Windham County’s tension is an apparently usable income return against subdued current value movement and rising visible listing supply. Zillow’s 2026-06 median home value was $372,148, up 0.28% year over year. FHFA’s repeat-transaction HPI, a price-change index rather than a home value, rose 1.96% in 2025. These different vintages and methods cannot be averaged. Cash-flow-oriented buyers should investigate rent durability; buyers underwriting quick appreciation should be cautious.
Against Zillow’s value, published median asking rent is $1,782 monthly, producing the supplied gross yield of 5.75% before vacancy, operating costs, financing and taxes. HUD’s two-bedroom FMR is a payment standard, not an estimate of asking rent, and cannot replace market rent in the yield calculation. The effective property-tax rate is 1.81%, requiring address-level assessment and exemption review. Missing vacancy, utilities, maintenance, insurance and debt terms prevent a net-yield conclusion.
Realtor.com’s 2026-06 MLS listing-market evidence shows 279 active listings, 19.27% above the prior-year level; median marketing time was 64 days and 9.06% of listings had price reductions. These are visible supply and seller-concession measures, not closed sales or proof of buyer demand. QCEW’s 2025 annual covered workplace employment fell 0.25%, while covered-worker average weekly wage rose 3.48%; neither is resident employment or an unemployment measure. Education and health services is the largest disclosed private supersector, not the entire economy. Tax-return migration was net negative by 34 households, although incoming movers reported higher average AGI. Non-occupant investors accounted for 51 of 416 purchase mortgages.
Inland flood is the dominant hazard, and modeled expected annual building-value loss is 0.13%, a county-level exposure measure rather than a property loss estimate. The combination of flood risk and tax burden makes insurance, drainage, elevation and assessed-value diligence material to carrying costs. Next checks are address-specific flood data, insurance quotes, condition, achievable rent comparables, vacancy and expense history. County evidence cannot establish a particular property’s rent, cost base or resale liquidity.