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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 −3.3% YoY. inventory, +6.5% YoY, is the number to watch.
The median listing price is down 3.3% YoY while the median home got down 0.9% bigger, so value per square foot is down 4.9%.
U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.
Renters hold 56.2% of this ZIP's 60,293 occupied households, on a median household income of $187K.
County population is down 0.1% to 1,902,047: residents under 18 are down 2.2% and those 65 and over are up 3.0%.
County median household income is $164K, 7.1% of residents are below the poverty level, 23.9% work from home.