Crawford (IN) Investor Pulse Report (2026-Q1)

Real estate investors hold a substantial footprint in Crawford County, owning 908 Single-Family Residential (SFR) properties, which accounts for 35.1% of the total 2,587 SFRs in the market.

Individual investors are the definitive force in the county, owning 843 properties or 92.8% of the investor-owned inventory. In contrast, company-owned entities hold just 70 properties, representing a mere 7.7% share.

This dominance by individuals extends to the entity level, where 1,022 of the 1,089 total landlords are individuals (93.8%), compared to only 67 company landlords (6.2%).

The financing profile of these holdings reveals a strong preference for cash ownership. An overwhelming 97.9% of investor-owned properties (889 total) are held free of financing, with only 19 properties reported as financed.

The portfolio is almost entirely geared toward rentals, with 902 of the 908 investor-owned properties being rented. This 99.3% rental rate underscores the primary strategy of landlords in the Crawford County market.

Landlord acquisition pricing relative to traditional homeowners showed significant volatility in 2025, though based on extremely low or zero transaction volume. In Q1 2025, landlords averaged a purchase price of $170,389, a 12.1% discount compared to the homeowner average of $193,750.

This trend shifted dramatically in subsequent quarters. In Q2 2025, the landlord discount widened to 24.4% ($127,111 vs. $168,186), but in Q3, landlords paid a significant 41.1% premium ($176,986 vs. $125,401).

Crucially, the data shows zero distinct SFR properties were purchased by landlords in any quarter of 2024 or 2025. This suggests the average price figures are based on models or lagging data, and the primary insight is a complete freeze in recent investor acquisition activity.

Comparing recent modeled prices to the pandemic era (2020-2023), where the average acquisition price was $134,575, indicates a theoretical price appreciation. The modeled Year 2025 average of $164,496 represents a 22.2% increase from that period.

The complete absence of landlord purchases in 2024 and 2025 is the most significant finding, pointing to a market where investors have entirely paused new acquisitions, contrasting with prior active periods.

Investor acquisition activity in Crawford County came to a complete standstill in Q4 2025. Landlords purchased zero of the zero total SFR properties sold during the quarter, capturing 0.0% of the market.

The purchasing freeze was comprehensive, affecting all investor tiers equally. Mom-and-pop landlords (1-10 properties) acquired zero new properties, accounting for 0.0% of the non-existent investor activity.

Similarly, institutional investors in Tier 09 (1,000+ properties) also recorded zero purchases, reflecting a market-wide pause that extends from the smallest to the largest players.

This lack of activity means there were no new landlords entering the market via single-property purchases (Tier 01) during Q4 2025.

The data clearly indicates a period of inactivity for real estate investing in Crawford County, a stark contrast to previous periods of active buying shown in historical transaction data.

The investor market in Crawford County is overwhelmingly dominated by small-scale, mom-and-pop landlords. Tiers 01-04 (1-10 properties) collectively own 99.1% of all investor-held SFRs, demonstrating a near-total control of the rental landscape.

The concentration at the smallest end of the spectrum is extreme. Single-property landlords (Tier 01) alone own 833 properties, which constitutes 90.7% of the entire investor portfolio.

In contrast, institutional ownership is functionally non-existent. The largest tier of investors (1,000+ properties) holds just one property, representing a minuscule 0.1% share of the market.

Mid-size investors also have a very small presence. Landlords with 21-100 properties (Tiers 06 and 07) collectively own only 5 properties, or 0.5% of the investor-owned housing stock.

This distribution underscores a market structure built almost entirely on small, local investors rather than large, consolidated portfolios. This has significant implications for market stability and the nature of the local rental economy.

Individual investors maintain overwhelming control across all smaller portfolio tiers in Crawford County, leaving little room for company ownership. In the largest tier of single-property landlords, individuals own 788 of the 833 properties, a 94.1% share.

This pattern continues as portfolio sizes increase. Among two-property landlords, individuals own 50 properties (86.2%) compared to just 8 for companies (13.8%).

Even in the 3-5 property tier, the dominance persists, with individuals holding 14 properties (82.4%) versus 3 for companies (17.6%). The data does not show any tier where companies approach, let alone exceed, individual ownership.

There is no crossover point where companies become the majority owners in Crawford County. The market structure is firmly rooted in individual ownership from the smallest to mid-sized portfolios.

This complete dominance by individuals highlights a market with very low corporate proptech or institutional penetration, reinforcing the 'mom-and-pop' character of the local rental scene.

Geographic analysis reveals a stark concentration of investor ownership in a single area of Crawford County. Zip code 47513 is the epicenter, with 276 investor-owned properties, far surpassing any other region.

The ownership rate in 47513 is an exceptionally high 68.8%, meaning more than two-thirds of all SFRs in that zip code are investor-owned. This rate is a significant outlier compared to the rest of the county.

Other areas with notable investor presence include 47118 (146 properties, 28.4% rate) and 47137 (137 properties, 34.2% rate), but their ownership rates are less than half of the concentration seen in 47513.

The data shows a clear distinction between the top region by count (47513) and the top region by percentage (also 47513). This indicates that the area is not just a high-volume market but also one with deep market penetration by investors.

This hyperlocal concentration suggests targeted investment strategies or unique local market conditions in 47513 that are highly attractive to landlords compared to surrounding areas.

Historical transaction data reveals that landlords in Crawford County have been consistent net buyers, actively expanding their portfolios over the past several years. In 2025, they purchased 38 SFR properties while selling only 5, resulting in a net gain of 33 properties.

This pattern of accumulation was also strong in 2024, a year in which investors bought 18 properties and sold just 2, for a net increase of 16 properties.

In the most recent active quarter, Q2 2025, the net buying activity was particularly aggressive. Landlords acquired 13 properties and sold only one, demonstrating strong confidence in the market at that time.

There is no transaction data available for institutional investors (1,000+ tier), which aligns with their minimal ownership footprint in the county.

The established trend of landlords being aggressive net buyers provides critical context for the Q4 2025 data, which shows a complete stop in purchasing. This shift from strong accumulation to zero activity marks a significant and abrupt change in market dynamics.

The first quarter of 2026 saw a complete freeze in the transaction market in Crawford County, with landlords accounting for 0.0% of the zero total SFR transactions.

This inactivity was uniform across all investor sizes. Mom-and-pop landlords (Tiers 01-04), who constitute the vast majority of owners, conducted zero transactions during the quarter.

Likewise, institutional investors in Tier 09 also recorded zero transactions, showing that the market pause affected all segments, from individual buyers to large portfolios.

With no purchases made, the average purchase price for every tier was effectively $0. This highlights a market where no capital was deployed by investors into new acquisitions.

Furthermore, the data shows no inter-landlord trading activity. The percentage of properties bought from other landlords was zero, indicating a complete lack of liquidity and portfolio shuffling within the investor community during Q1.