Union County presents a valuation-versus-liquidity tension for investors who need durable income rather than a price-only entry point. Zillow’s county median home value was $127,395 in 2026-06, up 1.47% year over year, while FHFA’s repeat-transaction HPI fell 0.35% in 2025. These are different methods and labeled periods, so they cannot be merged into one appreciation reading. Buyers dependent on near-term resale should investigate the divergence before treating the Zillow movement as confirmation.
Housing economics remain untestable on the central income measure: market rent is not published, so gross yield cannot be computed. The supplied HUD two-bedroom FMR is a payment standard, not an estimate of local asking rent, and cannot substitute for market rent. The reported effective property-tax rate is 0.57%, with median annual tax of $685; these county indicators do not establish an individual parcel’s tax bill. Parcel assessments, bills, and reassessment exposure are needed for carrying-cost underwriting.
Demand and buyer competition warrant local verification. Realtor.com MLS active listings were 25.40% higher year over year, which is visible supply evidence rather than a closed-sale price or proof of buyer demand. QCEW annual covered workplace employment declined 2.34% in 2025; this is neither resident employment nor an unemployment measure. Tax-return migration was negative 151 households, while mover AGI averaged $50,438 inbound versus $52,655 outbound. Investor purchase mortgages were 30 of 280 purchases, or 10.71%, defining a measurable non-occupant channel but not its bidding intensity.
Inland flood is the dominant hazard, and modeled climate loss equals 0.13% of building value annually; it is a modeled expectation, not a property-specific insurance quote or dollar loss. Address-level flood exposure, insurance premiums, deductibles, lease comparables, vacancy, operating expenses, and closed-sale comparables are not published here. Without rent and expense evidence, income return cannot be underwritten; without closed sales, MLS listings cannot establish exit pricing. Those gaps are especially important where Zillow and FHFA provide conflicting annual direction.