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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 −12.2% YoY. inventory, +16.8% YoY, is the number to watch.
The median listing price is down 12.2% YoY while the median home got down 7.0% bigger, so value per square foot is down 2.2%.
U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.
Renters hold 66.6% of this ZIP's 49,548 occupied households, on a median household income of $130K.
County population is up 1.0% to 1,638,365: residents under 18 are up 0.1% and those 65 and over are up 2.9%.
County median household income is $131K, 7.7% of residents are below the poverty level, 24.7% work from home.