Oil City, PA

Oil City, PA is evaluated at the supplied metropolitan or micropolitan statistical-area geography as a decision case rather than as a ranked market. Zillow does not publish a trailing-12-month rent change for the provided series. The 12-month rent change is therefore unavailable, and this report assigns no score and no rank. That omission is consequential: current rent, home-value, income, sales-market, migration, mortgage, labor, permitting, and hazard measures answer different questions than rent momentum. The available evidence frames unresolved diligence for a renter, landlord, or small investor, but it does not establish a direction for rents or an overall market conclusion. Each observation also carries its own source scope and reporting period.

At June 30, 2026, Zillow reports a $982 asking-rent index and a $134,454 home-value index. The supplied gross-yield measure is 0.0876, or 8.76% when expressed as a percentage. Zillow's home-value index had a year-over-year change of -0.0009, equivalent to -0.09%, while no corresponding trailing-12-month rent change is available. This creates an important asymmetry: the packet permits a current rent-to-value reading and a stated home-value change, but it does not permit a matched rent-growth reading. Zillow's measures are asking-rent and home-value indexes, not a completed lease roll, operating statement, or transaction-level appraisal set. The gross yield is therefore a gross rent-to-value measure rather than evidence about net income after costs.

Census ACS places the income context around the Zillow observations: median household income is $61,522, the supplied rent-to-income measure is 0.1915, and price-to-income is 2.19. HUD's FY2026 two-bedroom Fair Market Rent is $973. Zillow's $982 asking-rent index is $9 above that HUD benchmark, and the provided rent-versus-FMR ratio is 1.009. This is a narrow but useful boundary, not a direct match between identical housing types. Census ACS describes household income, HUD supplies a two-bedroom Fair Market Rent benchmark, and Zillow supplies an asking-rent index. Their proximity does not establish the burden faced by a particular household, the rent paid by an existing tenant, or the availability of units at the HUD benchmark.

Labor, permitted construction, and resale indicators present a mixed set of current conditions. BLS LAUS reports metro employment change of -0.0062 over the 12 months through 2026-05. Census Building Permits Survey data show 52 total permitted units through 2026 M06, 0 permitted units in buildings with five or more units, 1.04 permits per 1,000 people, and a 0 share for five-or-more-unit permits. Redfin, as of 2026-05-01, reports 6.9 months of supply compared with a prior 3.8, an increase of 3.1 months. Yet median days on market were 53 versus a prior 70, while the sale-to-list ratio was 0.9605 and the price-drop share was 0.2246 versus 0.2388 previously. More listed resale supply, shorter market time, and a lower price-drop share do not resolve into one simple reading. Census Building Permits captures authorized new supply, whereas Redfin captures the active for-sale market; neither measure is a direct rental-vacancy count.

IRS migration evidence records 843 movers in and 914 movers out, for net migration of -71. The reported adjusted gross income value for movers in is $49,497, compared with $44,267 for movers out, a supplied gap of $5,230. The tension is clear in the records: the net count is negative while the reported in-migrant AGI measure exceeds the out-migrant measure. IRS county-to-county tax-return migration, aggregated to the market, is not a lease-demand ledger or a measure of every household move. HMDA adds a separate purchase-mortgage occupancy lens. In 2024, HMDA records 280 total purchase mortgages, including 10 investor purchases, for an investor share of 0.0357, or 3.57% of those observed purchases. HMDA's mortgage scope makes this evidence distinct from a marketwide census of buyers, cash purchasers, landlords, or renters.

FEMA introduces a physical-risk boundary that the rent and value indexes cannot answer. FEMA's National Risk Index identifies inland flood as the top hazard, classifies it as water risk, reports a National Risk Index score of 55.6, and provides a climate-loss ratio of 0.001456. FEMA's National Risk Index is expected-annual-loss evidence at its reported geography; these fields do not state a building's flood exposure, insurance price, realized loss, drainage condition, or repair requirement. The packet's housing price-and-rent-level evidence consists of Zillow's current indexes and HUD's Fair Market Rent benchmark, not insurance, property-tax, maintenance, or repair-cost observations. As a result, the stated Zillow gross yield remains a gross measure and cannot resolve net carrying costs or risk-adjusted economics.

The practical synthesis is a set of consistency checks rather than a rent, purchase, or ranking conclusion. A renter's open question is whether current available units with comparable bedroom count, lease term, and concessions align with Zillow's asking-rent index and the HUD two-bedroom benchmark. A landlord or small investor faces separate unresolved questions about realized rent, vacancy, turnover, operating costs, insurance terms, and the relation between an individual acquisition and Redfin's aggregate resale indicators. Construction diligence remains distinct: the 52 permits and zero five-or-more-unit permits do not identify unit types, completion timing, or occupancy. Timing also needs to remain explicit: Zillow is dated 2026-06-30, BLS covers the 12 months through 2026-05, Census Building Permits runs through 2026 M06, Redfin is dated 2026-05-01, HUD is FY2026, and HMDA is 2024. With Zillow's trailing-12-month rent change unavailable, the packet cannot test current rent against recent rent momentum and does not support a score or rank.