For a citywide screen, Zillow’s current ZHVI puts Winston-Salem’s typical home value at $267,668, while ZORI puts typical observed market rent at $1,537 a month. That pairing implies a 6.9% gross yield before vacancy, management, repairs, insurance, property taxes and financing. ZHVI is 4.5x ACS median household income, and annualized ZORI equals 31.1% of that income. ZHVI increased 0.6% year over year and ZORI increased 2.4%, but these backward-looking movements do not establish future income or appreciation.
ACS surveyed occupied housing reports an owner-reported median home value of $233,800 and median gross rent of $1,087, including selected utilities. Those measures cover different housing and periods from Zillow’s typical-market series, so they should not be averaged or substituted. Among occupied city units, 44.4% are renter-occupied; across the full housing stock, the vacancy rate is 10.6%. These citywide figures frame tenure and stock conditions, not the lease-up prospects of a specific home.
Direct city depth is mixed: ACS says 50.7% of renters meet its rent-burden measure, while single-family homes make up 66.3% of all units and large multifamily buildings 8.9%. For-rent units account for 31.9% of vacant stock, alongside separately classified for-sale and seasonal vacancies; these categories are survey context, not available investment inventory. Population was 252,037 versus 244,115 in the baseline overlapping ACS vintages, a 3.2% increase that is not annualized and may reflect boundary changes. Median household income is $59,268, with poverty at 17.7% and unemployment at 5.7%; these are descriptive demand constraints, not causes of property performance.
Forsyth County Realtor context shows a median 51 days on market and price reductions on 21.6% of listings, useful for county negotiating context but not city-specific liquidity. The broader Winston, NC metro posted 0.8% job growth and had 3 months of supply, indicators of the metro backdrop rather than Winston-Salem demand or inventory. At the national scope, Freddie Mac’s mortgage benchmark was 6.58%, which frames financing conditions but is not a borrower quote or property-specific debt cost.
The screen cannot resolve achievable rent for a particular unit, tenant turnover, concessions, rehabilitation needs, insurance, taxes, utilities, management, legal compliance or financing terms. Underwrite with property-level rent comparables, an inspection and repair scope, current tax and insurance quotes, utility responsibility, lease and collection history, title and permit review, and lender pricing. Recalculate net operating income, debt coverage and cash requirements under explicit vacancy, maintenance and capital-reserve assumptions before making any decision.