Perry County presents a split underwriting case: Zillow's slightly softer county value reading conflicts with earlier FHFA index appreciation, while visible listing supply and seller concessions warrant diligence. Buyers needing dependable current income or hazard certainty should be cautious; investigators should test property-level rent, flood exposure, and transaction comps. Zillow's 2026-06 median home value was $175,707, down 0.17% year over year. FHFA's 2025 repeat-transaction HPI rose 111.07% cumulatively over five years; it tracks matched transactions, not a dollar value, and cannot be blended with Zillow's differently dated measure.
Income underwriting is unclosed: market asking rent is not published, so gross yield cannot be computed. HUD's two-bedroom FMR is a payment standard, not market-rent evidence. The effective property-tax rate is 0.53%; each asset's actual tax bill still needs review. Realtor.com MLS evidence shows active listings increased year over year, and 13.66% of listings carried a price reduction. These are visible asking-market supply and concession measures, not closed-sale values or proof of buyer demand.
Demand evidence is mixed rather than comprehensive. QCEW's 2025 annual average covered employment at county workplaces rose 3.30%. Manufacturing, the largest disclosed private supersector, comprised 34.88% of private covered jobs. This is neither resident employment nor an unemployment measure. Net migration was 75 tax-return households, while incoming movers' average income exceeded outgoing movers' by $9,069. Investor share was 4.76% of 42 total purchases, a measured buyer segment rather than the full buyer mix.
Risk limits remain material: inland flood is the dominant hazard, and modeled climate loss equals 0.32% of building value per year. This is not a parcel-specific flood quote. Missing closed-sale comps, market rent, vacancy, operating expenses, insurance, flood-zone and claims data, and property-specific taxes prevent yield, cash-flow, and hazard-pricing conclusions. Next checks are lease comparables, insurance and flood records, tax bills, and sale comps.