Ketchikan Gateway Borough is a verification-first rather than yield-ready case: investors with access to local rent, insurance, and transaction comps should investigate, while buyers relying on headline appreciation should be cautious. Zillow’s county median home value was $410,478 in 2026-06, up 8.07% year over year. This contrasts with FHFA’s repeat-transaction HPI, which fell 6.25% in annual 2025 after a 30.28% cumulative five-year gain. FHFA is an appreciation index, not a dollar home value; its period and method cannot be merged with Zillow’s into one growth rate.
Market rent is not published, so gross yield cannot be computed. The HUD FMR in the record is a payment standard, not an estimate of market asking rent and cannot fill that gap. The effective property-tax rate is 0.67%, with median annual tax of $2,619, a carrying-cost reference that still requires parcel assessment and exemption review. Without rent, operating-cost, condition, and financing evidence, no income or net-cash-flow conclusion is supported.
Realtor.com’s MLS listing market in 2026-06 shows visible supply up 4.67%, a 54-day median marketing time, 15.99% of listings reduced, and a 32.14% pending-to-active ratio. These are asking-price, availability, marketing-time, and seller-concession signals—not closed-sale prices or proof of buyer demand alone. Tax-return migration was a one-household outflow, while outgoing movers’ average AGI exceeded incoming movers’ by $6,439. Non-occupants accounted for 2 of 65 purchase mortgages, or 3.08%; that limited measured participation does not capture cash buyers or establish competitive intensity.
QCEW’s 2025 annual workplace data show lower covered employment and higher average weekly wages; Trade, transportation, and utilities is the largest disclosed private supersector by employment, not the whole county economy or a resident-employment measure. Inland flood is the dominant hazard, and modeled annual climate loss equals 0.03% of building value, not an actual loss or parcel-specific insurance quote. Missing lease comps, rent, sale comps, parcel flood data, insurance costs, and property condition prevent yield, exit-price, and hazard-cost underwriting; verify those before treating the conflicting price evidence as actionable.