ZIP 92805’s Zillow ZORI stood at $2,778 in June 2026, down 0.4% from the same month a year earlier. This is a ZIP-level typical observed asking-rent index blended across rental types, not a rent quote for a particular available home. For wider context only, the citywide Anaheim rent index was $2,674, the countywide Orange County index was $3,186, and the Los Angeles-Long Beach-Anaheim metro index was $2,927. The five-digit ZIP label also matches a Census ZCTA; a ZCTA is a statistical area used for tabulation and is not identical to a USPS delivery ZIP.
The current annual decline breaks from the ZIP’s longer backward-looking asking-rent path: the exact same-month change was -0.4% over one year, while the annualized changes over three years and five years were 1.8% and 4.3%, respectively. Monthly ZORI changes annualize to 2.5% variability, which suggests the current index has moved relatively steadily rather than through large recurring swings. Its worst historical peak-to-trough decline was 2.0%, a modest setback that supports some confidence in the index as a snapshot but does not turn recent cooling into a forecast. The history has 98 observations with 100% coverage, and its transparent national momentum discovery rank was 2,219 among history-eligible ZIPs, where lower ranks place higher.
Different rent sources answer different questions. The matched Census ZCTA’s ACS 2024 five-year survey reported median gross rent of $2,175, making the current asking-rent index 27.7% higher. ACS describes occupied renter homes, includes selected utilities in gross rent, and is not a current listing survey. HUD’s FY2026 two-bedroom FMR/SAFMR standard was $3,070, above the ZIP’s ZORI. That HUD figure is an administrative, bedroom-specific standard rather than observed asking rent, so neither its relationship to ZORI nor the ACS gap should be read as proof of pricing for a specific unit.
The bedroom view is a set of modelled monthly ZIP estimates created by scaling ZIP ZORI through the local HUD ladder, not measured bedroom rents. The resulting ladder is $2,154 for a studio, $2,296 for one bedroom, $2,778 for two bedrooms, $3,654 for three bedrooms, and $4,228 for four bedrooms. The pattern is useful for sizing a ZORI-based screen across bedroom counts, but it cannot identify differences in condition, utility treatment, lease terms, concessions, building type, or the inventory actually offered at each size.
Using the ACS median household income of $91,252, annualized current asking rent equates to an asking-rent-to-income screen of 36.5%. A household would need $111,120 in annual income for the current index to equal 30% of income; that calculation is arithmetic only, not advice and not an applicant qualification rule. ACS also shows 52.4% of renter households carried gross-rent burdens at or above that threshold. The ZCTA housing stock contained 23,080 units, including 13,160 renter-occupied homes, and the areawide vacancy rate was 5.1%. These are survey measures of households and stock, not evidence that any particular unit is vacant or burdensome.
Broader comparison adds a second affordability and availability lens without replacing ZIP evidence. In citywide Anaheim context, the renter burden share was 60.5%, above the ZIP’s ZCTA result; in countywide Orange County context, it was 56.6%. The metro-level apartment vacancy rate was 5.4%, near the ZIP’s 5.1% all-housing vacancy measure, although the measures are not directly interchangeable because their coverage differs. Combined with the lower ZIP asking-rent index relative to the city, county, and metro context figures, these comparisons frame 92805 as less expensive in current index terms while still showing material survey-reported renter burden.
The direct rolling-three-month Redfin ZIP resale observation presents a different tension. Median sold price was $866,554, up 0.8% year over year, with 64 homes sold and a median 42 days on market. Active listings numbered 158, down 22.1% from a year earlier, while the inventory reading was 80 homes and months of supply was 3.8. Within that same for-sale universe, the average sale-to-list ratio was 100.55% and 40.4% of sold homes closed above list price. These resale signals challenge a simple interpretation of broad local weakening from the cooling rent index alone. The 3.85% annualized rent-price screening ratio is ZIP ZORI annualized and divided by median sold price; it is only a cross-source screen, not a cap rate, property yield, net return, or expected return.
The evidence is strongest as a comparison of current asking-rent conditions, occupied-household survey outcomes, administrative standards, and resale liquidity rather than as a property valuation. A reader evaluating an address should verify the exact bedroom count, advertised rent, included utilities, lease duration, concessions, availability date, property condition, and whether the home resembles the rental types represented in the index. For a sale-side comparison, confirm property type, sale date, list-price history, and whether a transaction belongs in the ZIP resale series. Those checks are necessary because the supplied measures describe separate universes that cannot establish economics or availability for one specific home.
","findings":[{"body":"ZIP ZORI declined 0.4% over the latest same-month year, while the trailing three-year and five-year annualized paths remained positive. Low annualized monthly variability and a relatively shallow historical drawdown make the index less erratic than a single change might imply. Still, the latest direction is a backward-looking cooling signal, not evidence of future rent movement.","title":"Recent rent cooling interrupts, but does not erase, the longer history"},{"body":"Current ZORI exceeds the matched ZCTA’s ACS median gross rent because the series measure different populations and concepts. ZORI is a typical observed asking-rent index across rental types, whereas ACS reflects occupied renter homes and selected utilities. HUD’s bedroom-specific FMR/SAFMR is an administrative standard, so it should not be substituted for either listing rent or an observed lease payment.","title":"The rent gap depends on the source universe"},{"body":"Annualized ZORI requires income above the reported median household income to fit a 30% arithmetic screen. Meanwhile, more than half of ACS renter households were reported as gross-rent burdened at that threshold. The ZCTA vacancy measure describes areawide housing stock and cannot demonstrate vacancy, rent burden, or affordability for a particular listed apartment or house.","title":"Income and burden screens show a meaningful affordability tension"},{"body":"Redfin’s direct ZIP resale data show a modest year-over-year rise in median sold price, reduced active listings, limited months of supply, and sale-to-list results above 100% on average. Those for-sale signals sit beside a slightly lower asking-rent index. The contrast is informative, but it does not establish a causal relationship between rental and resale conditions or indicate property-level investment performance.","title":"Resale conditions do not mirror the cooling rent index"}],"risks":["The Zillow index is blended across rental types and represents typical observed asking rents, so it may not match a specific building, lease term, utility package, concession structure, or available unit.","ACS ZCTA figures are five-year survey estimates for occupied households, with margins of error and timing differences that limit direct comparison with a current ZIP asking-rent index.","Bedroom figures are modelled by applying the local HUD ladder to ZORI. They are not measured asking rents and should not replace direct verification of current bedroom-specific listings.","Redfin resale metrics describe for-sale transactions over a rolling three-month ZIP observation. The rent-price screen excludes financing, expenses, taxes, repairs, vacancy, and property-specific transaction differences."],"qa":[{"a":"The five-digit 92805 label is both the Zillow ZIP market identifier used for ZORI and a matched Census ZCTA label used for ACS data. The match supports comparison, but a ZCTA is a Census statistical area and is not identical to a USPS delivery ZIP or a precise service boundary.","q":"Why do ZIP 92805 and the Census geography share the same label?"},{"a":"The figures have different universes. Zillow ZORI is a current typical observed asking-rent index blended across rental types. ACS median gross rent is a five-year survey estimate for occupied renter homes and includes selected utilities. The difference does not prove that any current listing is overpriced or that an occupied household pays the asking-rent index.","q":"Why is current Zillow rent higher than ACS median gross rent?"},{"a":"It is a mechanical calculation that annualizes the current ZIP asking-rent index and divides it by 30%. It indicates the income level at which that index equals that share of income. It is not financial advice, a household budget conclusion, a lending standard, or an applicant qualification rule.","q":"What does the 30% required-income figure mean?"},{"a":"No. The ratio only divides annualized ZIP ZORI by Redfin’s ZIP median sold price, combining separate rental and resale sources for screening. It does not include financing, operating costs, taxes, insurance, repairs, turnover, vacancy, property condition, or the actual rent and sale price of a particular home.","q":"Can the rent-price screening ratio be treated as a property return?"}],"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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