At a current ZIP asking-rent index of $2,724 per month, 33445’s clearest measured tension is between today’s asking market and the renter survey baseline. The ACS median gross rent is $2,045, placing the asking index 33.2% higher. At the same time, 62.4% of surveyed renter households report paying 30% or more of income toward rent, while median household income is $78,163. Applying the 30% screen to the current asking index produces required income of $108,960 and an asking-rent-to-income ratio of 41.8%. That screen is arithmetic, not advice or an applicant qualification rule, and the burden result does not establish what any particular household or unit can afford.
The recent rent path is positive but notably slower than its longer record. Exact same-month annualized Zillow ZORI change was 1.4% over one-year, 1.9% over three-year, and 5.3% over five-year periods. Thus, the one-year result confirms continued upward movement, but it breaks from the stronger five-year pace rather than extending it. A 3.7% annualized monthly-return variability means one current rent snapshot deserves measured confidence: the index has moved around enough month to month that a small current increase should not be overread. Separately, the deepest recorded drawdown was 2.3%, showing a limited historical retreat within an otherwise rising record. Coverage is complete across 138 observations and 137 consecutive monthly changes. Transparent national discovery ranks place momentum at 1,700, stability at 2,366, and the balanced measure at 2,339 among history-eligible ZIPs, where lower rank is higher; these are backward-looking measurements, not forecasts or investment recommendations.
The current figure is Zillow ZORI, a typical observed asking-rent index blended across rental types, rather than a lease-specific quote or a survey of occupied homes. The local bedroom figures are modelled estimates created by scaling ZIP ZORI with the local HUD ladder: $2,088 for a studio, $2,220 for one bedroom, $2,724 for two bedrooms, $3,651 for three bedrooms, and $4,219 for four bedrooms. They are not measured bedroom rents. HUD’s two-bedroom $2,333 Fair Market Rent or Small Area Fair Market Rent reference is an administrative, bedroom-specific standard rather than asking rent; the ZIP asking index is 16.8% above that reference. ACS median gross rent is different again: it is a five-year survey measure for occupied renter homes that includes selected utilities, explaining why it should not be treated as a direct substitute for either ZORI or HUD.
The 33445 label 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. In the matched ACS geography, the housing stock contains 17,962 units, of which 14,665 are occupied and 3,297 are vacant, an 18.4% vacancy rate. Renter households account for 31.2% of occupied homes. Vacancy composition matters: 2,084 units are seasonal, compared with 426 vacant for rent and 116 vacant for sale. The stock also includes 8,800 single-family units and 2,150 units in large multifamily structures. These aggregates describe the ZCTA’s survey-based housing composition; neither the vacancy total nor the burden share proves availability, condition, or affordability for a specific rental.
Wider benchmarks put the ZIP’s asking index in a narrow but uneven regional band. The Delray Beach city-context asking-rent index is $2,788, Palm Beach County context is $2,662, and the Miami-Fort Lauderdale-Pompano Beach, FL metro-context figure is $2,695. In other words, the ZIP sits below the named city context but above the county and metro contexts. Those city, county, and metro figures are wider-geography context only, not substitutes for direct 33445 conditions. The comparison reinforces the main affordability tension because the ZIP is not an unusually low-rent pocket within these supplied context measures, even though its latest rent growth has moderated substantially from the five-year history.
Redfin provides a separate, direct rolling-three-month ZIP resale observation, and it describes for-sale transactions rather than rental transactions. Within that resale universe, median sold price was $364,918, up 7.3% year over year; 195 homes sold and median marketing time was 80 days. Inventory stood at 292 homes with 4.5 months of supply. Sale-to-list signals were restrained: the average sale-to-list ratio was 94.9%, 5.3% of homes sold above list, and 20.0% went off market within two weeks. This resale picture creates a useful tension with rent history. Sold prices rose more sharply than the current asking-rent index, while marketing time and below-list average sales do not indicate uniformly rapid resale execution. Annualized ZIP ZORI divided by median sold price equals a 9.0% cross-source screening ratio only; it is not a measure of a property’s expenses, financing, operating income, or transaction-specific economics.
Several limits keep the evidence from resolving the tension on its own. ZORI does not identify unit size, condition, concessions, lease duration, included utilities, or whether a listing remains available. The ACS figures summarize occupied renter homes over a multi-year survey period, while HUD standards serve administrative program purposes and Redfin tracks resale, not rental, activity. Historical variability further limits confidence in treating one month’s index as a fixed market clearing level. The seasonal-vacancy concentration also means the overall vacancy rate should not be converted into a count of immediately rentable homes. These distinctions matter most where a reader tries to compare an asking index with a household-income survey or with a sold-home median.
A property-level review should therefore test the specific unit against the broad signals rather than assume the broad signals answer it. Confirm the actual advertised rent, bedroom count, property type, square footage, included utilities, lease term, concessions, and listing status; then compare those details with the modelled bedroom estimate rather than treating that estimate as a comp. For a resale-linked question, verify the particular sale date, list-price history, condition, and transaction terms because the Redfin measures are ZIP-wide rolling observations. The evidence supports a clear reading of the present: asking rent remains elevated against surveyed renter income and gross rent, historical growth has cooled, and the resale market supplies a separate price-and-liquidity signal that should not be merged with rental evidence.
","findings":[{"body":"The current Zillow asking-rent index is materially above the matched ACS median gross-rent measure, while the required-income arithmetic exceeds the reported median household income. This is a meaningful affordability screen, but it is not evidence that every renter pays the asking index or that any specific applicant would fail a qualification standard.","title":"Asking-rent and household-income gap"},{"body":"One-year and three-year same-month rent changes are positive, yet both trail the five-year annualized change. That pattern points to continued historical appreciation in the index with a slower recent pace. Monthly variability and the recorded drawdown mean the current reading should be interpreted as a snapshot with a documented range of prior movement.","title":"Growth remains positive, but the pace has cooled"},{"body":"The studio-through-four-bedroom figures use the ZIP asking-rent index and the local HUD bedroom ladder. They provide a consistent modelled structure for comparing bedroom sizes, but they do not replace active listings, signed leases, or unit-level comparable rents. HUD’s underlying standard also belongs to an administrative universe rather than the asking market.","title":"Bedroom figures are scaled estimates, not observed rents"},{"body":"Redfin’s direct ZIP resale data show a year-over-year increase in median sold price while sale-to-list and marketing-time measures indicate a less uniformly urgent resale setting. That tension matters because resale price movement is separate from asking-rent movement. The annualized-rent-to-sold-price figure is only a cross-source screening ratio, not property-specific economics.","title":"Resale evidence challenges a simple rent-only reading"}],"risks":["The asking-rent index combines rental types and cannot identify a specific property’s condition, included utilities, concessions, lease length, bedroom count, or whether the displayed market level is currently attainable.","ACS renter income, gross rent, burden, and vacancy measures are multi-year survey estimates for a ZCTA, so they should not be treated as current unit-level facts or delivery-ZIP counts.","A substantial seasonal-vacancy component prevents the total vacancy rate from serving as proof of immediately rentable supply, bargaining conditions, or availability for any particular household.","Redfin resale figures are direct ZIP for-sale observations, but they do not establish rental transaction terms, operating costs, financing outcomes, or the economics of an individual home."],"qa":[{"a":"They measure different universes. Zillow ZORI is a typical observed asking-rent index across rental types. ACS median gross rent summarizes occupied renter homes in a five-year survey and includes selected utilities. HUD Fair Market Rent or Small Area Fair Market Rent is an administrative bedroom-specific standard, not an asking-rent observation.","q":"Why do Zillow, ACS, and HUD show different rent figures?"},{"a":"No. The studio through four-bedroom figures are modelled ZIP estimates. They scale the ZIP-wide Zillow asking-rent index by the local HUD bedroom ladder, which supplies a structured relative pattern by bedroom count. A reader should confirm actual unit listings and lease terms before treating any modelled figure as a comparable rent.","q":"Are the bedroom rent figures direct market measurements?"},{"a":"The history shows positive same-month growth over one-year, three-year, and five-year horizons, but the recent pace is below the longer five-year rate. Complete observation coverage strengthens the record, while documented monthly variability and a prior drawdown mean a single current index point should not be read as a stable or predictive endpoint.","q":"What does the rent history say about confidence in the current index?"},{"a":"It should be used only as a cross-source screen created by dividing annualized ZIP Zillow ZORI by Redfin’s median sold price. It can highlight the relationship between two broad indicators, but it does not include property expenses, financing, vacancies, repairs, taxes, transaction costs, or the terms of any individual rental or sale.","q":"How should the Redfin screening ratio be used?"}],"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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