Delaware County, OH

At Zillow’s 2026-06 county observation, the $524,727 median home value and $1,597 monthly median asking rent correspond to the supplied 3.65% gross yield before expenses. The decision tension is an expensive entry point paired with modest current income production: cost-sensitive leveraged buyers should be cautious, while buyers able to verify unusually low operating costs should investigate whether a specific asset can outperform the county median. This is a county screen, not a property valuation.

Measured market asking rent, rather than a subsidy benchmark, is the income input: HUD’s $1,430 two-bedroom FMR is a payment standard, not an estimate of asking rent. The 1.60% effective property-tax rate raises carrying-cost scrutiny. Zillow’s home-value change was 0.40% year over year, while FHFA’s 2025 annual repeat-transaction HPI increased 6.32%. FHFA is an index rather than a home value; the methods and vintages differ, so neither rate should be averaged nor treated as a single price path.

Annual QCEW data for 2025 show county workplace covered employment rising 2.59%; this is job activity at county establishments, not resident employment or an outlook. Calculated net migration was 965 tax-return households, and movers in reported average income $11,494 above movers out, a higher-income inflow composition signal but not proof of tenant demand. Realtor.com’s 2026-06 MLS evidence shows 512 active listings, 23.82% more than a year earlier; shorter marketing time and price reductions complicate that supply reading. Its listings are asking-market evidence, not closed sales. Investor-linked purchases were 153 of 3,311, or 4.62%, limiting the evidence of broad non-owner competition.

Inland flood is the stated dominant hazard, and modeled climate loss equals 0.11% of building value annually; that modeled loss measure should be considered with flood exposure rather than converted into a dollar estimate. The record lacks property-level flood-zone, elevation, insurance, condition and repair information, as well as closed-sale comparables, vacancy, operating expenses and financing terms. Those omissions prevent a net-yield, debt-coverage, resilience-adjusted value or exit-liquidity conclusion. Next review should test tax bills, insurance and flood mitigation by parcel, then verify achievable lease rent and recent closed sales.