ZIP 73112 is both a Zillow ZIP market identifier and a matched Census ZCTA; a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. Zillow’s current typical observed asking-rent index, blended across rental types, is $1,215, up 2.6% from the same month a year earlier. That asking-rent reading is 13.0% above the $1,075 ACS median gross rent, which is a five-year survey measure for occupied renter homes and includes selected utilities. For wider context, Oklahoma City city asking rent is $1,298, Oklahoma County county asking rent is $1,359, and the Oklahoma City, OK metro asking rent is $1,393; each is broader-geography context rather than ZIP evidence.
The longer Zillow history describes positive but slower recent rent movement, not a forecast. The exact same-month 1-year change was 2.6%, compared with 2.7% annualized across 3 years and 4.7% across 5 years. Thus, the recent direction still confirms the longer upward path, while its pace breaks from the stronger five-year growth rate. Monthly changes had 2.4% annualized variability, which supports more confidence in the current snapshot than a highly erratic series would, though it does not eliminate index or listing-level uncertainty. Separately, the largest historical pullback was 2.4%, limiting the observed downside episode. History coverage was 100%; among history-eligible ZIPs nationwide, the momentum, stability, and balanced discovery ranks were 1,180, 567, and 582, respectively, where lower ranks are stronger.
Bedroom figures are modelled ZIP estimates rather than measured bedroom rents. Scaling the ZIP asking-rent index by the local HUD ladder produces estimates of $914 for a studio, $989 for one bedroom, $1,215 for two bedrooms, $1,639 for three bedrooms, and $1,818 for four bedrooms. The underlying HUD bedroom-specific administrative standards are $970, $1,050, $1,290, $1,740, and $1,930 in the same order. HUD FMR or SAFMR standards are not asking rent, and the Zillow index is not a bedroom-by-bedroom survey; the ladder is useful for relative sizing only. A specific available unit can differ because the model does not observe its condition, utilities, lease terms, or other listing characteristics.
The income and burden data create a separate affordability screen from the asking-rent series. Median household income in the matched ZCTA was $58,419, while annual income arithmetic at a 30% rent share for the current asking-rent index equals $48,600. Annualized asking rent therefore represents 25.0% of that median income. This is an arithmetic comparison, not advice and not an applicant qualification rule. The ZCTA was 48.3% renter occupied, and 45.6% of surveyed renter households reported spending at least 30% of income on gross rent. That burden measure describes surveyed occupied renter households, not the likely burden of a particular future tenant or a particular advertised unit.
Housing supply measures reinforce why ZIP-wide averages need careful interpretation. The matched ZCTA contained 16,217 housing units, of which 14,734 were occupied and 1,483 were vacant, producing a 9.1% all-unit vacancy rate. Single-family units outnumbered large multifamily units in the stock, so the rental index blends an area with multiple housing forms rather than isolating one apartment segment. Vacancies include units in several statuses, including units offered for rent, sale, seasonal use, or other reasons. Consequently, the vacancy rate is a broad Census housing-stock measure, not proof that a specific rental is available, negotiable, or likely to remain vacant.
The direct ZIP resale record adds a notable counterweight to the rent history. In Redfin’s rolling three-month for-sale observation, median sold price was $214,951, down 1.9% year over year; 95 homes sold with a median 27 days on market. Inventory increased 34.1% from the prior year and months of supply stood at 4.3. Average sale-to-list was 97.1%, while 15.2% of sales closed above list price. These are resale-market liquidity and pricing signals, not rental transactions or rental comparables. They challenge a simple reading of stable rent gains as uniform housing-market strength. Annualized ZIP ZORI divided by median sold price equals a 6.8% cross-source screening ratio only; it is not a measure of property economics or return.
The principal limitation is that the sources answer different questions with different populations and timing. Zillow observes a typical asking-rent index, ACS surveys occupied renter households over five years, HUD publishes administrative bedroom standards, and Redfin records ZIP resale activity over a rolling three-month window. Before treating any ZIP statistic as unit-specific, verify the address falls within the relevant geography, the actual bedroom count and advertised rent, which utilities are included, lease duration, concessions, and whether the listing is active. For a resale comparison, confirm the property type, condition, sale date, list-price history, and whether selected closed sales are genuinely comparable rather than merely nearby.
Overall, the evidence shows a current asking-rent index that remains above the surveyed gross-rent benchmark and has continued rising, albeit at a slower rate than the longer historical record. The burden and vacancy measures temper any assumption that the index describes every renter’s position, while the resale data show softer sale pricing and a less aggressive sale-to-list pattern than a uniformly tight market would imply. These backward-looking datasets establish a useful ZIP-level screen, not a forecast, investment recommendation, or substitute for unit-level verification. The unresolved decision question is whether the specific unit’s rent, utility treatment, bedroom configuration, and condition align with the broad ZIP signals.
","findings":[{"body":"The Zillow asking-rent index increased 2.6% over the latest one-year period. That remains directionally consistent with the longer history, but it is slightly below the 2.7% three-year annualized pace and well below the 4.7% five-year pace. The evidence supports stable historical growth with moderation, not a projection of future rent changes.","title":"Asking-rent trend remains positive but has cooled"},{"body":"Current ZIP asking rent exceeds the ACS median gross-rent figure, but the comparison should not be read as two measurements of the same units. Zillow tracks typical observed asking rent across rental types, whereas ACS summarizes occupied renter homes in a multi-year survey and includes selected utilities. Differences can reflect timing, occupied versus advertised homes, and source design.","title":"Surveyed gross rent and current asking rent are different measures"},{"body":"Annualized ZIP asking rent falls below the arithmetic thirty-percent threshold based on ZCTA median household income, yet a substantial share of surveyed renter households reported gross-rent burdens at or above thirty percent of income. This pairing does not identify affordability for an applicant, but it does show that ZIP-level median-income arithmetic and renter-household burden can point to different conditions.","title":"Affordability screen is mixed rather than unit-specific"},{"body":"The ZIP’s resale median price declined while inventory expanded and average sales closed below list price. Those direct Redfin resale signals do not measure rental demand, but they are a meaningful counterpoint to the positive Zillow rent history. The annualized-rent-to-sale-price calculation is only a cross-source screen and cannot establish a property-level return or valuation conclusion.","title":"Resale signals complicate a simple rent-strength narrative"}],"risks":["Zillow’s index is a blended typical asking-rent measure, so it may not match the advertised rent of a particular apartment, house, lease term, bedroom count, utility package, or condition level.","ACS burden, income, occupancy, and vacancy statistics describe a matched ZCTA over a five-year survey period. They are not current leasing records and cannot establish the circumstances of a specific tenant or unit.","The HUD ladder supplies administrative bedroom-specific standards, not observed bedroom rents. Modelled bedroom estimates inherit both Zillow index limitations and the assumption that the local HUD relationship appropriately scales this ZIP.","Redfin resale figures cover for-sale transactions in a rolling three-month ZIP observation. Sale prices, supply, and sale-to-list outcomes should not be substituted for rental comparables, lease economics, or a unit-level market assessment."],"qa":[{"a":"The two figures are drawn from different evidence universes. Zillow is a current typical observed asking-rent index across rental types, while ACS is a five-year survey estimate for occupied renter homes and includes selected utilities. Occupied leases can reflect earlier pricing, and the measures need not describe the same unit mix, timing, or lease terms.","q":"Why is the ACS gross-rent figure lower than the Zillow asking-rent index?"},{"a":"No. They are modelled ZIP estimates created by scaling the overall Zillow asking-rent index using the local HUD bedroom ladder. HUD standards are administrative benchmarks rather than asking-rent observations, so the estimates should be used for relative bedroom sizing and not as measured rents for available units.","q":"Are the bedroom rent figures observed rents for studios through four-bedroom homes?"},{"a":"The history shows positive same-month changes across the measured horizons, but the latest annual pace is slower than the longer annualized path. Limited monthly variability and a relatively contained observed drawdown make the index less fragile than a highly volatile series, while still leaving meaningful uncertainty about any specific listing or lease.","q":"What does the historical rent record say about confidence in the current asking-rent snapshot?"},{"a":"No. It combines Zillow’s ZIP asking-rent index with Redfin’s ZIP median sold price, which are separate sources with different underlying observations. The calculation is only a cross-source screening ratio. It excludes property-specific costs, financing, operating expenses, taxes, condition, vacancy experience, and actual achieved rent.","q":"Does the annualized rent divided by median sold price show an investment return?"}],"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 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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":"2016-05-01","rent":779.004638},{"period":"2016-06-01","rent":783.580541},{"period":"2016-07-01","rent":782.205731},{"period":"2016-08-01","rent":776.470345},{"period":"2016-09-01","rent":783.043206},{"period":"2016-10-01","rent":786.228826},{"period":"2016-11-01","rent":778.297329},{"period":"2016-12-01","rent":775.054983},{"period":"2017-01-01","rent":777.08626},{"period":"2017-02-01","rent":785.650171},{"period":"2017-03-01","rent":791.786939},{"period":"2017-04-01","rent":793.140468},{"period":"2017-05-01","rent":801.043311},{"period":"2017-06-01","rent":796.793305},{"period":"2017-07-01","rent":797.813446},{"period":"2017-08-01","rent":796.87265},{"period":"2017-09-01","rent":796.227019},{"period":"2017-10-01","rent":795.388469},{"period":"2017-11-01","rent":803.819753},{"period":"2017-12-01","rent":813.085528},{"period":"2018-01-01","rent":810.415325},{"period":"2018-02-01","rent":802.159648},{"period":"2018-03-01","rent":802.626489},{"period":"2018-04-01","rent":813.865125},{"period":"2018-05-01","rent":815.311018},{"period":"2018-06-01","rent":825.129419},{"period":"2018-07-01","rent":824.91002},{"period":"2018-08-01","rent":834.409073},{"period":"2018-09-01","rent":835.138681},{"period":"2018-10-01","rent":837.432358},{"period":"2018-11-01","rent":838.257051},{"period":"2018-12-01","rent":846.031652},{"period":"2019-01-01","rent":849.277564},{"period":"2019-02-01","rent":858.581278},{"period":"2019-03-01","rent":862.867732},{"period":"2019-04-01","rent":859.909888},{"period":"2019-05-01","rent":859.405953},{"period":"2019-06-01","rent":859.555119},{"period":"2019-07-01","rent":865.857963},{"period":"2019-08-01","rent":866.988204},{"period":"2019-09-01","rent":871.270948},{"period":"2019-10-01","rent":875.514606},{"period":"2019-11-01","rent":877.941823},{"period":"2019-12-01","rent":873.783832},{"period":"2020-01-01","rent":877.494332},{"period":"2020-02-01","rent":877.735657},{"period":"2020-03-01","rent":903.890623},{"period":"2020-04-01","rent":897.350821},{"period":"2020-05-01","rent":903.416486},{"period":"2020-06-01","rent":899.991118},{"period":"2020-07-01","rent":903.226581},{"period":"2020-08-01","rent":904.608133},{"period":"2020-09-01","rent":912.979142},{"period":"2020-10-01","rent":911.431827},{"period":"2020-11-01","rent":912.96761},{"period":"2020-12-01","rent":917.067613},{"period":"2021-01-01","rent":921.607359},{"period":"2021-02-01","rent":924.917786},{"period":"2021-03-01","rent":926.34244},{"period":"2021-04-01","rent":944.977712},{"period":"2021-05-01","rent":955.53438},{"period":"2021-06-01","rent":965.833766},{"period":"2021-07-01","rent":976.314283},{"period":"2021-08-01","rent":989.094134},{"period":"2021-09-01","rent":997.289178},{"period":"2021-10-01","rent":1003.647922},{"period":"2021-11-01","rent":1011.894635},{"period":"2021-12-01","rent":1018.854706},{"period":"2022-01-01","rent":1027.128717},{"period":"2022-02-01","rent":1032.850737},{"period":"2022-03-01","rent":1030.709771},{"period":"2022-04-01","rent":1030.22812},{"period":"2022-05-01","rent":1038.551018},{"period":"2022-06-01","rent":1061.267737},{"period":"2022-07-01","rent":1073.842241},{"period":"2022-08-01","rent":1075.056562},{"period":"2022-09-01","rent":1074.494851},{"period":"2022-10-01","rent":1084.591399},{"period":"2022-11-01","rent":1095.932108},{"period":"2022-12-01","rent":1107.746231},{"period":"2023-01-01","rent":1105.259529},{"period":"2023-02-01","rent":1111.705355},{"period":"2023-03-01","rent":1122.193034},{"period":"2023-04-01","rent":1128.058435},{"period":"2023-05-01","rent":1130.293411},{"period":"2023-06-01","rent":1121.255559},{"period":"2023-07-01","rent":1121.095496},{"period":"2023-08-01","rent":1117.334191},{"period":"2023-09-01","rent":1127.625894},{"period":"2023-10-01","rent":1137.206793},{"period":"2023-11-01","rent":1143.433051},{"period":"2023-12-01","rent":1133.298018},{"period":"2024-01-01","rent":1131.863597},{"period":"2024-02-01","rent":1136.615379},{"period":"2024-03-01","rent":1149.537548},{"period":"2024-04-01","rent":1153.860472},{"period":"2024-05-01","rent":1156.250694},{"period":"2024-06-01","rent":1157.988803},{"period":"2024-07-01","rent":1160.207293},{"period":"2024-08-01","rent":1158.580382},{"period":"2024-09-01","rent":1151.98622},{"period":"2024-10-01","rent":1148.128279},{"period":"2024-11-01","rent":1155.256342},{"period":"2024-12-01","rent":1178.67255},{"period":"2025-01-01","rent":1193.458985},{"period":"2025-02-01","rent":1187.081954},{"period":"2025-03-01","rent":1165.241328},{"period":"2025-04-01","rent":1167.905576},{"period":"2025-05-01","rent":1180.763301},{"period":"2025-06-01","rent":1184.911297},{"period":"2025-07-01","rent":1188.421138},{"period":"2025-08-01","rent":1198.719333},{"period":"2025-09-01","rent":1206.314387},{"period":"2025-10-01","rent":1209.742527},{"period":"2025-11-01","rent":1205.693688},{"period":"2025-12-01","rent":1196.74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