Sarpy County, NE

Sarpy County’s underwriting tension is a published 4.87% gross yield on a $361,009 median home value, against carrying-cost and inland-flood uncertainty that can consume a meaningful share of rent. The independently measured $1,466 monthly median asking rent makes a revenue screen possible, but the yield is before taxes, insurance, vacancy, repairs and management. Investigate acquisitions with property-level flood and expense records; buyers relying on headline yield or a county average should be cautious.

In Zillow’s 2026-06 county observation, median home value increased 2.06% year over year while median asking rent increased 1.79%, leaving income growth slightly behind value growth. HUD’s two-bedroom FMR is a payment standard rather than asking rent and must not replace the published market-rent measure. The 1.74% effective property-tax rate adds a known burden to that gross-yield screen. Separately, the FHFA repeat-transaction HPI increased 3.08% in 2025; it corroborates an upward price direction but is not a home value and cannot be blended with Zillow’s differently dated measure.

Realtor.com’s MLS listing market shows 540 active listings, down 16.49% year over year, and a pending-to-active ratio of 113.99%. That is evidence of constrained visible supply and transaction pipeline, not closed-sale pricing or stand-alone proof of buyer demand; marketing time and seller reductions still require submarket review. QCEW’s annual covered workplace employment increased 3.14%; Trade, transportation, and utilities is the largest disclosed private supersector, not the whole economy. Net migration was 759 tax-return households, although inbound movers’ average AGI was $1,945 below outbound movers’. The supplied non-occupant purchase-mortgage segment is 209 of 3,251, or 6.43%, defining one buyer segment rather than all competition.

The modeled climate-loss ratio is 0.13% of building value per year and aligns with inland flood as the dominant hazard, but it is not an insurance quote or a property loss estimate. Missing flood-zone, elevation, claims, premium, deductible and mitigation data prevent a site-level flood-cost conclusion. Missing achieved rents, lease terms, vacancy, operating costs, financing terms, condition and closed-sale comparables prevent net-cash-flow and exit-value conclusions. Verify these records alongside tax bills and MLS comparables before treating county evidence as parcel underwriting.