Franklin (ID) Investor Pulse Report (2026-Q1)

In Franklin County, investors hold 506 Single-Family Residential (SFR) properties, which constitutes 10.6% of the total 4,775 SFRs in the market. This reveals a notable, yet not dominant, investor footprint in the local housing landscape.

Ownership is skewed towards individuals, who own 300 properties (59.3%), compared to companies, which own 225 properties (44.5%). However, the entity count shows a more pronounced split, with 431 individual landlords versus 167 company landlords, highlighting that the typical real estate investing portfolio is small and personally managed.

A striking 96.8% of the investor-owned portfolio (490 properties) is rented. This high concentration underscores that the primary strategy for local investors is buy-and-hold for rental income rather than short-term flipping or speculation.

Cash is the preferred method of acquisition and holding, with 405 properties (80.0%) owned outright, while only 101 properties (19.9%) are financed. This suggests a market of well-capitalized investors who are less reliant on leverage and market financing fluctuations.

The total landlord entity count of 598 overseeing 506 properties indicates that the average portfolio size is less than one property per entity, pointing to a high degree of co-ownership and partnership arrangements among local investors.

In a significant deviation from typical market behavior, landlords in Franklin County have recently paid substantial premiums compared to traditional homeowners. In Q3 2025, the average landlord acquisition price was $560,190, a staggering $124,347 (or 28.5%) more than the average homeowner price of $435,843.

This trend of paying a premium is not an isolated event. In Q1 2025, landlords paid an average of $1,184,232, representing a 165.1% premium over homeowners. This pattern suggests investors may be targeting unique or higher-value properties not typically sought by the average buyer, or are competing fiercely for limited inventory.

The price volatility is extreme, with premiums fluctuating from 3.1% to 165.1% in 2025. With zero landlord purchases recorded for 2026-Q1 or 2024-Q4, the data indicates that investor buying is sporadic and opportunistic rather than a steady flow of transactions.

Despite recent volatility, property values have shown significant long-term appreciation. The average landlord acquisition price during the 2020-2023 period was $433,208, which jumped to an average of $542,686 in 2025, marking a substantial increase in asset values for long-term holders.

Investor activity in Q4 2025 accounted for 10.7% of the total market, with landlords acquiring 6 of the 56 SFR properties sold. This share indicates a consistent but measured presence of investors in the local real estate market.

The entirety of this purchasing activity was driven by small-scale investors. Mom-and-pop landlords (Tiers 01-04) made up 100% of the quarter's investor acquisitions, completely shutting out mid-size and institutional buyers.

New entrants are the lifeblood of the local investor scene. Landlords in the single-property tier purchased 4 properties, representing 66.7% of all investor buys for the quarter. These purchases were made by 5 distinct entities, signaling fresh capital and new participants entering the rental market.

The acquisition data confirms the absence of large-scale players. Institutional investors (Tier 09, 1000+ properties) made zero purchases, reinforcing the finding that Franklin County's rental market is locally owned and operated.

Beyond new entrants, existing small landlords also expanded their portfolios. One landlord in the 2-property tier and another in the 6-10 property tier each added a property, demonstrating incremental growth among established local investors.

The ownership structure in Franklin County is overwhelmingly dominated by small-scale investors. Mom-and-pop landlords, defined as those owning 1-10 properties, control a staggering 97.7% of all investor-owned SFRs.

Single-property landlords form the bedrock of the market. This tier alone accounts for 365 properties, or 70.3% of the entire investor portfolio, highlighting the prevalence of individuals entering real estate investment one property at a time.

There is a complete absence of institutional capital in the Franklin County SFR market. Investors in the 1,000+ property tier hold 0.0% of the housing stock, a stark contrast to narratives of corporate landlord takeovers in other regions.

Even mid-size investors have a very limited footprint. Landlords owning 11-50 properties collectively hold just 12 properties, or 2.3% of the investor market, further emphasizing the hyper-local, small-scale nature of ownership.

The data from our property datasets shows a steep drop-off in ownership as portfolio size increases. While 365 properties are in Tier 1 (1 property), only 9 are in Tier 5 (11-20 properties), illustrating a market composed of many small players rather than a few large ones.

A distinct strategic shift occurs as investors expand their portfolios in Franklin County. While individuals dominate the entry-level single-property tier with 69.5% ownership (260 properties), companies become the majority owners starting at just the two-property level.

The crossover point is immediate and clear. In the two-property tier, companies own 28 properties (65.1%), indicating that investors quickly turn to incorporation as they acquire a second asset, likely for liability protection and operational efficiency.

Company ownership concentration intensifies with scale. For landlords in the 6-10 property tier, companies own 38 properties, an overwhelming 86.4% share, compared to just 6 properties held by individuals.

Even in the smallest mid-size tier (11-20 properties), companies maintain their majority, holding 6 properties (66.7%). This consistent pattern shows that formal business structures are the preferred vehicle for investors serious about portfolio growth.

This data reveals two distinct investor paths: the individual who may stop at one rental property, and the aspiring portfolio builder who incorporates early to facilitate expansion. The rapid transition to company ownership after the first property is a key feature of this market.

Geographic concentration is a defining characteristic of investor ownership in Franklin County. A single zip code, 83263, is the epicenter of activity, containing 371 investor-owned SFRs, or 73.3% of the county's entire investor portfolio.

While 83263 dominates by sheer volume, the highest rate of investor ownership is found elsewhere. The 83241 zip code has an investor ownership rate of 75.0%, an extreme outlier that suggests a very small area with few total homes, making it highly susceptible to skewed percentages.

Beyond the top zip code, investor presence drops off significantly. The second-largest concentration is in 83237, with only 50 properties, followed by 83286 with 35 properties. This steep decline highlights a targeted geographic strategy among local investors.

The zip codes with the highest investor ownership rates after the 83241 outlier are 83228 (13.5%) and 83232 (11.0%). These areas represent pockets of higher-than-average investor penetration, making them key sub-markets to watch.

The distinction between high-count areas (like 83263) and high-rate areas (like 83241 and 83228) is crucial. It shows that investors are concentrated in the county's main population center by volume, but have achieved higher market saturation in smaller, possibly more rural, communities.

Investors in Franklin County are in a clear accumulation phase, consistently buying far more properties than they sell. In 2025, landlords demonstrated a strong bullish sentiment with a buy-to-sell ratio of 4.9-to-1, purchasing 49 SFRs while only divesting 10.

This pattern of net buying is a multi-year trend. In 2024, the activity was nearly identical, with 49 buys and 12 sells, resulting in a net gain of 37 properties for the investor community and a 4.1x buy/sell ratio.

The momentum has carried into the current year. For Q1 2026, landlords have already purchased 9 properties while selling only 3, a 3-to-1 ratio that signals continued confidence in the local market and a strategy of portfolio expansion.

Institutional investors (1000+ tier) are entirely absent from these transaction records. Their lack of buying and selling activity reinforces that all market dynamics are being driven by smaller, local players.

The steady rate of acquisitions across recent years, with 49 properties purchased in both 2024 and 2025, suggests a stable and predictable level of investor demand in the Franklin County housing market.

In Q1 2026, landlords participated in 11.4% of the 79 total SFR transactions, acquiring 9 properties and underscoring their role as a consistent source of demand in the Franklin County market.

Activity was exclusively concentrated among the smallest investors. Mom-and-pop landlords (Tiers 01-04) accounted for 100% of these transactions, with institutional investors making no moves in the quarter.

A significant portion of investor acquisitions comes from within the community itself. First-time or single-property landlords purchased 7 properties, and 3 of those (42.9%) were bought from other landlords. This indicates a healthy level of churn where rental properties are traded between investors.

The average purchase price for single-property landlords in Q1 was $352,450. As this was the only tier with significant transaction volume, it sets the benchmark for entry-level investment properties in the current market.

The absence of transactions from larger-tiered investors further solidifies the market's character. The transactional flow is dominated by individuals and small companies buying their first, second, or third rental property, often from peers.