diff --git a/packages/studio-server/src/routes/files.renameReferences.test.ts b/packages/studio-server/src/routes/files.renameReferences.test.ts
index 20ee3ad25b..45c50d053b 100644
--- a/packages/studio-server/src/routes/files.renameReferences.test.ts
+++ b/packages/studio-server/src/routes/files.renameReferences.test.ts
@@ -338,12 +338,61 @@ describe("renaming a folder over the route", () => {
       join(project, "a", "style.css"),
       'url(b/../logo.png) url(b/sub/../../logo.png) url(b\\.\\..\\logo.png) url("b/../in/logo.png") url("b/sub dir/../../logo.png") url("b/s,(;)/../../logo.png") url(b/image.png)',
     );
-    writeFileSync(join(project, "index.html"), '<img src="a/b/../logo.png">');
 
     expect((await renameIn(project, "a/b", "b/c")).status).toBe(200);
     expect(readFileSync(join(project, "a", "style.css"), "utf8")).toBe(
       'url(b/../logo.png) url(b/sub/../../logo.png) url(b\\.\\..\\logo.png) url("b/../in/logo.png") url("b/sub dir/../../logo.png") url("b/s,(;)/../../logo.png") url(../b/c/image.png)',
     );
-    expect(readFileSync(join(project, "index.html"), "utf8")).toBe('<img src="a/b/../logo.png">');
+  });
+
+  it("in HTML takes the folder reading only where its file exists, else leaves the root path to the root pass", async () => {
+    const project = mkdtempSync(join(tmpdir(), "hf-rename-refs-"));
+    dirs.push(project);
+    mkdirSync(join(project, "assets"));
+    mkdirSync(join(project, "compositions", "assets"), { recursive: true });
+    writeFileSync(join(project, "assets", "logo.png"), "x");
+    writeFileSync(join(project, "compositions", "assets", "bg.png"), "x");
+    writeFileSync(
+      join(project, "compositions", "hero.html"),
+      '<img src="assets/logo.png"><img src="assets/bg.png">',
+    );
+
+    expect((await renameIn(project, "compositions/assets", "compositions/media")).status).toBe(200);
+    expect(readFileSync(join(project, "compositions", "hero.html"), "utf8")).toBe(
+      '<img src="assets/logo.png"><img src="media/bg.png">',
+    );
+  });
+
+  it("in HTML gives a path the runtime reads from the root to the root pass, where both readings match", async () => {
+    const project = mkdtempSync(join(tmpdir(), "hf-rename-refs-"));
+    dirs.push(project);
+    mkdirSync(join(project, "scenes", "scenes"), { recursive: true });
+    writeFileSync(join(project, "scenes", "scenes", "clip.mp4"), "x");
+    writeFileSync(join(project, "scenes", "intro.html"), '<video src="scenes/scenes/clip.mp4">');
+
+    expect((await renameIn(project, "scenes/scenes", "scenes/shots")).status).toBe(200);
+    expect(readFileSync(join(project, "scenes", "intro.html"), "utf8")).toBe(
+      '<video src="scenes/shots/clip.mp4">',
+    );
+  });
+
+  it("edits each reference once when the new path ends in the old one, and keeps a longer folder's path", async () => {
+    const project = mkdtempSync(join(tmpdir(), "hf-rename-refs-"));
+    dirs.push(project);
+    mkdirSync(join(project, "a", "b"), { recursive: true });
+    mkdirSync(join(project, "assets", "clips"), { recursive: true });
+    mkdirSync(join(project, "assets", "old clips"), { recursive: true });
+    writeFileSync(join(project, "a", "b", "x.png"), "x");
+    writeFileSync(join(project, "assets", "clips", "a.png"), "x");
+    writeFileSync(join(project, "assets", "old clips", "a.png"), "x");
+    writeFileSync(join(project, "a", "s.css"), "url(b/x.png)");
+    writeFileSync(join(project, "assets", "s.css"), 'url("old clips/a.png") url(clips/a.png)');
+
+    expect((await renameIn(project, "a/b", "a/a/b")).status).toBe(200);
+    expect(readFileSync(join(project, "a", "s.css"), "utf8")).toBe("url(a/b/x.png)");
+    expect((await renameIn(project, "assets/clips", "assets/takes")).status).toBe(200);
+    expect(readFileSync(join(project, "assets", "s.css"), "utf8")).toBe(
+      'url("old clips/a.png") url(takes/a.png)',
+    );
   });
 });
diff --git a/packages/studio-server/src/routes/files.ts b/packages/studio-server/src/routes/files.ts
index ea03c2d7f4..a37da47450 100644
--- a/packages/studio-server/src/routes/files.ts
+++ b/packages/studio-server/src/routes/files.ts
@@ -703,9 +703,9 @@ function referenceEdits(
   newPath: string,
   isDirectory: boolean,
   existing: readonly string[],
-  bareOrDotLead = false,
+  beside: { targets: ReadonlySet<string> | null } | null = null,
 ): (text: string) => Edit[] {
-  const pattern = referencePattern(oldPath, isDirectory, bareOrDotLead);
+  const pattern = referencePattern(oldPath, isDirectory, beside !== null);
   const around = new Map<string, Map<number, Set<string>>>();
   const afterLengths = new Set<number>();
   let window = 0;
@@ -738,9 +738,13 @@ function referenceEdits(
         );
       });
       const end = offset + match.length;
-      const rest = /^[^"'`<>\r\n]*/.exec(text.slice(end, end + MAX_REST))![0];
-      const climbsOut = isDirectory && leavesFolder(normalized(rest));
-      return inLonger || climbsOut ? [] : [{ at, end, text: newPath }];
+      if (inLonger) return [];
+      if (beside) {
+        const rest = normalized(/^[^"'`<>\r\n]*/.exec(text.slice(end, end + MAX_REST))![0]);
+        if (isDirectory && leavesFolder(rest)) return [];
+        if (beside.targets && !reaches(beside.targets, `${newPath}${rest}`)) return [];
+      }
+      return [{ at, end, text: newPath }];
     });
 }
 
@@ -754,6 +758,14 @@ export function referenceRewriter(
   return (text) => applyEdits(text, edits(text));
 }
 
+// HTML reads a bare path beside itself only where that file exists, else from the project root (rewriteAssetPath).
+function reaches(targets: ReadonlySet<string>, path: string): boolean {
+  for (let i = 0; i <= path.length; i++)
+    if ((i === path.length || /[\s?#),;]/.test(path[i]!)) && targets.has(path.slice(0, i)))
+      return true;
+  return false;
+}
+
 function leavesFolder(rest: string): boolean {
   let depth = 0;
   for (const segment of rest.split("/")) {
@@ -810,22 +822,17 @@ function updateReferences(
 
   const existing = projectPaths(projectDir);
   const rootEdits = referenceEdits(oldPath, newPath, isDirectory, existing);
-  const parentFolderEdits = new Map<string, (text: string) => Edit[]>();
+  const parentFolderEdits = new Map<string, Record<"css" | "other", (text: string) => Edit[]>>();
   for (let at = oldPath.indexOf("/"); at > 0; at = oldPath.indexOf("/", at + 1)) {
     const dir = oldPath.slice(0, at);
     const inside = existing
       .filter((path) => path.startsWith(`${dir}/`))
       .map((path) => path.slice(at + 1));
-    parentFolderEdits.set(
-      dir,
-      referenceEdits(
-        oldPath.slice(at + 1),
-        posix.relative(dir, newPath),
-        isDirectory,
-        inside,
-        true,
-      ),
-    );
+    const [from, to] = [oldPath.slice(at + 1), posix.relative(dir, newPath)];
+    parentFolderEdits.set(dir, {
+      css: referenceEdits(from, to, isDirectory, inside, { targets: null }),
+      other: referenceEdits(from, to, isDirectory, inside, { targets: new Set(inside) }),
+    });
   }
   let updatedCount = 0;
   for (const file of textFiles) {
@@ -833,7 +840,8 @@ function updateReferences(
     const content = readableText(file);
     if (content === null) continue;
 
-    const beside = parentFolderEdits.get(relative(projectDir, dirname(file)).split(sep).join("/"));
+    const parent = parentFolderEdits.get(relative(projectDir, dirname(file)).split(sep).join("/"));
+    const beside = parent?.[/\.css$/i.test(file) ? "css" : "other"];
     // A bare path in a folder's file is relative to that folder, so its edit wins where both start.
     const updated = applyEdits(content, [...(beside?.(content) ?? []), ...rootEdits(content)]);
     if (updated !== content) {