Yamhill County presents a split price signal rather than a settled entry case. Zillow’s 2026-06 median home value was $511,653, down 1.39% year over year, while the FHFA repeat-transaction HPI increased 3.08% in its annual 2025 reading. The latter is an index, not a home value; its different method and vintage may challenge Zillow’s direction but cannot be averaged with it. Buyers underwriting durable rental income should investigate this divergence, while buyers relying on rapid resale should be cautious.
Measured median asking rent was $2,003 per month and the supplied gross yield was 4.70% before costs. HUD’s two-bedroom FMR is a payment standard, not a market-rent estimate, so it cannot replace the measured asking rent or support a separate yield calculation. The effective property-tax rate was 0.73%, a material carrying-cost input against the price/rent relationship. Net yield remains uncomputable: insurance, maintenance, vacancy, utilities, financing, and subject-property tax obligations are not published.
Listing-market evidence looks less tight, not necessarily weak closed-sale demand: active MLS inventory increased in Realtor.com’s 2026-06 observation, and 30.02% of listings had price reductions. These are asking-market supply and seller-concession measures, not sale prices or proof of buyer demand. QCEW’s 2025 annual reading covers jobs located at county workplaces; Education and health services was the largest disclosed private supersector, not the whole economy. Tax-return migration was net positive by 173 households, with an incoming-versus-outgoing average AGI gap of $16,427. Non-occupant investor purchase mortgages accounted for 5.16% of 1,066 purchases, a limited but identifiable buyer cohort.
Earthquake is the dominant hazard, and modeled climate loss equals 0.18% of building value per year; it is a modeled county-level loss ratio rather than a parcel loss estimate. That combination makes seismic condition, soil, retrofit history, deductible terms, and insurance availability key checks before relying on gross yield. Missing closed-sale and submarket rent-comp evidence prevents a precise acquisition-price or rent-stability conclusion; missing insurance quotes, building condition, and lease performance prevents a net-cash-flow conclusion. County aggregates also cannot identify block-level hazard exposure or tenant demand.