{"area":{"county":"Cass County","state":"IN","stateName":"Indiana","slug":"cass-in","metro":null},"homeValue":{"series":[{"date":"2021-04-01","value":115431},{"date":"2021-07-01","value":119370},{"date":"2021-10-01","value":123464},{"date":"2022-01-01","value":128152},{"date":"2022-04-01","value":132151},{"date":"2022-07-01","value":133800},{"date":"2022-10-01","value":134411},{"date":"2023-01-01","value":136155},{"date":"2023-04-01","value":139676},{"date":"2023-07-01","value":141618},{"date":"2023-10-01","value":144102},{"date":"2024-01-01","value":146542},{"date":"2024-04-01","value":148475},{"date":"2024-07-01","value":151226},{"date":"2024-10-01","value":153430},{"date":"2025-01-01","value":154231},{"date":"2025-04-01","value":155458},{"date":"2025-07-01","value":155673},{"date":"2025-10-01","value":158471},{"date":"2026-01-01","value":160477},{"date":"2026-04-01","value":160947}],"latest":160947,"yoy":3.5308572090210864,"fiveYr":39.43134859786366,"sinceStart":273.8693117145578,"modeled":true},"rent":{"series":[{"date":"2026-11-01","value":1014}],"latest":1014,"yoy":null,"fiveYr":null,"sinceStart":null,"modeled":true},"census":{"medianIncome":56403,"population":37680,"povertyRate":13.236652001520829,"medianHomeValue":133800,"medianGrossRent":783,"medianPropertyTax":910},"hud":{"county":"Cass County","year":"2027","perUnit":1014,"bedrooms":2,"estimated":false,"baseBedrooms":2},"crime":{"scope":"state","state":"Indiana","period":"10-2024 to 09-2026","window":{"from":"10-2024","to":"09-2026","fellBack":false},"violentCrime":{"total":29043,"ratePer100k":208.24331779365764},"propertyCrime":{"total":123972,"ratePer100k":888.900616104236},"note":"State-level totals from the FBI CDE summarized offense endpoint."},"crimeVintage":{"from":"10-2024","to":"09-2026","fellBack":false},"priceToRentRatio":13.2,"ratioVerdict":"Favorable for buying — price-to-rent favors owning (modeled investor cash flow is negative, so this is owner-occupant math — it is not a claim of strong rental yield)","priceCagr":6.874978040535429,"rentCagr":3,"cashFlow":{"price":160947,"monthlyRent":1014,"grossRent":1014,"downPct":20,"ratePct":6.75,"units":1,"state":"IN","down":32189.4,"loan":128757.6,"mortgagePI":835.1193427869168,"monthlyTax":91.20330000000001,"taxRatePct":0.68,"taxRateSource":"Census ACS county effective rate 0.68% ($910 tax ÷ $133,800 ACS median), applied to current value","monthlyInsurance":72.42615,"insuranceRatePct":0.54,"insuranceBasis":"Insurance: state-level estimate (IN avg 0.54%/yr)","insuranceHighRisk":false,"vacancyPct":5,"vacancyLoss":50.7,"egi":963.3,"mgmtPct":10,"monthlyMgmt":101.4,"maintenancePct":5,"monthlyMaint":50.7,"capexPct":5,"monthlyCapex":50.7,"hoaMonthly":0,"monthlyHoa":0,"operatingExpenses":366.42945,"noi":596.87055,"totalExpenses":1201.5487927869167,"cashFlow":-238.24879278691685,"annualCf":-2858.985513443002,"cocReturn":-8.881760807728638,"capRate":4.450189565509143},"resilience":{"scenarios":[{"id":"rentDown","label":"Rent drops 10%","kind":"standard","detail":"Standard assumption","cashFlow":-314.2987927869168,"delta":-76,"survives":false},{"id":"vacancy","label":"Vacancy stretches to 8%","kind":"standard","detail":"Standard assumption","cashFlow":-268.6687927869168,"delta":-30,"survives":false},{"id":"insurance","label":"Insurance costs rise 25%","kind":"standard","detail":"Standard assumption","cashFlow":-256.3553302869169,"delta":-18,"survives":false},{"id":"rateReset","label":"If financed at 8.25% instead","kind":"standard","detail":"Fixed-rate comparison — the deal if you'd borrowed at a higher rate today; your actual fixed payment never resets","cashFlow":-370.44229897747346,"delta":-132,"survives":false},{"id":"historyHome","label":"Worst market shock in available history (since 1991-01-01) (home values −4.7% over 12 months)","kind":"history","detail":"History-derived proxy: worst decline found in any window of up to 12 months in the state FHFA home-value series, 2007-10-01 → 2008-10-01, applied to rent","cashFlow":-273.997142202864,"delta":-36,"survives":false}],"survived":0,"total":5,"score":0,"worstCashFlow":-370.44229897747346,"baselineCashFlow":-238.24879278691685,"framing":"underwater","confidenceLabel":"crosscheck","omitted":[],"note":"Each scenario re-runs the same verified cash-flow engine with one shock applied, then re-checks the cash-flow identity before display. Standard shocks are fixed assumptions; the history-derived scenario is this market's own worst observed 12-month decline. Estimates only — not a guarantee of performance."},"rentVsBuy":{"years":7,"priceCagr":6.874978040535429,"rentCagr":3,"totalRentPaid":93236.83981632728,"totalCashOutlay":135223.84940980017,"insuranceBasis":"Insurance: state-level estimate (IN avg 0.54%/yr)","homeValueAfter":256339.27726100213,"equityBuilt":139443.50552531146,"netCostOfBuying":27969.743884488707,"buyingCheaper":true,"savings":65267.09593183857},"priceToIncome":{"ratio":2.8535184298707517,"price":160947,"medianIncome":56403,"label":"Affordable (≤3x income — historical rule of thumb)"},"countyTaxRatePct":0.68,"countyTaxSource":"Census ACS county effective rate 0.68% ($910 tax ÷ $133,800 ACS median), applied to current value","dataCheck":{"status":"crosscheck","checks":[{"metric":"home value (vintage update)","primary":160947,"secondary":133800,"primarySource":"current estimate (ACS county median × FHFA state HPI growth)","secondarySource":"raw ACS 2023 county median (as measured ~2021)","ratio":1.2,"grade":"crosscheck","consistent":false,"hidePoint":false},{"metric":"HUD fair market rent","primary":1014,"secondary":783,"primarySource":"HUD FMR (county)","secondarySource":"Census ACS (county gross rent)","ratio":1.3,"grade":"crosscheck","consistent":false,"hidePoint":false}],"confidence":{"homeValue":{"label":"crosscheck","ratio":1.2,"sources":["current estimate (ACS county median × FHFA state HPI growth)","raw ACS 2023 county median (as measured ~2021)"],"hidePoint":false,"range":{"low":133800,"high":160947}},"rent":{"label":"crosscheck","ratio":1.3,"sources":["HUD FMR (county)","Census ACS (county gross rent)"],"hidePoint":false,"range":{"low":783,"high":1014}},"income":{"label":"estimate","sources":["Census ACS"]},"crime":{"label":"estimate","sources":["FBI CDE"]}},"note":"Every headline metric is checked against a second figure, and each check names its own basis. The rent and property-price checks pair genuinely independent datasets (HUD FMR vs Census ACS gross rent; your price vs the county estimate). The home-value check compares our current estimate (ACS county median updated by the FHFA state index) against the raw ACS 2023 median — its spread reflects price movement since the ACS measurement period (~2021), not disagreement between unrelated sources. 'Verified' means the two figures agree within 15%; 'Cross-checked' means they diverge more than 15%; 'Divergent' flags a >2x difference. A spread beyond 35% is too wide to defend a single point — the headline shows the source range instead, flagged 'sources disagree'."},"integrity":{"status":"pass","checks":[{"name":"home value freshness","status":"pass","detail":"latest 2026-04-01 (228d old — current for quarterly cadence)"},{"name":"home value card↔chart","status":"pass","detail":"card matches chart"},{"name":"home value growth window","status":"pass","detail":"growth matches the 5.0yr available window"},{"name":"rent freshness","status":"pass","detail":"latest 2026-11-01 (14d old — current for monthly cadence)"},{"name":"rent card↔chart","status":"pass","detail":"card matches chart"},{"name":"cash flow identity","status":"pass","detail":"NOI − P&I = cash flow"},{"name":"cash-on-cash","status":"pass","detail":"annual CF ÷ down matches"},{"name":"cap rate","status":"pass","detail":"NOI×12 ÷ price matches"},{"name":"price-to-rent","status":"pass","detail":"price ÷ (rent×12) matches"},{"name":"income plausibility","status":"pass","detail":"within expected range"},{"name":"price-to-income","status":"pass","detail":"price ÷ income matches"},{"name":"buy-vs-rent: home value at term","status":"pass","detail":"compounds at 6.9%/yr"},{"name":"buy-vs-rent: total rent paid","status":"pass","detail":"geometric series matches"},{"name":"buy-vs-rent: equity built","status":"pass","detail":"home value − loan balance matches"},{"name":"buy-vs-rent: net cost","status":"pass","detail":"outlay − equity gain matches"},{"name":"buy-vs-rent: savings & verdict","status":"pass","detail":"savings = rent − net cost, verdict matches"}],"summary":"16/16 verified","freshness":{"homeValue":{"date":"2026-04-01","ageDays":228,"cadence":"quarterly","current":true},"rent":{"date":"2026-11-01","ageDays":14,"cadence":"monthly","current":true}}},"confidence":{"homeValue":{"label":"crosscheck","ratio":1.2,"sources":["current estimate (ACS county median × FHFA state HPI growth)","raw ACS 2023 county median (as measured ~2021)"],"hidePoint":false,"range":{"low":133800,"high":160947}},"rent":{"label":"crosscheck","ratio":1.3,"sources":["HUD FMR (county)","Census ACS (county gross rent)"],"hidePoint":false,"range":{"low":783,"high":1014}},"income":{"label":"estimate","sources":["Census ACS"]},"crime":{"label":"estimate","sources":["FBI CDE"]}},"verdict":"Cass County, IN leans favorable for buying: a price-to-rent ratio of 13.2 favors owning at the median, and modeled investor cash flow is negative, so this is owner-occupant math — not a claim of strong rental yield.","faqs":[{"q":"Is Cass County, IN a good rental market?","a":"For owning at the median, yes — Cass County's price-to-rent ratio of 13.2 is in the favorable range, but modeled investor cash flow is negative, so it is not a claim of strong rental yield."},{"q":"What is the median home value in Cass County?","a":"The typical home value in Cass County is about $160,947 (county-level, Census ACS & FHFA state HPI), up 3.5% year-over-year, and up 39.4% over five years."},{"q":"What is the median rent in Cass County?","a":"The typical rent in Cass County is about $1,014/mo (county-level, HUD 2-bedroom benchmark bridged from Census ACS gross rent), a current modeled estimate."},{"q":"Is it cheaper to rent or buy in Cass County?","a":"Over a 7-year horizon, buying is cheaper in Cass County — roughly $65,267 ahead of renting, with about $139,444 in equity built."},{"q":"Is Cass County affordable for homebuyers?","a":"Cass County's median home value is 2.9x the local median household income — Affordable (≤3x income — historical rule of thumb)."},{"q":"What is the property tax rate in Cass County?","a":"Cass County's effective property tax rate is about 0.68% of home value (Census ACS county effective rate 0.68% ($910 tax ÷ $133,800 ACS median), applied to current value), which on a $160,947 median home is roughly $91/mo."}],"takeaways":["The median home value in Cass County, IN was $160,947 as of April 2026, up 3.5% year over year (FHFA HPI applied to the Census ACS county median).","The typical market rent in Cass County, IN was $1,014/mo as of November 2026, a current modeled estimate (HUD Fair Market Rent, FY2027, bridged from Census ACS gross rent).","Cass County, IN has a price-to-rent ratio of 13.2 — a reading that favors owning (owner-occupant math — not automatically strong investor cash flow). (Computed by Areal from the figures above.)"],"citationSources":[{"name":"U.S. Census Bureau — ACS ACS 2024 5-year estimates","url":"https://www.census.gov/programs-surveys/acs/"},{"name":"FHFA House Price Index","url":"https://www.fhfa.gov/data/hpi"},{"name":"HUD Fair Market Rent","url":"https://www.huduser.gov/portal/datasets/fmr.html"},{"name":"FBI Crime Data Explorer","url":"https://cde.ucr.cjis.gov/"}],"jsonApi":{"function":"getCountyReport","query":"slug=cass-in","url":"https://areal.studio/functions/getCountyReport?slug=cass-in"},"assumptions":{"downPct":20,"ratePct":6.75,"years":7},"dataVintage":{"pulledAt":"2026-11-14T21:09:44.931Z","homeValueBasis":"FHFA state HPI (quarterly) × ACS county anchor","rentBasis":"HUD county FMR — flat current estimate (modeled, no public trend)","zhviThrough":null,"zoriThrough":null,"fhfaHpiThrough":"2026-04-01","hpiLevel":"state","hpiMetro":null,"acsVintage":"ACS 2024 5-year estimates","acsVintageMisses":[],"hudFy":"2027","safmrFy":null},"zipAnchors":{"homeValueTier":"county-fhfa-acs","rentTier":"county-acs-hud","zhvi":null,"zori":null,"safmr":null,"countyHomeEstimate":160947,"countyFmr":1014,"countyRatio":null,"hpiLevel":"state","hpiMetro":null},"links":{"stateDir":"IN","stateName":"Indiana","cityPages":[],"zips":[]},"sources":["Census ACS 5-year","FHFA HPI","HUD Fair Market Rent","FBI CDE (state-level context)"]}