Leavenworth County presents a tension between a rising Zillow home-value measure and an income base that produces only a pre-cost gross yield, so income-focused buyers should investigate property expenses and flood exposure, while buyers relying on resale momentum should be cautious. In Zillow’s county observation labeled 2026-06, median home value was $355,416, up 4.9%, and median asking rent was $1,329. The supplied gross yield is 4.49% before operating costs, financing, taxes, insurance, or vacancy.
Market asking rent—not HUD policy rent—is the basis of that yield. The supplied comparison places market rent at 97.9% of the $1,358 HUD two-bedroom Fair Market Rent, which is a payment standard rather than an asking-rent estimate. The effective property-tax rate is 1.21%, with median annual tax of $3,424; those carrying costs sit outside gross yield. Separately, the FHFA repeat-transaction HPI rose 4.36% in annual 2025 data. It corroborates Zillow’s positive direction across a different method and vintage, but is not a dollar home value and cannot be combined with Zillow’s change.
Realtor.com’s MLS evidence shows more active listings and a 14.57% price-reduced share. Active listings are visible asking-market supply, while reductions are seller concessions; neither is a sale price nor independently establishes buyer demand. QCEW annual covered employment at county workplaces declined year over year; its average wage is a covered-worker measure, and Trade, transportation, and utilities is only the largest disclosed private supersector, not the whole economy. Net migration is positive, but inbound movers’ average AGI is only $499 higher than outbound movers’. Investors represented 6.61% of 1,074 purchases, a present but non-dominant buyer segment.
Inland flood is the dominant hazard, and modeled annual building-value loss is 0.11%; it is a county-level model, not a site-specific insurance or damage estimate. Missing published closed-sale prices, vacancy, operating expenses, insurance premiums, debt terms, and parcel-level flood and condition evidence prevents a net-yield, affordability, and exit-price conclusion. Next checks are the parcel flood zone and insurance quote, lease and turnover history, tax bill, operating statements, and comparable closed sales.