At the latest June 2026 endpoint, this ZIP’s Zillow Observed Rent Index (ZORI) is $1,119, a typical observed asking-rent index blended across rental types rather than a quoted rent for every home. Exact same-month change is 7.36% over one year, 7.62% annualized over three years, and 7.40% annualized over five years. Recent direction therefore confirms, rather than breaks from, the longer upward path. The 2.96% annualized variability of monthly returns and a -1.92% maximum drawdown show that the index moved unevenly, even as the deepest covered decline was limited. Coverage is 100% for the stated historical series. Its transparent national discovery ranks among history-eligible ZIPs are 71 for momentum, 1,558 for stability, and 260 for balanced performance; lower rank is higher. These backward-looking measurements are neither forecasts nor investment recommendations. The variability and lower stability rank mean a reader should place bounded confidence in one current index snapshot, even though the complete series provides useful historical context.
The five-digit label 66044 is both the Zillow ZIP market identifier and the matched Census ZCTA label. A ZCTA is a statistical area and is not identical to a USPS delivery ZIP. The matched Census ZCTA reports a $1,038 median gross rent in the ACS 2024 five-year survey, with a reported $69 margin of error. ACS describes occupied renter homes, and its gross-rent measure includes selected utilities; it is neither current asking rent nor a lease quote. Relative to that separate survey universe, the current asking-rent index is 7.8% higher. The contrast can reflect timing, scope, rental mix, and utility treatment, so it should not be read as a contradiction or as proof that any property is overpriced. ZORI addresses current advertised-rent conditions across rental types, while ACS describes reported household rent costs in a retrospective survey.
Bedroom figures are useful only as a scaling device. The modelled ZIP estimates are $852 for a studio, $951 for one bedroom, $1,119 for two bedrooms, $1,555 for three bedrooms, and $1,872 for four bedrooms. They are modelled estimates, never measured bedroom rents: the method scales ZIP ZORI using the local HUD ladder. The supplied FY2026 HUD FMR/SAFMR reference runs from $860 for a studio to $1,890 for four bedrooms and is an administrative, bedroom-specific standard, not asking rent. Its two-bedroom standard sits 1.0% above the ZIP ZORI, placing the index close to that HUD reference in this single comparison. Neither the modelled ladder nor HUD’s figures establish what a given property charges, includes, or will accept.
Annualizing the current ZORI through a 30% rent-to-income screen produces $44,760 in required annual household income. This is arithmetic, not advice or an applicant qualification rule. The ZCTA’s ACS all-household median income is $55,955, but a ZIP-wide median cannot establish an individual applicant’s resources or affordability. Within the ACS renter-household universe, 3,752 of 7,132 households, or 52.6%, are estimated to spend at least the burden threshold on gross rent. That burden measure includes utilities selected by ACS and is survey-based; it cannot prove burden for a particular unit, tenancy, or household. The income screen and burden statistic are complementary lenses rather than a pass-fail conclusion.
Housing figures point to a renter-led occupancy base without revealing availability at a particular building. The matched ZCTA has 12,696 housing units, including 1,078 vacant units, for an 8.5% vacancy rate; vacancy is a stock measure, not a count of suitable or currently offered rentals. Renters account for 61.4% of occupied homes. The structure inventory includes 7,509 single-family units alongside large multifamily structures, showing that both structure groups are present but not their condition, lease terms, or price. Of all vacant stock, 554 units are classified vacant for rent, a category that may include homes unlike a reader’s needed size, timing, price, or eligibility. No vacancy figure establishes concessions, landlord flexibility, or availability for a specific applicant.
Across wider geographies, the ZIP index is below the Lawrence city-context rent of $1,288.42, while Douglas County context and Lawrence, KS metro context each report $1,294; these named city, county, and metro values are wider-context comparisons, not replacements for ZIP-level evidence. The ZIP’s 8.5% vacancy rate exceeds the Lawrence city-context rate of 6.7%, but that contrast does not identify the vacancies’ location, type, readiness, or rent level. City, county, and metro figures can frame scale, yet their household mix, stock composition, and collection universes may differ from this ZIP. The metro context’s job change and months of supply are likewise broad-area indicators, so they cannot explain the ZIP rent path or predict its next move. Keep the comparison directional: a lower current index level here coexists with recent rent growth without establishing why.
Important limits remain. ZORI’s all-type asking-rent index is not a bedroom-specific transaction database; ACS is a retrospective ZCTA survey; and HUD is a program standard. Historical ranks and scores are discovery tools, not endorsements. Before relying on the current snapshot, verify the property’s advertised rent, bedroom count, lease length, move-in date, utility responsibility, fees, concessions, occupancy status, and whether the quote is still available. Compare those terms against both the all-type index and the clearly labelled modelled bedroom estimate rather than treating either as a promise. What do the property’s current written terms show after utilities and mandatory charges are separated from base rent?
","findings":[{"body":"The latest asking-rent reading arrives after a historically persistent upward path, with recent growth broadly matching the longer windows. However, the national discovery results show a much stronger momentum placement than stability placement. That combination warrants a measured reading: the history supports a rising past trend, while monthly movement still limits how much certainty should be attached to any single current index observation.","title":"Past momentum is clearer than stability"},{"body":"ZORI, ACS, and HUD should not be merged into a single rent estimate. The Zillow measure is a current all-type asking-rent index, the Census measure summarizes occupied renter homes and selected utilities, and the HUD standard is administrative and bedroom-specific. The modelled bedroom outputs inherit those distinctions. A comparison is informative only when its source universe, time frame, and intended use remain visible.","title":"Do not merge the rent universes"},{"body":"The income screen is a transparent conversion of the ZIP index, while the burden statistic is a survey estimate describing renter households. The gap between a ZIP-wide median income and a household-level application is consequential: neither metric reveals savings, other obligations, household size, or lease terms. The burden result signals gross-rent pressure in the survey universe, but it cannot determine affordability for an individual renter or unit.","title":"The income screen and burden measure answer different questions"},{"body":"Vacancy and structure counts describe the ZCTA’s housing stock, not a live inventory feed. A unit recorded as vacant for rent may differ materially in size, readiness, cost, lease timing, or eligibility. The ZIP’s renter-heavy occupancy and higher city-context vacancy can frame questions for a search, but neither finding establishes concessions, landlord behavior, quality, or availability at a specific property.","title":"Vacancy requires property-level follow-through"}],"risks":["The current ZORI blends rental types and is not a property quote. Using it as a precise target for a particular bedroom count, building, or lease term could misstate comparability.","The ACS ZCTA is a survey geography and differs from USPS delivery ZIP boundaries. Its retrospective occupied-household and utility-inclusive design may not match current advertised housing.","HUD standards and the derived bedroom ladder are administrative and modelled tools, respectively. Neither confirms base rent, utilities, fees, concessions, income criteria, or property availability.","Vacancy and burden statistics are aggregate estimates. They cannot establish whether a specific unit is open, affordable after charges, suitable, or available to a particular applicant."],"qa":[{"a":"It is the latest ZIP-level Zillow Observed Rent Index, described as a typical observed asking-rent index blended across rental types. It summarizes an index universe rather than a transaction database, an exact asking price for every listing, or a promise of what any landlord will quote. Property terms can depart materially from the index.","q":"What is the asking-rent figure actually measuring?"},{"a":"The Census value comes from the matched ZCTA five-year survey of occupied renter homes and uses median gross rent, including selected utilities. The ZCTA is statistical geography rather than USPS delivery geography. Different collection period, household occupancy status, utility treatment, and rental mix make divergence from Zillow’s current asking-rent index expected rather than inherently inconsistent.","q":"Why does the Census rent measure not match the Zillow asking-rent index?"},{"a":"No. The studio through four-bedroom figures are modelled estimates created by scaling the ZIP ZORI with the supplied local HUD ladder. HUD FMR/SAFMR figures are administrative standards rather than asking rent. Therefore, neither series measures advertised rents for a particular bedroom count, building type, lease period, or utility package.","q":"Are the bedroom figures observed rents for available units?"},{"a":"The burden share describes surveyed renter households whose gross rent consumes at least the stated share of income, while vacancy describes housing-stock status. Together they provide aggregate context only. They do not show whether a particular home is available, what mandatory charges apply, whether concessions exist, or whether a prospective renter meets property criteria.","q":"How should vacancy and rent-burden figures be interpreted?"}],"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":"2021-01-01","rent":743.804612},{"period":"2021-02-01","rent":749.254351},{"period":"2021-03-01","rent":760.731724},{"period":"2021-04-01","rent":766.298139},{"period":"2021-05-01","rent":771.474478},{"period":"2021-06-01","rent":783.150231},{"period":"2021-07-01","rent":798.979586},{"period":"2021-08-01","rent":799.150267},{"period":"2021-09-01","rent":795.607938},{"period":"2021-10-01","rent":799.511522},{"period":"2021-11-01","rent":803.92329},{"period":"2021-12-01","rent":814.236778},{"period":"2022-01-01","rent":819.040213},{"period":"2022-02-01","rent":826.155329},{"period":"2022-03-01","rent":822.847451},{"period":"2022-04-01","rent":823.321525},{"period":"2022-05-01","rent":838.438018},{"period":"2022-06-01","rent":846.436085},{"period":"2022-07-01","rent":838.764074},{"period":"2022-08-01","rent":834.401727},{"period":"2022-09-01","rent":844.000928},{"period":"2022-10-01","rent":854.572209},{"period":"2022-11-01","rent":861.594821},{"period":"2022-12-01","rent":865.133698},{"period":"2023-01-01","rent":874.581515},{"period":"2023-02-01","rent":878.388191},{"period":"2023-03-01","rent":886.480651},{"period":"2023-04-01","rent":894.139044},{"period":"2023-05-01","rent":898.024877},{"period":"2023-06-01","rent":897.842299},{"period":"2023-07-01","rent":908.205161},{"period":"2023-08-01","rent":926.690907},{"period":"2023-09-01","rent":933.729292},{"period":"2023-10-01","rent":926.5474},{"period":"2023-11-01","rent":920.402675},{"period":"2023-12-01","rent":919.548281},{"period":"2024-01-01","rent":929.591985},{"period":"2024-02-01","rent":937.074835},{"period":"2024-03-01","rent":953.316288},{"period":"2024-04-01","rent":961.585833},{"period":"2024-05-01","rent":966.319706},{"period":"2024-06-01","rent":974.460947},{"period":"2024-07-01","rent":990.99236},{"period":"2024-08-01","rent":983.903167},{"period":"2024-09-01","rent":972.104105},{"period":"2024-10-01","rent":971.970838},{"period":"2024-11-01","rent":997.268752},{"period":"2024-12-01","rent":1021.799333},{"period":"2025-01-01","rent":1025.830934},{"period":"2025-02-01","rent":1027.554224},{"period":"2025-03-01","rent":1018.4215},{"period":"2025-04-01","rent":1034.86002},{"period":"2025-05-01","rent":1034.972036},{"period":"2025-06-01","rent":1042.529696},{"period":"2025-07-01","rent":1040.95775},{"period":"2025-08-01","rent":1053.610277},{"period":"2025-09-01","rent":1073.095882},{"period":"2025-10-01","rent":1090.199954},{"period":"2025-11-01","rent":1086.21792},{"period":"2025-12-01","rent":1080.91205},{"period":"2026-01-01","rent":1085.139774},{"period":"2026-02-01","rent":1093.99632},{"period":"2026-03-01","rent":1106.277065},{"period":"2026-04-01","rent":1102.40709},{"period":"2026-05-01","rent":1114.098356},{"period":"2026-06-01","rent":1119.212238}],"historySummary":{"pointCount":66,"firstPeriod":"2021-01-01","latestPeriod":"2026-06-01","coverageMonths":66,"coverageRatio":1,"changes":{"1":{"years":1,"startPeriod":"2025-06-01","endPeriod":"2026-06-01","startRent":1042.529696,"endRent":1119.212238,"change":0.0735542999822616,"cagr":0.0735542999822616},"3":{"years":3,"startPeriod":"2023-06-01","endPeriod":"2026-06-01","startRent":897.842299,"endRent":1119.212238,"change":0.24655770756908835,"cagr":0.07622761004041712},"5":{"years":5,"startPeriod":"2021-06-01","endPeriod":"2026-06-01","startRent":783.150231,"endRent":1119.212238,"change":0.42911563285997434,"cagr":0.07402273337670406}},"maxDrawdown":-0.01919441841105618,"annualizedVolatility":0.029627764645815433,"consecutiveReturnCount":65}}