Zillow Group, Inc. (ZG) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in Zillow Group (ZG) by buying shares or fractional shares at any major US broker, through a real-estate, internet, or communication-services ETF that holds it, or as one holding in a thematic basket. Zillow runs the most-visited US residential real-estate marketplace and monetizes that traffic through Premier Agent leads, Zillow Home Loans, a fast-growing Rentals marketplace, plus Trulia and StreetEasy, all being stitched into a single "housing super app." One thing to understand up front: ZG is the Class A (voting) share and Z is the Class C (non-voting) share of the same company, so they track the same underlying economics and differ mainly in voting rights and day-to-day price.
ZG stock price
As of 2026-07-14, Zillow Group, Inc. (ZG) last closed at $32.48, down 57.4% over the past year. Over the past 52 weeks it has traded between $29.14 and $86.76.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Zillow Group, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Zillow Group, Inc. (ZG) do?
Zillow Group operates the largest and most engaged US residential real-estate audience, spanning Zillow, Trulia, StreetEasy, HotPads, and Out East, plus software and services like Zillow Home Loans, ShowingTime+, Spruce, and Follow Up Boss. Historically its biggest revenue engine has been Premier Agent, where real-estate agents pay for buyer and seller leads, but management is deliberately widening the model into a "housing super app" that lets a mover choose an agent, decide how to sell their current home, get a mortgage, and book a tour in one integrated flow. Rentals and Zillow Home Loans are the fastest-growing pieces, with rentals growth around 42% and on a trajectory to exceed $1 billion in annual revenue, and enhanced markets now driving a large share of connections and double-digit mortgage adoption.
The investment story in 2025-2026 is a shift from audience leader to integrated transaction platform. Zillow reached an important milestone of expecting positive GAAP net income in 2025 and frames a path toward roughly $5 billion in revenue and a 45% adjusted EBITDA margin in a normalized housing market. Two things shape the outlook: a US housing market still constrained by high mortgage rates and low transaction volumes, and intensifying competition from CoStar Group, which is investing heavily in Homes.com and Apartments.com. ZG and Z are two share classes of the same business (Class A voting versus Class C non-voting), so investors get the same economic exposure either way and should simply pick the ticker and liquidity that suit them.
What's driving Zillow Group, Inc. (ZG)?
1. Housing super app and integration
Zillow's core strategy is to convert its top-of-funnel audience into a connected transaction platform where movers pick an agent, finance through Zillow Home Loans, and book tours in one flow. Enhanced markets already account for around half of connections and are driving double-digit mortgage adoption. The bet is that owning more of the transaction lifts revenue per customer well above a pure advertising model.
2. Rentals and mortgage growth engines
Rentals is Zillow's standout growth area, expanding roughly 42% and on a path to top $1 billion in annual revenue by aggregating diverse listing supply and offering property managers strong marketing ROI. Zillow Home Loans adds a second engine by attaching mortgage origination to home searches. Together they diversify Zillow beyond Premier Agent and reduce reliance on any single revenue line.
3. Path to profitability and scale
After years of investment, Zillow reached the milestone of expecting positive GAAP net income in 2025 and points to a long-term target of roughly $5 billion in revenue and a 45% adjusted EBITDA margin in a normalized market. The company already runs high gross margins typical of a software and marketplace business, so incremental revenue can drop meaningfully to the bottom line if growth holds.
4. Housing-market cyclicality
Zillow's fortunes are tied to US home sales and mortgage activity, both pressured by elevated interest rates and tight inventory. A recovery in transaction volumes would be a tailwind for Premier Agent and mortgage revenue, while a prolonged slump caps the audience-to-transaction conversion. This macro backdrop is largely outside the company's control and heavily influences year-to-year results.
What are the risks to Zillow Group, Inc. (ZG)?
The biggest risk is competition: CoStar Group is spending aggressively to grow Homes.com and Apartments.com and directly challenge Zillow's audience and rentals lead, which could raise marketing costs and pressure share. Housing cyclicality is a second major risk, since high mortgage rates and low transaction volumes suppress the agent, mortgage, and listings revenue that depend on people actually moving. Regulatory and industry shifts, including changes to buyer-agent commissions and real-estate listing rules, could reshape how leads and agents are monetized. Execution risk on the super-app strategy is real, because integrating agents, mortgages, and rentals into one seamless flow is complex and unproven at full scale. Finally, as a growth-oriented internet stock, ZG can be volatile and sensitive to shifts in sentiment, rates, and quarterly connection and revenue trends.
How is Zillow Group, Inc. (ZG) valued? (approximate, Jul 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Zillow Group, Inc.'s investor relations page or your broker.
- Business model: Marketplace and software: Premier Agent leads, Zillow Home Loans, Rentals, plus Trulia and StreetEasy
- Revenue trend: Growing, led by Rentals (~42% growth) and mortgages; long-term aspiration is roughly $5 billion in a normalized market
- Profitability: Reached the milestone of expecting positive GAAP net income in 2025 after prior losses; high gross margins typical of a marketplace
- Rentals scale: On a trajectory to exceed $1 billion in annual revenue
- Valuation style: Trades as a growth internet stock on revenue and EBITDA expectations rather than on trailing earnings multiples
- Share classes: ZG is Class A (voting), Z is Class C (non-voting); same economics, so compare live prices and liquidity
These figures are qualitative and tied to the asOf date; verify live revenue, margins, and per-share numbers with Zillow's latest filings before acting. Because Zillow is valued on growth and future margins rather than steady trailing earnings, its multiple reflects expectations for the housing recovery and super-app adoption, both of which can change quickly. Remember that ZG and Z represent the same company, so any valuation applies to both.
Who competes with Zillow Group, Inc. (ZG)?
Residential real-estate portals and data
CoStar Group is the most direct and best-funded rival, pouring investment into Homes.com to challenge Zillow's residential audience and into Apartments.com against Zillow Rentals. Realtor.com (operated by Move, part of the News Corp and CoStar orbit of listing sites) also competes for home shoppers and agent advertising dollars.
Brokerages and transaction platforms
Redfin (acquired by Rocket Companies) blends a portal with brokerage and mortgage services, while Opendoor and traditional brokerages like Compass and eXp compete for the transaction itself. These players overlap with Zillow's push to own more of the buying, selling, and financing flow rather than just the search.
Rentals and adjacent marketplaces
In rentals, Zillow competes with Apartments.com (CoStar), Rent., Zumper, and social and search platforms where property managers advertise. Its mortgage arm, Zillow Home Loans, competes with Rocket Mortgage and other lenders. Each adjacent market is a place Zillow is expanding into and a place established specialists defend.
How to invest in Zillow Group, Inc. (ZG)
There are three common ways to get ZG exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so ZG sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where ZG fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Zillow Group, Inc. (ZG)
Zillow is the dominant US real-estate portal turning huge audience into agent, mortgage, and rentals revenue as it builds a housing super app. The thesis rides on a housing-market recovery, super-app adoption, and fending off CoStar's Homes.com, so it suits growth-oriented investors comfortable with a cyclical, competitive market.
Build a basket around ZG with Walnut
Use Zillow Group, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
Is ZG a good stock to buy right now?
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That depends on your goals, time horizon, and risk tolerance, and this is not investment advice. The bull case is Zillow's dominant audience, fast-growing rentals and mortgage businesses, a super-app strategy, and reaching positive GAAP net income. The bear case is a sluggish housing market, aggressive competition from CoStar's Homes.com, and a valuation that leans on future growth. Weigh both against the rest of your portfolio.
How does Zillow make money?
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Zillow's largest historical revenue source is Premier Agent, where real-estate agents pay for leads from buyers and sellers. It also earns from Zillow Home Loans (mortgage origination), a growing Rentals marketplace where property managers advertise listings, and software and services like ShowingTime+ and Follow Up Boss. The strategy is to combine these into one integrated housing super app.
What is the housing super app strategy?
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Zillow's super-app plan aims to turn its huge audience into an integrated transaction platform, letting a mover choose an agent, decide how to sell their current home, get a mortgage, and book a tour in one connected flow. Enhanced markets already drive a large share of connections and higher mortgage adoption. The goal is to earn more revenue per customer than a pure advertising model.
Who are Zillow's main competitors?
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The most direct rival is CoStar Group, which is investing heavily in Homes.com to challenge Zillow's residential audience and in Apartments.com against Zillow Rentals. Realtor.com also competes for shoppers and agent ad spend, while brokerages and platforms like Redfin (now part of Rocket Companies), Opendoor, and Compass compete for the transaction itself.
Is Zillow profitable?
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Zillow reached an important milestone of expecting positive GAAP net income in 2025 after years of investment-driven losses. It runs high gross margins typical of a marketplace and software business, so profitability can improve as revenue scales. Because results still swing with the housing cycle and reinvestment, check the latest filings for current profit figures before drawing conclusions.
How does the housing market affect Zillow?
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Zillow's revenue is closely tied to US home sales and mortgage activity. When high interest rates and low inventory suppress transactions, agent, mortgage, and listings revenue that depend on people moving come under pressure. A recovery in transaction volumes would be a tailwind. This macro backdrop is largely outside the company's control and heavily shapes year-to-year performance.
How can I get exposure to Zillow through an ETF?
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ZG and Z appear in various real-estate, internet, and communication-services ETFs, where Zillow sits among online-marketplace and tech names. ETF exposure spreads single-stock risk across many holdings but dilutes how much any Zillow move affects you. Always check a fund's holdings and weighting before assuming meaningful exposure to Zillow specifically.
What are the main risks of investing in ZG?
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Key risks include intense competition from CoStar's Homes.com and Apartments.com, a housing market constrained by high mortgage rates and low volumes, and regulatory shifts to buyer-agent commissions and listing rules. Execution risk on the complex super-app integration is real, and as a growth internet stock ZG can be volatile and sensitive to sentiment. Verify the current picture in Zillow's latest filings.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Zillow Group, Inc.'s investor relations page or your broker before making investment decisions.