Harrison County presents a direction conflict rather than a clear pricing signal: Zillow’s 2026-06 median home value was $231,789, up 6.81% year over year, while FHFA’s 2025 annual repeat-transaction HPI fell 3% over its own annual measure, despite a 45.09% cumulative five-year HPI gain. These are different methods and vintages, not one growth series to average. Rental buyers should be cautious: investigate local comparable sales before treating the Zillow movement as confirmed appreciation.
Income underwriting is constrained: market asking rent is not published, so gross yield cannot be computed. HUD’s two-bedroom FMR of $1,368 per month is a payment standard, not an asking-rent estimate, and cannot fill that gap. The effective property-tax rate is 1.32%, and median annual tax is $2,325; those county figures flag a carrying-cost item but cannot substitute for a parcel tax bill or expense history. Investigate rent rolls, achieved rents, utilities, insurance and assessed value.
Demand evidence is mixed but not proof of absorption. Net tax-return migration was negative 2 households, while incoming movers’ average AGI exceeded outgoing movers’ by $17,054; the income difference does not show the number of renter households or their housing choices. Non-occupants accounted for 16 of 179 purchase mortgages, or 8.94%, indicating some buyer competition but not cash purchases or bid intensity. QCEW reports annual covered jobs at county workplaces increased 2.31%, with average weekly covered wages up 6.84%; Trade, transportation, and utilities was the largest disclosed private supersector. These are workplace measures, not resident employment or a forecast.
Inland flood is the dominant hazard, and modeled annual climate loss equals 0.15% of building value; it is modeled loss exposure, not a property-specific insurance quote. The supplied record has no Realtor.com MLS listing-price, active-listing, days-on-market or price-reduction figures for its 2026-06 inventory period, so visible supply, seller concessions and marketing time cannot be assessed. It also lacks market rent and closed-sale comparables, preventing a gross-yield test and validation of pricing. Next checks are parcel flood zone and insurance terms, leases and turnover, assessed-tax history, and sale comparables.