At June 2026, the central tension in 68106 is a $1,819 Zillow asking-rent index against a $1,277 ACS median gross rent, while local median household income is $69,806 and the arithmetic income needed to keep that asking-rent figure at 30% is $72,760. Zillow’s ZIP-level ZORI is a typical observed asking-rent index blended across rental types, whereas the ACS figure describes occupied renter homes rather than current listings. The current asking-rent-to-income screen is 31.3%, so the index sits slightly above that mechanical benchmark. This is a comparison of area-level measures, not evidence that every available unit rents at the index or that each renter has the same income.
Backward-looking Zillow history shows stable growth that has slowed rather than reversed. The one-year exact same-month change was 2.64%, the three-year annualized change was 4.00%, and the five-year annualized change was 6.46%. Thus, the latest direction still confirms a positive longer path, but its pace is below both earlier annualized measures. Variability in monthly returns was 2.38%, supporting more confidence in the current snapshot than a highly erratic series would, although it does not eliminate listing-level dispersion. The maximum drawdown was only 1.08%, indicating a shallow observed setback. Coverage is 100% across 65 monthly observations. Transparent national discovery ranks among history-eligible ZIPs were 871 for momentum, 509 for stability, and 333 for the balanced measure; lower ranks are stronger. These are historical measurements, not forecasts or investment recommendations.
The local HUD ladder supplies a bedroom-sizing framework, but it does not measure bedroom-specific asking rents. Modelled ZIP estimates are $1,448 for a studio, $1,522 for one bedroom, $1,819 for two bedrooms, $2,413 for three bedrooms, and $2,722 for four bedrooms. They scale the ZIP ZORI by the local HUD ladder and should be read strictly as modelled estimates, not quoted or measured rents for particular unit types. The FY2026 HUD ladder runs from $1,170 for a studio to $2,200 for four bedrooms. HUD FMR or SAFMR is an administrative, bedroom-specific standard rather than asking rent, so agreement between the two-bedroom model and the ZIP index is a construction result, not validation from a two-bedroom leasing survey.
The matched Census ZCTA’s ACS 2024 five-year survey reports 11,085 housing units, including 6,921 single-family units and 2,075 units in large multifamily structures. Its overall vacancy rate was 4.4%, with 195 vacant units classified for rent; that describes the surveyed stock and does not establish availability, condition, or concession terms for a particular unit. Renter households numbered 5,181, or 48.9% of occupied homes. Of renter households with burden data, 46.8% paid 30% or more of income toward gross rent. ACS median gross rent includes selected utilities and reflects occupied renter homes over a five-year survey period, so it is not interchangeable with Zillow’s current asking-rent index. Neither the burden share nor the vacancy count proves affordability or vacancy at a specific address.
Wider geographies provide context only, not substitutes for ZIP evidence: Omaha city context had a $1,453 asking-rent index, Douglas County context had $1,448, and the Omaha-Council Bluffs, NE-IA metro context had $1,444. Each is below the ZIP’s current index, placing 68106 above these broader asking-rent benchmarks without identifying why. The metro context also reported median household income of $84,829, above the ZIP’s ACS income figure, which sharpens the distinction between a ZIP rent screen and metro-level household resources. City, county, and metro values remain wider-area context with different resident and housing compositions; they should not be treated as ZIP rental comparables or as evidence about a specific property.
Redfin’s direct rolling-three-month ZIP resale observation through June 30 describes for-sale activity, not rental transactions. Median sold price was $277,122, down 1.03% year over year, while 81 homes sold and median days on market were 14. Active listings totaled 121 and the reported inventory measure was 32, with 1.2 months of supply. Sale-to-list averaged 102.26%; 51.95% of sales closed above list, and 61.41% went off market within two weeks. Those resale signals point to brisk marketing and above-list outcomes despite the modest sold-price decline. That combination confirms active resale liquidity but challenges any simple inference that the rent history’s positive direction must coincide with rising resale prices. Redfin is direct ZIP resale evidence only and cannot serve as rental comparables or property-level operating economics.
Annualized ZIP ZORI divided by Redfin’s median sold price produces a 7.88% cross-source screening ratio. It is only a screening ratio: it is not a cap rate, net return, expected return, property yield, or measure of owner expenses. The ratio combines a blended asking-rent index with a rolling resale median, while the ACS burden and income figures describe survey respondents in occupied homes. Its main decision use is to frame the tension: current rent appears elevated versus the ACS gross-rent record and broader asking-rent context, yet resale prices softened slightly while sales conditions remained tight. No one source resolves that tension because each answers a different question and operates over a different population, time window, and transaction type.
The five-digit 68106 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, which is a material boundary limitation when applying survey data to a property. Before relying on the screens, check the subject address’s current asking terms, lease duration, utility responsibility, concessions, actual bedroom count, unit size, condition, and competing available listings. For a purchase-related review, separately verify recent sold records, list-price history, property taxes, insurance, association obligations, and any repairs that are not represented in area indices. The useful final question is not whether one benchmark is “right,” but whether the specific unit’s current terms remain consistent with the distinct rent, survey, HUD, and resale evidence.
","findings":[{"body":"The $1,819 ZIP Zillow asking-rent index is materially above the $1,277 ACS median gross rent. This gap is informative but not a contradiction: ZORI tracks current typical observed asking rents across rental types, while ACS reports occupied renter homes over a five-year survey period and includes selected utilities. The distinction matters when using either measure as a current leasing reference.","title":"Current asking rent exceeds the occupied-home survey benchmark"},{"body":"Exact same-month Zillow history rose 2.64% over one year, compared with annualized gains of 4.00% over three years and 6.46% over five years. The current direction therefore continues the longer positive path, but at a slower pace. Low monthly-return variability and a shallow maximum drawdown make the historical series comparatively stable, not predictive.","title":"Historical rent growth remains positive but has decelerated"},{"body":"ACS reports that 46.8% of renter households with burden data paid at least 30% of income toward gross rent. The current ZORI-based income screen also slightly exceeds the same threshold using ZIP median income. These are area-level arithmetic and survey results, not applicant qualification standards and not proof that any individual available unit is affordable or burdensome.","title":"Housing burden is widespread in the survey population"},{"body":"Redfin’s direct ZIP resale data show a small year-over-year decline in median sold price alongside short marketing time, low months of supply, above-list sales, and a substantial share going off market quickly. That for-sale evidence supports active resale conditions, but it is separate from rent behavior and cannot validate rental pricing, expenses, or property-level returns.","title":"Resale liquidity is firmer than the modest price decline suggests"}],"risks":["Zillow ZORI is a blended ZIP asking-rent index rather than a set of unit-specific leases, so bedroom mix, utilities, concessions, condition, and availability can produce materially different property-level outcomes.","ACS data apply to a matched ZCTA and summarize occupied renter homes over a five-year survey period; the statistical ZCTA boundary is not identical to a USPS delivery ZIP.","The bedroom figures are modelled by scaling ZIP ZORI with the local HUD ladder. They are not measured bedroom rents and should not replace current comparable listings or lease terms.","Redfin resale observations describe for-sale transactions over a rolling three-month period. Median sold price and sale-to-list signals do not establish rent, operating costs, tenant demand, or economics for a specific property."],"qa":[{"a":"The measures have different universes and timing. Zillow ZORI is a current ZIP-level typical observed asking-rent index blended across rental types. ACS median gross rent is a five-year survey measure for occupied renter homes and includes selected utilities. A difference between them does not indicate an error or establish the rent of any current listing.","q":"Why is the Zillow asking-rent index higher than ACS median gross rent?"},{"a":"The one-year, three-year, and five-year same-month measures are all positive, so the historical path has remained upward. However, the one-year rate is slower than the longer annualized rates. Monthly-return variability was relatively low and drawdown limited, which supports moderate confidence in the index’s continuity while still leaving unit-level pricing uncertain.","q":"What does the rent history say about the current snapshot?"},{"a":"No. The studio-through-four-bedroom values are modelled estimates created by scaling the ZIP Zillow rent index using the local HUD bedroom ladder. HUD FMR or SAFMR is an administrative standard, not asking-rent observation. These estimates can organize a screen, but current listings, utility terms, concessions, and unit characteristics require separate verification.","q":"Are the bedroom estimates actual market rents for each unit size?"},{"a":"It is annualized ZIP ZORI divided by Redfin’s median sold price, combining two separate datasets for a high-level cross-source screen. It is not a cap rate, property yield, net return, or expected return. It excludes taxes, insurance, repairs, vacancy experience, financing, expenses, and the particular property’s achievable rent.","q":"How should the Redfin rent-price screening ratio 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":"2021-02-01","rent":1313.777716},{"period":"2021-03-01","rent":1299.599405},{"period":"2021-04-01","rent":1299.811496},{"period":"2021-05-01","rent":1307.577725},{"period":"2021-06-01","rent":1330.238893},{"period":"2021-07-01","rent":1344.406781},{"period":"2021-08-01","rent":1372.860047},{"period":"2021-09-01","rent":1392.437923},{"period":"2021-10-01","rent":1405.765051},{"period":"2021-11-01","rent":1409.060685},{"period":"2021-12-01","rent":1400.428294},{"period":"2022-01-01","rent":1419.489967},{"period":"2022-02-01","rent":1441.004816},{"period":"2022-03-01","rent":1470.648575},{"period":"2022-04-01","rent":1483.106282},{"period":"2022-05-01","rent":1501.548471},{"period":"2022-06-01","rent":1514.693944},{"period":"2022-07-01","rent":1536.657401},{"period":"2022-08-01","rent":1521.496099},{"period":"2022-09-01","rent":1533.579762},{"period":"2022-10-01","rent":1521.094918},{"period":"2022-11-01","rent":1547.139332},{"period":"2022-12-01","rent":1568.466471},{"period":"2023-01-01","rent":1584.107181},{"period":"2023-02-01","rent":1581.202345},{"period":"2023-03-01","rent":1577.825381},{"period":"2023-04-01","rent":1594.394732},{"period":"2023-05-01","rent":1609.58543},{"period":"2023-06-01","rent":1617.113937},{"period":"2023-07-01","rent":1616.930898},{"period":"2023-08-01","rent":1638.439647},{"period":"2023-09-01","rent":1641.946763},{"period":"2023-10-01","rent":1658.190641},{"period":"2023-11-01","rent":1646.709372},{"period":"2023-12-01","rent":1647.888957},{"period":"2024-01-01","rent":1648.268879},{"period":"2024-02-01","rent":1660.665958},{"period":"2024-03-01","rent":1678.027251},{"period":"2024-04-01","rent":1683.065168},{"period":"2024-05-01","rent":1687.400332},{"period":"2024-06-01","rent":1694.447353},{"period":"2024-07-01","rent":1706.963903},{"period":"2024-08-01","rent":1715.767926},{"period":"2024-09-01","rent":1716.81617},{"period":"2024-10-01","rent":1724.960019},{"period":"2024-11-01","rent":1733.516335},{"period":"2024-12-01","rent":1739.141176},{"period":"2025-01-01","rent":1749.132634},{"period":"2025-02-01","rent":1749.376177},{"period":"2025-03-01","rent":1751.371923},{"period":"2025-04-01","rent":1762.102579},{"period":"2025-05-01","rent":1775.051035},{"period":"2025-06-01","rent":1772.401771},{"period":"2025-07-01","rent":1775.112369},{"period":"2025-08-01","rent":1776.851379},{"period":"2025-09-01","rent":1787.559585},{"period":"2025-10-01","rent":1791.426171},{"period":"2025-11-01","rent":1800.149451},{"period":"2025-12-01","rent":1805.628478},{"period":"2026-01-01","rent":1807.762013},{"period":"2026-02-01","rent":1814.640623},{"period":"2026-03-01","rent":1817.039201},{"period":"2026-04-01","rent":1814.767525},{"period":"2026-05-01","rent":1810.954042},{"period":"2026-06-01","rent":1819.234001}],"historySummary":{"pointCount":65,"firstPeriod":"2021-02-01","latestPeriod":"2026-06-01","coverageMonths":65,"coverageRatio":1,"changes":{"1":{"years":1,"startPeriod":"2025-06-01","endPeriod":"2026-06-01","startRent":1772.401771,"endRent":1819.234001,"change":0.026423032726703433,"cagr":0.026423032726703433},"3":{"years":3,"startPeriod":"2023-06-01","endPeriod":"2026-06-01","startRent":1617.113937,"endRent":1819.234001,"change":0.12498814052333529,"cagr":0.040038256890063906},"5":{"years":5,"startPeriod":"2021-06-01","endPeriod":"2026-06-01","startRent":1330.238893,"endRent":1819.234001,"change":0.3675994669628113,"cagr":0.06461304786850941}},"maxDrawdown":-0.010792016661059112,"annualizedVolatility":0.023826021242344418,"consecutiveReturnCount":64}}