ZIP 68164 is both a Zillow ZIP market identifier and a matched Census ZCTA; a ZCTA is a statistical area, not the same thing as a USPS delivery ZIP. The latest Zillow ZORI is $1,336 per month, a typical observed asking-rent index blended across rental types. Its clearest current tension is with the direct ZIP resale record: Redfin’s rolling three-month for-sale observation reports a $305,551 median sold price, up 6.1% year over year. Annualized ZIP ZORI divided by that sale price is 5.25%, but that is only a cross-source screening ratio, not a cap rate, net return, expected return, or property yield. The contrast is modest asking-rent movement alongside a firmer reported resale-price change.
Resale liquidity appears tight within Redfin’s for-sale universe, not the rental market. The direct rolling three-month ZIP observation recorded 97 homes sold and a median 12 days on market. Inventory stood at 26 homes and months of supply at 0.8, while the average sale-to-list ratio was 102.5% and 66.0% of sales closed above list. These measures describe sold homes, listings, and buyer-seller conditions rather than lease transactions or rental comparables. They reinforce the resale side of the tension: the sale market signals quick turnover and above-list outcomes even as the current asking-rent index and its recent history show comparatively measured movement.
The Zillow ZIP rent history supports a stable-growth rather than acceleration reading. Exact same-month changes annualize to 1.49% over one year, 1.45% over three years, and 4.59% over five years. Thus, the recent path continues the longer upward direction, but it runs materially slower than the five-year pace and therefore breaks from that earlier rate of growth. A 2.89% annualized monthly-return variability reading suggests the observed index has moved within a relatively contained range; the maximum drawdown of -3.21% still shows that a current snapshot can reverse. Complete historical coverage underlies the record. National discovery ranks are 1,771 for momentum, 1,427 for stability, and 1,807 for the balanced score; these are transparent comparison ranks, not forecasts or investment recommendations.
Source differences matter before treating any rent figure as interchangeable. Zillow’s $1,336 ZORI is an asking-rent index, whereas the matched Census ZCTA reports a $1,288 median gross rent from its five-year survey of occupied renter homes; ACS gross rent includes selected utilities and is not a current advertised-rent measure. For wider context only, Omaha city’s asking-rent context is $1,453.48, Douglas County’s is $1,448, and the Omaha-Council Bluffs, NE-IA metro context is $1,444. The ZIP therefore sits below each named broader-scope asking-rent comparator, but those city, county, and metro figures should not be substituted for conditions inside the ZIP.
The bedroom series is a set of modelled monthly ZIP estimates, not measured bedroom rents. It scales ZIP ZORI by the supplied local HUD bedroom ladder, producing estimates of $1,062 for a studio, $1,122 for a one-bedroom, $1,336 for a two-bedroom, $1,773 for a three-bedroom, and $1,995 for a four-bedroom. HUD’s two-bedroom FMR/SAFMR standard is $1,560. That HUD value is an administrative, bedroom-specific standard rather than an asking-rent observation, so it should not be read as a lease quote or a rent comp. The ladder is useful for sizing a ZIP-level index across bedroom categories, with uncertainty around any individual property remaining substantial.
Income and burden data give the rent screen an important household context. The ZCTA’s median household income is $88,927 with a $3,761 margin of error. At a 30% rent-to-income screen, $1,336 monthly rent arithmetically corresponds to $53,440 in annual income, and current asking rent equals 18.0% of the reported median household income. This is arithmetic only, not advice and not an applicant qualification rule. ACS nonetheless reports 1,987 renter households spending 30% or more of income on gross rent, equal to 49.5% of renter households. That burden share should not be used to infer any household’s circumstances. For broader context only, Omaha city’s burden share is 50.0%, while the metro asking-rent-to-income context is 20.42%.
The matched ZCTA contains 12,694 housing units, with a 5.8% overall vacancy rate and 352 vacant units classified as for rent. Renters occupy 33.6% of occupied homes. Single-family homes outnumber large multifamily structures in the housing stock, which is relevant to the mix represented by a blended rent index but does not identify the type of a particular listing. The vacant-for-rent count and overall vacancy rate are area-level ACS measures, not evidence that a specific unit is available, competitively priced, or likely to lease. Likewise, household burden data cannot prove affordability for an individual renter or unit.
The evidence is useful as a bounded ZIP screen, but its windows and definitions differ. Zillow measures a blended asking-rent index; ACS describes occupied renter households over a survey period; HUD supplies administrative bedroom standards; and Redfin reports direct for-sale activity. None establishes property condition, exact bedroom configuration, lease concessions, utility treatment, or a unit-level sale-rent relationship. Property-level review should verify the advertised rent, included utilities, bedroom count, lease term, concessions, and the relevant sold-home record’s date, list price, and property characteristics. The central check is whether those unit-specific facts align with the ZIP’s measured rent history, modelled bedroom ladder, household screen, and separate resale evidence.