Okeechobee, FL

Okeechobee, FL is assessed here as the supplied metropolitan-or-micropolitan statistical-area market, with a population of 40,816. The decision frame is deliberately narrow: a point-in-time Zillow rent/value reading, Census and HUD affordability benchmarks, BLS labor evidence, Census Building Permits and Redfin market measures, IRS migration, HMDA purchase-mortgage occupancy evidence, and FEMA risk data. These sources observe different populations and time windows, so their apparent tensions are material rather than defects to be averaged away. Zillow does not publish the required trailing-12-month rent change for this market. That 12-month rent change is unavailable, so Okeechobee is unranked and this report assigns neither a score nor a rank; it treats the available information as a diligence record rather than a directional market verdict.

At June 30, 2026, Zillow’s asking-rent index is $1,825 and its home-value index is $291,266. The home-value index is 0.49% above its year-earlier level, while no corresponding 12-month Zillow rent change is available. The supplied gross yield is 7.52%, a rent/value screen that should not be read as an operating return: it excludes any expense, financing, vacancy, or property-specific condition evidence not present here. Zillow’s scope is asking-rent and home-value indexes, not a record of executed leases, household budgets, or individual sale contracts. Thus, the price reading supplies a measured annual value change, but it cannot fill the missing rent trend or establish the economics of a particular unit.

Census ACS places median household income at $57,984. Against that benchmark, the supplied rent-to-income measure is 0.3777 and the price-to-income measure is 5.02. HUD’s FY2026 two-bedroom Fair Market Rent is $1,346; Zillow’s $1,825 asking-rent index exceeds it by $479, or 35.6%, matching the supplied 1.356 rent-versus-FMR ratio. This is an affordability boundary, not a market-wide burden finding. Census ACS median income, HUD’s two-bedroom Fair Market Rent, and Zillow’s asking-rent index have different constructs and coverage. They can show that the displayed benchmarks are separated, but they do not show the size, lease terms, incomes, or assistance status of any renter.

Labor, permitting, and resale evidence do not align into one simple supply signal. BLS LAUS reports a 1.18% job decline over the 12 months through May 2026. The Census Building Permits Survey records 76 permitted homes year-to-date through June 2026, including zero in buildings with five or more units, and 1.86 permits per 1,000 people. Permits are authorizations, not completed or occupied housing. Redfin’s May 1, 2026 for-sale snapshot shows 7.2 months of supply versus 8.6 in its prior reading, a 1.4-month difference; yet median days on market are 167 versus 66, a 101-day difference. The sale-to-list ratio is 0.9524, while the price-drop share is 0.2431 versus 0.3023 previously, a decline of 0.0592. Lower measured supply, longer marketing time, below-list sales, and fewer reductions are coexisting observations, not grounds for a single market-direction inference.

IRS county-to-county tax-return migration, aggregated to the market, records 1,275 moved-in returns and 1,032 moved-out returns, for net migration of 243. The reported adjusted gross income is $53,421 for in-movers and $49,838 for out-movers, a $3,583 gap. This is evidence about the tax-return flows captured by IRS, not a census of every mover or a measurement of rental demand. HMDA’s 2024 purchase-mortgage occupancy evidence identifies 420 total purchases and 18 investor purchases, an investor share of 0.0429. HMDA does not settle the role of cash purchases, all rental ownership, or investor activity outside its reported purchase mortgages. Positive IRS net migration, the BLS job change, and the HMDA investor share measure distinct subjects and periods; none converts the others into a demand forecast.

FEMA’s National Risk Index names inland flood as the top hazard and classifies it as water. Its reported risk score is 80.3 and its climate-loss ratio is 0.003304, providing area-level expected-annual-loss evidence. These figures do not identify exposure at a particular address or quantify insurance premiums, deductibles, repairs, taxes, or maintenance. For housing-cost context, the packet contains Zillow’s $1,825 asking-rent index and HUD’s $1,346 two-bedroom Fair Market Rent; its acquisition-level context is Zillow’s $291,266 home-value index. Those levels frame the decision context, but they are not insurance or maintenance estimates and cannot be used to translate FEMA’s regional risk evidence into a property-level cash-flow adjustment.

The usable synthesis is a set of unresolved comparisons. Zillow offers a current rent/value relationship and a 0.49% annual home-value change, but no 12-month rent trajectory. Census ACS and HUD show separated income, Fair Market Rent, and asking-rent benchmarks without proving a shared household or unit profile. BLS, Census Building Permits, and Redfin show job change, permitted supply, inventory, market time, sale-to-list, and price-reduction measures that move on different definitions and dates. IRS and HMDA provide migration and financed investor-participation context, while FEMA identifies a regional flood-risk screen without operating-cost data. The next factual questions are whether the Zillow rental mix matches the HUD two-bedroom benchmark, how the Redfin listing mix relates to the permit counts, what tenure is represented by IRS movers, and what location-specific flood and insurance records show. Until those questions are answered, no score, rank, buy, sell, or rent conclusion follows from this packet.