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

In Montgomery County, investors hold a substantial 3,601 Single-Family Residential properties, which constitutes 33.2% of the total 10,852 SFRs in the market.

Ownership is heavily skewed towards individual 'mom-and-pop' investors, who own 2,918 properties, or 81.0% of the entire investor portfolio, compared to the 708 properties (19.7%) held by companies.

A striking financial characteristic of this market is the dominance of cash ownership. A total of 3,523 investor-owned properties are held free and clear, while a mere 78 are financed, signaling a low-leverage, high-equity investment strategy is prevalent in the area.

The investor portfolio is almost entirely dedicated to rentals, with 3,519 properties identified as rented. This high rental penetration underscores the primary focus on generating rental income from these assets.

The entity landscape mirrors the property ownership split, with 3,337 individual landlords far outnumbering the 329 company landlords, reinforcing the market's small-scale, non-institutional character.

Recent market activity for both landlords and traditional homeowners in Montgomery County has been nonexistent, with zero recorded property purchases in any quarter of 2025.

Due to the complete lack of recent transactions, a comparison between landlord and homeowner acquisition prices for the current period cannot be performed.

The absence of sales data prevents any analysis of pricing trends, such as the widening or narrowing of a potential price gap between investor and consumer buyers.

The most recent available pricing data is for the 2020-2023 timeframe, during which landlords acquired properties at an average price of $60,650.

This halt in transactional activity suggests a highly illiquid 'buy-and-hold' market where assets are not frequently traded.

Investor purchasing activity in Montgomery County came to a complete standstill in Q4 2025, with landlords making zero acquisitions out of zero total SFR purchases in the market.

Consequently, landlords captured a 0.0% share of the market, reflecting a period of extreme inactivity and a lack of new investment flowing into the area's housing stock.

Activity was nonexistent across all investor sizes. Mom-and-pop landlords (1-10 properties) and institutional investors (1000+ properties) both recorded zero purchases for the quarter.

This universal pause in acquisitions suggests that local market conditions, rather than specific investor-tier strategies, are driving the lack of transactional volume.

The data highlights a market characterized by long-term holds rather than active trading, with no new landlords entering the market or existing ones expanding their portfolios during Q4.

The investor landscape in Montgomery County is unequivocally dominated by small-scale operators. Mom-and-pop landlords (owning 1-10 properties) control a combined 92.1% of all investor-owned SFRs.

Single-property landlords form the bedrock of the market, with 2,231 entities owning 2,231 properties, which accounts for 59.0% of the entire investor portfolio.

In stark contrast, institutional-scale investment is virtually absent. The 1000+ property tier contains only one property, representing a negligible 0.0% share of investor holdings.

Mid-size landlords (11-100 properties) also have a limited footprint, collectively owning just 294 properties, or 7.8% of the investor-owned market.

This distribution reveals a highly fragmented market structure, heavily reliant on local, small-portfolio individuals rather than large, professionalized real estate corporations.

Individuals form the foundation of the investor market, overwhelmingly owning the smallest portfolios. They hold 90.8% of single-property portfolios and 87.5% of two-property portfolios.

A clear transition to corporate ownership occurs as portfolios scale. Companies become the majority owners in the 11-20 property tier, controlling 160 properties (74.4%) compared to individuals' 55.

This trend continues into the 21-50 property tier, where companies own 51 properties, representing a 67.1% majority share for that segment.

The data illustrates a distinct pattern of professionalization: while individuals initiate investment, scaling beyond 10 properties typically involves forming a corporate entity.

Due to the lack of any recent purchasing activity, it is not possible to compare the acquisition prices or strategies between individual and company investors.

Investor ownership in Montgomery County is geographically concentrated, with just two zip codes, 67337 (1,470 properties) and 67301 (1,242 properties), accounting for 75.3% of all investor-owned SFRs.

Certain smaller zip codes exhibit exceptionally high rates of investor ownership, indicating they are almost entirely rental markets. Zip code 67355 has a 100.0% investor ownership rate, followed by 67363 at 84.0% and 67340 at 68.8%.

The zip code with the highest count of investor properties, 67337, also has a high penetration rate of 35.0%, showing a deep saturation of rental housing in that area.

This intense geographic clustering suggests that investor activity is targeted and not evenly distributed, focusing on specific neighborhoods or communities within the county.

The data highlights a dichotomy between regions of high volume (like 67337) and regions of high saturation (like 67355), both pointing to significant landlord presence.

The historical transaction data reveals a complete lack of recent market activity, with zero buy and zero sell transactions recorded for landlords in all analyzed timeframes.

This absence of trading activity makes it impossible to determine if landlords in Montgomery County are currently net buyers or net sellers, as there is no data to form a buy/sell ratio.

Similarly, institutional investors (1000+ tier) also show no transaction history, meaning their market position—whether they are accumulating or divesting—cannot be assessed.

Without any sales, analysis of inter-landlord trading is not possible. There is no evidence of properties being traded between different investors.

The data points to a highly illiquid, static market where investors are holding their properties for the long term rather than actively trading them.

In Q4 2025, the real estate market in Montgomery County saw zero transactions, resulting in a 0.0% market share for landlords.

This inactivity was uniform across all investor sizes. Mom-and-pop landlords (Tiers 01-04) and institutional investors (Tier 09) both recorded zero transactions for the quarter.

As there were no purchases, it is not possible to analyze the average purchase prices by tier or identify any pricing strategies between different investor groups.

The level of inter-landlord trading was also zero, as no properties were bought or sold by any investor during this period.

This complete lack of transactional volume in Q4 underscores the buy-and-hold nature of the local market, where properties are rarely put up for sale.