Investing in Hancock County
Hancock County covers 3 rental markets we actively finance in Mississippi — Bay St. Louis, Diamondhead, Waveland. Across those markets the median investment basis averages $291,667, a long-term lease averages $1,267/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $2,227. That produces a county-wide average DSCR ratio near 0.57x.
Basis varies more inside Hancock County than the average suggests. Waveland is the lowest entry point at roughly $275,000, while Waveland currently models the strongest coverage ratio in the county at 0.66x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.