Clark (KS) Investor Pulse Report (2025-Q4)

Investor ownership has reached a saturation point in Clark County, KS, with landlords controlling 609 of the 758 available Single-Family Residential (SFR) properties, a staggering 80.3% market share.

The market is overwhelmingly characterized by small-scale, individual operators rather than large corporations. Individual landlords own 547 properties, constituting 89.8% of the investor portfolio, while companies own the remaining 62 properties (10.2%).

This individual dominance is further reflected in the entity counts, where 761 individual landlords operate in the county compared to just 49 companies, a ratio of more than 15 to 1.

A significant financial characteristic of this market is the complete absence of debt on investor-owned assets. All 609 landlord-held properties are owned free and clear as cash properties, with none recorded as being financed.

The portfolio's purpose is unambiguous: 100% of the 609 investor-owned properties are classified as rented or non-owner-occupied, underscoring a market heavily geared towards rental income generation.

Analysis of acquisition pricing in Clark County is severely limited by a complete absence of recent sales data. There were no recorded transactions for landlords or traditional homeowners in Q4 2025, making a direct price comparison for the quarter impossible.

The lack of activity prevents the calculation of any price gap or discount that landlords might typically secure compared to other buyers in the market.

Historical data provides limited context, with an average acquisition price of $66,611 listed for the 2020-2023 period. However, this average is based on zero properties purchased during that timeframe, indicating prolonged market inactivity or data scarcity.

Without transaction velocity, it is not possible to assess price appreciation or depreciation trends from the pandemic era through the current quarter.

The data does not allow for a comparison of acquisition prices between individual and company investors, as neither group recorded purchases recently.

The fourth quarter of 2025 was marked by a total standstill in the Clark County SFR market, with zero properties purchased by any buyer type. As a result, landlords acquired no new properties, accounting for 0.0% of the market's non-existent activity.

This lack of activity means there was no entry of new investors into the market. The count of new single-property landlords (Tier 01) for the quarter was zero, indicating no new capital flowing into the rental sector from first-time investors.

Comparing investor segments, both 'mom-and-pop' landlords (Tiers 01-04) and institutional investors (Tier 09) were equally inactive, each recording zero purchases.

The complete halt in acquisitions suggests a market facing unique conditions, such as a lack of available inventory, a mismatch in buyer-seller price expectations, or extremely low population turnover.

This inactivity contrasts sharply with the high level of existing investor ownership, suggesting a mature, buy-and-hold rental market rather than one focused on active trading.

The ownership structure in Clark County is definitively controlled by small-scale investors. 'Mom-and-pop' landlords, owning between 1 and 10 properties (Tiers 01-04), command a massive 99.2% share of the investor-owned SFR market.

The foundation of this market is built on single-property owners (Tier 01), who alone account for 496 properties, representing 79.5% of all investor holdings. This highlights the highly fragmented and grassroots nature of the local rental landscape.

Mid-size landlords (Tiers 05-08) represent a tiny fraction of the market, with holdings of only 5 properties combined, or less than 1% of the total investor portfolio.

There is a complete absence of large-scale institutional investment in Clark County. Investors in the 1,000+ property tier (Tier 09) own zero properties, reinforcing the market's isolation from national corporate players.

Due to the lack of recent transactions across all tiers, it is not possible to analyze how acquisition prices vary by portfolio size or if larger investors pay more or less than smaller ones.

Individual investors are the primary owners across nearly every portfolio size in Clark County. In the largest segment, single-property landlords, individuals own 458 properties (92.3%) compared to just 38 (7.7%) owned by companies.

The only point of parity between owner types occurs in the '6-10 properties' tier. At this level, ownership is split exactly 50.0% / 50.0%, with individuals and companies each owning 7 properties.

Even as portfolio sizes increase slightly, individuals maintain their majority. For instance, in the '2-property' tier, individuals own 60 homes (89.6%) versus 7 for companies (10.4%).

This pattern demonstrates that corporate ownership does not scale with portfolio size in this market; individual investors are the key players from the smallest to the mid-size tiers.

The absence of Q4 transactions prevents any analysis of pricing differences or growth patterns between individual and company buyers within these tiers.

Investor activity in Clark County is not just high overall, but also intensely concentrated in specific zip codes. The zip code 67865 has one of the highest investor penetration rates, where 250 of the properties are landlord-owned, translating to an 85.9% rate.

By sheer volume, the 67831 zip code is the epicenter of investor holdings, containing 326 landlord-owned SFRs. This concentration results in a similarly high ownership rate of 78.4%.

The top regions for investor ownership by both count and percentage are largely the same, indicating that investor capital is focused on the most significant population centers within the county rather than being dispersed.

Even smaller areas show significant investor presence. For example, the 67840 zip code has 32 investor-owned properties, representing a 66.7% ownership rate.

This deep geographic saturation suggests that the rental market is the dominant form of housing tenure in the county's key residential areas.

A lack of available historical transaction data for Clark County prevents a comprehensive analysis of long-term market dynamics. It is not possible to determine the overall net position of landlords as either buyers or sellers.

Consequently, the buy/sell ratio, a key indicator of market sentiment and direction, cannot be calculated for any timeframe, including All Time, annually, or recent quarters.

The volume of inter-landlord trading remains unknown. Data on what percentage of buy transactions originate from other landlords is not available, obscuring insights into market liquidity and asset trading among investors.

Similarly, it is not possible to analyze the average buy prices versus sell prices over time, which would typically provide an indication of gross margins or value appreciation for investors.

Without this data, a comparison between the behavior of the overall landlord market and institutional investors is also not feasible, though other data confirms institutional investors have no holdings in the county.

The transaction market in Clark County was entirely dormant in Q4 2025, with zero total SFR transactions recorded. This resulted in landlords having a 0.0% share of a non-existent market.

Activity was uniformly zero across all investor tiers. Neither small 'mom-and-pop' landlords nor any mid-size investors engaged in buying or selling properties during this period.

Due to the lack of purchases, analysis of acquisition pricing strategies is impossible. The average purchase prices by tier, as well as the price spread between the highest and lowest tiers, are all zero.

Inter-landlord trading was also non-existent. The percentage of properties bought from other landlords was 0%, as no acquisitions of any kind occurred.

This complete halt in transactional flow indicates a potential market imbalance, where inventory is tightly held and owners are not willing or needing to sell, leading to zero liquidity.