Skagway Municipality presents a decision tension between a small but improving workplace job base and substantial survey vacancy. Rental underwriters should be cautious until property-level rent and occupancy are documented: annual QCEW covered employment at county workplaces rose 3.61%, while the ACS vacancy estimate is 32.43%. These measures do not establish whether vacant homes compete with a subject rental, so they support diligence rather than a countywide demand conclusion.
The ACS 2024 5-year reports an owner-reported median value of $435,400 for owner-occupied homes and surveyed median gross rent of $1,280 for occupied units. They describe different survey populations, are neither current asking-market measures nor inputs to a yield calculation. Published market rent is absent, so gross yield cannot be computed. HUD's $1,644 two-bedroom FMR is a payment standard, not asking rent. The effective property-tax rate is 0.38%, and median annual tax is $1,634; parcel assessment, insurance, utilities, and maintenance remain unpublished carrying-cost inputs.
Realtor.com's 2026-06 MLS snapshot contains one active listing, a 319-day median marketing time, no price reductions, and a pending-to-active ratio at parity. This is visible asking-market supply, not closed-sale pricing or proof of buyer demand; with such scant inventory, the indicators are fragile. In the 2025 QCEW, employment means annual covered jobs at county workplaces, not resident employment. Trade, transportation, and utilities is the largest disclosed private supersector, not the whole economy. Migration was negative, though incoming moving households had average income $8,144 above outgoing households; fewer movers alongside higher incoming income gives no clear demand verdict.
Earthquake is the dominant hazard; separately, modeled annual climate loss is 0.05% of building value and is not a site-specific loss estimate. The record reports no investor purchases among five total purchases, too few to establish durable buyer competition. No Zillow county series or FHFA repeat-transaction HPI is published, so price direction cannot be corroborated. Verify rent rolls, attainable rents, occupancy, assessment, insurance and earthquake terms, and comparable closed sales; without them, valuation and debt-service coverage remain unresolved.