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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 −7.6% YoY. inventory, −11.1% YoY, is the number to watch.
The median listing price is down 7.6% YoY while the median home got down 5.2% bigger, so value per square foot is down 2.3%.
U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.
Renters hold 35.2% of this ZIP's 33,684 occupied households, on a median household income of $110K.
County population is up 0.2% to 3,288,774: residents under 18 are down 1.0% and those 65 and over are up 2.8%.
County median household income is $106K, 10.3% of residents are below the poverty level, 18.7% work from home.