Harris County presents a split underwriting frame: the Zillow county median home value was $379,278 in 2026-06, up 4.32% year over year. Separately, FHFA’s 2025 repeat-transaction HPI rose 5.16% annually. These different methods and vintages point in the same direction but cannot be combined into one appreciation measure. Buyers reliant on rapid resale and landlords needing income proof should investigate rather than treat county appreciation as a complete thesis.
Realtor.com’s 2026-06 MLS evidence showed active listings 24.27% higher than a year earlier; median marketing time was 61 days and 12.26% of listings had reductions. Those are asking-market supply, time and seller-concession measures—not closed-sale prices or buyer demand by themselves. The $1,088 HUD two-bedroom FMR is a payment standard, not measured asking rent. Because market rent is not published, gross yield cannot be computed. A 0.85% effective property-tax rate is a carrying-cost input, but parcel tax bills and assessments need verification.
QCEW annual average covered workplace employment grew 6.01%, while Manufacturing is the largest disclosed private supersector. This is neither resident employment nor unemployment and does not establish future tenant demand. Tax-return household migration was positive by 57 households, yet incoming movers’ average AGI trailed outgoing movers’ by $3,349. That mix weakens any simple demand reading. Investors represented 4.26% of purchase mortgages to non-occupants, indicating an observable but limited buyer cohort rather than total purchase competition.
Inland flood is the dominant hazard, and modeled annual climate loss equals 0.11% of building value; that measure is not a parcel loss, insurance quote, or flood-zone finding. Missing market rent prevents yield underwriting; missing closed-sale comparables prevents an exit-price conclusion; and absent parcel-level flood, insurance, tax, condition and lease data prevents a property-level cost conclusion. Next checks are current rent rolls and achieved rents, closed sales, flood maps and insurance terms, assessment records, and neighborhood supply.