Tehama County presents a gross-yield screen that is stronger than its visible resale-market signals, so it warrants property-level investigation rather than a county-wide conclusion. Zillow’s 2026-06 median home value was $327,037, up 2.83% year over year. FHFA’s separate 2025 annual repeat-transaction HPI rose 2.46%; it corroborates positive direction but is an index, rather than a home value, and cannot be combined with Zillow into a single appreciation rate. Buyers relying on resale liquidity should be cautious.
Published median market asking rent was $1,593 per month, supporting the stated 5.85% gross yield before operating costs. That is measured market rent; it is 17% above the $1,362 HUD two-bedroom Fair Market Rent, which is a payment standard—not asking rent—and was not used to infer yield. The effective property-tax rate was 0.62%, with a $2,118 median annual tax. Those county figures do not establish a parcel’s assessment, insurance, maintenance, vacancy, or NOI.
Realtor.com’s 2026-06 MLS listing market complicates the price reading: median listing price fell 5.30%, active listings declined, median marketing time was 62 days, and 17.03% of listings had price reductions. These are asking-price, visible-supply, marketing-time, and concession indicators, not closed-sale prices or standalone proof of buyer demand. Tax-return migration recorded net outflow, although arriving movers reported higher average AGI than departing movers. Investor mortgages were 30 of 542 purchases, a 5.54% share; that observed participation does not identify cash buyers.
Inland flood is the dominant hazard, and modeled climate loss is 0.45% of building value per year; it is not a property-specific loss estimate. QCEW’s 2025 annual record shows falling covered employment at county workplaces while average covered-worker wages rose; Trade, transportation, and utilities is the largest disclosed private supersector, not the whole economy. Check flood zone, insurance, elevation, lease comps, operating costs, parcel tax, and closed-sale comps; their absence prevents an NOI, insurance, and exit-value conclusion.