ZIP 89147 entered the June 2026 reading with Zillow ZORI at $1,747, up 0.6% from a year earlier. Zillow ZORI is a ZIP-level typical observed asking-rent index blended across rental types, not a lease-by-lease rent roll or a bedroom-specific measurement. The five-digit label is both 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. That distinction matters because the ZIP rent index and the Census household measures below come from different evidence universes.
The backward-looking Zillow history shows a pronounced deceleration rather than a uniformly fast rent path. Exact same-month change was 0.6% over one year, compared with annualized gains of 1.2% over three years and 2.3% over five years. Thus, the latest direction breaks from the stronger longer-run pace, even though it remains positive. History has 100% coverage, with 138 observations and 137 consecutive monthly returns. Annualized month-to-month return variability of 2.7% argues against treating one current index reading as perfectly precise, while the separate maximum peak-to-trough drawdown of 5.7% shows that declines have occurred. Transparent national discovery ranks among history-eligible ZIPs were 2,082 for momentum, 1,055 for stability, and 1,832 for the balanced measure; these are descriptive ranks, not forecasts or recommendations.
Resale data present the counterweight: the Redfin direct rolling-three-month ZIP for-sale observation reports a $414,906 median sold price, 3.1% higher year over year. It also recorded 190 homes sold, a median 52 days on market, reported inventory of 223 homes, and 3.5 months of supply. Sale-to-list averaged 98.4%, while 15.2% of sales closed above list and 32.1% went off market within two weeks. These are resale liquidity and pricing signals, not rental transactions or rental comparables. Annualized ZIP ZORI divided by the median sold price produces a 5.1% cross-source screening ratio only, not a measure of property economics or a forecast. The tension is clear: resale prices advanced more quickly than the latest asking-rent history, while the resale pace and below-list average do not describe an unrestrictedly rapid market.
The ACS 2024 five-year ZCTA survey provides a different household lens. Its median gross rent was $1,807, which is a survey measure for occupied renter homes and includes selected utilities; it is not directly interchangeable with Zillow asking rent. Median household income was $74,985. Applying the mechanical 30% screen to the current $1,747 asking-rent index produces required annual income of $69,880, and the index equals 28.0% of the reported median income. This is arithmetic rather than advice or an applicant qualification rule. Separately, 54.0% of surveyed renter households reported spending 30% or more of income on rent. That burden statistic describes an area-wide survey population and cannot establish affordability, payment history, or utility terms for any particular unit.
Housing composition adds scale to the affordability and rent readings. The matched ZCTA contained 22,929 housing units, with 21,552 occupied and 1,377 vacant, producing a 6.0% overall vacancy rate. Renters occupied 49.4% of occupied homes. The stock included 14,900 single-family units and 3,657 units in larger multifamily structures, so neither one structure type alone represents the full rental universe behind ZORI. Vacancy and renter-share figures describe area-wide housing status rather than the availability, condition, rent, or lease terms of an individual listing. They should therefore be read as context for the mix of occupied and vacant homes, not proof about a specific property.
The bedroom ladder is deliberately modelled rather than observed. Scaling ZIP ZORI through the local HUD ladder produces monthly modelled estimates of $1,342 for a studio, $1,488 for one bedroom, $1,747 for two bedrooms, $2,430 for three bedrooms, and $2,783 for four bedrooms. These are not measured bedroom rents. HUD FY 2026 FMR/SAFMR values are administrative, bedroom-specific standards rather than asking rents, and the local HUD relationship is used only to distribute the ZIP-wide ZORI level across bedroom sizes. A property can differ from these estimates because the underlying ZORI blends rental types and the ladder does not capture an individual unit's actual features, utilities, or terms.
Broader comparisons should remain explicitly broader. The Las Vegas city-scope Zillow asking-rent context is below the ZIP reading, while the Clark County-scope and Las Vegas-Henderson-Paradise, NV metro-scope Zillow values are closely aligned with it. The ZIP also has a higher renter share and a lower overall vacancy rate than the Las Vegas city and Clark County contexts. City and county median gross-rent and rent-burden measures are ACS context rather than ZIP observations, while metro apartment vacancy and apartment marketing-time measures describe a different apartment-market universe. Those comparisons frame relative position; they neither replace the direct ZIP rent index nor explain why any difference exists.
The useful conclusion is a measured one: current asking rent is nearly flat over the latest year after firmer longer-run growth, whereas direct ZIP resale prices show positive annual change and moderate marketing signals. Each result has a distinct source boundary, and none establishes a property-level outcome. Before relying on these figures for a particular address, verify the live asking rent, bedroom count, utility responsibility, lease duration, concessions, availability date, and property condition. For resale interpretation, confirm sale status, listing history, comparable transaction details, and whether the subject property resembles the homes represented in the rolling ZIP observation. These checks are necessary because broad indices, surveys, standards, and resale aggregates cannot substitute for unit-specific evidence.
","findings":[{"body":"Zillow ZORI was $1,747 in June 2026 and rose 0.6% year over year. That same one-year rate trails the annualized three-year and five-year history measures, indicating that the latest asking-rent direction is slower than the longer backward-looking path. The result is still positive, but it does not support reading the current level as a continuation of the earlier growth pace.","title":"Rent growth has slowed materially"},{"body":"Redfin’s direct ZIP resale observation shows a $414,906 median sold price and 3.1% annual appreciation, while Zillow asking-rent growth was only 0.6%. At the same time, 52 median days on market, 3.5 months of supply, and a 98.4% average sale-to-list ratio provide a more mixed liquidity picture than price appreciation alone. These are for-sale signals, not rental evidence.","title":"Resale evidence is firmer than current rent momentum"},{"body":"The mechanical 30% income screen for the $1,747 Zillow index is $69,880 annually, compared with $74,985 median household income in the ACS ZCTA survey. That arithmetic relationship is narrower than a simple rent figure may suggest. Meanwhile, 54.0% of surveyed renter households were rent burdened at 30% or more, which describes households in the survey rather than any prospective tenant.","title":"The affordability screen is close to reported median income"},{"body":"The studio-through-four-bedroom estimates use the local HUD ladder to scale the ZIP-wide Zillow ZORI level. They range from $1,342 for a studio to $2,783 for four bedrooms, with the two-bedroom estimate matching the overall $1,747 index. They are useful for maintaining a consistent bedroom relationship, but they are modelled estimates rather than observed asking rents for individual bedroom categories.","title":"Bedroom figures are modelled through HUD standards"}],"risks":["The Zillow index is a blended typical asking-rent measure across rental types, so it can differ from a specific unit’s advertised rent, concessions, utilities, furnishings, lease term, and actual availability.","ACS median gross rent and rent-burden figures come from a five-year survey of occupied renter households and include selected utilities, making them unsuitable as current lease quotes or unit-level affordability determinations.","The latest one-year rent change is slower than the longer historical rates, and historical variability plus prior drawdown means a single current ZORI snapshot warrants less confidence than a stable unit-specific rent roll.","Redfin resale metrics cover for-sale transactions in a rolling ZIP observation. Median sale price, supply, sale-to-list results, and the rent-price screening ratio cannot establish rental income, expenses, financing outcomes, or return."],"qa":[{"a":"They measure different universes. Zillow ZORI is a typical observed asking-rent index at the ZIP level and blends rental types. ACS median gross rent is a five-year survey estimate for occupied renter homes and includes selected utilities. Differences can therefore reflect timing, household occupancy, utility treatment, and measurement design without implying that either series is incorrect.","q":"Why does the Zillow rent level differ from ACS median gross rent?"},{"a":"No. The studio through four-bedroom amounts are modelled monthly ZIP estimates. They begin with the ZIP-wide Zillow ZORI level and use the local HUD FMR/SAFMR bedroom ladder to distribute that level across bedroom counts. HUD values are administrative standards, not asking rents, so the resulting figures should not be treated as measured listing medians.","q":"Are the bedroom rent figures observed rents for 89147?"},{"a":"It is a mechanical arithmetic screen: annualized Zillow ZORI divided by 30% produces the stated annual income amount. It is not financial advice, an applicant qualification standard, or proof that a household can or cannot afford a unit. Actual affordability depends on household income, debts, utilities, lease terms, assistance, and the specific property’s rent.","q":"What does the 30% income figure mean?"},{"a":"Use the Redfin block only to describe the ZIP’s direct rolling-three-month for-sale market: sold prices, transaction count, marketing time, inventory, supply, and sale-to-list behavior. It does not describe rental transactions. Dividing annualized ZORI by median sold price is only a cross-source screening ratio, so it cannot substitute for property-level rent, expense, or transaction evidence.","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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