ZIP 89134’s current Zillow ZORI is $2,282, up 2.3% from the same month a year earlier. Zillow ZORI is a ZIP-level typical observed asking-rent index blended across rental types, so it is not a lease-by-lease rent quote or a unit-specific comparable. The local asking-rent level sits above the $1,722 Las Vegas city context rent, the $1,748 Clark County context rent, and the $1,748 Las Vegas-Henderson-Paradise, NV metro context rent. That premium is the central current signal: this ZIP’s asking-rent index is higher than each wider-area benchmark, while the remaining evidence determines whether that premium is supported by household resources, rent history, and resale conditions.
The matched Census ZCTA provides a different lens. A ZCTA is a Census statistical area and is not identical to a USPS delivery ZIP. In the ACS 2024 five-year survey, occupied renter homes in the matched ZCTA reported a median gross rent of $2,132, including selected utilities; that is 7.0% below the Zillow asking-rent index. Median household income was $83,688, while a $91,280 annual income corresponds arithmetically to paying the current Zillow index at 30% of income. The resulting asking-rent-to-income screen is 32.7%, above that arithmetic threshold. Among 2,088 surveyed renter households, 978, or 46.8%, were rent burdened at 30% or more. This is not an applicant qualification rule or affordability advice, and it cannot establish the burden of any individual household or unit.
The local bedroom ladder is modelled rather than measured. Scaling ZIP ZORI through the local HUD ladder produces monthly estimates of $1,753 for a studio, $1,944 for one bedroom, $2,282 for two bedrooms, $3,174 for three bedrooms, and $3,635 for four bedrooms. These are modelled estimates, never measured bedroom rents. HUD’s two-bedroom standard is $1,735, making the current ZORI-based two-bedroom estimate 31.5% higher. HUD FMR or SAFMR is an administrative, bedroom-specific standard rather than asking rent, so the comparison helps describe the local ladder’s structure but does not show what a particular advertised apartment, condominium, or house is asking.
Housing composition adds an important constraint to reading rent metrics. The matched ZCTA contained 12,983 housing units, including 12,676 single-family units and only 3 large multifamily units. Renter households numbered 2,088, representing a 17.5% renter share, while the overall vacancy rate was 8.0%. This is therefore a predominantly owner-occupied, single-family housing stock rather than a large-apartment-stock setting. Vacancy describes the ZCTA’s housing inventory at the survey level; it does not prove availability, condition, pricing, or turnover for a specific rental. Likewise, the renter share does not identify the type of home represented by Zillow’s blended asking-rent index.
The backward-looking Zillow history shows continued growth, but the pace has eased from the longer path. Exact same-month change was 2.3% over one year, compared with annualized changes of 2.7% over three years and 5.2% over five years. Recent direction therefore confirms that asking rent remains above its year-earlier level, yet it breaks from the stronger growth pace visible across the five-year record. Annualized monthly-return variability of 3.2% means a single current rent snapshot deserves measured confidence rather than an assumption of a smooth path. Separately, the maximum drawdown was 3.6%, showing that the historical index did experience declines. Coverage reached 99.3% across 137 observations. National discovery ranks among history-eligible ZIPs were 1,254 for momentum, 1,956 for stability, and 1,675 for the balanced measure; these are transparent descriptive ranks, not forecasts or investment recommendations.
The direct rolling-three-month Redfin ZIP resale observation introduces a counterweight. Median sold price was $509,885, up 4.1% year over year, with 204 homes sold. Yet marketing time was 58 days, inventory stood at 287 homes, and months of supply measured 4.3. Average sale-to-list was 97.0%, while 7.6% of sales closed above list price. These are for-sale-market observations, not rental transactions or rental comparables. Price appreciation in the resale record broadly confirms a higher-value housing setting, but slower marketing and below-list average outcomes challenge any simple reading of the rent premium as uniformly urgent demand. Annualized ZIP ZORI divided by median sold price is 5.4%, a cross-source screening ratio only; it is not a cap rate, property yield, net return, or expected return.
The main evidence tension is therefore clear: 89134 has an asking-rent index above city, county, and metro context, but its current rent growth is more moderate than its longer historical growth rate and its household-income screen is above the arithmetic thirty-percent marker. The burden share is lower than the city and county context burden shares, yet it remains material within the ZCTA renter sample. Census gross rent, Zillow asking rent, HUD standards, and Redfin resale data answer different questions and should not be substituted for one another. Each also has timing and method limits: ACS is a multi-year survey, Zillow is an index, HUD is administrative, and Redfin describes closed resale activity.
A property-level file would need to test the broad ZIP signals against the actual unit. Useful checks include the current advertised asking price and concessions, bedroom classification, utility responsibility, lease term, property condition, occupancy status, and comparable listings available at the same time. For a purchase-oriented review, the relevant checks would separately include the specific property’s sale history, active competing listings, listing-to-sale negotiation evidence, and repair or operating obligations not captured by ZIP resale statistics. The key question is not whether one index or standard is “right,” but whether the individual property’s current terms resemble the distinct rental, survey, administrative, and resale evidence summarized here.
","findings":[{"body":"ZIP 89134’s Zillow asking-rent index is above the Las Vegas city, Clark County, and Las Vegas-Henderson-Paradise metro context rents. That establishes a meaningful ZIP-level premium, but Zillow ZORI is a blended typical asking-rent index across rental types. It should not be treated as a direct quote for a particular house, apartment, or bedroom count.","title":"Asking-rent premium versus wider context"},{"body":"Median household income in the matched ZCTA supports a useful arithmetic comparison, but the current asking-rent index exceeds the income level associated with a thirty-percent rent-to-income screen. At the same time, the surveyed renter burden share is below the city and county context burden shares. This combination suggests neither a uniformly easy nor uniformly stressed rental picture.","title":"Income screen and renter burden point in different directions"},{"body":"Same-month Zillow rent growth remained positive over the latest year, although it lagged the annualized three-year and five-year growth rates. The history also includes measurable monthly variation and a prior drawdown. Strong series coverage increases confidence that the history is observed rather than sparse, but it does not turn the current value into a forecast.","title":"History remains positive but has decelerated"},{"body":"Redfin’s direct ZIP resale data show year-over-year sold-price growth, yet marketing time, supply, average sale-to-list outcomes, and the limited share of above-list sales indicate a less urgent resale environment than a headline price increase alone might suggest. Those figures describe closed and active for-sale market conditions only, not rental demand, rental transactions, or property operating economics.","title":"Resale evidence tempers a simple rent-strength reading"}],"risks":["The Zillow figure is a blended ZIP asking-rent index, so it may not match the bedroom count, condition, utility treatment, lease structure, concessions, or availability of an individual rental property.","ACS renter, income, vacancy, and burden measures come from a matched ZCTA five-year survey with sampling uncertainty; the ZCTA is statistical geography and is not the same as a USPS delivery ZIP.","HUD bedroom standards are administrative benchmarks rather than observed asking rents. The modelled bedroom ladder inherits that structure and cannot verify actual advertised rents for specific unit sizes or property types.","Redfin resale observations concern the for-sale market, while the annualized-rent-to-price figure combines separate data sources. It cannot establish cap rate, expenses, financing outcomes, tenant demand, or expected returns."],"qa":[{"a":"They are different evidence universes. Zillow ZORI is a typical observed asking-rent index blended across rental types, while ACS median gross rent is a five-year survey measure for occupied renter homes and includes selected utilities. Differences can reflect method, timing, occupied-versus-advertised housing, rental mix, and utility treatment without proving that either source is incorrect.","q":"Why does Zillow asking rent differ from ACS median gross rent?"},{"a":"No. The studio through four-bedroom figures are modelled monthly estimates created by scaling the ZIP Zillow ZORI with the local HUD bedroom ladder. They provide a consistent sizing framework, but they are not measured bedroom rents, not direct listing compilations, and not evidence that a specific available unit can be leased at those amounts.","q":"Are the bedroom rent figures measured rents for 89134?"},{"a":"The screen divides the current annualized Zillow asking-rent index by median household income, and it also calculates the income associated with paying that index at thirty percent of income. It is arithmetic only. It is not affordability advice, a tenant-screening threshold, an applicant qualification rule, or evidence of the financial position of a particular household.","q":"What does the rent-to-income screen show?"},{"a":"Redfin’s rolling-three-month ZIP resale observation can describe sale prices, sales pace, inventory, supply, and negotiation signals in the for-sale market. It should remain separate from rental evidence. Comparing annualized Zillow ZORI with median sold price produces only a cross-source screening ratio, not a cap rate, net return, property yield, or forecast.","q":"How should the resale data be used alongside rent 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 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