Use Zillow Data to Calculate Rent to Home Value?

[Joshua Zapin]

I'm interested in buying homes/apartments to rent to create long term cash flow.

To that end, I'm trying to find/validate good regions/zip codes where you can get 1-2% of the home value in rent. 

To that end, I've used Zillow Data to figure it out: https://www.zillow.com/research/data/

Where I've used, for example, the ZHVI 3-Bedroom Time Series ($) and compared it (using a VLOOKUP) to the Median Rent List Price ($), 3-Bedroom to figure out the % by dividing the median rent price by the median home value.

Am I doing it correctly? I ask because I noticed that most of the zip codes in the ZHVI aren't even represented Rent List Price data.

I'm just using this to start my research but will use other methods once I hone in on a property.

Perhaps I'm missing something?

Any guidance would be really appreciative.

JZ