Franklin County’s decision tension is income holding firmer than the Zillow county value signal. In Zillow’s 2026-06 observation, median home value was $246,770, down 1.8% year over year, while median asking rent was $1,151 monthly, up 1.83%; supplied gross yield was 5.6% before costs. Income-oriented buyers should investigate unit durability; appreciation-dependent buyers should be cautious.
Rent is measured market asking rent. HUD’s two-bedroom FMR is a payment standard, not an asking-rent estimate. The effective property-tax rate is 0.79%, with median annual tax of $1,716, a carrying cost against pre-cost yield. Separately, FHFA’s repeat-transaction HPI rose 1.59% in 2025; it is an index, not a home value, and cannot be blended with Zillow’s value change. Insurance, maintenance, vacancy, financing and operating costs are not published, preventing net-yield or cash-flow underwriting.
Realtor.com supplies MLS listing-market evidence, not sales. In its 2026-06 inventory reading, median listing price fell 3.58% year over year while active listings rose 19.42%; median marketing time was 48 days. Price cuts add seller concessions. Visible supply, longer marketing and concessions support conservative purchase-price and exit assumptions, but do not prove buyer demand. Tax-return migration was net positive, though incoming mover income was below outgoing mover income. Investor mortgages were a minority of total purchases, so competition exists without proof of price-setting investor demand. QCEW covered workplace employment rose 1.41%; it is not resident employment.
Inland flood is the dominant hazard; modeled expected annual building-value loss is 0.16%. This aligns directionally with the hazard but is not a parcel determination. The thesis could fail if flood insurance erodes yield, listing concessions become closed-sale weakness, or movers’ lower average income does not sustain rents. Obtain parcel flood zones and insurance quotes, achieved rents and turnover, tax assessments, condition reports, and closed-sale comparables; their absence prevents asset-specific expense, valuation and liquidity underwriting.