Navajo County presents a yield-versus-liquidity tension: published market rent supports a measurable gross yield, but the visible MLS market is softer and employment is contracting. Investigate only with property-level flood and operating-cost diligence; buyers dependent on quick resale, tight cash flow, or unverified tenant depth should be cautious. Zillow’s June 2026 county observation puts the median home value at $401,700 and median asking rent at $1,723 per month, with a supplied gross yield of 5.15% before costs.
That rent is measured asking rent, not HUD’s $1,309 two-bedroom Fair Market Rent, a payment standard rather than an estimate of asking rent. The effective property-tax rate is 0.59%, and median annual property tax is $1,195; insurance, maintenance, vacancy, debt terms, and property-specific tax bills are not published, so net cash flow cannot be underwritten. FHFA’s repeat-transaction HPI rose 3.22% in 2025, while the separate Zillow observation shows 0.73% year-over-year value growth. These are different methods and vintages, not a blended appreciation rate.
Realtor.com’s MLS listing market records 900 active listings, up 25.1% year over year, a 70-day median marketing time, and 25.07% of listings reduced. Those are visible supply, asking-market timing, and seller-concession indicators—not closed-sale prices or standalone proof of buyer demand. Tax-return migration was net positive by 273 households, and inbound movers had higher average AGI than outbound movers. Investors accounted for 7.2% of 1,083 purchase mortgages, a documented non-owner-occupant share, but not a measure of cash purchases or all buyers. Together, migration adds a demand check, while listings require deal-level absorption evidence.
Modeled climate loss equals 0.17% of building value annually and the dominant hazard is inland flood, so flood-zone, insurance-availability, deductible, and claims-history checks can alter the operating case. QCEW’s 2025 annual covered employment at county workplaces fell 2.65%; it is neither resident employment nor an unemployment measure. Trade, transportation, and utilities is the largest disclosed private supersector, not the whole economy. Missing submarket rents, vacancy, sale concessions, insurance quotes, flood exposure, and property condition prevent a reliable net-yield or exit-liquidity conclusion.