Green Bay’s current Zillow ZHVI typical city home value is $289,378, while ZORI typical observed market rent is $1,119 a month. That produces a 4.64% gross yield before every operating cost. ZHVI rose 5.83% year over year versus 2.22% for ZORI, a spread that can tighten entry economics. The home value is 4.37x ACS median household income, and annual ZORI equals 20.29% of that income; neither affordability ratio substitutes for borrower or tenant qualification.
The city has 45,701 housing units; renters occupy 42.11% of occupied units, while the citywide vacancy rate is 4.18%. These figures describe broad tenure and stock conditions, not lease-up for a specific property. ACS reports a $207,200 median owner-reported home value and $932 median gross rent for surveyed occupied housing, including selected utilities. Those ACS medians differ in concept and period from Zillow’s typical value and observed market rent, so they should not be averaged or treated as a price discount.
Direct city depth is mixed: 44.50% of renter households meet the ACS rent-burden threshold of 30% or more. Single-family structures are 64.46% of housing units, while large multifamily structures are 8.69%. Of vacant units, 47.57% are categorized for rent; vacancy-reason shares are survey context, not available investment inventory. The ACS population estimate is 106,253, up 1.41% between overlapping five-year vintages; this is not annualized and may reflect boundary change. Median household income is $66,206, with poverty at 14.71% and unemployment at 3.68%. Poverty and unemployment are descriptive demand constraints, not causal explanations, and none of these citywide facts establishes a particular property’s rentability.
Brown County county context shows a 1.38% property-tax rate that requires parcel-specific replacement in underwriting. The broader Green Bay metro has 3 months of supply and 0.35% year-over-year job growth, providing market and labor context without measuring city conditions. The national Freddie Mac mortgage benchmark is 6.58%, a financing reference rather than a quote for any borrower.
Underwriting remains limited by citywide averages, overlapping survey windows, and the absence of property condition, exact taxes, insurance, utilities, management, repairs, capital expenditures, concessions, turnover, and financing terms. Next, verify achievable unit rent against comparable leases, inspect systems and deferred maintenance, obtain a parcel tax bill and insurer quote, test vacancy and collection loss, and model debt service under an actual lender offer. Confirm zoning, title, occupancy status, lease terms, and utility responsibility before relying on the headline yield.