I'm not an economist but, from talking to realtor friends of mine and my wife's, people are moving here from locations where housing is much more expensive. They are retiring, selling their house there and buying two, sometimes three houses here; one to live in and one or two to rent, driving home and rent prices through the roof.
There was a time, not so long ago, when you could easily buy a home , here for around $250 000. Those days are long gone and it's those who couldn't get into the housing market, namely millenials, who are paying for it now because they can't buy a house and the jobs aren't there to allow them to pay nearly their entire pay cheque on rent.