Coshocton County presents a valuation-versus-underwriting tension: Zillow’s June 2026 median home value was $192,802, up 7.14% year over year, while FHFA’s 2025 repeat-transaction HPI rose 4.24%. The measures point in the same direction but are not the same method or period, and the HPI is not a home value. This merits investigation by buyers testing current basis against income capacity; it warrants caution where flood exposure or thin property-level evidence matters.
The carrying-cost case is incomplete. The effective property-tax rate is 0.95%, and a separately reported median annual tax cannot be assumed to apply to Zillow’s median-value home. No county market asking rent is published, so gross yield cannot be computed. HUD’s $973 two-bedroom Fair Market Rent is a payment standard, not asking rent or evidence of achievable income. Lease comps, utilities, insurance, and property-specific tax assessment are needed before setting a rent-and-expense case.
MLS listing evidence is mixed rather than a demand verdict: Realtor.com recorded 68 active listings in June 2026, 22.73% more than a year earlier; 11.55% carried a price reduction, while the pending-to-active ratio was 65.93%. These are asking-market supply, concessions, and pipeline measures—not closed-sale prices or proof of buyer demand. Tax-return migration was net positive, and movers’ average AGI entering exceeded that of leavers by a calculated $2,877. Investors accounted for 12.76% of purchases, a separate buyer cohort but not evidence that investors set pricing.
Labor and hazard evidence define the limits. QCEW annual covered employment at county workplaces fell 0.82%; Manufacturing is the largest disclosed private supersector, not the entire economy or resident labor market. Inland flood is the dominant hazard, and modeled annual climate loss equals 0.11% of building value. The record does not publish market rent, closed-sale trends, parcel-level flood zone or insurance cost, financing terms, or property condition; those gaps prevent a defensible income, resale-liquidity, and hazard-cost underwriting conclusion.