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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 −8.7% YoY. inventory, −6.1% YoY, is the number to watch.
The median listing price is down 8.7% YoY while the median home got down 11.6% bigger, so value per square foot is up 0.5%.
U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.
Renters hold 43.2% of this ZIP's 46,661 occupied households, on a median household income of $120K.
County population is up 0.1% to 3,165,820: residents under 18 are down 1.4% and those 65 and over are up 3.2%.
County median household income is $116K, 9.5% of residents are below the poverty level, 18.5% work from home.