Perry County presents a mixed entry screen: Zillow’s 2026-06 county median home value was $230,216 and down 0.10% year over year, while FHFA’s annual 2025 repeat-transaction index rose 3.51%. These supplied observations have different methods and vintages, so they are not one appreciation series. Investigate properties where carrying costs and rent can be documented; be cautious about treating either as a current sale-price benchmark.
Housing economics are incomplete. No median asking market rent is published, so gross yield cannot be computed. HUD’s $973 per month FMR is a payment standard, not market rent, and cannot fill that gap. The effective property-tax rate is 0.95%, with median annual tax of $1,813; these identify a recurring charge but not insurance, repairs, financing, or a property-specific tax bill. Underwriting needs actual lease comps and parcel taxes.
Realtor.com’s MLS listing-market evidence shows active listings, a 51-day median marketing time, and 29.88% reduced in price. Active listings are visible supply, while marketing time and reductions describe selling conditions and seller concessions; none is a closed sale or independent proof of buyer demand. QCEW annual covered employment fell 1.61%, while average weekly covered-worker wage rose 4.30%; Education and health services was the largest disclosed private supersector, not the whole economy. Tax-return migration was a net inflow of 21 households, and inbound movers’ average income was $9,402 above outbound movers’; this small flow does not establish broad demand. Investors accounted for 5.26% of purchases, implying limited measured non-owner competition.
Risk limits matter: inland flood is the dominant hazard, and modeled expected annual building-value loss is 0.12%. This modeled ratio is not a property loss estimate; flood zone, elevation, drainage, insurance availability and deductible must be checked parcel by parcel. County evidence cannot establish neighborhood liquidity or tenant depth. Next checks are current market-rent and lease comps, insurance quotes, property-condition and flood records, closed-sale comps, and the property’s actual tax assessment; without them, cash flow, gross yield, and exit-value underwriting remain unproven.