I think this area will be first to drop in price and rent in downturn, but then will come roaring back like Oakland did. Maybe we are at the tail end of the cycle and its hard to find a deal.
If we are at the tail end of the cycle, I don't know if rents will hold and this place will keep appreciating. If it is section 8 rent contract - will local housing authority ask for rent reduction if prevailing rents around are lower? Section 8 tenants will probably not care much about reduced rents as government pays most of rent.