Zillow Statistics 2024: Users, Revenue & Market Share

Zillow, the most popular real estate website of 2024, is a real estate marketplace that provides data and insights on the housing market.

We will be sharing some Zillow statistics you can use as a valuable resource for homeowners, renters, and real estate professionals.

Zillow as a real estate platform was established in 2006. Its headquarters is in Seattle, Washington.

Zillow’s site hosts more than 100 million active listings and boasts more than 30 million monthly users.

This company strives to provide its users with the most recent data regarding the housing market. 

We’ll be covering statistics about home values in the United States, how home values change, where the least and most expensive places are to buy a home, and some rental trends.

We plan to give you some tips for making better decisions when choosing housing.

Even if you already use Zillow, you can gain insights into the platform you may not know.

Key Statistics

• Zillow is the most popular real estate site in the United States.
• In 2022, Zillow generated $1.9 billion in revenue.
• In 2022, Zillow lost $101 million after expenses, leaving them unprofitable.
• Zillow publishes 104 million Zestimates out of the 110 million homes database.
• Zillow discovered almost 2 million renters couldn’t afford to buy homes in metro areas.
• Zillow employs 5,900 people.
• Out of all Zillow site visitors, almost 41% plan to buy a home within 12 months.
• In 2021, 4.1 million homebuyers shopped Zillow.
• Experts at Zillow forecast that home values will increase by 3.9% over 2023. 
• In 2022, 93.9% of Zillow’s revenue came from the Internet, Media, and Technology, or IMT segment.

Zillow Statistics in 2024 

1. Zillow Is the Most Popular Real Estate Site in The United States.

We know that Zillow has around 30 million monthly users, but the site also receives around 60 million visits each month.

Throughout 2022, Zillow maintained its “most popular” status among real estate websites in the United States.

Realtor.com and Trulia weren’t too far behind with 40 million visitors and 21 million visitors per month respectively.

(Statista)

2. In 2022, Zillow Generated $1.9 Billion in Revenue.

In 2021, Zillow generated $2.1 billion in revenue. Therefore, there was a drop in its revenue in 2022 at $1.9 billion.

The drop in revenue occurred after closing the “Zillow Offers”, a program used to make quick cash offers on houses to sell them to someone else.

In November 2021, Zillow announced they would stop making offers on houses.

In the first quarter of 2023, Zillow reported generating $469 million.

(Business of Apps, ZillowGroup)

3. In 2022, zillow Lost $101 Million After Expenses, Leaving Them Unprofitable.

Even though Zillow generated $1.9 billion in revenue in 2022, this figure didn’t put them in profit.

In fact, due to expenses, Zillow lost $101 million in 2022.

That $101 million loss may be due to the closure of Zillow Offers.

This may be an isolated thing. They may be back in profit in the next couple of years.

(Ruby Home)

4. Zillow Publishes 104 Million Zestimates out Of the 110 Million Database of U.S. Homes.

According to Zillow’s Zestimate page, they have 110 million homes in their database for the United States. Out of this database, they have 104 million Zestimates published for their listings.

For reference, Zestimate is Zillow’s valuation model that offers an estimate of a home’s market value.

It takes several factors into consideration before publishing Zestimates.

Zestimates are NOT an appraisal and cannot be used as one.

(Zillow Zestimate)

5. Zillow Discovered that Almost 2 Million Renters Couldn’t Afford to Buy Homes in Metro Areas. 

Zillow and the United States Census Bureau partnered in 2021 to uncover how the pandemic impacted the housing market.

One thing they discovered is that renters in metro areas weren’t able to afford to buy a home.

However, they could buy a home beyond the metro areas.

Because so many of them worked from home, they had no commute, which opened another door to home ownership.

(U.S. Census Bureau)

6. Zillow Employs 5,900 People.

Zillow currently has one office, which is at its headquarters in Seattle, Washington. Early during the pandemic, Zillow relied on the work-from-home model.

Almost 90% of Zillow’s employees either work remotely or as a hybrid employee.

In total, Zillow has 5,900 employees working at the home office or at home.

(ZillowGroup)

7. Out Of All Zillow Site Visitors, Almost 41% Plan to Buy a Home Within 12 Months.

According to the Zillow site, almost 41% of people who visited Zillow or Trulia over the last year (12 months) are planning to buy or sell a home within the next year (12 months).

Therefore, many people who use sites like Zillow and Trulia are ready to buy or sell property.

(Zillow)

8. In 2021, 4.1 Million Homebuyers Shopped Zillow. 

In 2021, 4.1 million homebuyers had previously shopped on Zillow.

This data is an internal estimate calculated from the yearly sales of homes in 2021 according to estimates and internal data derived from the Zillow Group and the National Association of REALTORS®.

(ZillowGroup)

9. Experts at Zillow Forecast that Home Values Will Increase by 3.9% Over 2023. 

The expectation is that there will be 4.36 million existing house sales in 2023. That would be a 13% decline from the 2022 figure.

Zillow revised their initial forecast and changed it to 3.9% growth after home values increased in April 2023.

It’s closer to pre-pandemic figures for the second month in 2023 in a row. This forecast would still represent 13% less than what sold in 2022.

(Zillow 2)

10. In 2022, 93.9% of Zillow’s Revenue Came from The Internet, Media, and Technology, or IMT Segment.

Data shows that 93.9% of all revenue generated by Zillow came from the IMT segment.

Only 6.01% came from the mortgage segment.

The mortgage segment includes mortgage lender advertising and Zillow Home Loans.

Website traffic and advertising revenues help Zillow connect homebuyers with real estate agents.

(Ruby Home)

11. 32.37% of Zillow’s Expenses Come from Their Sales and Marketing. 

According to Zillow, 32.37% of their total expenses came from their Sales & Marketing department.

This was closely followed by their Technology & Development department, which accounted for 24.28% of their 2022 yearly expenses.

Moreover, expenses from their General & Administrative department (24.28%), Cost of Revenue (17.89%), and “other) (1.17%) expenses were part of the company’s expenses. 

(Ruby Home, Zillow Group 2022 Annual Report)

12. Zillow’s 2022 Annual Report States that Movers Convert Better After Using Their Tours.

As Zillow improves their touring process, it’s worthy of note that movers that do request a tour convert to “transactors” three times more than other Zillow activities.

This is one of Zillow’s customer-facing solutions that make home tour scheduling easier and more seamless. 

(Zillow Group 2022 Annual Report)

13. 87% of U.S. Homes that Were Bought in The United States Are Financed.

A whopping 87% of American homeowners finance their homes which means they have mortgage debt.

Around 40% of all homebuyers start with their experience with financing.

Zillow cites that 80% of their prospective mortgage customers don’t have a real estate agent. 

(Zillow Group 2022 Annual Report)

14. In 2023 Zillow Launched Their Showing Time+ and Media Services for Listing Agents and Sellers.

Earlier this year, Zillow launched a program called, ShowingTime+, a photography service and Media Services, which is a comprehensive media package.

These new programs allow listing agents and sellers to deliver immersive and professional media solutions for the houses and properties they are selling.

Also, these services act as a precursor to their Listing Showcase product which is planned for launch in the summer of 2023.

(Zillow Group 2022 Annual Report)  

15. The Average Site Visitor Spends Just Over 6 Minutes on Zillow.

The average length of time a person visiting Zillow stays on the site is just over 6 minutes.

Additionally, visitors look at 15 pages of the site on average.

There has been an over 7% uptake in website traffic on Zillow since May.

(SimilarWeb)

16. The United States Has the Largest Share of Zillow Site Visits at 96.33%.

As you might expect, most of Zillow’s website visitors are from the United States. The U.S. has 96.33% of the share of site visits on Zillow.

Canada accounts for .80% and the Philippines has a .27% share. These are the top three countries that visit the Zillow website.

All of them have risen by over 7% over the last month.

(SimilarWeb)

17. 52.42% of Zillow Site Visitors Are Male.

SimilarWeb shows us that 51.42% of Zillow’s website visitors are male. However, there’s not much of a gender gap since 47.58% of women also visit the site.

As a marketer or real estate professional, this is the kind of data you need to properly target your marketing and advertising efforts. 

(SimilarWeb)

18. Zillow’s Audience Falls Highest Within the 25 to 34 Age Demographics. 

In terms of age, 23.81% of Zillow’s audience falls between 25 and 34 years old.

The 35 to 44 age demographic has a share of 20.47% in visits to the website, making it second to the 25-34 demographic.

Next, the 45 to 54 age group has 17.51% of the site visits shares. while the 18- to 24-year-old segment has a 15.61% share.

Finally, the 55 to 64 segment has 12.94% and those 65-plus have a 9.66% share in Zillow site visits. This tells us a lot about their audience. 

(SimilarWeb)

19. Direct Traffic Is the Primary Method of Site Traffic for Zillow with 57.43% Distribution.

Website traffic to Zillow comes from several avenues. However, direct traffic shows its distribution at 57.43%.

Next, organic search has a 35.73% distribution share. No other traffic sources come close to either of these channels.

Paid Search accounts for 3.44%, Social has 1.25%, Email accounts delivers 1.46%, Referrals have 0.68%, and Display ads only provide 0.02% of Zillow’s traffic.

(SimilarWeb)

20. Facebook Delivers 57.94% of Zillow’s Site Traffic Across Social Sources.

Though Social traffic as a whole doesn’t deliver as much traffic to the Zillow site as Direct and Organic Search, there is still a distribution to consider from social media.

Facebook takes the lead by delivering 57.94% of all social media traffic.

Other social channels include Reddit (11.97%), YouTube (10.68%), Twitter (8.04%), and all others (6.60%). Remember, this is important data when you’re marketing and advertising on Zillow.

(SimilarWeb)

FAQs

Conclusion

Zillow is an invaluable resource for real estate professionals, renters, and homeowners. and by understanding the trends in the housing market, you can make informed decisions about your own housing situation.

After reading this article you should have a better understanding about how it works, how to use it, and what it can do for you whether you need to rent, buy, or sell homes or land.

If you already use Zillow for shopping for your first or next home, these statistics should also be beneficial to you.

If you’ve never used Zillow, now you have a better understanding of how it works.

Furthermore, if you’re a real estate professional, marketer, mortgage professional, or advertiser, you have a good idea of how to create your strategy.

We’ve also learned a bit about how the housing market fluctuates and how inflation has created higher interest rates.

Regardless of the challenges Americans face in the housing realm, Zillow helps people find agents and homes to buy.

We hope you have enjoyed reading this article, but even more we hope you have learned something about this company and its website from these Zillow statistics. 

Sources

Business of Apps	Ruby Home	SimilarWeb
Statista	U.S. Census Bureau	Zillow
Zillow 2	ZillowGroup	Zillow Group 2022 Annual Report
Zillow Zestimate