Garland County is a carry-versus-concentration test: June 2026 Zillow evidence shows a $249,604 median home value but only 0.38% year-over-year growth, while measured asking rent is $1,334 and up 6.53%. That spread supports screening for rental income, not assuming appreciation. An investor willing to investigate property-level flood exposure, insurance, and operating costs should examine the county selectively; a price-growth or low-reserve buyer should be cautious.
The supplied 6.41% gross yield is annual market rent before costs, not a net return. HUD’s $1,090 two-bedroom FMR is a payment standard, not an asking-rent estimate. The effective property-tax rate is 0.48%, but insurance, repairs, vacancy, management, utilities, financing, and property-level tax differences are not published. FHFA’s repeat-transaction HPI rose 3.9% in 2025. Its vintage and method differ from the Zillow measure, so the results should not be averaged; FHFA shows positive appreciation in its own measure, while Zillow shows near-flat recent price movement.
Demand and buyer competition are mixed. Tax-return migration was net positive by 30 households, and incoming average AGI exceeded outgoing average AGI by $4,346; that income gap is useful context, but the record does not establish durable demand. Realtor.com’s MLS snapshot indicates active supply fell year over year, while 20.45% of listings had price reductions. These are visible-supply and seller-concession measures, not closed-sale prices or proof of buyer demand. Investor purchases represented 17.88% of 1,169 total purchases, making investor participation relevant but not the whole buyer pool.
Risk limits are material. Inland flood is the dominant hazard, while modeled annual building-value loss is 0.21%; that ratio is not an insurance quote or property-level flood result. Obtain parcel flood-zone and elevation data, claims and drainage history, insurance quotes and deductibles, and an expense and occupancy history. QCEW covers workplaces, not resident employment: it reports 38,518 annual average covered county jobs and a $906 covered-worker average weekly wage. Leisure and hospitality is the largest disclosed private supersector, not the whole economy. Missing closed-sale comps, lease-level rent evidence, property condition, financing terms, and property-specific taxes prevent conclusions about resale value, stabilized net yield, or debt coverage.