Marinette, WI

Marinette, WI is considered here as a metropolitan or micropolitan statistical area of 65,293 people, not as a neighborhood or an individual asset. The decision frame is incomplete rather than directional: Zillow reports an asking-rent index of $965 and a home-value index of $209,449 at 2026-06-30, but its trailing-12-month rent change is unavailable. Accordingly, this report does not assign a score or rank the market. The usable record is still substantial: value, income, HUD rent benchmark, labor change, permitted construction, for-sale conditions, migration, mortgage occupancy, and FEMA risk each answer different questions. Their periods and coverage do not align, so a renter, landlord, or small investor can treat them as boundaries on inquiry rather than a single market verdict.

Zillow’s two indexes provide a current rent/value comparison, not a complete investment ledger. At the reported date, the $965 asking-rent index sits beside the $209,449 home-value index, while Zillow’s home-value year-over-year change is 0.0742. The supplied gross yield is 0.0553, a cross-sectional relationship between the supplied rent and value measures. It is not a net operating result: the packet has no tax, insurance, maintenance, financing, vacancy, or lease-concession evidence. Just as importantly, Zillow’s source scope is asking rents, and the absent 12-month rent change means that the current rent measure cannot establish rent momentum. Price movement of 0.0742 does not substitute for a missing rent trend, nor does it establish that a listed asking rent was signed.

Census ACS reports median household income of $61,417, with supplied rent-to-income of 0.1885 and price-to-income of 3.41. HUD’s FY2026 two-bedroom Fair Market Rent is $973. Zillow’s $965 asking-rent index is numerically $8 below that HUD figure, and the supplied rent-versus-FMR value is 0.992. This is a useful affordability boundary, but not a household affordability finding. Census ACS income is a marketwide household measure, HUD FMR is a program rent benchmark for a defined bedroom count, and Zillow tracks asking rents rather than a matched two-bedroom lease sample. The figures therefore support comparison of current reference levels, while leaving actual renter incomes, lease terms, unit sizes, and utility treatment outside the record.

Labor, construction, and resale conditions do not produce a simple tight-versus-loose label. BLS LAUS reports metro labor change of -0.0055 for the 12 months through 2026-05. Census Building Permits Survey reports 194 total permits through 2026 YTD M06, including 10 in the reported five-plus category, and 2.97 permits per 1,000. Redfin, at 2026-05-01, records 3.7 months of supply, unchanged from the prior 3.7; median days on market are 47 versus 52 previously; sale-to-list is 0.976; and the price-drops measure is 0.251 versus 0.187. The latter difference is 0.064. Stable reported supply and shorter market time sit alongside more reported reductions. The BLS, Census Building Permits, and Redfin observations have distinct clocks and objects—jobs, permissions, and listings—so they describe a tension to examine, not a unified supply conclusion.

Demand evidence also has limits that matter. IRS county-to-county tax-return migration, aggregated to the market, shows 1,355 moved in and 1,218 moved out, yielding supplied net migration of 137. The reported AGI values are $62,294 inbound and $55,055 outbound, with a supplied gap of $7,239. These are tax-return flow and income measures, not counts of renters, occupied homes, or completed sales. Separately, HMDA’s 2024 purchase-mortgage occupancy evidence lists 669 purchases, 40 investor purchases, and an investor share of 0.0598. HMDA thus offers a defined view of financed purchase occupancy, whereas IRS describes filer movement. Neither source identifies all-cash activity, future tenure, or the share of rental stock controlled by investors, so the two series cannot be combined into a complete demand count.

Physical risk is a separate decision boundary, rather than a price or rent signal. FEMA’s National Risk Index identifies inland flood as the top hazard, with water as the hazard type, a climate loss ratio of 0.001065, and a risk score of 67.4. FEMA supplies expected annual loss evidence at the reported geography; it does not provide an appraisal or an expense statement for any particular building. The packet’s cost-level anchors are Zillow’s $965 asking-rent index, Zillow’s $209,449 home-value index, and HUD’s $973 FMR, not insurance premiums, deductibles, repair histories, elevation, mitigation status, taxes, utilities, or operating expenses. It would therefore be unsupported to turn the FEMA figures into a rent premium, value discount, insurance cost, or net-yield adjustment. The unresolved issue is the relationship, if any, between the area-level risk evidence and costs relevant to a particular decision.

Taken together, the evidence leaves a practical due-diligence agenda rather than a directional verdict. The unresolved rent question is continuous Zillow history: without it, asking-rent momentum remains unknown. The unresolved revenue question is the relationship between current advertised rents, executed lease terms, and the omitted operating-cost categories. The unresolved supply question is the relationship between the 194 permits, completions, additions to the relevant stock, and Redfin’s fixed 3.7 months of supply. The unresolved demand question is how IRS filer flows and HMDA-financed occupancy align with cash purchases and actual tenure. Finally, the FEMA evidence raises questions about geographic risk documentation and decision-specific cost records, neither of which is supplied here. For renters, landlords, and small investors, those questions separate market-level reference measures from an individual decision. Marinette remains unranked, with no score, because the trailing-12-month Zillow rent change is unavailable.