Home prices along the Mississippi beach have risen 6.3% year-over-year, but they still sit 40% below the Gulf Coast average when you compare Biloxi to Pensacola or Gulf Shores. Inventory hovers at 2.1 months inside the city limits, tightening to 1.3 months for three-bedroom homes under $225,000 in the popular Woolmarket school corridor. Casino expansion—Hard Rock’s $335-million renovation and the new Margaritaville resort—added 1,200 permanent hospitality jobs, pushing rental yields above 9% and attracting investors who compete with owner-occupants for the same starter homes.

Because Harrison County uses a rolling reappraisal cycle, expect assessed values to jump 8–11% in 2024; factor that into your escrow even though the nominal millage rate stays 0.76%. New construction is concentrated north of I-10 in D’Iberville where builders dangle $5,000 closing incentives, while historic East Biloxi cottages remain a fixer-upper playground for 203(k) rehab loans. If you’re targeting a weekend rental near the beach, know that short-term rentals under 30 days require a city permit capped at 450 licenses, so verify zoning before you commit.

• Woolmarket – Top-rated elementary school, new 1,800-sq-ft homes around $205k, and flood zone X so insurance stays low.
• D’Iberville – Growth corridor with Walmart, Costco, and brand-new subdivisions qualifying for USDA zero-down financing north of Sangani Boulevard.
• Back Bay – Quiet waterfront living 10 minutes from the casinos; expect alligators but also 180-degree sunset views and C-pier fishing access.
• East Biloxi – Historic cottages from $150k perfect for FHA 203(k) rehabs; the city’s CRA offers 0% deferred second mortgages up to $40k for façade improvements.
• Ocean Springs (zip 39564) – Technically adjacent, but buyers priced out of Biloxi beach gravitate here for the artsy downtown and walkable farmer’s market; still serviceable by NMHL Biloxi loan officers.

Harrison County millage combines city, county, and school levies into an effective 0.76% of assessed value—about $1,484 a year on that $195,000 median. Owner-occupants receive a 10% assessment discount and can homestead after January 1 to knock another $300 off the annual bill. The bigger wallet shock is wind/hail and flood: premiums on a 1,400-sq-ft frame home average $2,600 for wind and $600 for flood in X zones, but VE beachfront zones can top $7,800 combined. Lenders require coverage equal to the loan amount or replacement cost, so budget escrow accordingly.

After Katrina, the city adopted the Coastal Construction Manual—elevated piles, break-away walls, impact-rated windows—so insurance credits of up to 25% are available if your home was built post-2008. Ask your NMHL loan officer for our Insurance Estimator sheet; we preload FEMA maps, wind-pool tiers, and local agent contact so you’ll see the true monthly payment before you make an offer.

• Coastal Credit Advantage – FHA down to 580 credit, 3.5% down, permits gift funds from casino-tip pooling programs documented with a simple letter.
• Veteran FastTrack – VA zero-down, 550 minimum, 21-day close guarantee; we front appraisal fees so troops at Keesler don’t pay out-of-pocket.
• Bank-Statement Express – 12 or 24 months of personal or business statements, no tax returns; ideal for pit bosses, charter fishermen, and rideshare drivers.
• Mississippi Smart6 Combo – Stack the state’s 6% assistance with USDA or VA; we underwrite both loans simultaneously so you still close in 30 days.
• 203(k) Coastal Rehab – Finance purchase + hurricane upgrades in one loan; borrow an extra $10k for impact windows and earn up to 25% off wind insurance.

The Mississippi Home Corporation revived Smart6 for 2024 with 6% of the base loan amount—up to $12,870 on a $214,500 purchase—available on FHA, VA, or USDA in every Harrison County zip code. Funds arrive as a 0% second lien forgiven after three years of owner-occupancy, and you can layer it with lender credits from NMHL to cover most closing costs. City of Biloxi Hospitality Worker Grants add another $5,000 for full-time hotel, food-service, or entertainment employees making less than 80% area median income; documentation is a paystub and employer letter.

Keesler personnel should also explore the Air Force Aid Society’s Falcon Loan—an interest-free $1,000 advance perfect for appraisal or inspection costs that can be repaid over 12 months via allotment. We coordinate the paperwork so your VA loan remains $0 out-of-pocket at closing.

Biloxi’s $195,000 median won’t last forever—inventory is down 17% and casino jobs keep pumping demand into a 2.1-month supply market. Whether you’re stationed at Keesler, dealing cards at Beau Rivage, or flipping shrimp at Mary Mahoney’s, NMHL’s Biloxi team can get you pre-approved in under an hour and close before the next PCS wave hits. Click here for a same-day pre-approval or call 228-4-NMHL-MS to speak with a local loan officer who knows the difference between a Pass Road ranch and a raised Back Bay cottage—and can get you the keys to either one.