Auglaize County presents a price-versus-carrying-income tension: Zillow’s June 2026 median home value of $246,553 was 6.19% higher year over year, while visible listing conditions and modest job change warrant caution. The county warrants investigation by investors able to test property-level operating costs and flood exposure; buyers relying on rapid resale or unverified rent growth should be cautious. FHFA’s 2025 repeat-transaction HPI rose 3.45% over the year, confirming appreciation direction but not Zillow’s same time frame or method; it is an index rather than a home value.
Measured median asking rent is $1,100 per month and reported gross yield is 5.35% before vacancy, repairs, insurance, financing, or taxes. It exceeds HUD’s $1,000 two-bedroom FMR, but FMR is a payment standard rather than market asking rent and cannot validate price or yield. Effective property tax rate is 0.96%, with median annual tax of $1,828, so carrying costs matter against a modest gross yield. Missing operating expenses, vacancy, insurance, mortgage terms, and property-level tax assessments prevent a net-yield or debt-service-coverage conclusion.
Realtor.com’s MLS market shows visible supply loosening: inventory rose 40.45%, marketing time lengthened, and 15.35% of listings had reductions. These are asking-market and seller-concession measures, not closed sales or stand-alone proof of buyer demand. Negative net migration, despite higher average AGI for movers in than movers out, adds a mixed household-demand signal. Investors accounted for 15 of 421 purchases, limiting evidence of investor competition.
Inland flood is the dominant hazard; modeled annual climate loss is 0.13% of building value. This modeled ratio is neither a parcel insurance quote nor a dollar-loss estimate. Higher MLS supply, reductions, limited investor participation, and flood exposure direct diligence to basis, insurability, and downside costs. QCEW’s 2025 annual series counts covered jobs at county workplaces, not resident employment or a forecast; Manufacturing is the largest disclosed private supersector, requiring employer-level checks. Obtain closed-sale and unit-type rent comps, flood-zone and claims history, insurance quotes, utility and repair data, and lease and vacancy history. Without these, resale liquidity, net cash flow, and hazard-adjusted returns cannot be underwritten.