Goodhue County presents a carry-cost-versus-income decision: its Zillow county observation for 2026-06 puts median home value at $332,386 against median asking rent of $1,297 per month, producing a reported 4.68% gross yield before expenses. Investors who can verify property-level operating costs should investigate; those needing a wide income cushion should be cautious. FHFA’s 2025 repeat-transaction HPI rose, directionally consistent with Zillow’s price change, but it is not a home value and its distinct vintage and method cannot be averaged with Zillow.
Measured market rent is supplied median asking rent. HUD’s two-bedroom FMR is a payment standard, not an asking-rent estimate. The supplied asking rent is 18.4% above that FMR, a calculation that does not alter reported gross yield. The 1.05% effective property-tax rate and $2,998 median annual tax are county-level carrying-cost checks against gross, not net, yield. Insurance, maintenance, vacancy, financing, assessed value, and comparable property rents are not published, preventing a net-yield or cash-flow conclusion.
At Realtor.com’s separate 2026-06 MLS observation, 153 active listings were 25.41% higher year over year. Median days on market fell, while the price-reduced share signals seller concessions; the pending ratio is a listings-flow measure, and neither establishes buyer demand. The 2025 annual QCEW workplace series reports 21,791 covered jobs at county workplaces, with Manufacturing the largest disclosed private supersector; it is neither resident employment nor unemployment. Net tax-return migration was slightly negative, while incoming mover income exceeded outgoing mover income. The 4.97% investor share is measured against purchase mortgages, indicating participation but not bidding intensity.
Dominant hazard is inland flood, and modeled expected annual building-value loss is 0.16%; the model is a risk indicator, not a property loss estimate. Flood-zone status, elevation, insurance quotes and deductibles are absent, so hazard pricing cannot be underwritten. Missing sale comps, unit mix, lease terms, vacancy, expense history and financing terms also prevent a conclusion on entry price, stabilized cash flow or resale liquidity. County aggregates cannot resolve neighborhood or building-condition differences.