Overland Park’s current Zillow ZHVI typical home value is $493,605, while Zillow ZORI typical observed market rent is $1,800 a month. That produces a 4.4% gross yield before every operating cost, financing, vacancy and capital spending. The Zillow value equals 4.71x ACS median household income, and annualized ZORI equals 20.6% of that income. These are citywide reference points, not a property return or tenant budget.
ACS counts 89,079 city housing units, of which 4.7% are vacant; renters occupy 39.5% of occupied units. The ACS median owner-reported home value is $413,600, and ACS median gross rent, including contract rent plus selected utilities, is $1,515. Those surveyed occupied-housing measures differ in method and period from Zillow’s typical value and observed market rent, so they should not be averaged or treated as direct comps.
City rent burden is material: 42.8% of renter households pay at least 30% of income toward gross rent. The stock is 64.8% single-family and 11.0% in ACS’s large-multifamily category. Of vacant units, 48.2% are classified for rent. Population rose 4.9% between overlapping ACS five-year vintages; this is not an annual rate, may reflect boundary changes, and is not a five-year event count. Median household income is $104,834, while poverty is 5.6% and unemployment 3.6%. These citywide survey indicators describe demand constraints and stock; they cannot identify available investment inventory or prove a particular unit will lease quickly.
At the county scope, Johnson County had 1,569 active listings, a 46-day median market time and a 10.5% price-reduced share, giving sale-liquidity context rather than city conditions. Johnson County’s county property-tax rate was 1.137%, but a parcel’s bill still requires assessed value and applicable levies. The national Freddie Mac 30-year mortgage rate was 6.58%, a financing benchmark rather than an Overland Park borrowing quote.
The central limitation is denominator mismatch: city Zillow, city ACS, county market and tax records, and national financing evidence cannot be blended into one return estimate. Underwrite the target parcel with verified purchase price, achievable unit rent, concessions, physical vacancy, taxes, insurance, association charges, utilities, management, repairs, reserves and loan terms. Confirm condition, title, zoning and rental rules, then stress-test cash flow and exit liquidity rather than relying on citywide averages.