Rexburg’s current Zillow ZHVI typical home value is $432,774 and its Zillow ZORI typical observed monthly market rent is $1,124. That pairing produces a 3.1% gross yield, calculated as annual ZORI divided by ZHVI, before taxes, insurance, maintenance, financing, vacancy, or management. The ZHVI equals 8.5x ACS median household income, while annual ZORI equals 26.7% of that income, framing affordability as a constraint rather than a property cash-flow result.
Citywide stock tilts to renters: 77.0% of occupied units are renter occupied, and vacancy is 13.1% of all housing units. Single-family homes make up 26.4% of housing units, while large multifamily buildings make up 31.7%. ACS reports a $395,100 median home value and $1,004 median gross rent among surveyed occupied homes; gross rent includes contract rent and selected utilities. Those ACS measures are distinct from Zillow’s typical value and observed market rent, so they should not be averaged or treated as same-period valuation evidence.
Nearly half—49.7%—of renter households pay 30% or more of income toward rent. Of city vacant units, 22.5% are for rent and 18.5% are seasonal; these ACS reason shares describe stock, not available investment inventory or lease-up prospects. Across overlapping ACS five-year vintages, city population increased 42.7%; this comparison is not annualized and may be affected by boundary changes. Median household income is $50,617, with 32.5% poverty and 8.8% unemployment. These descriptive demand constraints do not establish tenant performance or causation.
Madison County’s county-level Realtor context shows a 70-day median time on market and 25.3% of active listings with price reductions. At the broader Rexburg metro level, supply was 9.5 months, employment was down 0.6% year over year, and permits totaled 788. The national 30-year mortgage rate was 6.69%, a financing benchmark rather than a Rexburg borrowing quote.
Underwriting remains limited by citywide averages and survey measures: neither establishes condition, unit mix, tenant turnover, achievable rent, concessions, or operating expenses for a specific property. Next checks should verify the address’s zoning, legal unit count, rent roll and lease expirations, utilities, taxes, insurance and climate coverage, repairs and capital needs, financing terms, comparable current listings and leases, and any restrictions. Test cash flow against actual income and expenses rather than the pre-cost gross yield.