Greenlee County presents a price-versus-income-and-risk tension: Zillow’s county median home value was $158,770 in June 2026, down 13.36% year over year, while there is no rent observation to test whether the lower price improves income economics. The record therefore fits underwriters who can verify leases, insurance, and parcel conditions, and calls for caution where an acquisition case depends on a modeled yield or quick resale. This is a county-level value signal, not a closed-sale series.
Housing economics remain unmeasured rather than cheap by proof. Market asking rent is not published, so gross yield cannot be computed. HUD’s two-bedroom FMR is $1,158 per month, but it is a payment standard, not asking rent and cannot substitute for it. The effective property-tax rate is 0.33%, with a $518 median annual tax; those figures inform carrying costs but do not establish maintenance, insurance, vacancy, or debt costs.
Demand evidence is mixed and thin. Migration was net positive by 8 tax-return households, but movers arriving averaged $9,264 less income than those leaving; neither measure establishes housing demand. Of 31 purchase mortgages, none were to non-occupants, producing a 0.00% investor share in this measure; that indicates no observed investor participation, not no cash or unrecorded competition. In 2025, QCEW annual covered employment at county workplaces fell 3.12%, while covered-worker weekly pay averaged $1,823, up 7.49%. Trade, transportation, and utilities was the largest disclosed private supersector, rather than a description of the entire economy.
Inland flood is the dominant stated hazard, and modeled annual climate loss equals 0.28% of building value. That county-level model should be paired with parcel flood-zone, elevation, claims, insurance-availability, and mitigation review; it is not a property loss estimate. FHFA annual HPI is not supplied, so Zillow’s June 2026 direction lacks a repeat-transaction cross-check. Realtor.com listing price, inventory, days-on-market, and reductions are also not published for June 2026, preventing an MLS-based reading of asking-price competition, visible supply, marketing time, or seller concessions.