Crawford County presents a tradeoff: Zillow’s median home value was $208,354 in 2026-06 and rose 4.09%, while the county has no published market rent. FHFA’s repeat-transaction index also points upward—3.83% for annual 2025 and 62.91% cumulatively over its five-year interval, not annualized—but these are separate FHFA measures, and neither substitutes for rent; they must not be averaged with Zillow. This suits an investigator able to verify income and flood costs, not an investor assuming Macon-area conditions apply.
Economics cannot be completed from the record. HUD’s two-bedroom FMR is $1,307 per month, a payment standard rather than asking rent; with market rent absent, gross yield cannot be computed. The effective property-tax rate is 0.87%, so taxes are a carrying-cost input, but no rent, insurance, repairs, vacancy, management, financing, or property-level tax bill is supplied to test coverage. Price appreciation alongside an unmeasured rent stream leaves the central cash-flow question open; FMR must not fill that gap.
Demand evidence is mixed. Net migration was 30, but the average AGI gap was negative $975: incoming movers had lower average income than outgoing movers. QCEW’s 2025 annual covered-workplace series shows employment growth of 1.75% and an average weekly wage of $924; it is not resident employment or unemployment. Natural resources and mining is the largest disclosed private supersector, not the whole economy. Investor mortgages were 6 of 69 purchases. Without Realtor.com measures, visible supply, marketing time, reductions, and pending activity cannot establish competition or liquidity.
The dominant hazard is inland flood. The modeled climate-loss ratio is 0.10% of building value expected lost per year, not an insurance quote, property-specific loss estimate, or evidence of insurability. Before underwriting, obtain market rent and lease terms; verify flood-zone, elevation, prior claims, deductibles, and insurance; and check property condition, operating costs, financing, comparable closed sales, and listing history. These checks are necessary because the record cannot establish gross yield, debt-service coverage, or resale liquidity. County evidence cannot establish that the Macon metro is representative.