This ZIP’s central tension is a still-rising asking-rent index alongside a softer reported resale price. Zillow ZORI for June 2026 is $1,700 per month, up 0.72% from a year earlier. It is Zillow’s ZIP-level typical observed asking-rent index, blended across rental types, rather than a lease quote or count of every available unit. In Redfin’s direct rolling-three-month ZIP resale observation, median sold price is $509,885, 1.95% below the prior-year reading. Those movements belong to separate markets, but together they do not support treating a modest asking-rent gain as simple confirmation of resale-price strength.
The backward-looking Zillow record has a stable-growth categorization, but its rates are uneven by horizon. Exact same-month annualized change is 0.72% over 1 year, 0.43% over 3 years, and 2.99% over 5 years. Thus, the latest positive direction confirms the longer path’s positive sign, while breaking from the stronger five-year pace. Annualized monthly-return variability comes to 2.61%, so a single current reading should not be treated as motionless. Separately, maximum drawdown reaches 6.13%, evidence of a real past retreat. Coverage is 100% across 115 monthly observations. Transparent national discovery ranks are 2,199 for momentum, 902 for stability, and 1,822 for the balanced measure; lower ranks place higher, and none of these backward-looking measures is a forecast or investment recommendation.
The five-digit label 98682 is both Zillow’s ZIP market identifier and the matched Census ZCTA label. A ZCTA is a statistical area; it is not identical to a USPS delivery ZIP. In the 2024 ACS 5-year survey, median gross rent is $1,845, 7.9% above the Zillow index. ACS describes occupied renter homes and includes selected utilities, with survey uncertainty. HUD’s FY2026 two-bedroom FMR/SAFMR standard is $1,922, placing the ZIP ZORI 11.6% below it. That HUD amount is an administrative, bedroom-specific standard rather than asking rent, so neither the ACS median nor HUD standard is a substitute for a current advertised rent.
Bedroom detail is intentionally model-based, not observed. Scaling ZIP ZORI with the local HUD ladder produces modelled monthly estimates of $1,389 for a studio, $1,483 for one bedroom, the ZIP anchor for two bedrooms, $2,316 for three bedrooms, and $2,750 for four bedrooms. The ladder supplies relative bedroom scaling, while ZORI supplies the ZIP anchor. These are modelled estimates, never measured bedroom rents: they do not establish asking rents, concessions, utilities, condition, or availability for a specific layout or property.
Income arithmetic presents a second tension. Applying a 30% share to the index yields $68,000 in annual required income, compared with a matched-ZCTA ACS median household income of $99,918; the asking-rent-to-income calculation is 20.4%. Yet ACS reports 3,544 of 7,070 renter households at or above that burden threshold, or 50.1%. This does not contradict the arithmetic: household income medians and occupied renter-household burden describe different distributions. The required-income screen is arithmetic only, not advice, a budget judgment, an applicant qualification rule, or proof that a particular household can afford a particular unit.
Housing-stock data gives context rather than a unit-level availability signal. The matched ZCTA reports 24,520 housing units, including 634 vacant units, for a 2.6% vacancy rate; renter occupancy represents 29.6% of occupied homes. Its structure tabulation includes 19,172 single-family units, demonstrating that the stock total spans more than apartments. This Census vacancy measure is not a current apartment-vacancy count, and a vacant-for-rent category does not establish the rent, condition, utility package, or actual availability of any individual home.
Broader rent context places the ZIP below each named comparison area. The City of Vancouver context rent is $1,817.54, Clark County context rent is $1,874, and Portland-Vancouver-Hillsboro, OR-WA metro context rent is $1,805; all three are wider geographic contexts, not ZIP estimates. Their values provide scale for the local index but cannot verify an individual rental quote or be blended with the matched-ZCTA survey into a property-specific conclusion. Scope matters because the ZIP asking-rent index, ZCTA household survey, county context, city context, and metro context measure different evidence universes.
For a direct ZIP resale-liquidity read, Redfin’s rolling-three-month observation records 243 homes sold, a median 25 days on market, 2.7 months of supply, and an average sale-to-list result of 99.99%; active listings and inventory rose from a year earlier. These are for-sale signals, not rental transactions. The resale price decline and inventory change challenge any simple reading of positive rent history or the arithmetic income screen as support for resale pricing. Annualized ZIP ZORI divided by median sold price is a 4.00% cross-source screening ratio only, not a cap rate, net return, expected return, or property yield. Concrete property-level checks consist of the current advertised rent, bedroom configuration, utilities and fees, lease terms, and unit availability; for-sale checks include property-specific price and listing history, while ZIP resale data cannot become rental comps.
","findings":[{"body":"Zillow’s June 2026 ZIP ZORI is $1,700 and the exact one-year history change is 0.72%. The same index rose at a 0.43% annualized rate across three years and 2.99% across five. That pattern records continuing growth but a materially slower current pace than the longer record. It supports a cautious reading of today’s asking-rent snapshot rather than a directional projection.","title":"Rent signal is positive but slower than the longer record"},{"body":"The matched Census ZCTA ACS median gross rent is $1,845, while ZORI is $1,700. ACS is a five-year survey of occupied renter homes and includes selected utilities; ZORI is a blended asking-rent index. HUD’s two-bedroom $1,922 standard is administrative, bedroom-specific, and not an asking rent. Their differences are definitional as well as numerical, so they cannot function as interchangeable rent comps.","title":"Survey, asking-rent, and HUD figures are not interchangeable"},{"body":"The $68,000 30% screen is simple annual arithmetic using the ZIP ZORI, not a household budget test. The ACS median household income is $99,918, yet 50.1% of reported renter households have rent burdens at or above 30%. This contrast shows why area medians cannot establish the payment experience of a specific household, lease, or vacant unit.","title":"Income screen and reported burden point to different distributions"},{"body":"Redfin records a ZIP for-sale market, not a rental market. Its rolling-three-month evidence pairs a $509,885 median sold price, down 1.95%, with 243 sold homes, 2.7 months of supply, and near-list sale pricing. The price movement and growing inventory complicate a simple rent-strength narrative, even as sales activity is recorded. The 4.00% rent-to-price result remains a cross-source screen only.","title":"Resale evidence tempers the rent snapshot"}],"risks":["ZORI is a blended, typical asking-rent index and can differ from a unit’s offered rent because rental type, concessions, utility treatment, and lease terms are not identified.","The matched ZCTA ACS survey describes a statistical area rather than an identical USPS ZIP and carries sampling uncertainty; its renter, income, burden, and vacancy figures cannot identify an individual address.","Full historical coverage improves continuity, but the observed drawdown and return variation show past index movement; the discovery rankings are not forecasts and do not establish future rents.","Redfin’s rolling-three-month ZIP resale measures document for-sale transactions and listings. They cannot establish rental demand, property operating costs, or the resale outcome of a particular home."],"qa":[{"a":"Zillow ZORI is a ZIP-level typical observed asking-rent index blended across rental types. The ACS figure is a matched-ZCTA five-year survey median for occupied renter homes that includes selected utilities. The ZCTA is statistical, not the same as a USPS delivery ZIP, so differences arise from scope and definition; neither series is a unit quote.","q":"Why are Zillow ZORI and ACS gross rent different?"},{"a":"No. The studio-through-four-bedroom values are modelled monthly estimates created by scaling the ZIP ZORI with the local HUD bedroom ladder. HUD values are administrative standards; they do not report transactions or advertised rents. The estimates preserve relative HUD bedroom scaling but cannot confirm a bedroom-specific rent for a given building, date, or lease.","q":"Are the bedroom estimates observed rents?"},{"a":"No. The $68,000 figure applies a 30% rent-to-income arithmetic screen to an annualized index amount. It is not advice, an affordability finding, an applicant qualification rule, or evidence that any household can pay a specific rent. The separate ACS burden result is a survey statistic about occupied renter households, not proof about a particular unit.","q":"Does the required-income figure prove affordability?"},{"a":"Redfin’s data is a direct rolling-three-month ZIP resale observation. It can describe sold prices, selling pace, supply, active listings, and sale-to-list behavior in the for-sale universe. It does not report rental transactions, net operating costs, or property-level economics. Dividing annualized ZORI by median sold price creates only a cross-source screening ratio.","q":"What does the Redfin block demonstrate?"}],"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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2026-06","pulledAt":"2026-08-08","url":"https://www.zillow.com/research/data/"}],"history":[{"period":"2016-12-01","rent":1128.760234},{"period":"2017-01-01","rent":1127.519872},{"period":"2017-02-01","rent":1123.063951},{"period":"2017-03-01","rent":1117.43237},{"period":"2017-04-01","rent":1126.650386},{"period":"2017-05-01","rent":1139.691345},{"period":"2017-06-01","rent":1142.565638},{"period":"2017-07-01","rent":1139.901411},{"period":"2017-08-01","rent":1155.487223},{"period":"2017-09-01","rent":1164.867783},{"period":"2017-10-01","rent":1175.679244},{"period":"2017-11-01","rent":1172.600037},{"period":"2017-12-01","rent":1182.533006},{"period":"2018-01-01","rent":1186.188189},{"period":"2018-02-01","rent":1188.415737},{"period":"2018-03-01","rent":1176.193636},{"period":"2018-04-01","rent":1187.424855},{"period":"2018-05-01","rent":1192.42051},{"period":"2018-06-01","rent":1197.206904},{"period":"2018-07-01","rent":1201.480886},{"period":"2018-08-01","rent":1208.639262},{"period":"2018-09-01","rent":1222.339783},{"period":"2018-10-01","rent":1219.206708},{"period":"2018-11-01","rent":1217.77641},{"period":"2018-12-01","rent":1217.689162},{"period":"2019-01-01","rent":1228.081737},{"period":"2019-02-01","rent":1237.599998},{"period":"2019-03-01","rent":1255.454345},{"period":"2019-04-01","rent":1252.034498},{"period":"2019-05-01","rent":1250.685688},{"period":"2019-06-01","rent":1254.243353},{"period":"2019-07-01","rent":1261.271123},{"period":"2019-08-01","rent":1257.122446},{"period":"2019-09-01","rent":1249.991026},{"period":"2019-10-01","rent":1253.72523},{"period":"2019-11-01","rent":1261.239265},{"period":"2019-12-01","rent":1259.797695},{"period":"2020-01-01","rent":1256.630783},{"period":"2020-02-01","rent":1254.629802},{"period":"2020-03-01","rent":1276.878843},{"period":"2020-04-01","rent":1269.702552},{"period":"2020-05-01","rent":1273.044891},{"period":"2020-06-01","rent":1270.061389},{"period":"2020-07-01","rent":1285.098595},{"period":"2020-08-01","rent":1293.680924},{"period":"2020-09-01","rent":1313.110486},{"period":"2020-10-01","rent":1327.87236},{"period":"2020-11-01","rent":1344.453257},{"period":"2020-12-01","rent":1352.792815},{"period":"2021-01-01","rent":1361.811264},{"period":"2021-02-01","rent":1372.815843},{"period":"2021-03-01","rent":1384.253673},{"period":"2021-04-01","rent":1409.133615},{"period":"2021-05-01","rent":1428.963868},{"period":"2021-06-01","rent":1466.973119},{"period":"2021-07-01","rent":1492.692603},{"period":"2021-08-01","rent":1513.259413},{"period":"2021-09-01","rent":1516.581018},{"period":"2021-10-01","rent":1519.393939},{"period":"2021-11-01","rent":1545.135366},{"period":"2021-12-01","rent":1569.198719},{"period":"2022-01-01","rent":1592.777457},{"period":"2022-02-01","rent":1589.370645},{"period":"2022-03-01","rent":1594.919966},{"period":"2022-04-01","rent":1609.739972},{"period":"2022-05-01","rent":1630.146764},{"period":"2022-06-01","rent":1644.964517},{"period":"2022-07-01","rent":1665.15466},{"period":"2022-08-01","rent":1679.088104},{"period":"2022-09-01","rent":1691.141714},{"period":"2022-10-01","rent":1693.678041},{"period":"2022-11-01","rent":1686.571085},{"period":"2022-12-01","rent":1691.816608},{"period":"2023-01-01","rent":1694.573577},{"period":"2023-02-01","rent":1716.100253},{"period":"2023-03-01","rent":1713.747333},{"period":"2023-04-01","rent":1706.112741},{"period":"2023-05-01","rent":1697.475307},{"period":"2023-06-01","rent":1678.459619},{"period":"2023-07-01","rent":1644.18845},{"period":"2023-08-01","rent":1637.520542},{"period":"2023-09-01","rent":1635.569637},{"period":"2023-10-01","rent":1650.732265},{"period":"2023-11-01","rent":1634.982276},{"period":"2023-12-01","rent":1631.798112},{"period":"2024-01-01","rent":1615.481994},{"period":"2024-02-01","rent":1610.844079},{"period":"2024-03-01","rent":1627.058696},{"period":"2024-04-01","rent":1645.984004},{"period":"2024-05-01","rent":1657.520755},{"period":"2024-06-01","rent":1660.214722},{"period":"2024-07-01","rent":1661.082571},{"period":"2024-08-01","rent":1653.416264},{"period":"2024-09-01","rent":1662.093705},{"period":"2024-10-01","rent":1665.491755},{"period":"2024-11-01","rent":1683.962125},{"period":"2024-12-01","rent":1674.714354},{"period":"2025-01-01","rent":1689.459677},{"period":"2025-02-01","rent":1695.672442},{"period":"2025-03-01","rent":1696.257839},{"period":"2025-04-01","rent":1695.373071},{"period":"2025-05-01","rent":1684.938127},{"period":"2025-06-01","rent":1687.880529},{"period":"2025-07-01","rent":1703.838576},{"period":"2025-08-01","rent":1714.507107},{"period":"2025-09-01","rent":1710.808859},{"period":"2025-10-01","rent":1704.208202},{"period":"2025-11-01","rent":1701.658373},{"period":"2025-12-01","rent":1711.480741},{"period":"2026-01-01","rent":1709.578826},{"period":"2026-02-01","rent":1705.521214},{"period":"2026-03-01","rent":1699.594815},{"period":"2026-04-01","rent":1694.178914},{"period":"2026-05-01","rent":1699.18878},{"period":"202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