Washington County presents a carry-versus-exit tension: Zillow’s $335,497 median home value and stated 5.16% gross yield before operating costs sit beside softer current MLS listing evidence. Income-focused buyers should investigate expenses and unit condition; buyers whose case requires quick resale or value growth should be cautious. This is county-level screening, not a property valuation.
At the Zillow county observation labeled 2026-06, median asking rent was $1,444 per month, up 3.01%, while Zillow’s median home value rose 1.17%. The published market-rent reading is above HUD’s two-bedroom FMR, but FMR is a payment standard, not an asking-rent estimate. The stated gross yield excludes costs. An effective property-tax rate of 0.84% narrows the gap between headline yield and net cash flow; parcel tax bills and assessments are not published.
Realtor.com’s 2026-06 MLS market shows seller friction: active listings increased 40.2%, median listing price fell 5.34%, and 20.43% of listings carried price reductions. These are asking-price, visible-supply and concession measures—not sales prices or proof of demand. Longer marketing time calls for property-specific negotiation assumptions. Net migration was 196 tax-return households, but incoming movers averaged $585 less AGI than outgoing movers: a positive count without an income premium. Investors were 180 of 1,636 purchases, or 11%; relevant competition, but not proof of institutional demand in every submarket. The annual QCEW series reports county workplace covered employment and covered-worker wages; Trade, transportation, and utilities is the largest disclosed private supersector, not the entire economy.
Risk remains outside the yield calculation. The 2025 FHFA repeat-transaction HPI rose 3.28%, consistent in direction with Zillow’s positive 2026-06 measure but not directly comparable: it is an index change rather than a dollar value, from a different vintage and method, and should not be blended with Zillow. Modeled annual climate loss equals 0.07% of building value, with inland flood the dominant hazard, so parcel flood exposure, insurance terms and deductible availability can change results. Missing vacancy, lease-renewal, operating-expense, financing, closed-sale, and parcel flood data prevents a net-yield, resale-price, or property-specific hazard conclusion.