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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 +3.1% YoY. inventory, −4.4% YoY, is the number to watch.
The median listing price is up 3.1% YoY while the median home got up 5.2% bigger, so value per square foot is down 0.0%.
U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.
Renters hold 36.4% of this ZIP's 56,943 occupied households, on a median household income of $101K.
County population is down 0.4% to 9,808,667: residents under 18 are down 1.9% and those 65 and over are up 2.7%.
County median household income is $90K, 13.7% of residents are below the poverty level, 17.1% work from home.