Albany County, WY presents a valuation-versus-income tension: Zillow’s June 2026 median home value is $379,500 against $1,214 monthly median asking market rent and a reported 3.84% gross yield before costs. Income-focused buyers should investigate expense resilience rather than assume appreciation fills the gap. Zillow’s value measure declined year over year, while FHFA’s 2025 annual repeat-transaction HPI rose 2.88%. These are different methods and observation periods, so they indicate mixed direction rather than a single growth rate.
Rental economics are measurable, but only at the county level. HUD’s FMR is $963 per month, a payment standard rather than an estimate of asking rent; it should not replace the market-rent input. The effective property-tax rate is 0.58%. That tax burden is only one carrying cost, so the reported gross yield cannot establish net yield or debt-service coverage; insurance, maintenance, utilities, vacancy, financing and property-level assessments are not published.
Demand evidence is mixed. Realtor.com’s June 2026 MLS snapshot has 103 active listings and 9.88% reduced; these describe visible asking supply and concessions, not closed prices or buyer demand. QCEW’s 2025 annual county-workplace data show covered employment and average covered-worker weekly wage increased; Education and health services is the largest disclosed private supersector, not the whole economy. Tax-return migration was net negative, though inbound movers’ average income exceeded outbound movers’. The record counts 47 investor purchase mortgages among 437 purchases, or 10.76%, indicating non-owner competition but not all cash-investor activity.
Inland flood is the dominant named hazard; modeled annual climate loss is 0.09% of building value, an exposure model rather than a site-specific insurance quote or loss forecast. County evidence cannot determine flood-zone status, insurability, replacement cost, lease renewal, unit rent, sale comps, financing, or capital needs. Next checks are parcel flood and insurance records, tax assessments, rent roll and asking-rent comparables, operating statements, and closed-sale/pending-contract evidence. These decide whether measured gross yield survives ownership costs and whether MLS softness applies to the target asset.