Dayton's current city Zillow readings put the typical home value at $141,446 and typical observed market rent at $1,207 per month. Annual rent divided by value produces a 10.24% gross yield, before vacancy, repairs, management, taxes, insurance, utilities, financing, and capital work. The value equals 3.13x city ACS median household income, while annualized Zillow rent equals 32.02% of that income. These are screening economics, not a property cash-flow result or a tenant affordability test.
The city has 70,335 housing units; renter-occupied units make up 51.61% of occupied units, and 16.86% of all units are vacant. ACS surveyed occupied housing reports a $100,600 median owner-reported home value and $918 median gross rent, which includes contract rent plus selected utilities. Those ACS measures differ in concept and period from Zillow's typical value and observed market rent, so they should not be averaged or treated as direct confirmation.
City ACS context shows 52.98% of renter households are rent-burdened. Housing units in single-family structures account for 70.66% of the stock and units in large multifamily structures for 8.97%; neither share measures purchasable inventory. Of vacant units, 17.36% are classified as for rent, but citywide vacancy reasons cannot establish leasing speed for a specific home. The population is 136,579, and the comparison between overlapping ACS five-year vintages shows a 2.84% decline; it is not annualized and may reflect boundary change. Median household income is $45,247, while poverty is 26.93% and unemployment is 8.99%. These are descriptive demand constraints, not causes or property-level outcomes.
For Greene County, the county context records FHFA annual home-price index growth of 3.75% and a property-tax rate of 1.614%; neither figure measures Dayton city pricing or a parcel's actual bill. For Montgomery County, the county context separately records FHFA annual home-price index growth of 5.66% and a property-tax rate of 1.729%; it must not be averaged with Greene County county data. The national Freddie Mac 30-year mortgage rate is 6.58%, which frames financing costs nationally rather than Dayton borrower terms.
Underwriting is limited by citywide medians, survey error, overlapping ACS vintages, and missing property-specific operations. Before an offer, verify the parcel's county, tax bill, insurance, hazards, title, zoning, permits, condition, utilities, achievable rent, concessions, management cost, capital work, vacancy, and collections. Recalculate cash flow using proposed financing and reserves; the city gross yield is not net return.