Zillow will have a $1 trillion+ market cap

Travis Hoium
2025-02-23

In 2040, I think $Zillow(Z)$ $Zillow(ZG)$ will have a $1 trillion+ market cap.

That would be a 32% CAGR from today and a 64x return for investors.

Let me explain👇

Zillow is becoming the "housing platform" where we do everything from search for homes and rentals to find a mortgage.

Over time, that position will allow Zillow to be the main "discovery" location for rentals, homes, insurance, moving services, title search, etc.

Napkin math time:

~9 million existing homes sold/yr in 2040 (conservative)

~1 million new homes sold/yr

Zillow revenue of $5k/home for $50 billion in rev 50 million renters $1,000 in rev/yr per renter

Total: $100 billion in revenue

0x sales = $1 trillion valuation

These are all guesstimates, but why can't Zillow generate that kind of value if it ultimately replaces most agents/title firms/lawyers by standardizing leases and purchase agreements/etc?

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