ZIP 37075 is both Zillow’s ZIP market identifier and a Census ZCTA match used here. A ZCTA is a statistical area and is not identical to a USPS delivery ZIP. In June 2026, the ZIP’s Zillow Observed Rent Index (ZORI) was $1,676, a typical observed asking-rent index blended across rental types. The index is a market-level asking-rent signal rather than a lease quote, a transaction price, or a measured price for a specified bedroom count. It summarizes observed asking rents in Zillow’s index methodology, so it cannot by itself describe included charges, contract terms, or the condition of one home. That boundary matters when a ZIP-wide result is compared with a particular listing or household.
Direct Zillow ZIP ZORI history frames that reading rather than projects it. Exact same-month annualized ZORI change was 1.6% over one year, 1.0% over three years, and 4.0% over five years through the stated endpoint. The latest direction therefore confirms a positive longer path, yet it breaks from the markedly faster five-year pace while improving on the middle-period rate. Annualized monthly-return variability was 2.6% and maximum drawdown was -2.1%; with 100% coverage, the supplied history has no reported coverage gap. Transparent national discovery ranks among history-eligible ZIPs were 923 for stability, 1,828 for momentum, and 1,520 for balance, where lower ranks are higher. The ranks are transparent sorting tools rather than outcomes. These are backward-looking measurements, not forecasts or investment recommendations; complete coverage supports continuity, but the observed variability and drawdown limit the confidence warranted by a single current-rent snapshot.
The near alignment of two rent figures should not erase their different universes. The matched Census ZCTA’s ACS 2024 five-year survey puts median gross rent at $1,656 with a $85 margin of error; it covers occupied renter homes and includes selected utilities. The ZORI sits $20, or 1.2%, above that survey median, an arithmetic comparison rather than evidence that either series measures the same homes or terms. The published margin gives a visible measure of survey uncertainty, not an adjustment to ZORI. Separately, the FY2026 local HUD FMR/SAFMR two-bedroom standard is $1,890, placing the ZIP asking-rent index 11.3% below it. HUD’s standard is administrative and bedroom-specific, not asking rent, so it serves a different purpose from both ZORI and ACS gross rent.
The supplied bedroom figures are modelled estimates, never measured bedroom rents. They scale the ZIP ZORI with the local HUD ladder: $1,463 for a studio, $1,525 for one bedroom, $1,676 for two bedrooms, $2,146 for three bedrooms, and $2,616 for four bedrooms. This construction preserves the supplied HUD relative bedroom steps around one ZIP-wide index and anchors the two-bedroom model to that index. It does not establish the asking rent of any studio, apartment, house, condition level, or lease configuration. Nor can the model identify a listing’s utility treatment, recurring charges, or other terms. Listing-level bedroom definition and pricing can differ from this modelled ladder.
Income and burden results create a second, separate lens. Multiplying the current monthly index through an annual 30% screen yields $67,040 of required gross income; this is arithmetic, not advice and not an applicant qualification rule. The ZCTA median household income is $101,850, but that all-household survey measure cannot identify the income of a renter or the terms of an individual lease. In the ACS burden tabulation, 3,221 of 7,479 renter households, or 43.1%, reported spending at least 30% of income on gross rent. It describes surveyed occupied renter households, with survey uncertainty, and cannot prove that a particular unit is affordable or burdensome.
Housing counts show a predominantly owner-occupied base without demonstrating property availability. The ZCTA has 29,730 housing units, including 23,776 single-family units and 2,560 large multifamily units. Of all units, 28,265 are occupied and 1,465 vacant, a 4.9% overall vacancy rate. Of the vacant stock, 338 units are classified as vacant for rent; that classification does not reveal asking price, physical condition, timing, concessions, or whether a specific unit can be leased. Renter households make up 26.5% of occupied homes. The occupancy split also cannot show why homes are vacant or whether the classified rental units are comparable to the index. Thus, vacancy and tenure statistics describe aggregate stock, not an observation about vacancy or affordability at any particular property.
For wider context only, Hendersonville city-context rent is $1,678, Sumner County county-context rent is $1,669, and Nashville-Davidson--Murfreesboro--Franklin, TN metro-context rent is $1,810. The ZIP index is therefore close to the city and county context but lower than the metro context; none of these wider geographies replaces the ZIP measure, the matched ZCTA survey, or a property record. The numbers set a bounded comparison frame, not an explanation for differences. Concrete checks before using the report for one address are the advertised rent, bedroom count, included utilities, recurring fees, lease term, availability date, exact address and ZIP/service-area treatment, and the condition stated in the listing. Which listing-specific terms could make a current unit materially different from this ZIP-level indicator?
","findings":[{"body":"At $1,676 in June 2026, the ZIP’s ZORI increased 1.6% over one year. That is positive and above the three-year annualized rate, but far below the five-year rate. Complete history coverage improves continuity, while observed monthly variability and drawdown mean the current index should be interpreted as a current market measurement rather than a durable future level.","title":"Positive history, slower long-run pace"},{"body":"ZORI records a blended asking-rent index. ACS measures median gross rent in occupied renter homes and includes selected utilities; its ZCTA geography is statistical rather than USPS delivery geography. HUD’s local ladder is a bedroom-specific administrative standard. The small numerical distance between some figures does not make them interchangeable, especially when interpreting a specific lease, household, or unit.","title":"Three data products, three scopes"},{"body":"Bedroom values in the report are generated by scaling ZIP-wide ZORI with the local HUD ladder. They are modelled estimates, not measured studio-through-four-bedroom asking rents. The required-income figure simply divides annualized index rent by a 30% screen. It is useful as consistent arithmetic, but it neither tests an applicant nor determines the affordability of a given household.","title":"Bedroom ladder and income screen are constructed tools"},{"body":"The ZCTA’s renter share, burden tabulation, and vacancy classifications describe aggregates. A meaningful share of surveyed renter households reported gross-rent burden, while some vacant units were classified for rent; neither observation identifies an available unit or establishes that its rent fits a particular household. Wider city, county, and metro values remain context, not substitutes for ZIP or property-level evidence.","title":"Aggregate stock does not identify a listing"}],"risks":["The Zillow series is a blended typical asking-rent index, so a property may have a different advertised rent, bedroom treatment, lease term, utility arrangement, condition, or availability.","ACS results are a five-year survey for a matched statistical ZCTA, carry published margins of error, describe occupied renter homes, and are not a current USPS delivery-ZIP lease sample.","HUD FMR/SAFMR values are administrative bedroom standards. Scaling the ZIP index by that ladder produces useful modelled comparisons, but cannot measure current rents for a bedroom class or a particular property.","Vacancy classifications and rent-burden tabulations are aggregates, not evidence that a particular unit is vacant, available, affordable, unaffordable, or comparable to the ZIP-level index at the report date."],"qa":[{"a":"The June 2026 ZORI is Zillow’s typical observed asking-rent index at the ZIP-market level, blended across rental types. It is not a signed lease price, a transaction amount, or a separately measured one- or two-bedroom rent. Its appropriate interpretation is a current broad asking-rent signal for the identified ZIP, subject to listing-specific terms.","q":"What does the current ZORI figure represent?"},{"a":"The figures answer different questions. ZORI tracks a ZIP-level blended asking-rent index; ACS summarizes occupied renter homes’ gross rent, including selected utilities; HUD supplies an administrative bedroom-specific standard. The ZCTA is statistical and not identical to USPS ZIP geography. Consequently, close dollar values are not evidence of a common sample, contract, or price.","q":"Why can Zillow, ACS, and HUD rent figures differ?"},{"a":"Each studio-through-four-bedroom figure is created by applying the supplied local HUD bedroom ladder to the ZIP ZORI. It is therefore a modelled estimate that communicates the ladder’s relative size steps. It is not a measured rent observation for a bedroom class, property type, building, or current available unit. The index itself remains ZIP-wide.","q":"How are the bedroom estimates constructed?"},{"a":"Burden identifies surveyed renter households reporting gross-rent costs at or above the stated share of income, while vacancy classifies aggregate housing units. Neither field reports an applicant’s income, a unit’s actual asking price, or a unit’s lease status. For a specific address, the listing’s rent, bedroom designation, utilities, fees, term, availability, and stated condition remain separate facts to check.","q":"What do the burden and vacancy figures establish?"}],"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 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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":"2016-05-01","rent":1103.196546},{"period":"2016-06-01","rent":1104.436172},{"period":"2016-07-01","rent":1105.429671},{"period":"2016-08-01","rent":1104.309694},{"period":"2016-09-01","rent":1092.667232},{"period":"2016-10-01","rent":1107.11667},{"period":"2016-11-01","rent":1102.230493},{"period":"2016-12-01","rent":1124.260891},{"period":"2017-01-01","rent":1119.789101},{"period":"2017-02-01","rent":1120.014965},{"period":"2017-03-01","rent":1120.556774},{"period":"2017-04-01","rent":1125.967597},{"period":"2017-05-01","rent":1145.102558},{"period":"2017-06-01","rent":1148.2186},{"period":"2017-07-01","rent":1152.288267},{"period":"2017-08-01","rent":1156.473319},{"period":"2017-09-01","rent":1171.463232},{"period":"2017-10-01","rent":1177.520939},{"period":"2017-11-01","rent":1178.486133},{"period":"2017-12-01","rent":1171.853414},{"period":"2018-01-01","rent":1170.381859},{"period":"2018-02-01","rent":1180.870444},{"period":"2018-03-01","rent":1180.054959},{"period":"2018-04-01","rent":1184.287262},{"period":"2018-05-01","rent":1175.946746},{"period":"2018-06-01","rent":1188.685386},{"period":"2018-07-01","rent":1186.399514},{"period":"2018-08-01","rent":1189.355115},{"period":"2018-09-01","rent":1187.680668},{"period":"2018-10-01","rent":1195.540482},{"period":"2018-11-01","rent":1211.052451},{"period":"2018-12-01","rent":1217.222769},{"period":"2019-01-01","rent":1217.283277},{"period":"2019-02-01","rent":1207.371801},{"period":"2019-03-01","rent":1214.143704},{"period":"2019-04-01","rent":1216.802382},{"period":"2019-05-01","rent":1222.583515},{"period":"2019-06-01","rent":1219.823355},{"period":"2019-07-01","rent":1228.499644},{"period":"2019-08-01","rent":1233.542893},{"period":"2019-09-01","rent":1239.558699},{"period":"2019-10-01","rent":1237.914792},{"period":"2019-11-01","rent":1236.793106},{"period":"2019-12-01","rent":1241.636861},{"period":"2020-01-01","rent":1253.988979},{"period":"2020-02-01","rent":1267.841504},{"period":"2020-03-01","rent":1256.293782},{"period":"2020-04-01","rent":1244.442749},{"period":"2020-05-01","rent":1241.143464},{"period":"2020-06-01","rent":1240.584561},{"period":"2020-07-01","rent":1245.806381},{"period":"2020-08-01","rent":1241.186999},{"period":"2020-09-01","rent":1249.022867},{"period":"2020-10-01","rent":1253.657525},{"period":"2020-11-01","rent":1265.170821},{"period":"2020-12-01","rent":1283.95245},{"period":"2021-01-01","rent":1296.665076},{"period":"2021-02-01","rent":1313.648797},{"period":"2021-03-01","rent":1317.287221},{"period":"2021-04-01","rent":1336.901412},{"period":"2021-05-01","rent":1348.225364},{"period":"2021-06-01","rent":1374.6045},{"period":"2021-07-01","rent":1396.99133},{"period":"2021-08-01","rent":1443.993151},{"period":"2021-09-01","rent":1475.28532},{"period":"2021-10-01","rent":1510.460621},{"period":"2021-11-01","rent":1515.95122},{"period":"2021-12-01","rent":1525.447637},{"period":"2022-01-01","rent":1532.856287},{"period":"2022-02-01","rent":1541.509134},{"period":"2022-03-01","rent":1562.27408},{"period":"2022-04-01","rent":1578.800989},{"period":"2022-05-01","rent":1610.205334},{"period":"2022-06-01","rent":1625.626328},{"period":"2022-07-01","rent":1639.14607},{"period":"2022-08-01","rent":1628.868834},{"period":"2022-09-01","rent":1617.631366},{"period":"2022-10-01","rent":1606.524937},{"period":"2022-11-01","rent":1613.14285},{"period":"2022-12-01","rent":1618.716905},{"period":"2023-01-01","rent":1635.212418},{"period":"2023-02-01","rent":1641.311467},{"period":"2023-03-01","rent":1651.089945},{"period":"2023-04-01","rent":1641.654831},{"period":"2023-05-01","rent":1628.789969},{"period":"2023-06-01","rent":1624.4483},{"period":"2023-07-01","rent":1623.174572},{"period":"2023-08-01","rent":1627.248468},{"period":"2023-09-01","rent":1628.577834},{"period":"2023-10-01","rent":1634.542059},{"period":"2023-11-01","rent":1638.005174},{"period":"2023-12-01","rent":1642.878999},{"period":"2024-01-01","rent":1636.451025},{"period":"2024-02-01","rent":1644.083146},{"period":"2024-03-01","rent":1641.240606},{"period":"2024-04-01","rent":1653.667191},{"period":"2024-05-01","rent":1654.859843},{"period":"2024-06-01","rent":1656.306261},{"period":"2024-07-01","rent":1658.070845},{"period":"2024-08-01","rent":1662.209199},{"period":"2024-09-01","rent":1668.800487},{"period":"2024-10-01","rent":1664.367286},{"period":"2024-11-01","rent":1668.076524},{"period":"2024-12-01","rent":1650.070935},{"period":"2025-01-01","rent":1647.010716},{"period":"2025-02-01","rent":1635.886641},{"period":"2025-03-01","rent":1651.596879},{"period":"2025-04-01","rent":1660.390778},{"period":"2025-05-01","rent":1663.041114},{"period":"2025-06-01","rent":1650.13306},{"period":"2025-07-01","rent":1650.11093},{"period":"2025-08-01","rent":1649.257608},{"period":"2025-09-01","rent":1648.383199},{"period":"2025-10-01","rent":1653.279061},{"period":"2025-11-01"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