At June 2026, this Zillow ZIP market has a Zillow Observed Rent Index, or ZORI, of $2,699 per month. ZORI is a typical observed asking-rent index blended across rental types, not a count of signed leases or a single-property quote. The direct rolling-three-month Redfin ZIP resale observation puts the median sold price at $646,854, a 1.09% year-over-year change. Annualized ZIP ZORI divided by that median sold price is 5.01%, solely a cross-source screening ratio. It pairs a rent index with resale prices and does not describe operating costs, a particular home, or a property-level outcome.
The backward-looking ZORI history supplies a notably stronger movement signal than the contemporaneous sale-price change. Exact same-month change was 5.28% over one year, compared with annualized 3.17% over three years and 4.70% over five years. The latest pace therefore confirms the longer upward path and is faster than both multi-year measures; it does not forecast a continuation. Annualized monthly-return variability was 2.13%, and the maximum peak-to-trough drawdown was 1.42%, with 100% coverage. Transparent national discovery ranks were 575 for momentum, 224 for stability, and 93 for the balanced score among history-eligible ZIPs, where lower is higher. The low recorded variability lends more historical continuity to a current index snapshot than a jagged series would, but cannot turn one asking-rent reading into a guarantee.
The matched Census ZCTA record is deliberately a different evidence universe. The five-digit 80109 label is both Zillow’s ZIP market identifier and a Census ZCTA match; a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. In the ACS 2024 five-year survey, occupied renter homes had a median gross rent of $2,304. That measure includes selected utilities, whereas ZORI represents typical observed asking rent, and the current index is 17.14% higher. The gap is a scope and timing comparison, not evidence that any available rental commands the index or that a surveyed household would face a new asking rent.
The bedroom view is modelled rather than measured. Scaling ZIP ZORI through the supplied local HUD ladder produces monthly modelled estimates of $2,123 for a studio, $2,266 for one bedroom, $2,699 for two bedrooms, $3,532 for three bedrooms, and $3,939 for four bedrooms. The fiscal-year 2026 local HUD FMR/SAFMR ladder is an administrative, bedroom-specific standard rather than asking rent; its two-bedroom standard is $2,089. These figures provide proportional brackets around the ZIP index only. They are not observed bedroom rents, lease offers, or proof that every property of a given bedroom count fits the modelled level.
Affordability screen and burden data also need separate readings. The matched ZCTA ACS median household income is $155,025. Applying a 30% share to the current monthly ZORI produces a required annual income of $107,960; this is arithmetic, not advice and not an applicant qualification rule. The index-to-income screen is 20.89%. Separately, ACS reports 1,091 renter households, or 60.41% of the renter population, with gross-rent burden at or above that threshold. The burden estimate summarizes surveyed occupied renter households, while the threshold uses the current asking-rent index. Neither result can establish the finances of a particular renter, the terms of a prospective lease, or affordability of a specific unit.
Housing stock describes the ZCTA aggregate, not an availability feed. ACS records 9,873 housing units and a 1.47% vacancy rate. Of the recorded stock, 8,695 units are single-family and 459 are large multifamily. That aggregate combination says neither that a particular unit is vacant nor that its terms match ZORI. For broader rental context only, the ZIP index is 8.24% above the Castle Rock city context rent measure, 17.04% above the Douglas County county context rent measure, and 39.84% above the Denver-Aurora-Lakewood, CO metro context rent measure. City, county, and metro figures are wider-scope contextual comparisons, not ZIP substitutes.
Resale liquidity must stay inside Redfin’s direct rolling-three-month ZIP for-sale observation. Redfin recorded 169 homes sold, a median 22 days on market, 146 homes of inventory, and 2.6 months of supply. Its sale-to-list signals were a 99.26% average sale-to-list ratio and a 19.53% share sold above list. These are resale transaction and listing signals, not rental transactions, rental comparables, or property economics. They show observable resale activity alongside the modest price change stated above, while the rent index’s stronger latest annual movement creates a tension with any simple rent-versus-price reading. The screening ratio cannot resolve that tension because it omits property-specific expenses, financing, condition, and transaction differences.
Important limits remain even when each source is used as intended. ZORI blends rental types into an asking-rent index; ACS is a five-year ZCTA survey with sampling uncertainty; the HUD ladder is an administrative standard; and Redfin is a rolling resale observation. Their differing populations, construction methods, and reference periods prevent a direct unit-for-unit comparison. Concrete property-level checks can document the address’s market match, bedroom count, current advertised terms, included utilities, lease concessions, size, condition, and availability before comparing a listing with a modelled bracket. A purchase review can separately verify the actual sale, list chronology, and relevant property facts rather than extend ZIP resale medians to one home. Which documented current lease and direct-sale facts remain after these evidence universes are kept separate?