Teton County presents a high-acquisition-cost, low-current-yield tension: the supplied Zillow county median home value is $2,205,007 and median asking rent is $4,458 monthly, with a stated 2.43% gross yield before costs. Investors needing current income coverage should be cautious; those studying high-cost rentals should first test unit-specific achieved rent, vacancy and expenses. The Zillow observation supplies a market-rent measure, not a subsidy benchmark. No FHFA annual HPI observation is published, so no independent repeat-transaction appreciation-index view is available.
Market rent—not the $1,653 HUD two-bedroom Fair Market Rent—supports the stated yield. HUD FMR is a payment standard, not an asking-rent estimate; it must not be substituted into gross yield. The effective property-tax rate is 0.45%, and median annual tax is $7,267. Those carrying costs sit below a gross, pre-cost yield and require property-level insurance, maintenance, financing and vacancy data, none of which is published. The value/rent relationship therefore does not establish net cash flow.
Realtor.com’s MLS listing-market evidence is mixed: 229 active listings were lower year over year, while median days on market reached 77, up 63.64%. These are visible supply and marketing-time measures, not closed-sale prices or standalone proof of buyer demand. Annual QCEW covered employment at county workplaces rose 0.44%; leisure and hospitality held 42.81% of disclosed private covered jobs, a concentration relevant to tenant and employer exposure, not resident employment. Net migration was -82 tax-return households, but arrivals’ average AGI exceeded departures’ by $57,807. Investor mortgages were 9.09% of 154 purchases, showing a present but bounded observed non-owner segment.
Inland flood is the dominant hazard, and modeled expected annual building-value loss is 0.15%; this is a modeled ratio, not a property insurance quote or dollar loss. This record does not publish property-level flood-zone or elevation data, insurance premiums, vacancy, lease renewals, operating costs, financing, or closed-sale evidence. Underwriting should next confirm hazard and insurance by parcel, actual rent rolls and expenses, and sale comparables; without them, net yield, liquidity, and flood-adjusted carrying-cost conclusions remain unproven.