San Angelo’s current Zillow ZHVI typical city home value is $217,778, while Zillow ZORI typical observed monthly market rent is $1,302. Annualizing ZORI and dividing by ZHVI produces a 7.2% gross yield before every operating cost. The ZHVI is 3.31x ACS median household income, and annual ZORI equals 23.7% of that income. These city screening ratios frame entry price and rent affordability, but they do not establish a property’s achievable lease, borrower qualification, or net return.
The ACS describes 44,176 city housing units, a 10.6% citywide vacancy rate, and a 38.8% renter share among occupied units. Its $187,600 median home value is owner-reported for surveyed occupied housing, while its $1,153 median gross rent includes contract rent plus selected utilities. Those ACS measures have a different concept and period from Zillow’s typical city value and observed market rent, so the two series should be read side by side rather than averaged or treated as a transaction spread.
City structure context is concentrated in single-family units, which are 73.5% of housing stock, versus 10.3% in large multifamily buildings. ACS city context shows 48.9% of measured renter households paying at least 30% of income toward gross rent; that signals affordability pressure, not extra rent capacity. Of vacant city units, 29.5% are classified as for rent, but this survey share is not available investment inventory or proof of fast leasing. The city population estimate is 99,674, down 0.4% across overlapping ACS vintages; it is not annualized and may reflect boundary changes. Median household income is $65,864, with 11.0% poverty and 3.9% unemployment, descriptive demand constraints that do not establish causation or tenant quality.
At the county scope, Tom Green County’s median listing time is 53 days and 16.1% of active listings have price reductions, useful context for negotiating conditions but not city transaction performance. The broader San Angelo metro has 0.3% year-over-year job growth and 3.8 months of supply; these metro measures provide labor and for-sale context but do not identify city rent demand. The national 30-year mortgage rate is 6.58%, a financing benchmark rather than San Angelo borrowing terms.
Underwriting remains limited by citywide aggregates, differing Zillow and ACS definitions, overlapping population vintages, and wider geographies with different denominators. Next, verify the property’s lease, achievable rent, comparable leases and sales, condition, utilities, taxes, insurance, hazard deductibles, management, turnover, title, legal use, financing and downtime. Rebuild cash flow from property-specific inputs, not gross yield or citywide vacancy.