Dearborn County has a modest-yield, rising-price tension: investors able to verify asset-level cash flow should investigate, while leverage-sensitive buyers should be cautious. Zillow’s 2026-06 county median home value was $334,771, up 5.26% year over year. FHFA’s 2025 repeat-transaction HPI increased 4% over its annual comparison. The direction is consistent, but these are different vintages and methods; the HPI is not a home value and cannot be combined with Zillow’s change.
Published median asking rent is $1,258 per month and supplied gross yield is 4.51% before costs, placing underwriting attention on operating expenses rather than an implied rent calculation. HUD’s two-bedroom FMR is $1,353 per month, a payment standard rather than market asking rent, so it neither replaces the measured rent nor establishes yield. The effective property-tax rate is 0.74%, with $1,789 median annual tax. Tax evidence helps frame carrying costs, but insurance, maintenance, financing and vacancy data are not published; net yield cannot be established.
Demand evidence is mixed rather than a direct absorption measure. Tax-return migration was net negative by 11 households, yet movers in reported average AGI $15,255 above movers out; the income mix is favorable in this narrow mover comparison, not proof of tenant demand. QCEW annual covered workplace employment grew 2.80% from its prior annual average, and leisure and hospitality was the largest disclosed private supersector. QCEW is neither resident employment nor an unemployment measure. Investor share was 3.70% of 540 purchases; this limited participation reduces observed investor competition but does not describe cash buyers, bid intensity, or all housing purchases.
Inland flood is the dominant hazard, and modeled expected annual climate loss equals 0.13% of building value. That modeled ratio is not a property-specific insurance quote or dollar loss, but it requires parcel flood-zone, elevation, claims, deductible and coverage review. Realtor.com inventory, median MLS listing price, days on market and price-reduction share are not published, preventing a visible-supply, seller-concession, or marketing-time read; MLS listings would be asking-market evidence, not closed sales. Verify rent comps, taxes and insurance at the address before relying on the county thesis.