At June 2026, 53211’s Zillow ZORI was $1,429, a ZIP-level benchmark rather than a unit quote. Direct Zillow ZORI history registered a 4.00% same-month change over one year, versus annualized same-month changes of 4.63% over three years and 5.15% over five years. The series supplied 100% coverage of intended history. Annualized monthly-return variability was 2.37%, while the largest drawdown loss was 1.59%. Among history-eligible ZIPs nationally, transparent discovery ranks were 516 for momentum, 491 for stability, and 133 for the balanced measure; lower rank is higher. The latest positive movement confirms the longer upward path in level but breaks from it in pace, because it is slower than both longer-horizon rates. These backward-looking measurements are not forecasts. The observed variability and drawdown mean a reader should put more confidence in the broad historical path than in an exact current-rent snapshot.
The Zillow result cannot be equated with the matched Census measure. Zillow ZORI is a typical observed asking-rent index blended across rental types, while the ACS 2024 five-year survey places median gross rent at $1,287, or 11.0% below the asking-rent index. ACS describes occupied renter homes, and median gross rent includes selected utilities; it is neither a current listing sample nor an asking-rent series. The Census match is a ZCTA: a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. FY2026 HUD FMR/SAFMR is a separate administrative, bedroom-specific standard, not asking rent. Its local two-bedroom benchmark is $1,338, placing the ZIP asking-rent index 6.8% above it. Each comparison remains useful only within its stated source universe.
The bedroom view is deliberately mechanical rather than a set of observed rents. Scaling ZIP ZORI by each local HUD FMR/SAFMR rung relative to the two-bedroom standard produces modelled monthly estimates, in bedroom order from studio through four bedrooms, of $1,097, $1,195, $1,429, $1,760, and $1,905. The local HUD ladder supplies the relative bedroom proportions, while ZORI supplies the ZIP-wide level. These are modelled estimates, never measured bedroom rents. They do not establish that a listed apartment of any bedroom count is available at the corresponding amount, because the calculation is an index-based scaling exercise rather than a property inventory.
The required-income screen is arithmetic. Annualizing the current monthly index and dividing by a 30% rent share produces $57,160 in required annual income. Against the matched ZCTA median household income of $75,256, the annualized asking-rent index equals 22.8% of that area-level median. This is not advice and not an applicant qualification rule. ACS also reports 9,072 renter-occupied units, of which 4,292, or 47.3%, reported spending 30% or more of income on gross rent. That burden statistic describes surveyed occupied renter homes and includes its supplied survey uncertainty; it does not show whether any particular renter, applicant, or unit can meet a current asking rent.
The ACS housing-stock picture contains 16,195 units, with 1,049 vacant units for an overall vacancy rate of 6.5%. Renter-occupied homes account for 59.9% of occupied units, and 462 vacant units are classified as for rent. The stock includes 5,994 single-family units and 4,312 large-multifamily units, showing that both structure categories are present in the ZCTA inventory. These are aggregate stock and status counts, not evidence about the condition, price, active marketing status, or lease terms of a specific home. In particular, a vacancy measure cannot prove current availability for a particular unit.
Context comparisons move in different directions and do not substitute for a ZIP estimate. In the Shorewood city context, the $1,356 Zillow rent is below the ZIP index while the city ACS median gross rent is above the matched ZCTA amount; these are city-scope context values only. In Milwaukee County context, the $1,520 Zillow rent is above the ZIP index while the county ACS median gross rent is lower; these are county-scope context values only. In the Milwaukee-Waukesha, WI metro context, the $1,552 Zillow rent is above the ZIP index, and its separately reported apartment-vacancy measure is not a ZIP all-housing vacancy estimate; these are metro-scope context values only. The ZIP renter share exceeds the city and county context shares, while its vacancy rate is above the city figure and below the county figure.
No supplied series measures a building-specific quoted rent, interior condition, concession, utility package, or current listing status. Concrete property-level checks are the advertised rent, bedroom count, which utilities are included, lease term, fees and deposits, availability date, active-listing status, and the advertised address’s ZIP assignment. Those facts also help prevent a ZCTA survey estimate, a ZIP asking-rent index, and a HUD standard from being treated as interchangeable. Vacancy and burden remain aggregate descriptive measures rather than proof about a particular unit. Does the active listing’s quoted rent and contract detail actually match the source universe being used for comparison?
","findings":[{"body":"Direct Zillow history shows a positive same-month result at the current endpoint, but its short-horizon rate is below both longer annualized rates. Complete intended coverage and limited historical drawdown make the pattern observable across the series, while documented monthly-return variability keeps a single index observation from functioning as a precise property quote.","title":"Growth remains positive, but the current pace is slower"},{"body":"ZORI, ACS median gross rent, and HUD FMR/SAFMR answer different questions. ZORI tracks typical observed asking rents across rental types, ACS summarizes surveyed occupied renter homes with selected utilities, and HUD provides an administrative bedroom standard. Their numerical differences do not by themselves establish that a particular listing is underpriced, overpriced, or affordable.","title":"The rent gap changes with the source universe"},{"body":"The studio-through-four-bedroom figures preserve HUD’s local relative ladder while anchoring the ZIP level to ZORI. They are modelled monthly estimates, not a survey or listing count of bedroom-specific rents. HUD standards are administrative benchmarks and should not be relabeled as observed asking rents.","title":"Bedroom amounts are scaled estimates"},{"body":"Renter share, vacancy, and burden describe different aggregates. Stock figures describe occupied-unit composition, vacancy describes unused units, and burden describes surveyed renters’ gross-rent share of income. Neither an aggregate vacancy category nor a burden percentage establishes availability, rent, utility treatment, or payment circumstances for a particular listing.","title":"Vacancy and burden describe separate aggregate conditions"}],"risks":["The ZORI value is a ZIP-level typical observed asking-rent index blended across rental types, so it does not identify a property’s current quote, included utilities, concessions, fees, or lease terms.","The ACS five-year survey describes occupied renter homes, and its ZCTA geography is statistical rather than USPS delivery geography; survey sampling uncertainty and utility treatment limit direct equivalence to ZORI.","HUD FMR/SAFMR is an administrative bedroom-specific standard rather than asking rent. The modelled bedroom ladder inherits its local proportional structure and is not evidence of measured rents by bedroom.","Vacancy and rent-burden figures are aggregate descriptors. They cannot prove that a unit is actively marketed, available on a given date, affordable to an applicant, or occupied under any particular payment arrangement."],"qa":[{"a":"The current ZIP-wide benchmark is the June 2026 Zillow ZORI of $1,429. It represents a typical observed asking-rent index blended across rental types. It is not a quoted rent for a specified address, and it remains conceptually separate from the ACS occupied-home survey measure and HUD administrative bedroom standards.","q":"Which figure is the current ZIP asking-rent benchmark?"},{"a":"The figures differ because their universes and construction differ. Zillow ZORI summarizes observed asking rents, ACS median gross rent summarizes occupied renter homes and includes selected utilities, and HUD FMR/SAFMR is an administrative standard. A gap between them is a source-scope comparison, not proof about the appropriate rent for a specific unit.","q":"Why do Zillow, ACS, and HUD show different rent amounts?"},{"a":"No. The required-income figure is an arithmetic conversion of the ZIP asking-rent index using a 30% share of income. It is not lending, leasing, or applicant-screening guidance. The comparison with area median household income is also aggregate and cannot establish the income, expenses, or rent burden of an individual household.","q":"Does the required-income screen determine whether someone qualifies or can afford a unit?"},{"a":"No. Vacancy is a count of units in an aggregate status, while burden summarizes surveyed occupied renter homes. A property-level comparison requires the advertised rent, bedroom count, utility treatment, lease term, fees, deposit, availability date, listing status, and address information before it can be meaningfully compared with any ZIP-level, ZCTA, or HUD measure.","q":"Can vacancy and burden data confirm a specific apartment is available or affordable?"}],"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":"2020-12-01","rent":1090.749076},{"period":"2021-01-01","rent":1090.276556},{"period":"2021-02-01","rent":1074.961022},{"period":"2021-03-01","rent":1091.359012},{"period":"2021-04-01","rent":1101.34693},{"period":"2021-05-01","rent":1108.59103},{"period":"2021-06-01","rent":1112.049377},{"period":"2021-07-01","rent":1119.766478},{"period":"2021-08-01","rent":1116.320455},{"period":"2021-09-01","rent":1108.982857},{"period":"2021-10-01","rent":1108.35477},{"period":"2021-11-01","rent":1129.458492},{"period":"2021-12-01","rent":1142.794239},{"period":"2022-01-01","rent":1153.329716},{"period":"2022-02-01","rent":1157.422723},{"period":"2022-03-01","rent":1164.107362},{"period":"2022-04-01","rent":1170.221952},{"period":"2022-05-01","rent":1178.750226},{"period":"2022-06-01","rent":1184.534929},{"period":"2022-07-01","rent":1190.264285},{"period":"2022-08-01","rent":1198.105016},{"period":"2022-09-01","rent":1217.42313},{"period":"2022-10-01","rent":1227.226536},{"period":"2022-11-01","rent":1218.76963},{"period":"2022-12-01","rent":1214.410825},{"period":"2023-01-01","rent":1216.112006},{"period":"2023-02-01","rent":1229.859107},{"period":"2023-03-01","rent":1235.18679},{"period":"2023-04-01","rent":1241.857611},{"period":"2023-05-01","rent":1243.145864},{"period":"2023-06-01","rent":1248.067701},{"period":"2023-07-01","rent":1248.578913},{"period":"2023-08-01","rent":1261.766332},{"period":"2023-09-01","rent":1257.545407},{"period":"2023-10-01","rent":1256.36883},{"period":"2023-11-01","rent":1255.549584},{"period":"2023-12-01","rent":1266.738701},{"period":"2024-01-01","rent":1283.870448},{"period":"2024-02-01","rent":1284.485859},{"period":"2024-03-01","rent":1289.101128},{"period":"2024-04-01","rent":1292.806641},{"period":"2024-05-01","rent":1301.560657},{"period":"2024-06-01","rent":1314.192079},{"period":"2024-07-01","rent":1320.280352},{"period":"2024-08-01","rent":1324.687106},{"period":"2024-09-01","rent":1333.089921},{"period":"2024-10-01","rent":1363.822822},{"period":"2024-11-01","rent":1381.226561},{"period":"2024-12-01","rent":1389.798008},{"period":"2025-01-01","rent":1370.336033},{"period":"2025-02-01","rent":1375.895882},{"period":"2025-03-01","rent":1371.938253},{"period":"2025-04-01","rent":1367.657717},{"period":"2025-05-01","rent":1368.152536},{"period":"2025-06-01","rent":1374.458662},{"period":"2025-07-01","rent":1378.761808},{"period":"2025-08-01","rent":1378.300364},{"period":"2025-09-01","rent":1381.543933},{"period":"2025-10-01","rent":1368.131263},{"period":"2025-11-01","rent":1368.694101},{"period":"2025-12-01","rent":1369.429141},{"period":"2026-01-01","rent":1387.009881},{"period":"2026-02-01","rent":1392.234931},{"period":"2026-03-01","rent":1404.929275},{"period":"2026-04-01","rent":1418.450823},{"period":"2026-05-01","rent":1427.279481},{"period":"2026-06-01","rent":1429.453253}],"historySummary":{"pointCount":67,"firstPeriod":"2020-12-01","latestPeriod":"2026-06-01","coverageMonths":67,"coverageRatio":1,"changes":{"1":{"years":1,"startPeriod":"2025-06-01","endPeriod":"2026-06-01","startRent":1374.458662,"endRent":1429.453253,"change":0.04001181884944893,"cagr":0.04001181884944893},"3":{"years":3,"startPeriod":"2023-06-01","endPeriod":"2026-06-01","startRent":1248.067701,"endRent":1429.453253,"change":0.14533310320799653,"cagr":0.04627039721395909},"5":{"years":5,"startPeriod":"2021-06-01","endPeriod":"2026-06-01","startRent":1112.049377,"endRent":1429.453253,"change":0.2854224664522247,"cagr":0.05149975840296084}},"maxDrawdown":-0.01593058190654706,"annualizedVolatility":0.02368502945986585,"consecutiveReturnCount":66}}