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A tight-supply market with no rental pool to price against. Demand is visible here; the rent math is not.
What would change this read: the median listing price is −1.5% YoY. inventory, +20.4% YoY, is the number to watch.
The median listing price is down 1.5% YoY while the median home got up 7.2% bigger, so value per square foot is down 5.6%.
U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.
Renters hold 34.3% of this ZIP's 24,165 occupied households, on a median household income of $214K.
County population is down 0.1% to 1,649,473: residents under 18 are down 1.4% and those 65 and over are up 3.0%.
County median household income is $129K, 9.2% of residents are below the poverty level, 25.7% work from home.