Haywood County presents a valuation-versus-demand tension: measured rent-to-price economics are available, but weakening covered employment and net out-migration warrant caution from buyers relying on stable local tenancy. Zillow’s county observation, labeled 2026-06, puts median home value at $175,946, up 1.06% year over year. The FHFA annual observation, labeled 2025, shows its repeat-transaction HPI down 3.59% year over year. These are different vintages and methods: FHFA is not a home value and does not confirm Zillow’s direction; the measures should not be combined.
The published monthly median asking rent is $922, and the reported gross yield is 6.29% before costs. HUD’s two-bedroom FMR is $925, a payment standard rather than an asking-rent estimate; it cannot replace market rent in yield work. The effective property-tax rate is 0.63%, with median annual tax of $952. This aligns a measurable gross rent-price screen with a known tax burden, but no operating expenses, insurance, financing terms, or vacancy evidence is published; net yield cannot be calculated.
Demand evidence is restrictive. The 2025 QCEW annual average shows county workplace covered employment fell 21.51%, while Manufacturing is the largest disclosed private supersector; this is not resident employment or an unemployment measure. Net migration was -102, although moving households entering had average AGI $922 higher than those leaving. Investor mortgages accounted for 19.23% of 104 purchases, so buyer competition is present but limited to that purchase-mortgage measure. Realtor.com’s MLS listing-market evidence shows median marketing time of 82 days and 25.74% of listings price-reduced; neither is a closed-sale price or proof of buyer demand alone.
Risk limits are material. Earthquake is the named dominant hazard, and modeled expected annual building-value loss is 0.21%; this model needs property-specific location, construction, insurance pricing and deductible review rather than treatment as an observed loss. Closed-sale comparables, lease-up and renewal performance, property condition, utility and maintenance costs, and insurance terms are not published. Their absence prevents validation of exit value, durable occupancy, and net cash flow; county-level measures cannot resolve parcel-level underwriting.