Matagorda County presents a carrying-cost-versus-income tension: the reported gross yield is usable only before taxes, insurance, repairs and vacancy, while hurricane exposure makes those omitted costs central. It merits investigation by operators able to obtain property-specific flood, wind and insurance terms; investors relying on county averages or thin reserves should be cautious. The central question is whether current income can clear recurring ownership costs after hazard protection, not whether the headline yield alone appears adequate.
Zillow’s county observation puts the median home value at $209,960. The measured median asking rent is $949 per month, supporting the supplied 5.42% gross yield before costs. The effective property-tax rate is 1.35%, a material carrying-cost input alongside the published median annual tax bill. HUD’s $1,173 two-bedroom Fair Market Rent is a payment standard, not asking rent; it cannot replace the measured rent or be used to recalculate yield.
QCEW workplace data show 11,501 annual-average covered jobs, up 2.61%; this is neither resident employment nor an unemployment measure. Trade, transportation, and utilities is the largest disclosed private supersector, not the whole economy. Migration was nearly balanced—820 tax-return households moved in and 823 moved out—although entrants had higher average income than leavers. Non-occupant investor mortgages accounted for 27 of 289 purchases, or 9.34%, indicating some buyer competition but not its effect on prices.
The dominant hazard is hurricane, and modeled expected annual building-value loss is 0.38%; county averages cannot substitute for parcel elevation, coverage, deductibles or rebuilding-cost review. FHFA’s 2025 repeat-transaction HPI rose 1.42%. Both measures point upward, but FHFA is an appreciation index rather than a home value, and its distinct vintage and method must not be averaged with Zillow’s 2026-06 observation. Realtor.com listing price, active-listing, days-on-market, reduction and pending evidence are not published, preventing a read on MLS asking-price competition, visible supply and seller concessions. Insurance, vacancy, repair and property-level expense evidence is also not published, so net yield cannot be underwritten.