ZIP 95624’s Zillow ZORI, a typical observed asking-rent index blended across rental types, stood at $2,682 per month at the June 2026 endpoint, up 1.95% from the same month a year earlier. The rent path remains upward over longer windows: exact same-month annualized changes were 2.21% across 3 years and 3.66% across 5 years. The latest one-year gain therefore confirms the broader upward direction but is slower than the longer-run pace, indicating deceleration rather than a demonstrated reversal. Monthly changes annualized to 3.58%, which places this ZIP in the supplied high-variability category. Separately, the historical maximum drawdown was 3.16%, so a single current index reading deserves moderate rather than absolute confidence. History coverage was 98.4%. Transparent national discovery ranks were 1,469 for momentum, 2,317 for stability, and 2,108 for the balanced measure; lower ranks are higher, but these are discovery tools rather than performance grades, forecasts, or investment recommendations.
Several rent measures answer different questions and should not be substituted for one another. The matched Census ZCTA’s ACS 2024 median gross rent was $2,039, making Zillow’s current asking-rent index 31.5% higher. ACS is a five-year survey of occupied renter homes, and gross rent includes selected utilities, whereas ZORI is an asking-rent index rather than a survey of occupied leases. The Census ZCTA is a statistical area matched to this ZIP label; it is not identical to a USPS delivery ZIP. HUD’s two-bedroom FMR/SAFMR standard was $2,510, and the current ZIP ZORI was 6.9% above it. That HUD figure is an administrative, bedroom-specific standard, not an asking-rent observation or a measurement of a particular available home.
The bedroom view is deliberately modelled rather than observed. Scaling ZIP ZORI through the local HUD bedroom ladder produces monthly modelled estimates of $2,084 for a studio, $2,180 for one bedroom, $2,682 for two bedrooms, $3,569 for three bedrooms, and $4,114 for four bedrooms. The model preserves the local HUD ladder’s relative bedroom differences while anchoring the result to the ZIP-level ZORI. These figures are modelled estimates, never measured bedroom rents, and they do not establish what any individual unit is listed for. Lease term, included utilities, condition, concessions, and the actual bedroom count can all make a specific asking price diverge from this scaled ladder.
At the current asking-rent index, the arithmetic income screen at 30% of gross income is $107,280 annually. That benchmark is below the matched ZCTA’s $125,332 median household income, but a median is not an applicant income, a renter-only income measure, or evidence about affordability for a particular household. This 30% screen is arithmetic, not advice and not an applicant qualification rule. The ACS burden measure provides a separate occupied-renter lens: 2,206 of 4,641 renter households, or 47.5%, reported paying at least that share of income toward gross rent. Burden is therefore substantial in the surveyed renter population even though the ZIP-level asking-rent screen sits below the area’s household-income median.
The matched ZCTA contained 20,827 housing units, with 390 recorded as vacant, for a 1.9% vacancy rate. Renter households accounted for 22.7% of occupied homes, while the housing stock was predominantly single-family and had comparatively limited large-multifamily inventory. Those occupancy and stock measures describe the ACS survey geography and its classifications, not a live count of listings. In particular, vacancy is not proof that a particular unit is rentable, vacant-for-rent, priced at ZORI, or immediately available. The relatively small renter share also means that broad household measures and renter-specific measures require separate interpretation rather than being treated as interchangeable indicators.
For wider context only, Elk Grove city’s asking-rent measure was $2,688, Sacramento County’s asking-rent measure was $2,197, and the Sacramento-Roseville-Folsom, CA metro asking-rent measure was $2,308. The ZIP index was thus close to the city-scope reading and above both the county-scope and metro-scope readings. These city, county, and metro values are contextual comparisons rather than evidence about transactions or conditions inside ZIP 95624. They also do not reconcile the source-universe difference between current asking-rent measures and the ACS gross-rent survey of occupied renter homes.
The direct rolling-three-month Redfin ZIP resale observation belongs wholly to the for-sale market, not rental transactions. It reported a $624,303 median sold price, down 6.4% year over year, alongside 117 homes sold and a 14-day median marketing time. Inventory was 97 homes and months of supply were 2.5. Sale-to-list signals remained firm: the average sale-to-list ratio was 100.3%, 45.7% of sales closed above list, and 50.5% went off market within two weeks. This creates a useful tension: asking rents remained modestly positive while the median resale price declined, yet resale turnover and list-price signals still indicate active direct ZIP liquidity. Annualized ZIP ZORI divided by median sold price is only a cross-source screening ratio, not a cap rate, net return, expected return, or property yield.
The evidence has material limits. ZORI is an index rather than a lease ledger, ACS estimates are survey-based ZCTA aggregates, HUD standards are administrative benchmarks, and Redfin summarizes completed ZIP resale activity rather than rental economics. None can identify the rent, vacancy, burden, utility treatment, condition, or market time of a particular home. Useful property-level checks include the actual advertised rent and lease term, bedroom configuration, included utilities and concessions, listing availability, building type and condition, and, for a sale comparison, the closing date, list-price history, and property characteristics. Which unit-specific facts would materially change the comparison between the index, the modelled bedroom ladder, and the resale aggregate?
","findings":[{"body":"The current ZIP asking-rent index rose from the same month a year earlier and remains consistent with positive three-year and five-year history. However, the latest annual change is below the longer-run annualized rates. That pattern supports an interpretation of slower recent growth, not evidence that the prior upward path has ended. High variability and the recorded drawdown both limit confidence in any single current reading.","title":"Rent growth remains positive but has slowed"},{"body":"Zillow ZORI is a blended asking-rent index, ACS median gross rent summarizes occupied renter homes and selected utilities, and HUD FMR/SAFMR is a bedroom-specific administrative standard. The gaps among these figures are therefore not direct contradictions. They reflect different universes, timing, and construction. The matched ZCTA is statistical geography, not the same thing as a USPS delivery ZIP.","title":"Asking rent, occupied rent, and HUD standards diverge by design"},{"body":"The arithmetic income amount implied by the current ZIP index is below the area median household income, but that comparison cannot identify an individual household’s ability to pay. At the same time, the ACS renter-burden share shows that a substantial portion of occupied renter households reported gross-rent burdens at or above the threshold. The two measures are complementary, not interchangeable.","title":"Income screen and renter burden point to different population views"},{"body":"The direct ZIP resale observation showed a year-over-year decline in median sold price while rent history remained positive. Yet the same resale block also showed short marketing time, limited supply, sales above list, and a meaningful share of homes leaving the market quickly. This combination challenges any simple claim that rising asking rents alone establish for-sale strength or that a lower sale price alone establishes weak resale liquidity.","title":"Resale evidence complicates the rent signal"}],"risks":["Zillow asking-rent index data, ACS gross-rent survey data, and HUD bedroom standards use different populations and methods. Comparing them as if they were interchangeable unit-level rents can create a false affordability or pricing conclusion.","The historical series is backward-looking and classified as high variability. Positive longer-term rent changes do not remove the significance of the recorded drawdown or establish that the latest asking-rent reading will persist.","ZCTA housing, vacancy, renter-share, and burden figures are aggregate survey measures with geographic and sampling limits. They cannot prove that a specific home is available, vacant, affordable, or occupied by a burdened renter.","Redfin’s ZIP resale metrics describe completed for-sale activity over a rolling period, not rental transactions or property economics. The annualized-rent-to-price calculation is only a cross-source screen and omits property-specific costs and terms."],"qa":[{"a":"The measures cover different universes. Zillow ZORI is a typical observed asking-rent index blended across rental types, while ACS median gross rent is a multiyear survey estimate for occupied renter homes and includes selected utilities. Differences can therefore arise from asking versus occupied rents, survey timing, utility treatment, and the ZCTA’s statistical geography.","q":"Why is the Zillow asking-rent figure higher than the ACS median gross-rent figure?"},{"a":"No. The studio-through-four-bedroom figures are modelled monthly estimates created by scaling the ZIP ZORI through the local HUD bedroom ladder. They are useful for showing the relative bedroom structure implied by the supplied sources, but they are not measured listings, executed leases, or evidence that a specific unit can be rented at that amount.","q":"Are the bedroom rents in the report observed market rents?"},{"a":"No. The screen is a mathematical conversion of the ZIP asking-rent index into an annual gross-income benchmark using a thirty-percent share. It is not advice, a qualification rule, a household budget, or a finding about any applicant. ACS burden data remains a separate survey measure of occupied renter households.","q":"Does the 30% required-income screen determine whether a renter qualifies?"},{"a":"It adds a separate, direct ZIP for-sale observation: median sold price, price movement, transaction count, market time, inventory, supply, and sale-to-list behavior. Those metrics help identify whether resale signals align with or challenge the rent picture, but they do not convert into rental comps. The supplied rent-to-price calculation remains a screening ratio rather than a property return measure.","q":"What does the resale block add to the rental analysis?"}],"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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