The one thing that worries me that is evidence for a bubble inflating is the disparity between household income and home prices.

Is it best to just simply go by median household income, crime rate and K-12 school rankings?

My long term goal that has been on my heart for a long time, is to work with low income households to provide them with quality homes.

http://www.city-data.com/ is a free site that helps find local data such as geological hazards(floods, earthquakes, etc), average household income, average SFH price, things like average duplex triplex, quadplex price, and basically everything that can help you all you have to do is enter your city in the search bar(it is good to compare the data to find the best place to invest based on the data)

For instance, in my hometown, the average household income is $78,000 (Includes incomes of both Husband and Wife and anyone over the age of 16). 

Discretionary spending power continues to dwindle and household debts continue to increase.

But we have an LTR quad that gets $13k/month that was purchased for $775k (using a refi from the duplex STR from above as we had total household income of ~$40k at the time).  

Way more multifamily units (not even counting another 675,000 single family units under construction) than new household formations coming for 2024.Operating expenses, including taxes, insurance, maintenance, etc. are skyrocketing, and likely not all fully absorbed in the average property.And, alternatives that produce more cash flow than a 5% cap rate (average for prime multifamily real estate currently) with less work and less risk, like private lending, short-term treasuries, money market accounts, etc. 

We have our household account and my personal accounts with Columbia Credit Union.

I would first ask what does your Household Budget, Income Statement & Net Worth statement look like?