Crawford County

Crawford County scores 75 overall and ranks first in Wisconsin out of 72 counties, placing it in the 93rd percentile nationally across 1,000 counties ranked. Those headline numbers demand context, because the underlying mechanics are lopsided in a specific way that matters for underwriting. The appreciation score is 90, home prices rose 6.43% year-over-year to a median of $235,640, and the affordability index sits at 80, meaning purchase prices remain accessible relative to income. But the cash-flow score is 0. The investment estimate carries zeroed-out cap rate, cash-on-cash return, and net cash flow fields, which is the model's way of flagging that the income side of the equation does not clear the bar at current prices and a 6.85% rate. Crawford is, by the numbers, a pure appreciation play, not a yield play.

That framing tells you exactly which investor this county is and is not for. If you need monthly cash flow to service the deal or feed an operating portfolio, Crawford County does not pencil. The cap rate of 0 is not an underwriting oversight, it reflects a price-to-rent relationship that leaves no margin at a 20% down payment and a 6.85% mortgage. The investor who belongs here is one buying for equity accumulation, comfortable carrying a neutral or slightly negative position in exchange for 6%-plus annual appreciation, or one willing to wait on a value-add basis, buying below median in a market where the median itself is rising. A shorter-term hold aimed at forced appreciation through renovation and a sale, rather than a refinance into a cash-flowing rental, is a more coherent strategy here than a simple buy-and-hold rental at ask.

No economic anchor employers or economy note were provided in the data, so the demand-side story behind Crawford's 6.43% price growth cannot be attributed to a named employer or industry here. What the data does show is a stability score of 50, which is middling. That score, combined with a county population of just 16,123, points to a thin market where demand is present enough to push prices but not deep enough to guarantee reliable tenant pools, low vacancy, or liquidity at exit. Small, rural Wisconsin counties can see outsized appreciation driven by in-migration, recreational demand, or land scarcity, none of which are reflected in the provided data, but any of which could explain the 90 appreciation score. Underwrite conservatively on absorption time and tenant replacement.

On carry costs, the $408 per month combined tax and insurance figure is a real line item that reshapes whatever income the property does generate. Property taxes are estimated at $4,359 annually using a 1.85% state-average effective rate, sourced from Tax Foundation 2024 data, and the county or township rate may differ, so pull the actual assessor data before closing. At 1.85%, Wisconsin's rate is high enough to deserve its own line on your underwrite and not be lumped into a generic expense ratio. Insurance adds another $542 annually, or $45 per month, at a 0.23% rate, which is relatively benign. The combined $408 monthly carry hits harder in a zero-cap-rate environment because there is no yield cushion to absorb it. An investor targeting this county needs to model that $408 against gross rents before assuming any break-even position.

The concentrated risk here is straightforward: a 16,123-person county with a 50 stability score and no cash flow means you are holding for one outcome, price appreciation, in a thin market. If appreciation slows or reverses, you have no income to offset your carry, and your exit market is narrow. Regulatory and demographic risks are not addressable from the provided data, but small rural markets often carry their own liquidity constraints that do not show up until you need to sell.

Against its neighbors, Crawford's case rests on its appreciation trajectory and lower entry point relative to Trempealeau ($279,244) and Marquette ($257,231), while carrying a higher overall score than all five comps. Clark County at $211,676 and Marinette at $205,028 are cheaper, but both score 73 and 72 respectively versus Crawford's 75. Shawano at $258,748 scores 74 with a higher price, making Crawford the better value on a score-per-dollar basis among the group. Choose Crawford over these neighbors when appreciation potential is the primary investment thesis and you can carry the position without relying on rental income to cover costs. Choose Clark or Marinette if lower acquisition cost and a possible path to better rent coverage matters more than maximizing price growth.