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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 −5.0% YoY. inventory, +11.3% YoY, is the number to watch.
The median listing price is down 5.0% YoY while the median home got down 3.5% bigger, so value per square foot is down 3.1%.
U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.
Renters hold 39.0% of this ZIP's 473,782 occupied households, on a median household income of $95K.
County population is up 0.0% to 1,269,496: residents under 18 are down 0.8% and those 65 and over are up 3.3%.
County median household income is $98K, 10.0% of residents are below the poverty level, 25.2% work from home.