Beltrami County presents a cash-flow-versus-depth tension: Zillow’s 2026-06 median home value of $271,812 and median asking rent of $1,361 support reported 6.01% gross yield before costs, but underwriters must test whether income durability and flood exposure absorb carrying costs. Operators able to verify property-level flood insurance, condition and achievable rent should investigate; buyers relying on appreciation or resale liquidity should be cautious.
At Zillow’s county observation, home value rose 3.17% year over year while market asking rent rose 2.31%; these distinct measures show rent was not accelerating relative to value. The reported gross yield uses market rent, not HUD’s $1,135 two-bedroom FMR, which is a payment standard; market rent exceeds it. The 0.97% effective tax rate is a material carrying-cost input. Separately, FHFA’s 2025 repeat-transaction HPI rose 5.00% annually and 46.35% cumulatively; it corroborates a positive price direction but is neither a home value nor the same vintage or method as Zillow.
Realtor.com’s MLS listing-market evidence at 2026-06 shows 138 active listings, down 27.82% year over year, while the observed price-reduced share signals seller concessions. This visible supply is not a closed-sale measure or independent proof of buyer demand. Migration was negative by 46 tax-return households, although movers in reported average AGI $2,246 higher than movers out. Investor purchase mortgages accounted for 4.89% of 266 purchases, indicating limited measured investor competition, not all-cash or all investor activity.
Risk limits are inland flood and a modeled annual climate-loss ratio of 0.13% of building value; this is modeled rather than a property insurance quote or loss history. QCEW’s 2025 annual covered workplace employment edged down while covered-worker wages rose, with education and health services the largest disclosed private supersector; neither measure establishes resident labor conditions or a forecast. Missing vacancy, lease renewals, operating insurance, flood-zone and elevation data, property condition, sale comparables and financing terms prevent a net-yield, absorption and property-level hazard conclusion. Verify those items, plus FMR applicability and tenant payment mix, before relying on county signals.