Rent is the immediate tension in this ZIP: Zillow ZORI stands at $1,973 in June 2026 for 89052, after a 1.5% year-over-year increase. Zillow ZORI is a typical observed asking-rent index blended across rental types, rather than a census survey result or a quoted rent for a specified available unit. The five-digit label is both Zillow’s ZIP market identifier and a matched Census ZCTA; a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. That distinction matters when translating an area-level rent signal into a property-level decision.
The backward-looking Zillow history shows continued growth, but at a slower recent pace than the longer path. Exact same-month annualized changes were 1.5% over one year, 2.1% over three years, and 2.9% over five years. Thus, the current direction confirms the longer upward path without matching its earlier rate. History has 100% coverage. Monthly index movements annualize to 2.5% variability, which supports some confidence that the current reading is not an isolated extreme but still argues against treating one rent snapshot as definitive. Separately, the deepest observed peak-to-trough decline was 5.3%. Transparent national discovery ranks were 1,618 for momentum, 686 for stability, and 1,078 for the balanced measure, where a lower rank is higher. These are historical measurements, not forecasts or investment recommendations.
The bedroom view is a scaling exercise, not a set of observed unit rents. Modelled monthly ZIP estimates are $1,516 for a studio, $1,681 for one bedroom, $1,973 for two bedrooms, $2,744 for three bedrooms, and $3,143 for four bedrooms. They are modelled estimates created by scaling ZIP ZORI with the local HUD bedroom ladder, never measured bedroom rents. The underlying HUD FMR/SAFMR standard runs from $1,333 for a studio to $2,764 for four bedrooms. HUD is an administrative, bedroom-specific standard rather than asking rent, so the ladder is useful for proportional screening but does not establish what any listed apartment or house is asking.
The matched ACS five-year survey frames a separate household experience. It reports median household income of $97,999 and median gross rent of $1,961 among occupied renter homes; ACS gross rent includes selected utilities and is not the same universe as Zillow asking rent. Annualizing the current ZORI and dividing by the 30% screen produces required income of $78,920, while the asking-rent-to-median-income calculation is 24.2%. That screen is arithmetic, not advice and not an applicant qualification rule. At the same time, 55.9% of renter households in the ACS ZCTA reported spending at least 30% of income on rent. The area-level burden result therefore cautions against treating the median-income screen as proof of affordability for a particular household or unit.
Housing composition supplies another constraint on interpretation. The ZCTA contains 27,010 housing units, with a 5.8% vacancy rate and a 38.5% renter share. Single-family units account for 19,700 units, compared with 3,056 large-multifamily units. This is ACS stock and occupancy evidence for the ZCTA, not a current catalog of rental listings. A vacancy percentage cannot demonstrate that a suitable unit is available, nor can it establish its condition, lease terms, utility treatment, or actual asking price. The stock mix nonetheless gives context for why a blended asking-rent index should not be read as an apartment-only measure.
Wider geography provides context rather than substitutes for ZIP evidence. The Henderson city-scope Zillow context rent is $1,825.80, while the Clark County scope and Las Vegas-Henderson-Paradise metro-scope context rents are both $1,748. The metro-scope rent-to-income context measure is 27.43%. Those city, county, and metro figures sit below the ZIP asking-rent index, but each belongs to a broader geography and should be named as such rather than used as a direct ZIP rental comparable. Their main decision value is to show that the ZIP’s current Zillow reading is relatively elevated within the supplied regional context, not to explain why it is elevated.
The direct rolling-three-month ZIP resale evidence creates the clearest counterweight to the rent screen. Redfin reports a $674,847 median sold price, up 12.5% year over year, alongside 252 homes sold and a 60-day median marketing time. It separately shows 632 active listings, 340 homes of inventory, and 4.1 months of supply. Sale-to-list evidence remained below par: the average sale-to-list ratio was 97.2%, 6.1% of homes sold above list, and 23.3% went off market within two weeks. This is a for-sale/resale observation, not rental transaction evidence. Annualized ZIP ZORI divided by median sold price is 3.5%, a cross-source screening ratio only—not a cap rate, net return, expected return, or property yield. Rising resale prices alongside slower recent rent growth challenges any simple rent-versus-price reading, even as the volume of completed sales supplies direct ZIP liquidity evidence.
The evidence is strongest as a structured comparison, not as a conclusion about any address. Zillow, ACS, HUD, and Redfin use different populations, definitions, and observation windows; ACS survey estimates also carry reported sampling uncertainty. Before applying this ZIP view to a property, verify the current address-level asking rent, actual bedroom count, lease duration, included utilities, concessions, availability date, and condition. For a resale comparison, verify the property’s sale date, list history, closing record, and physical characteristics rather than assigning ZIP median results to the home. The central question is whether those property-level facts support or materially depart from the separate area-level rent, household, stock, and resale signals presented here.
","findings":[{"body":"Zillow’s ZIP asking-rent index is $1,973, while ACS reports $1,961 median gross rent for occupied renter homes in the matched ZCTA. The numerical proximity is useful context, but the measures remain distinct: Zillow blends asking rents across rental types, whereas ACS is a five-year survey measure that includes selected utilities.","title":"Current asking rent is near the ACS gross-rent benchmark"},{"body":"The one-year Zillow history gain is below the exact same-month annualized three-year and five-year changes. That pattern continues the longer upward rent path while indicating deceleration rather than an acceleration. Full history coverage and relatively contained variability support use of the series as context, but the recorded drawdown remains relevant to current-rent confidence.","title":"Growth persists, but the recent pace has moderated"},{"body":"Redfin’s direct ZIP resale observation shows a sharply higher median sold price while Zillow rent growth is comparatively modest. Sale activity occurred alongside extended marketing time, supply above four months, and an average sale-to-list ratio below one hundred percent. These for-sale measures cannot be treated as rental comparables, but they challenge a simple interpretation of the rent-price screen.","title":"Resale prices create a rent-to-price tension"},{"body":"The current asking-rent income screen falls below the thirty-percent benchmark at area median income, yet more than half of ACS renter households report burden at or above that threshold. The ZCTA also has a substantial single-family stock presence and a renter share below half. Neither vacancy nor area burden establishes affordability or availability for a particular unit.","title":"Household burden and stock composition limit broad affordability claims"}],"risks":["Zillow’s current index, ACS survey rent, and HUD standard are intentionally different universes and dates; their numerical proximity cannot validate a lease quote, utility obligation, or unit condition.","The modelled bedroom figures apply a HUD-derived proportional ladder to a blended ZIP rent index, so they can differ materially from observed listings by layout, condition, rental type, and lease terms.","ACS burden, vacancy, income, and housing-stock statistics describe the matched ZCTA over a survey period, not current tenant finances, current vacancies, or availability at a particular address.","The resale ratio combines annualized asking rent with median sold price from a separate for-sale observation; it excludes operating costs, financing, taxes, property differences, and transaction-specific conditions."],"qa":[{"a":"Zillow ZORI is a 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 in the matched ZCTA and includes selected utilities. Similar values therefore indicate only numerical proximity between separate source universes, not confirmation of a current lease rent.","q":"Why can Zillow ZORI and ACS median gross rent be close without measuring the same thing?"},{"a":"No. The bedroom amounts are modelled monthly ZIP estimates created by scaling the Zillow ZORI level through the local HUD bedroom ladder. HUD FMR or SAFMR is an administrative bedroom-specific standard, not asking rent. The resulting figures are useful for proportional comparison only and should never be described as measured bedroom rents.","q":"Are the bedroom figures observed rents for available studio through four-bedroom units?"},{"a":"No. The calculation annualizes the ZIP asking-rent index and divides it by thirty percent, making it an arithmetic screening device. It is not advice, a lender standard, a landlord qualification rule, or proof of affordability. Actual household income, debts, utility bills, lease requirements, and unit-specific pricing are outside the calculation.","q":"Does the thirty-percent required-income calculation determine whether a household can qualify or afford a unit?"},{"a":"It supplies a direct rolling-three-month ZIP observation of the for-sale market: sold-price movement, completed sales, days on market, active listings, inventory, supply, and sale-to-list outcomes. It does not describe rental transactions. Its main contribution is to test whether rent trends and the cross-source rent-price screen align or conflict with current resale conditions.","q":"What does the Redfin resale evidence add to this ZIP rental analysis?"}],"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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