Spotsylvania County, VA

Spotsylvania presents a price-to-rent and carrying-cost tension: Zillow’s county median home value is $463,508 while median asking market rent is $2,120 monthly, and the supplied gross yield is 5.49% before operating costs. The yield uses measured market rent, not a subsidy benchmark, so it is a screening measure rather than net cash flow. Buyers able to verify property-level expenses and rental durability should investigate; those relying on appreciation or untested flood costs should be cautious.

An effective property-tax rate of 0.58% and a median annual tax bill of $2,347 are carrying-cost inputs, but neither establishes a specific parcel’s assessment or tax bill. HUD’s $2,246 Fair Market Rent is a payment standard, not an estimate of asking rent; it is above the measured market rent and cannot replace that rent in a yield calculation. Insurance, maintenance, vacancy, and financing costs are not published, preventing a net-yield conclusion.

The record shows net migration inflow, with incoming movers’ average AGI exceeding outgoing movers’ by $3,898; this is a lead on mover profile, not proof of household formation or demand for a target submarket. In Realtor.com’s MLS listing market, 440 active listings were up 15.79%, while 16.78% had price reductions. These are visible supply and seller-concession evidence, not closed-sale prices or buyer demand by themselves. QCEW identifies trade, transportation, and utilities as the largest disclosed private supersector; its annual covered-workplace jobs are neither resident employment nor a forecast.

Zillow’s value reading cannot be merged with FHFA’s separate annual index: FHFA rose 1.06% annually and 51.27% cumulatively over five years. That repeat-transaction HPI is not a home value and does not create a common growth rate with Zillow. Inland flood is the dominant hazard; modeled annual climate loss equals 0.09% of building value, requiring parcel-specific exposure and insurance review. The record reports 98 investor purchases among 2,241 total purchases, a 4.37% share; that participation measure does not identify cash buyers or target property competition. Missing lease comps, condition, flood zone, insurance quotes, and closed-sale comparables prevent property-level income, loss, and exit underwriting.