Midland’s current Zillow ZHVI, the typical city home value, is $260,029, while Zillow ZORI, the typical observed market rent, is $1,483 per month. Their 6.8% gross yield uses annual ZORI divided by ZHVI before every operating cost. ZHVI equals 3.55x median household income, and annual ZORI equals 24.3% of that income. These comparisons are broad affordability and income-coverage screens, not a mortgage-payment estimate or a property cash-flow result.
Within the city’s housing stock, renters occupy 32.9% of occupied housing, a citywide tenure measure rather than evidence that any specific rental will lease. ACS reports a $203,900 owner-reported median home value and $1,048 median gross rent for surveyed occupied housing; gross rent includes contract rent and selected utilities. These ACS measures have a different surveyed universe and period from Zillow’s typical value and observed market rent, so the series should not be averaged or read as substitutes.
ACS reports that 50.4% of city renters meet its rent-burden threshold. Its housing-stock mix is 73.2% single-family units and 9.1% large multifamily units; citywide vacancy is 4.7%. ACS records 119 vacant units for rent, 45 for sale and 378 for seasonal use. Population is 42,724, up 1.9% between overlapping ACS vintages; possible boundary changes mean this is not an annual rate. Median household income is $73,325, poverty is 10.3%, and unemployment is 4.1%. These citywide survey facts cannot establish tenant demand, available investment inventory, or lease-up for a particular property.
In Bay County, the county property-tax rate is 1.492%; in Midland County, the county property-tax rate is 1.471%. These are separate county contexts, not a city rate. The broader Midland metro had a 2.5% job decline and 3.2 months of supply, both metro measures rather than city measures. The national 30-year mortgage rate was 6.69%, a national financing benchmark rather than a city borrowing quote.
Key limits are that Zillow is a city-level typical-value and rent series, ACS is a survey of occupied housing, and county, metro and national indicators use wider denominators. For any address, confirm its county, assessed tax bill, insurance and flood exposure, condition and capital needs, permitted use, utility responsibility, local rent comparables, current vacancy, lease terms and financing quote. Recalculate income, operating costs and returns from those property-specific inputs rather than from the gross yield alone.