not as a forecast, investment conclusion, or guaranteed direction.","q":"How should the rent-history measures affect interpretation of the current ZORI value?"},{"a":"No. Redfin’s figures are direct rolling-three-month ZIP resale observations, covering sold price, liquidity, supply, marketing time, and sale-to-list behavior in the for-sale market. Dividing annualized ZORI by that median price creates only a cross-source screening ratio. It does not match a rental unit to a sold home or include the unit-specific costs and terms needed for property-level analysis.","q":"Does the Redfin median sold price establish rental economics for this ZIP?"}],"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":975.827373},{"period":"2015-02-01","rent":992.793882},{"period":"2015-03-01","rent":1013.71442},{"period":"2015-04-01","rent":1033.433893},{"period":"2015-05-01","rent":1039.995132},{"period":"2015-06-01","rent":1051.593435},{"period":"2015-07-01","rent":1043.062833},{"period":"2015-08-01","rent":1044.587027},{"period":"2015-09-01","rent":1046.141466},{"period":"2015-10-01","rent":1050.253646},{"period":"2015-11-01","rent":1070.518642},{"period":"2015-12-01","rent":1079.483266},{"period":"2016-01-01","rent":1082.870112},{"period":"2016-02-01","rent":1058.427524},{"period":"2016-03-01","rent":1060.707117},{"period":"2016-04-01","rent":1076.652102},{"period":"2016-05-01","rent":1091.440107},{"period":"2016-06-01","rent":1086.475377},{"period":"2016-07-01","rent":1085.120425},{"period":"2016-08-01","rent":1081.194781},{"period":"2016-09-01","rent":1084.403974},{"period":"2016-10-01","rent":1088.341441},{"period":"2016-11-01","rent":1088.205927},{"period":"2016-12-01","rent":1102.371426},{"period":"2017-01-01","rent":1119.346558},{"period":"2017-02-01","rent":1140.360139},{"period":"2017-03-01","rent":1141.213444},{"period":"2017-04-01","rent":1120.769546},{"period":"2017-05-01","rent":1112.924193},{"period":"2017-06-01","rent":1115.28746},{"period":"2017-07-01","rent":1133.730914},{"period":"2017-08-01","rent":1153.794524},{"period":"2017-09-01","rent":1160.670024},{"period":"2017-10-01","rent":1167.803034},{"period":"2017-11-01","rent":1159.895111},{"period":"2017-12-01","rent":1165.736338},{"period":"2018-01-01","rent":1168.538739},{"period":"2018-02-01","rent":1187.576962},{"period":"2018-03-01","rent":1178.006321},{"period":"2018-04-01","rent":1192.160189},{"period":"2018-05-01","rent":1197.960393},{"period":"2018-06-01","rent":1224.177087},{"period":"2018-07-01","rent":1219.616234},{"period":"2018-08-01","rent":1219.103081},{"period":"2018-09-01","rent":1217.627053},{"period":"2018-10-01","rent":1217.396551},{"period":"2018-11-01","rent":1233.809606},{"period":"2018-12-01","rent":1227.024439},{"period":"2019-01-01","rent":1233.270576},{"period":"2019-02-01","rent":1229.383659},{"period":"2019-03-01","rent":1246.610783},{"period":"2019-04-01","rent":1252.806531},{"period":"2019-05-01","rent":1259.802055},{"period":"2019-06-01","rent":1249.171856},{"period":"2019-07-01","rent":1253.670813},{"period":"2019-08-01","rent":1254.323457},{"period":"2019-09-01","rent":1260.54079},{"period":"2019-10-01","rent":1265.141701},{"period":"2019-11-01","rent":1264.351196},{"period":"2019-12-01","rent":1271.331452},{"period":"2020-01-01","rent":1268.983721},{"period":"2020-02-01","rent":1265.852487},{"period":"2020-03-01","rent":1278.275075},{"period":"2020-04-01","rent":1283.689522},{"period":"2020-05-01","rent":1286.498652},{"period":"2020-06-01","rent":1293.826776},{"period":"2020-07-01","rent":1316.550546},{"period":"2020-08-01","rent":1344.049673},{"period":"2020-09-01","rent":1346.172951},{"period":"2020-10-01","rent":1360.783518},{"period":"2020-11-01","rent":1344.457408},{"period":"2020-12-01","rent":1350.675313},{"period":"2021-01-01","rent":1371.691702},{"period":"2021-02-01","rent":1399.222803},{"period":"2021-03-01","rent":1425.460499},{"period":"2021-05-01","rent":1458.811099},{"period":"2021-06-01","rent":1487.064733},{"period":"2021-07-01","rent":1505.851835},{"period":"2021-08-01","rent":1533.35695},{"period":"2021-09-01","rent":1581.550186},{"period":"2021-10-01","rent":1605.877484},{"period":"2021-11-01","rent":1716.440107},{"period":"2021-12-01","rent":1776.342144},{"period":"2022-01-01","rent":1877.032988},{"period":"2022-02-01","rent":1875.999218},{"period":"2022-03-01","rent":1899.086112},{"period":"2022-04-01","rent":1991.964343},{"period":"2022-05-01","rent":2050.718758},{"period":"2022-06-01","rent":2123.222839},{"period":"2022-07-01","rent":2106.381927},{"period":"2022-08-01","rent":2108.914273},{"period":"2022-09-01","rent":2111.574862},{"period":"2022-10-01","rent":2131.377119},{"period":"2022-11-01","rent":2112.388835},{"period":"2022-12-01","rent":2096.876695},{"period":"2023-01-01","rent":2059.981289},{"period":"2023-02-01","rent":2084.429392},{"period":"2023-03-01","rent":2110.704022},{"period":"2023-04-01","rent":2121.671942},{"period":"2023-05-01","rent":2112.225521},{"period":"2023-06-01","rent":2098.451097},{"period":"2023-07-01","rent":2126.163003},{"period":"2023-08-01","rent":2137.712595},{"period":"2023-09-01","rent":2154.526366},{"period":"2023-10-01","rent":2159.370874},{"period":"2023-11-01","rent":2149.894579},{"period":"2023-12-01","rent":2158.700102},{"period":"2024-01-01","rent":2161.263694},{"period":"2024-02-01","rent":2182.819114},{"period":"2024-03-01","rent":2200.074313},{"period":"2024-04-01","rent":2170.130896},{"period":"2024-05-01","rent":2161.314667},{"period":"2024-06-01","rent":2126.756751},{"period":"2024-07-01","rent":2132.263404},{"period":"2024-08-01","rent":2153.208806},{"period":"2024-09-01","rent":2178.350087},{"period":"2024-10-01","rent":2230.851582},{"period":"2024-11-01","rent":2251.727733},{"period":"2024-12-01","rent":2275.989227},{"period":"2025-01-01","rent":2241.442714},{"period":"2025-02-01","rent":2237.85915},{"period":"2025-03-01","rent":2208.345853},{"period":"2025-04-01","rent":2231.159561},{"period":"2025-05-01","rent":2235.546286},{"period":"2025-06-01","rent":2267.336552},{"period":"2025-07-01","rent":2264.864097},{"period":"2025-08-01","rent":2254.506091},{"period":"2025-09-01","rent":2237.695946},{"period":"2025-10-01","rent":2203.649314},{"period":"2025-11-01","rent":2205.983626},{"period":"2025-12-01","rent":2198.900297},{"period":"2026-01-01","rent":2241.285301},{"period":"2026-02-01","rent":2243.700092},{"period":"2026-03-01","rent":2267.042992},{"period":"2026-04-01","rent":2274.428455},{"period":"2026-05-01","rent":2291.61666},{"period":"2026-06-01","rent":2301.68287}],"historySummary":{"pointCount":137,"firstPeriod":"2015-01-01","latestPeriod":"2026-06-01","coverageMonths":138,"coverageRatio":0.9927536231884058,"changes":{"1":{"years":1,"startPeriod":"2025-06-01","endPeriod":"2026-06-01","startRent":2267.336552,"endRent":2301.68287,"change":0.015148310456911673,"cagr":0.015148310456911673},"3":{"years":3,"startPeriod":"2023-06-01","endPeriod":"2026-06-01","startRent":2098.451097,"endRent":2301.68287,"change":0.09684846756283494,"cagr":0.031293334813300655},"5":{"years":5,"startPeriod":"2021-06-01","endPeriod":"2026-06-01","startRent":1487.064733,"endRent":2301.68287,"change":0.5478027411467099,"cagr":0.0912974044908601}},"maxDrawdown":-0.033870516206973234,"annualizedVolatility":0.046021066557828685,"consecutiveReturnCount":135}}