Kanawha County presents a cash-flow-versus-demand tension. Zillow's 2026-06 county figure puts median home value at $159,219, up 1.45%, while median asking rent is $1,300 per month, up 4.62%; supplied gross yield is 9.8%. The combination favors cash-flow buyers who can verify operations and tenant performance, but cautions appreciation-dependent buyers. Rent growth exceeds price growth, yet this record does not establish durable demand, resale liquidity, or whether yield survives property-level costs.
Housing economics are attractive before costs, not conclusive after them. That market rent is 25.5% above HUD's $1,036 two-bedroom FMR. FMR is a payment standard, not an asking-rent estimate. The effective property-tax rate is 0.65%, reducing gross yield; insurance, repairs, vacancy, management, financing, and utilities are not published. FHFA's 2025 repeat-transaction HPI rose 1.84% over its annual interval and 34.29% cumulatively over five years. That index is not a home value, and its vintage and method should not be averaged with Zillow's 2026-06 observation; it supports direction, not a valuation.
Demand and competition are less settled. Tax-return movers show negative net migration, and average AGI was $47,771 for inbound households versus $61,881 for outbound households. That warns about the depth and income mix of local demand, but is not a forecast. QCEW covers annual jobs located in the county, not resident employment: employment fell 2.59% while average weekly wage rose 4.03%. Education and health services is the largest disclosed private supersector, not the whole economy. Realtor.com MLS evidence shows more visible supply, longer marketing time, and seller price reductions; these are listing signals, not closed-sale demand. A 6.95% investor share of purchase mortgages indicates nonoccupant competition exists but is not dominant.
Inland flood is the principal risk limit. The modeled climate-loss measure is not a property-specific flood quote or cash expense, so it cannot settle insurability, deductibles, claims history, drainage, elevation, or financing. Next checks are closed-sale comparables, achieved collections, vacancy, property-level taxes and insurance, and parcel flood-zone records. Missing operating expenses, financing terms, property condition, flood history, and unit-level rent evidence mean this record supports gross-yield screening but not net cash flow, DSCR, or a risk-adjusted purchase conclusion.