Gunnison County presents a high entry-value, appreciation-positive setting where current liquidity and rent coverage remain unproven. Buyers relying on leverage or a short holding period should investigate completed sales, financing and insurance before relying on headline appreciation. Zillow’s county median home value was $724,958, up 3.72%. FHFA’s annual repeat-transaction HPI rose 8.62% in its separately supplied observation; it supports the direction of appreciation across another method, but is not a home value and must not be combined with Zillow’s rate.
Against that entry value, revenue underwriting has a hard stop: median market asking rent is not published, so gross yield cannot be computed. HUD’s two-bedroom FMR of $1,334 per month is a payment standard, not an estimate of asking rent, and cannot substitute for rent. The effective property-tax rate is 0.29%, and median annual property tax is $1,798. Obtain achievable rent, lease-up evidence, utilities, insurance and property-specific tax treatment; these county measures do not establish net operating income.
Realtor.com’s MLS listing-market evidence indicates visible supply and seller flexibility, not closed-sale demand: 314 active listings, a 72-day median marketing time, and 11.09% of listings with price reductions. Test concessions, resale timing and sale-to-list outcomes rather than reading listing conditions as transaction pricing or proof of buyer demand. Annual QCEW covered employment at workplaces in the county declined 2.65%. It is neither resident employment nor an unemployment measure, but it adds a demand-side question for assets dependent on local incomes.
Migration offers a limited offset: net migration was 19 tax-return households, while inbound movers’ average adjusted gross income exceeded outbound movers’ by $22,287. That combination merits verification of renter versus buyer tenure and location, not an assumption of broad rental demand. Investor participation was 14.64% of 239 purchases, so competing non-owner buyers are present but not a complete buyer-mix measure. Inland flood is the dominant hazard, with modeled annual climate loss of 0.21% of building value; parcel flood zone, insurance availability and mitigation are not published. This is county-level evidence, not a property conclusion.