For the distinctive decision question in this ZIP, the issue is not simply whether rent moved, but how a current asking-rent signal relates to household resources and a renter-dominated occupied base. In June 2026, Zillow’s ZIP-level ZORI is $1,366 per month, up 0.19% year over year, a near-flat observed change rather than evidence about every listing. The five-digit label 89119 functions both as 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, so this report uses the ZIP asking index and matched ZCTA survey results as aligned geography labels, not as interchangeable delivery boundaries.
The income and burden signals make the price-to-resources question more salient. In the matched ACS ZCTA survey, median household income was $46,960. Applying the stipulated 30% share of gross income to the $1,366 monthly ZORI yields $54,640 in annual required income; the index therefore equals 34.9% of that median income when annualized. This 30% required-income screen is arithmetic, not advice or an applicant qualification rule. Renters occupied 77.2% of occupied units, or 16,724 renter-occupied units; the survey estimates 57.1%, or 9,545 renter households, with gross-rent burdens at or above that threshold. These are ACS survey estimates, not statements about a prospective renter or a particular unit.
The rent measures should not be collapsed into a single price series. Zillow’s June index is a typical observed asking-rent index blended across rental types. By contrast, the ACS 2024 five-year ZCTA median gross rent is $1,252 for occupied renter homes and includes selected utilities. The asking index is 9.1% higher, but that gap is definitional as well as temporal and does not measure appreciation. The supplied FY2026 HUD two-bedroom FMR is $1,735, making the $1,366 ZORI 78.7% of that benchmark. HUD FMR/SAFMR is an administrative, bedroom-specific standard, not asking rent; the source note identifies the local HUD ladder as ZIP SAFMR or county-derived.
For bedroom comparison, the modelled ZIP estimates run from $1,049 for a studio to $2,176 for four-bedroom homes, with $1,164 for one bedroom, $1,366 for two bedrooms, and $1,900 for three bedrooms. These figures scale the ZIP ZORI by the relative steps in the supplied local HUD ladder; the two-bedroom modelled estimate equals the ZIP index because it is the anchor. They are modelled estimates, never measured bedroom rents. Consequently, they cannot show which bedroom types are being marketed, whether a unit exists at a displayed level, or how unit features, utilities, timing, and lease terms affect an actual asking price. The HUD schedule supplies the scaling relationship, not transaction or listing evidence for each size.
Housing composition provides a separate constraint on how broadly the rent signals can be read. The matched ZCTA had 24,551 housing units and reported an 11.8% vacancy rate. Among vacant units, 1,159 were classified for rent, 798 as seasonal, and 46 for sale. The source also distinguishes single-family stock from units in large multifamily structures. These are ACS stock and use classifications, not a real-time listing feed. In particular, a vacancy category does not prove that a particular unit is available, priced at the index, rentable on desired terms, or suitable for a given household.
Wider-area comparisons are descriptive context, and their measure type must remain explicit. In the Las Vegas city scope, median gross rent is $1,563; in the Clark County scope, median gross rent is $1,626. In separate Zillow asking-index context, the Clark County scope is $1,748 and the Las Vegas-Henderson-Paradise, NV metro scope is also $1,748. The city, county, and metro values are wider context only and aggregate beyond the ZIP. The city and county gross-rent measures do not replace Zillow’s current asking index. No city, county, or metro value should be blended into the matched ZCTA result or used as a property quote.
Several limits prevent a unit-level conclusion. Zillow is an asking-rent index rather than an executed-lease series; ACS is a multiyear survey with sampling uncertainty and applies to the ZCTA; HUD is a policy standard. The matched-area distinction matters because a ZCTA is a statistical area, not a USPS delivery ZIP. Before relying on any property figure, check the advertised monthly rent, bedroom count and layout, included utilities, mandatory recurring fees, deposits, concessions, lease length, move-in date, availability, and whether the listing geography actually uses the ZIP label. Compare those terms with the relevant source definition rather than treating the index, survey median, HUD ladder, burden share, or vacancy count as evidence about that specific home.
","findings":[{"body":"Zillow places the ZIP asking-rent index at the supplied monthly level, with barely positive annual movement. Comparing that index with the ZCTA household-income median produces an arithmetic gross-income screen above the median. This does not identify any household’s earnings, lease terms, utility obligations, fees, or ability to qualify, but it makes property-level price verification central to interpreting the broad market signal.","title":"Asking signal versus household resources"},{"body":"The observed Zillow index, ACS median gross rent, and HUD standard answer different questions. Zillow tracks typical advertised asking rent across a blended rental mix. ACS describes surveyed occupied renter homes and selected utilities, while HUD supplies an administrative bedroom schedule. The differences are useful only when timing, population, rent definition, and the noninterchangeable source scopes remain separate.","title":"Three rent universes remain distinct"},{"body":"The bedroom figures are modelled ZIP estimates produced by scaling ZORI with the supplied local HUD ladder. They are not measured rents for studios, one-bedroom homes, or larger homes, and do not establish a property’s available floor plan, condition, lease structure, utility treatment, or concessions. A listing-level quote remains the applicable property-specific price observation.","title":"Bedroom figures are modelled, not observed"},{"body":"Renter occupancy accounts for most occupied housing, and the ACS burden statistic records a substantial share reporting gross-rent burdens at or above the stated screen. Vacant units are subdivided into stated use categories rather than forming one pool of immediately rentable homes. These survey measures describe ZIP-level composition, not availability, cost, affordability, or suitability for an individual unit.","title":"Composition does not establish availability"}],"risks":["Zillow’s ZIP index is a blended typical asking-rent measure, not a quote for a specific building, bedroom count, condition, lease term, utility arrangement, fee schedule, or move-in date.","ACS survey statistics apply to a matched ZCTA over a five-year period, include sampling uncertainty, and cannot establish a current rent, a tenant profile, or the availability of any particular listing.","HUD FMR or SAFMR values are bedroom-specific administrative standards, and the supplied ladder may reflect ZIP SAFMR or county derivation; neither status converts the standard into observed asking rent.","Vacant-for-rent and seasonal classifications describe survey-time housing stock categories. They do not establish that a unit is vacant today, can be leased, has a stated rent, or meets a household’s needs."],"qa":[{"a":"The June 2026 Zillow ZORI represents a typical observed asking-rent index for the ZIP market across a blended set of rental types. It is not an executed lease average, a promised asking price, or evidence that every available property or bedroom category is offered at that level.","q":"What does the current ZIP rent figure represent?"},{"a":"The ACS estimate summarizes a five-year survey of occupied renter homes in the matched ZCTA and includes selected utilities in gross rent. Zillow instead provides a typical asking-rent index in the ZIP market. Different observation periods, populations, and rent definitions allow descriptive comparison, but they prevent the figures from becoming one rent series or an appreciation calculation.","q":"Why is the ACS gross-rent figure not the same as Zillow’s index?"},{"a":"No. Each studio-through-four-bedroom figure is a modelled ZIP estimate created by scaling the ZORI with the relative steps in the supplied local HUD ladder. The approach supports an internally consistent size comparison, but it does not observe a listing, executed lease, unit count, available floor plan, property condition, or lease terms.","q":"Are the bedroom amounts measured rents?"},{"a":"Confirm the advertised monthly rent, bedroom count, layout, included utilities, recurring mandatory fees, deposits, concession conditions, lease length, move-in date, availability, and the geography stated in the listing. Those checks identify the applicable quote and terms; the ZIP index, ACS survey, HUD standard, burden share, and vacancy data cannot supply them for a specific home.","q":"Which property-level checks resolve the main limitations?"}],"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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