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

In Decatur County, landlords own a significant 31.0% of the single-family residential market, totaling 362 properties out of 1,169.

The ownership landscape is dominated by 386 individual landlords who control 317 properties, representing 87.6% of the investor-owned housing stock. In contrast, 39 companies own the remaining 48 properties (13.3%).

A defining characteristic of this market is its complete lack of leverage; 100% of the 362 investor-owned properties were acquired with cash, with no financed properties recorded. This points to a financially conservative, debt-averse investor base.

The portfolio is heavily geared towards rental income, with 354 properties classified as rented. This indicates that nearly the entire investor-owned stock is actively serving the local rental market.

The ratio of individual to company landlords is nearly 10-to-1 (386 vs 39), reinforcing the profile of a market driven by local, small-scale investors rather than larger corporate entities.

Due to a lack of recorded transactions in the available timeframes, no pricing data is available for Decatur County. This prevents any analysis of acquisition prices for landlords or traditional homeowners.

Consequently, a comparison of the price gap between landlords and homeowners cannot be conducted. The typical trend of landlords acquiring properties at a discount cannot be verified in this market.

Analysis of price appreciation or changes quarter-over-quarter is not possible. The market's low transaction velocity means historical pricing benchmarks are unavailable.

It is not possible to determine if individual and company landlords pay different prices for properties within the county.

The lack of data itself is an insight, suggesting a highly stable or illiquid market where properties are held for long durations with infrequent sales.

Q4 2025 was a period of complete inactivity in the Decatur County SFR market, with a total of zero properties purchased by any buyer type. Landlords, therefore, had a 0.0% share of a non-existent market.

No new landlords entered the market in Q4, as indicated by zero purchases in the single-property (Tier 01) category. This contrasts with more dynamic markets where new investors are constantly entering.

Activity was flat across all investor tiers, with mom-and-pop landlords (Tiers 01-04) and institutional investors (Tier 09) both recording zero purchases.

The absence of sales underscores a buy-and-hold mentality among current owners and a potential lack of available inventory for prospective buyers.

This lack of transactional velocity suggests that market changes in Decatur County are likely to be slow and driven by long-term holding patterns rather than speculative, short-term trading.

The investor landscape in Decatur County is defined by small-scale ownership, with mom-and-pop landlords (1-10 properties) controlling 372 of the 362 investor-owned properties, a staggering 98.9% share.

Single-property landlords (Tier 01) are the foundation of the market, owning 266 properties, which alone accounts for 70.7% of all investor-owned SFRs.

Conversely, there is a complete absence of large-scale institutional investment. The 1,000+ property tier (Tier 09) holds a 0.0% share, indicating this market is not on the radar of national corporations.

Mid-size landlords are also exceptionally rare, with only two portfolios in the 21-50 and 101-1000 property tiers, collectively owning just 4 properties (1.0%).

This extreme concentration in the smallest tiers highlights a market built on local, individual capital and runs contrary to narratives of widespread corporate ownership of single-family homes.

Individual investors form the bedrock of ownership in Decatur County, holding the majority of properties in every tier below six properties. They own 91.1% of single-property portfolios and 90.5% of 3-5 property portfolios.

The crossover point where corporate ownership becomes dominant occurs in the 6-10 property tier. In this segment, companies own 8 properties (57.1%), while individuals own 6 (42.9%).

Even with a majority in the 6-10 property tier, company ownership remains a small fraction of the overall market, accounting for just 48 of the 362 total investor properties.

The data clearly shows that as portfolio sizes increase, ownership tends to shift from personal names to corporate entities, a common strategy for liability and management purposes.

Due to the lack of transaction data, it is impossible to analyze if a pricing advantage exists for either individual or company buyers within any tier.

While zip code 67749 contains the highest number of investor-owned properties at 233, this represents a 25.3% ownership rate for that area.

The highest concentrations of investor ownership are found in smaller zip codes. In 67653, investors own 59 properties, accounting for an exceptionally high 60.8% of the local housing stock.

Similarly, zip code 67643 shows a majority investor ownership rate of 52.0% (51 properties), and 67629 follows at 50.0%.

This highlights a key geographic pattern: the largest volume of investor properties is not in the areas with the highest percentage of investor ownership. This suggests different market dynamics across the county's zip codes.

The data points to hyper-local pockets where rental properties make up the majority of the housing market, indicating a strong, localized demand for rental units.

A complete lack of historical transaction data for Decatur County makes it impossible to analyze long-term investor behavior. Key metrics like buy/sell ratios cannot be determined.

It is not possible to identify whether landlords have historically been net buyers or net sellers, a crucial indicator of market direction and sentiment.

The degree of market liquidity, often measured by landlord-to-landlord transactions, cannot be assessed. This internal market activity is a key sign of a mature investor community.

Similarly, an analysis of implied profit margins through the comparison of average buy and sell prices is not feasible.

The absence of this data strongly suggests a market characterized by very low turnover, where properties are acquired and held for extended periods, likely as long-term rental income assets.

The fourth quarter of 2025 saw no transactional activity in the Decatur County SFR market, with total transactions at zero. Consequently, landlords' share of transactions was 0.0%.

No investor tier, from single-property landlords to larger operators, recorded a purchase or sale, reflecting a universally static market during this period.

Analysis of purchasing strategies, such as average prices paid by different tiers, is not possible due to the lack of sales events.

The percentage of properties acquired from other landlords, a key metric for understanding market churn, was 0% for all tiers given the absence of acquisitions.

This frozen state of Q4 activity aligns with all other data points for the county, painting a picture of a stable, buy-and-hold rental market rather than one focused on property trading.