Klamath Falls’ Zillow ZHVI typical home value is $313,957 and Zillow ZORI typical observed market rent is $1,257 per month. The implied 4.8% gross yield is before operating costs and financing. ZHVI is a typical city home value, while ZORI is a typical observed market rent, so the yield is a screening ratio rather than an appraisal or lease quote. The city price-to-income ratio is 6.7x median household income, framing affordability as an entry-cost measure rather than a property cash-flow result.
City ACS counts 10,037 housing units and an 8.0% vacancy rate, while renters occupy 51.1% of occupied units. The ACS median gross rent is $986 and includes contract rent plus selected utilities; the ACS median home value is $287,000. These are surveyed occupied-housing measures, unlike Zillow ZORI observed market rent and ZHVI typical city home value. The series have different measures and periods and should not be averaged or otherwise blended.
Among city renters, 58.6% report spending at least 30% of income on rent. Single-family homes make up 68.7% of city units, versus 8.8% in large multifamily buildings. ACS reports vacancy reasons including seasonal use, for-rent, and for-sale status; these reasons are citywide survey context, not available investment inventory. City population changed from 21,335 to 22,115, or 3.7%, between overlapping ACS five-year vintages; this is not annualized and may reflect boundary changes. Median household income is $46,693, poverty is 23.4%, and unemployment is 8.5%; these are descriptive demand constraints, not causal evidence. They cannot show a particular property’s lease-up, tenant quality, achievable rent, or expenses.
In Klamath County, the 0.625% property-tax rate is county context, and Klamath County Realtor data show 70 median days on market; both support parcel-specific tax and absorption review. In the broader Klamath Falls metro, Redfin reports 5 months of supply and a 96.7% sale-to-list ratio; these metro measures do not measure city transactions. The national Freddie Mac 30-year mortgage rate is 6.69%, a national financing benchmark rather than a city borrower quote.
Main limitations: city gross yield omits taxes, insurance, maintenance, utilities, management, capital work, vacancy loss, and financing; citywide ACS and Zillow series do not set a parcel’s rent or costs. Before underwriting a property, obtain comparable leases and concessions, inspect condition and age-sensitive capital needs, confirm utility responsibility and insurance, review tax assessment and zoning, and test lease-up, turnover, and financing terms. These checks can translate city context into a property-specific operating case without treating survey housing-stock data as investment inventory.