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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 −0.7% YoY. inventory, +3.8% YoY, is the number to watch.
The median listing price is down 0.7% YoY while the median home got up 0.8% bigger, so value per square foot is down 1.5%.
U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.
Renters hold 48.1% of this ZIP's 313,105 occupied households, on a median household income of $85K.
County population is up 0.6% to 1,594,006: residents under 18 are down 0.3% and those 65 and over are up 2.9%.
County median household income is $92K, 12.5% of residents are below the poverty level, 19.1% work from home.