Zillow Research housing indicators (ZHVI, ZORI, market, sales, affordability)

Monthly housing-market indicators (home values, rents, for-sale market, sales, affordability, forecasts) for country/state/county/metro/city geographies.

Publisher

Zillow Research open_in_new

License

Free for public use, with attribution to Zillow

Coverage

country 1 · state 51 · metro 872 · county 3074 · city 18062 · 2000–2027

Updates

Daily

Source & License

Publisher: Zillow Research, published monthly at zillow.com/research/data.
Use: Zillow's research indicators are free for public use, with attribution to Zillow.

Methodology & caveats

ZHVI (Zillow Home Value Index) measures the typical home value from the full distribution of homes (35th to 65th percentile), smoothed and seasonally adjusted, built on the Zestimate; it is compositionally controlled (the typical home, not the typical sale).
ZORI (Zillow Observed Rent Index) is a smoothed repeat-rent index of asking rents, weighted to the Census rental stock; it tracks the market-rate rent of units coming available, not what existing tenants pay.
These are index and median values: they describe a typical level, so they should never be summed or re-divided across places or homes.
Coverage varies by series and geography level; values are monthly.

Variables (30)

Variable	Coverage
For-sale inventory (homes on the market) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit count graph node	metro 872 · country 1 · 2018–2026
Forecast home value growth, next 12 months Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit percent graph node	metro 854 · country 1 · 2026–2027
Home sales count (nowcast) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit count graph node	metro 295 · country 1 · 2008–2026
Homeowner affordability (share of income to buy) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit percent graph node	metro 384 · country 1 · 2012–2026
Income needed to afford a typical home (20% down) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	metro 384 · country 1 · 2012–2026
Income needed to afford the typical rent Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	metro 386 · country 1 · 2015–2026
Market Heat Index (how hot the housing market is) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit index graph node	metro 872 · country 1 · 2018–2026
Mean days on market to pending Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit day graph node	metro 756 · country 1 · 2018–2026
Median list price of for-sale homes Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	metro 872 · country 1 · 2018–2026
Median sale price (nowcast) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	metro 764 · country 1 · 2018–2026
Multifamily and apartment rent only, metros (Zillow Observed Rent Index) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	metro 601 · country 1 · 2015–2026
New construction sales count Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit count graph node	metro 407 · country 1 · 2018–2026
New for-sale listings Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit count graph node	metro 871 · country 1 · 2018–2026
Newly pending listings Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit count graph node	metro 858 · country 1 · 2018–2026
Rent (all home types) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 4134 · county 1360 · metro 704 · country 1 · 2015–2026
Rent dollar index (ZORDI, metros only) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	metro 863 · country 1 · 2020–2026
Renter affordability (share of income for rent) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit percent graph node	metro 386 · country 1 · 2015–2026
Share of for-sale listings with a price cut Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit percent graph node	metro 872 · country 1 · 2018–2026
Single-family home rent only, metros (Zillow Observed Rent Index) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	metro 585 · country 1 · 2015–2026
Typical 1-bedroom home value Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 2322 · county 1482 · metro 643 · state 51 · country 1 · 2000–2026
Typical 2-bedroom home value Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 9776 · county 2531 · metro 815 · state 51 · country 1 · 2000–2026
Typical 3-bedroom home value Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 13397 · county 2802 · metro 847 · state 51 · country 1 · 2000–2026
Typical 4-bedroom home value Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 9398 · county 2519 · metro 820 · state 51 · country 1 · 2000–2026
Typical 5+ bedroom home value Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 4578 · county 1811 · metro 726 · state 51 · country 1 · 2000–2026
Typical condo / co-op value Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 3203 · county 1000 · metro 504 · state 51 · country 1 · 2000–2026
Typical home value Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 17949 · county 3071 · metro 854 · state 51 · country 1 · 2000–2026
Typical home value, bottom tier (5th-35th percentile) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 16843 · county 3000 · metro 851 · state 51 · country 1 · 2000–2026
Typical home value, top tier (65th-95th percentile) Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 18062 · county 3074 · metro 854 · state 51 · country 1 · 2000–2026
Typical single-family home value Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit usdollar graph node	city 17939 · county 3073 · metro 854 · state 51 · country 1 · 2000–2026
Years to save a 20% down payment Value of housing unit. Population housing unitMeasured valueStatistic measured valueUnit year graph node	metro 384 · country 1 · 2012–2026