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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 −4.7% YoY. inventory, +13.5% YoY, is the number to watch.
The median listing price is down 4.7% YoY while the median home got down 5.0% bigger, so value per square foot is down 0.6%.
U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.
Renters hold 41.7% of this ZIP's 28,608 occupied households, on a median household income of $112K.
County population is up 0.4% to 2,197,104: residents under 18 are down 0.6% and those 65 and over are up 3.0%.
County median household income is $85K, 13.3% of residents are below the poverty level, 11.0% work from home.