ZIP 89178 is both Zillow’s ZIP market identifier and a match to a Census ZCTA. A ZCTA is a statistical area, however, and is not identical to a USPS delivery ZIP. Zillow’s June 2026 ZORI, a typical observed asking-rent index blended across rental types, was $2,090 per month, essentially unchanged at 0.06% from a year earlier. For wider rental context, the Las Vegas city context was $1,722, the Clark County context was $1,748, and the Las Vegas-Henderson-Paradise, NV metro context was also $1,748. That premium makes the ZIP’s current asking-rent snapshot distinct from those broader geographies, while the nearly flat annual move makes the immediate direction more muted than the level alone suggests.
The matched Census ZCTA’s ACS 2024 five-year median gross rent was $2,104, with a $69 margin of error, placing Zillow’s current asking-rent index at 99.3% of that survey measure. These are related but separate evidence universes: ACS median gross rent is a five-year survey of occupied renter homes and includes selected utilities, whereas ZORI reflects observed asking rents. The ZCTA’s median household income was $108,806, with a $4,551 margin of error. Annualizing the current ZORI produces a 30% required-income screen of $83,600 and an asking-rent-to-income ratio of 23.1%. That screen is arithmetic only, not advice and not an applicant qualification rule; household income, utilities, and lease terms can differ materially at the property level.
The local HUD ladder provides a way to scale the ZIP-wide ZORI into bedroom-specific modelled estimates, not measured bedroom rents. The modelled monthly estimates are $1,606 for a studio, $1,780 for one bedroom, $2,090 for two bedrooms, $2,907 for three bedrooms, and $3,330 for four bedrooms. They apply the local HUD bedroom relationship to the ZIP’s all-types ZORI rather than observing separate ZIP rents for each unit size. HUD’s two-bedroom standard is $1,735, so the current ZIP ZORI is 120.5% of that benchmark. HUD FMR or SAFMR is an administrative, bedroom-specific standard rather than asking rent, and it should not be used as a substitute for a lease-price comparable.
Housing composition adds another constraint to interpretation. The matched ZCTA had 44,165 residents, with a population margin of error of 2,228, and contained 16,309 housing units. Single-family structures accounted for 14,728 units, while large multifamily structures accounted for 888 units. Renter-occupied homes represented 27.4% of occupied housing, and the area-wide vacancy rate was 3.7%. These counts and rates describe the ACS/ZCTA housing stock rather than live rental availability. Among renter households, 52.3% reported paying at least 30% of income toward gross rent. That burden statistic describes surveyed occupied renter households, not the affordability of any particular vacant unit, household, or new lease.
The historical ZORI record places today’s flat annual change in a longer but uneven path. Exact same-month annualized rent change was 0.06% over one year, compared with 1.2% over three years and 2.8% over five years. Thus, the recent direction breaks from the prior multi-year growth pace rather than confirming it. The history has 138 monthly observations and 100% stated coverage, supporting a complete backward-looking measurement for the available window. Monthly rent changes translated to 2.4% annualized variability, which suggests relatively limited movement but still reduces confidence in treating one current snapshot as a durable level. Separately, the maximum drawdown was 3.5%, showing that rent index declines occurred. The transparent national discovery ranks were 469 for stability and 2,229 for momentum among history-eligible ZIPs, where lower ranks are higher; these are descriptive ranks, not forecasts or investment recommendations.
Redfin supplies a separate direct rolling-three-month ZIP resale observation, not rental transaction evidence. Its median sold price was $499,877, down 2.0% year over year, across 206 homes sold. Marketing time was 59 days, and inventory stood at 178 homes with 2.6 months of supply. The average sale-to-list ratio was 98.8%, while 10.5% of sales closed above list price. Those are for-sale liquidity and pricing signals only; they do not establish lease rates, renter demand, or property operating results. Annualized ZIP ZORI divided by the median sold price equals a 5.0% cross-source screening ratio. It is a screening comparison only, not a cap rate, net return, expected return, or property yield. The resale price decline and below-list average challenge any simple reading of the longer rent-growth history as uniformly strengthening market conditions.
The central tension is therefore between a comparatively high current asking-rent index, a recent pause after longer-term rent growth, and a resale market showing softer price and sale-to-list signals. The ACS income and burden measures point in different directions: the area-wide required-income arithmetic is below the reported median household income, yet a substantial share of surveyed renter households remains rent burdened. Neither result proves the experience of a prospective tenant or a specific property. Likewise, low area-wide vacancy does not establish that a suitably priced unit is available. The city, county, and metro rent comparisons identify broader context, but none can replace evidence from a particular ZIP listing, lease, or building.
Important limits remain. Zillow ZORI is an index rather than a property appraisal or a bedroom-specific rent survey; ACS is a lagged five-year ZCTA survey with sampling uncertainty; HUD is an administrative standard; and Redfin measures resale activity in a rolling ZIP period. Historical measures describe what occurred through their endpoint and do not predict future rents or prices. Before attaching these figures to a specific home, the unresolved property-level checks are the advertised rent, bedroom count, utility responsibility, lease duration, availability date, concessions, condition, and directly comparable active listings. The practical analytical question is whether those property facts align with the separate asking-rent, survey, HUD, and resale evidence rather than whether any one metric can stand in for all of them.
","findings":[{"body":"Zillow’s ZIP-level asking-rent index was $2,090 in June 2026, above the stated Las Vegas city, Clark County, and metro context rents. Yet the year-over-year increase was only 0.06%. The combination identifies a high current level without meaningful recent acceleration. ZORI is a blended asking-rent index across rental types, so it should not be read as the observed asking price for a specific unit.","title":"Current rent is elevated relative to wider context, but momentum is flat"},{"body":"ACS median gross rent in the matched ZCTA was $2,104, close to the $2,090 ZORI level. The apparent alignment does not make the two measures interchangeable: ACS covers occupied renter homes over a five-year survey period and includes selected utilities, while Zillow tracks a current asking-rent index. The closeness is useful context, but it does not establish current lease pricing or utility-inclusive rent for a particular property.","title":"Survey rent closely matches the current asking-rent index"},{"body":"Same-month rent growth was nearly flat over the latest year but stronger over the three- and five-year windows. The historical series had complete stated coverage and relatively low annualized variability, although its maximum drawdown confirms that declines have occurred. This makes the current ZORI informative as a snapshot, but less persuasive as evidence that the earlier growth pace remains intact.","title":"History shows a pause after multi-year growth"},{"body":"Redfin’s direct ZIP resale data showed a year-over-year median sale-price decline, marketing time of 59 days, and an average sale-to-list ratio below 100%. These are for-sale market observations, not rental evidence. They challenge a simple interpretation that the area’s longer rent history alone signals broad strengthening. The annualized-rent-to-price figure is only a cross-source screening ratio and does not represent property economics.","title":"Resale evidence introduces a separate caution signal"}],"risks":["The current Zillow figure is a blended ZIP asking-rent index, so applying it directly to a specific unit can misstate the effect of bedroom count, utilities, lease terms, condition, or concessions.","ACS rent, income, burden, tenure, and vacancy measures come from a matched ZCTA five-year survey with margins of error; the ZCTA is statistical geography rather than an exact USPS delivery ZIP.","The bedroom ladder is modelled by scaling ZIP ZORI with HUD standards. It is not measured bedroom rent evidence and cannot substitute for directly comparable active rental listings or signed leases.","Redfin resale indicators describe rolling ZIP home sales rather than rentals. Price, inventory, and sale-to-list signals may conflict with rent measures and do not establish tenant demand or property operating outcomes."],"qa":[{"a":"They answer different questions. Zillow ZORI is a current ZIP-level typical observed asking-rent index blended across rental types. ACS median gross rent is a five-year survey statistic for occupied renter homes and includes selected utilities. Their close levels provide context, but they do not turn either source into a property-specific lease comparable.","q":"Why does the report show both Zillow rent and ACS gross rent?"},{"a":"No. The bedroom amounts are modelled estimates produced by scaling the ZIP-wide Zillow ZORI with the local HUD bedroom ladder. HUD FMR or SAFMR is an administrative bedroom-specific standard, not asking rent. The resulting figures help describe relative bedroom sizing but are not measured ZIP rents for those individual bedroom categories.","q":"Are the bedroom figures observed rents for studios through four-bedroom homes?"},{"a":"No. The required-income figure is simply annualized asking rent divided by the structural 30% threshold. It is not financial advice, an affordability finding for a particular household, or an applicant qualification rule. Actual household resources, utilities, debts, subsidies, occupancy, lease duration, and landlord screening standards are outside this arithmetic screen.","q":"Does the required-income screen determine whether a renter can afford or qualify for a home?"},{"a":"The essential property-level evidence is the advertised rent, actual bedroom count, utility inclusions, lease length, availability date, concessions, condition, and comparable active listings. Those details determine whether the listing resembles the broad ZORI index or the modelled bedroom ladder. Resale figures should remain separate because they describe home sales rather than rental transactions.","q":"What should be checked before using the ZIP figures for a specific property?"}],"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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