At June 2026, Zillow’s ZIP market identifier 11435, which also matches a Census ZCTA, recorded a $2,319 monthly ZORI. A ZCTA is a statistical area and is not identical to a USPS delivery ZIP. Zillow ZORI is a typical observed asking-rent index blended across rental types, rather than a lease-level median or a utility-inclusive household-cost measure. Same-month annualized ZORI change was 0.16% over one year, compared with 4.69% over three years and 5.37% over five years. Coverage reached 98.5%, so the history is broadly complete, but the very recent pace is substantially slower than the multi-year path.
The longer record calls for caution in treating the current asking-rent reading as a stable endpoint. Annualized monthly-return variability measured 4.2%, indicating that rent-index movements have not followed a smooth path from month to month. Separately, the worst peak-to-trough decline was 5.7%, evidence that the historical series experienced a meaningful reversal before recovering. Transparent national discovery ranks among history-eligible ZIPs were 1,440 for momentum, 2,677 for stability, and 2,308 for the balanced measure, where lower rank is stronger. Those backward-looking measures frame discovery rather than a forecast, investment view, or prediction of future rent direction.
The ACS and HUD figures answer different questions from ZORI. In the matched ACS 2024 five-year survey, median gross rent was $1,842, making the current asking-rent index 25.9% higher. ACS median gross rent describes occupied renter homes and includes selected utilities, so it should not be read as a current advertised-rent comparison. HUD’s FY2026 two-bedroom FMR/SAFMR standard was $2,616; ZORI sits 11.4% below that administrative benchmark, which is not asking rent. Scaling ZORI through the local HUD ladder produces modelled estimates of $1,682 for a studio, $1,951 for one bedroom, $2,319 for two bedrooms, $2,841 for three bedrooms, and $3,273 for four bedrooms. These are modelled estimates, never measured bedroom rents.
Income and household data create a separate affordability tension. Median household income in the ZCTA was $79,710, while annual income required to place the ZORI amount at the 30% screen was $92,760; the index therefore equals 34.9% of that median income on a simple annualized calculation. This required-income screen is arithmetic, not advice and not an applicant qualification rule. ACS reports that 53.6% of renter households paid at least 30% of income toward rent. Of 21,405 housing units, 64.0% of occupied homes were renter occupied, and 9,758 units were in large multifamily structures. The overall vacancy rate was 6.2%; that aggregate measure cannot establish availability, condition, or pricing for any particular unit.
Wider benchmarks emphasize how far the ZIP asking index sits below surrounding asking-rent contexts: the New York city context was $4,133, the Queens County context was $3,256, and the New York-Newark-Jersey City, NY-NJ-PA metro context was $3,573. These city, county, and metro figures are wider-area context only, not substitutes for ZIP-level rental observations. The ZCTA’s ACS gross-rent figure was also below the cited city and county survey contexts, while the local renter share exceeded the county context. Neither comparison resolves whether an advertised unit matches the ZIP index, because geography and source universe remain different.
Redfin supplies a direct rolling-three-month ZIP resale observation, not rental transactions or rental comparables. Its median sold price was $644,854, up 84.2% year over year, with 38 homes sold and a median 68 days on market. There were 144 active listings and inventory of 84 homes, alongside 6.7 months of supply. Sale-to-list indicators were more measured than the headline price change: average sale-to-list was 97.7%, and 24.4% of sales closed above list. Annualized ZIP ZORI divided by median sold price equals a 4.3% cross-source screening ratio only. It is not a cap rate, net return, expected return, or property yield.
The resale and rent evidence therefore pull in different directions. The exceptional observed resale-price change could appear to support a strong market reading, yet the nearly flat recent asking-rent change, the earlier drawdown, below-list average sale outcomes, and months of supply do not support a simple one-way interpretation. The resale figures describe homes that sold, while ZORI summarizes observed asking rents across rental types and ACS describes occupied renter households. High historical rent variability further reduces confidence that one current ZORI snapshot alone captures a durable local rent position. The affordability screen adds another restraint because it compares the asking index with area household income rather than a subject property’s tenant profile.
Several limits remain material. ZORI does not identify unit condition, lease concessions, utility treatment, building type, or whether a currently advertised home is comparable. ACS is a five-year survey with stated margins of error, and its burden and vacancy measures are area aggregates rather than evidence about a particular household or apartment. HUD standards are administrative benchmarks, while Redfin’s rolling resale measures cannot establish rental economics. A property-level review would need current comparable asking terms, bedroom configuration, included utilities, actual listing availability, lease conditions, sale comparables, and whether the subject’s physical characteristics match the evidence universe being used. Do the subject property’s current terms and matched resale evidence align with these ZIP-level screens?