Summit County presents a high-basis, low-current-income tension: a $1,339,411 Zillow median home value against a $3,777 monthly median asking rent and a stated 3.38% gross yield. This is a county for investors who can test property-specific rent durability and costs, not for those relying on the headline yield alone. Zillow’s county observation is 2026-06; it supplies the current valuation-and-rent frame, not a transaction closing price.
The measured rent is market asking rent, and the gross yield is annual market rent before costs; neither is HUD Fair Market Rent. HUD’s $2,185 FMR is a payment standard, not an asking-rent estimate, so it cannot substitute for the published rent. The 0.35% effective property-tax rate adds a carrying-cost input, but insurance, vacancy, maintenance, financing and utilities are not published; net yield and cash coverage therefore cannot be calculated.
Price direction is positive by two distinct measures but cannot be blended. Zillow’s 2026-06 home-value reading was up 3.40% year over year, while FHFA’s 2025 repeat-transaction HPI was up 2.18% annually and 59.84% cumulatively over five years. FHFA is an index, not a home value, and its period differs from Zillow’s. In annual QCEW workplace data, leisure and hospitality is the largest disclosed private supersector at 39.69% of private covered jobs; this is industry concentration, not the whole economy or resident employment. Tax-return migration was net negative by 168 households, although incoming movers had higher average AGI than outgoing movers. Meanwhile, 95 of 726 purchase mortgages, or 13.09%, went to non-occupants—participation evidence, not proof of bidding pressure.
Inland flood is the named dominant hazard, and modeled expected annual building-value loss is 0.20%; parcel exposure, elevation, deductible and insurance availability remain untested. Realtor.com MLS fields for listing price, active supply, days on market, reductions and pendings are absent, preventing a listing-market read on visible supply or seller concessions. Closed-sale comps, operating costs and property condition are also absent, preventing net-yield, liquidity and resilience conclusions beyond county-level screening.