Pershing County presents a value-decline-versus-income-concentration decision: income-property underwriters should be cautious until property-level rents and flood costs are known. The Zillow county median home value is $238,571, down 3.09% year over year. That is a value estimate rather than a closed-sale price. No FHFA annual repeat-transaction HPI observation is published, so it cannot corroborate or challenge Zillow’s direction, and the measures cannot be combined.
Carrying costs are only partly observable. The effective property-tax rate is 0.62%, and median annual property tax is $1,109. HUD’s two-bedroom FMR is $985 per month, but this is a payment standard, not a measure of asking rent. Market rent is not published, so gross yield cannot be computed; FMR should not be substituted for rent in a yield calculation.
QCEW’s annual county workplace data show covered employment grew 6.90%, while average weekly covered-worker pay was $1,676. Natural resources and mining represented 72.84% of disclosed private covered employment, concentrating exposure in one supersector rather than describing the entire economy. Tax-return migration was negative, with 127 moving in and 168 moving out, for net migration of -41. Average income was $48,811 for inbound movers versus $61,565 for outbound movers, a $12,754 gap. The record reports nil investor share alongside 35 total purchases, limiting evidence of investor competition but not establishing cash-buyer activity or bidding pressure.
Inland flood is the dominant recorded hazard, and the modeled climate-loss ratio is 0.16% of building value annually. This is a county-level expected-loss measure, not a parcel-specific flood or insurance estimate. Realtor.com MLS listing price, active inventory, days on market, and price-reduction figures are not published, preventing a conclusion about visible supply, marketing time, or seller concessions. Next checks are market-rent and lease comps, parcel flood and insurance evidence, tax assessment details, and MLS listing histories and closed-sale comparables.