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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 −5.4% YoY. inventory, +13.5% YoY, is the number to watch.
The median listing price is down 5.4% YoY while the median home got down 6.5% bigger, so value per square foot is up 2.2%.
U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.
Renters hold 28.8% of this ZIP's 29,129 occupied households, on a median household income of $129K.
County population is down 0.1% to 837,469: residents under 18 are down 1.7% and those 65 and over are up 3.2%.
County median household income is $110K, 9.3% of residents are below the poverty level, 15.8% work from home.