Harrison County presents a cross-vintage price tension: it merits investigation by buyers able to validate deal rents and flood costs, while buyers relying on headline appreciation should be cautious. Zillow’s 2026-06 county median home value was $239,357, down 0.17% year over year, whereas FHFA’s separate 2025 annual repeat-transaction HPI rose 1.90%, with a 46.27% five-year cumulative gain. The HPI is an appreciation index, not a home value; different vintages and methods leave current resale pricing unresolved and require local closed-sale comps.
Rent economics remain untestable. No median asking market rent is published, so gross yield cannot be computed. HUD’s two-bedroom FMR of $866 per month is a payment standard rather than an asking-rent estimate and cannot substitute. The effective property-tax rate of 0.66% is a carrying-cost input against the stated value, but parcel tax, insurance, repairs and financing are not published; no cash-flow conclusion follows.
Demand evidence is mixed rather than conclusive. Net migration was 157 tax-return households, while average AGI for in-movers exceeded that of out-movers by $5,067; this describes movers, not tenants or future demand. Realtor.com’s MLS listing market showed a 65-day median marketing time and a 13.68% price-reduced share, both seller-side listing signals rather than closed sales. The reported 17 investor purchases among 185 total purchases equal a 9.19% share, defining one source of buyer competition but not all investor activity. QCEW is workplace-based covered employment, not resident employment or unemployment.
Risk limits center on inland flood: modeled climate loss equals 0.14% of building value annually, an aggregate modeled ratio rather than a property-specific insurance quote or loss forecast. Check flood-zone status, prior claims, coverage, deductibles and replacement cost before relying on carrying costs. The labor record’s wage is a covered-worker average, and Education and health services is the largest disclosed private supersector, not the whole county economy. Current achieved rents, vacancy, lease concessions, parcel taxes, insurance quotes and closed-sale comps are missing; without them, yield, operating margin and exit-price underwriting remain unproven.