The five-digit label 75024 is both Zillow’s ZIP market identifier and the matched Census ZCTA. A ZCTA is a statistical area used for Census tabulation; it is not identical to a USPS delivery ZIP. Zillow’s June 2026 ZIP ZORI, a typical observed asking-rent index blended across rental types, was $1,792 per month, down 0.7% year over year. That ZIP asking-rent index sat above the $1,713 Plano city-context rent, the $1,736 Collin County-context rent, and the $1,673 Dallas-Fort Worth-Arlington metro-context rent. Those wider values are comparison context, not ZIP-specific substitutes.
The recent decline extends a cooling history rather than reversing it: exact same-month ZORI change was -0.7% over one year and -1.1% over three years, following a positive 2.5% annualized change over five years. History coverage was 100%, supporting a complete backward-looking record through the stated endpoint. Monthly rent movements produced 3.0% annualized variability, which suggests that a single current ZORI reading is reasonably stable but still not a unit quote. Separately, the maximum historical drawdown was 6.4%, showing a meaningful prior retreat from an earlier index peak. Transparent national discovery ranks among history-eligible ZIPs were 2,634 for momentum, 1,557 for stability, and 2,563 for the balanced measure; lower ranks are stronger. These are measurements of past behavior, not forecasts or investment recommendations.
Source differences matter here. The matched ACS 2024 five-year survey reported median gross rent of $1,891 for occupied renter homes, so it was higher than the current Zillow asking-rent index. ACS median gross rent is a survey measure, includes selected utilities, and describes occupied renter households rather than currently marketed listings. HUD’s two-bedroom fair market rent standard was $2,580, placing ZIP ZORI 30.5% below that administrative benchmark. HUD FMR and SAFMR values are bedroom-specific program standards, not asking rents. Neither ACS nor HUD should be read as a replacement for the ZIP’s current Zillow asking-rent index.
The local HUD ladder can nevertheless organize a bedroom view when it is used only as a scaling device. The resulting modelled ZIP estimates are $1,466 for a studio, $1,528 for one bedroom, $1,792 for two bedrooms, $2,257 for three bedrooms, and $2,869 for four bedrooms. These estimates scale the ZIP-wide ZORI by the local HUD bedroom ladder; they are not measured bedroom rents, rental listings, lease transactions, or proof that any available home rents at those amounts. The wide spread across the modelled ladder reinforces why a blended ZIP index should not be treated as a quotation for a particular floor plan.
At the ZIP index level, the arithmetic income screen is more favorable than the burden survey alone might imply. Paying the current ZORI while allocating 30% of gross income to rent requires $71,680 of annual income. ACS reports median household income of $117,088, and the current asking-rent-to-income comparison is 18.4%. Those figures are broad area measures, not applicant underwriting. In the ACS renter sample, 4,248 of 11,994 renter households, or 35.4%, reported spending at least 30% of income on gross rent. That burden measure includes occupied households and selected utilities; it cannot establish affordability, qualification, or conditions for a particular unit. The 30% screen is arithmetic, not advice or an applicant qualification rule.
ACS housing evidence adds supply context without demonstrating vacancy at a specific property. The matched ZCTA had 1,244 vacant homes and a 6.1% overall vacancy rate, while renters occupied 62.4% of occupied housing. Of the vacant homes, 893 were classified as vacant for rent. Housing stock spans both single-family and large multifamily structures, a mix consistent with the need to compare like with like when reviewing listings. The vacancy and renter-share figures describe an area-wide survey universe; they do not identify concessions, physical condition, lease turnover, availability, or rent pressure at an individual building.
The for-sale picture provides a separate tension. In Redfin’s direct rolling-three-month ZIP resale observation, median sold price was $672,348, down 3.9% year over year; 93 homes sold with a median 36 days on market. Inventory was 139 homes and months of supply stood at 4.5. Sale-to-list evidence was also restrained, with 12.2% of sales closing above list price. Annualized ZIP ZORI divided by median sold price produced a 3.2% cross-source screening ratio only; it is not a cap rate, net return, expected return, or property yield. The decline in resale pricing broadly confirms the rent history’s cooling direction, while the still-observed transaction flow challenges any conclusion that slower rent growth alone describes all housing-market activity. These are resale observations, not rental transactions or rental comparables.
The central limitation is that each source answers a different question at a different level of aggregation. ZORI is a blended asking-rent index, ACS is a survey of occupied renter homes, HUD is an administrative standard, and Redfin is direct ZIP resale evidence. Before applying this report to a property, the unresolved facts are the actual bedroom count, property type, asking rent, included utilities, mandatory fees, lease term, availability date, listing age, concessions, and whether nearby rentals are genuinely comparable. For a sale listing, relevant checks instead include the specific home’s condition, list and sale history, and characteristics of the cited resale comparables. No area-level metric can replace those property-level facts.
","findings":[{"body":"ZIP ZORI is currently below its year-earlier level and the exact same-month three-year change is also negative, while the five-year annualized change remains positive. That sequence indicates that recent cooling is an extension of the medium-term path rather than a sudden break. Full historical coverage supports the measurement, but it remains backward-looking and does not forecast future asking rents.","title":"Cooling asking-rent path"},{"body":"The arithmetic income needed to place current ZIP ZORI at 30% of gross income is below the reported ACS median household income. Yet more than one-third of surveyed renter households reported gross-rent burdens at or above that threshold. This is not contradictory: the income screen uses a current blended asking-rent index, while ACS describes occupied households, selected utilities, and varied household circumstances.","title":"Income screen and burden survey diverge"},{"body":"The studio-through-four-bedroom figures are modelled estimates derived by scaling ZIP ZORI with the local HUD bedroom ladder. They provide a consistent way to compare relative bedroom levels, but they are not direct measurements of asking rents, signed leases, concessions, or available inventory. Unit type, utility treatment, building age, and listing terms can cause actual asking rents to differ materially.","title":"Bedroom figures are scaled, not observed"},{"body":"Redfin’s direct ZIP resale data show a lower median sold price than a year earlier alongside completed transactions, measured marketing time, inventory, and limited above-list activity. That restraint broadly aligns with cooling ZORI history. However, resale prices and rental asking rents are separate universes, and the annualized-rent-to-price figure is only a cross-source screen rather than a property-level return measure.","title":"Resale cooling supports, but does not define, rental evidence"}],"risks":["A blended ZIP asking-rent index can differ from any specific listing because bedroom count, housing type, utilities, fees, lease duration, concessions, availability, and unit condition are not supplied in the index.","ACS rent, income, vacancy, and burden figures are five-year survey estimates for a matched statistical ZCTA, not a current census of listings or a determination of any household’s present circumstances.","HUD bedroom standards are administrative benchmarks rather than market asking rents, so using their ladder to scale ZORI creates modelled bedroom estimates that should not be treated as observed comparables.","The Redfin rent-to-price screen excludes operating costs, financing, taxes, insurance, maintenance, vacancy experience, property condition, and transaction costs; it cannot describe a property’s net economics."],"qa":[{"a":"Each figure comes from a different evidence universe. Zillow ZORI is a ZIP-level typical observed asking-rent index blended across rental types. ACS median gross rent is a five-year survey of occupied renter homes and includes selected utilities. HUD is a bedroom-specific administrative standard. The modelled bedroom figures scale ZORI with the HUD ladder and are not measured rents.","q":"Why does the report show different rent figures for the same ZIP?"},{"a":"No. The figure simply divides annualized current ZIP ZORI by 30% to show the gross income associated with that arithmetic threshold. It is not financial advice, a leasing rule, an affordability determination, or an applicant qualification standard. Actual qualification can depend on a property’s rent, fees, income documentation, credit policies, household composition, and lease terms.","q":"Does the 30% required-income figure determine whether someone can rent a home?"},{"a":"The complete historical record shows recent and medium-term cooling after a positive longer-run annualized path. Low-to-moderate annualized variability supports using the current ZORI as a useful ZIP-level reference, while the historical drawdown shows that the index has moved meaningfully from prior highs. It should therefore be treated as a current benchmark, not a fixed quote or forecast.","q":"What does the rent history say about confidence in the current asking-rent snapshot?"},{"a":"Use resale evidence as a separate direct ZIP observation of the for-sale market. Median sold price, sales volume, marketing time, inventory, supply, and sale-to-list behavior describe completed home transactions rather than rental activity. The annualized ZORI-to-price calculation is only a cross-source screening ratio. It does not measure cap rate, property yield, net return, or expected performance.","q":"How should the resale data be used alongside the rental data?"}],"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 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