Rush (KS) Investor Pulse Report (2026-Q1)

Investors hold a significant 52.9% of the single-family residential market in Rush County, controlling 692 out of 1,307 total SFR properties. This high penetration rate indicates a market heavily influenced by real estate investing activity.

The ownership structure is overwhelmingly dominated by individual investors, who own 593 properties, or 85.7% of the investor portfolio. In contrast, company-owned properties number just 101, making up the remaining 14.6%.

A striking financial characteristic of this market is the complete absence of leverage among investors. All 692 investor-owned properties are classified as cash holdings, with zero properties financed, suggesting a low-risk, debt-free investment strategy is prevalent in the area.

There are 806 distinct landlord entities operating in the county, with 750 being individuals and 56 classified as companies. This 13-to-1 ratio of individual-to-company landlords further underscores the 'mom-and-pop' nature of the local rental market.

The portfolio is heavily geared towards rental use, with 682 properties listed as rented. This demonstrates a clear focus on generating rental income rather than short-term speculation or other investment strategies.

Analysis of acquisition pricing and market trends is not possible for Rush County due to a complete lack of transactional data in recent periods. There were no recorded SFR purchases by landlords in the timeframe spanning from 2020 through Q1 2026.

Consequently, a price comparison between landlords and traditional homeowners cannot be performed. The data shows zero transactions for both groups, indicating an extremely quiet or stalled real estate market.

Without any recorded sales, it is impossible to assess price appreciation or depreciation from the pandemic era (2020-2023) to the current quarter. The average acquisition price for the 2020-2023 period is listed as $53,252, but this is based on zero properties purchased.

The absence of buying activity from either individual or company landlords means no determination can be made about which group might pay more or less for properties in this market.

The lack of transactions suggests that the current investor portfolio is static, with owners holding onto their properties and no new investors entering the market through purchases in the observed periods.

Investor purchasing activity in Rush County was nonexistent in Q4 2025, with landlords acquiring 0 of the 0 total SFRs sold. This indicates a complete pause in market transactions for the quarter.

The lack of activity was universal across all investor sizes. Mom-and-pop landlords, who constitute the vast majority of owners in the county, made no new purchases.

Similarly, there was no acquisition activity from mid-size or institutional investors, reflecting a market-wide halt in portfolio growth through new acquisitions.

No new landlords entered the market in Q4 2025, as indicated by zero purchases within the single-property (Tier 01) category. The existing base of 806 landlords remained static.

This halt in purchasing activity stands in stark contrast to the county's high overall investor ownership rate, suggesting a mature or saturated rental market where existing owners are holding assets rather than expanding.

The investor market in Rush County is definitively controlled by small-scale operators. Mom-and-pop landlords (owning 1-10 properties) hold a combined 93.7% of all investor-owned SFRs.

Single-property landlords (Tier 01) are the most significant group, owning 512 properties, which represents 73.4% of the entire investor portfolio. This highlights the granular, small-scale nature of the local rental market.

Mid-size investors play a minor role, with Tiers 05-08 (11-1000 properties) collectively owning just 6.3% of the investor-held housing stock in the county.

There is a complete absence of large-scale institutional ownership. Investors in Tier 09 (1,000+ properties) own zero properties, reinforcing the narrative that this is a market driven entirely by smaller, local players.

Because there were no recent transactions, it is not possible to compare acquisition prices across tiers to determine if larger investors pay more or less than smaller ones.

Individual investors form the backbone of ownership in Rush County across all represented tiers. In the largest tier of single-property owners, individuals hold 473 properties (92.0%) compared to just 41 (8.0%) for companies.

This pattern of individual dominance continues up the scale. For two-property portfolios, individuals own 86.9% of properties, and for landlords with 3-5 properties, they own 85.7%.

There is no crossover point where companies become the majority owners. In fact, in the 6-10 property tier, individuals account for 100% of the 23 properties owned.

Due to the lack of any purchasing activity in recent quarters, it's impossible to analyze or compare acquisition prices between individual and company buyers within any tier.

The data clearly shows that company investment is a very small fraction of the market at every level, with individuals driving the overwhelming majority of rental property ownership in the county.

Investor ownership is highly concentrated within specific zip codes in Rush County. The zip code 67548 has the highest number of investor-owned properties at 330, representing 53.6% of its local SFR housing stock.

Some areas exhibit exceptionally high investor penetration rates. The zip code 67513 leads with a 72.1% investor ownership rate, followed closely by 67565 at 67.1% and 67520 at 58.6%.

These hyper-concentrated pockets of investor activity significantly exceed the already high county-wide average of 52.9%, indicating that certain communities are predominantly rental markets.

The top regions by sheer count of investor properties are 67548 (330 properties), 67565 (114 properties), and 67520 (75 properties).

The data on acquisition prices by zip code is unavailable due to the lack of transactions, preventing an analysis of how property values may differ across these investor-heavy areas.

A historical analysis of landlord transactions in Rush County cannot be conducted, as the dataset contains no records of buy or sell activities. This prevents any assessment of market liquidity or investor sentiment over time.

It is not possible to determine whether landlords have been net buyers or net sellers. The buy-to-sell ratio, a key indicator of market direction, cannot be calculated.

The degree of inter-landlord trading remains unknown. Data on what percentage of transactions are between existing landlords is unavailable, obscuring insights into portfolio exchanges within the investor community.

Similarly, institutional investor transaction patterns cannot be analyzed. With zero properties owned by the 1,000+ tier, their historical buy/sell behavior in this market is nonexistent.

An analysis of implied margins is also not feasible, as there are no average buy prices or average sell prices to compare across any timeframe.

The first quarter of 2026 saw a complete standstill in the Rush County real estate market, with zero total transactions recorded. Consequently, the landlord share of transactions was 0.0%.

This inactivity was consistent across all investor sizes. Mom-and-pop landlords (Tiers 01-04), who own over 93% of the investor-held properties, conducted no transactions.

Likewise, mid-size and institutional-tier investors also recorded zero transactions, reflecting a market-wide absence of both acquisitions and dispositions.

As there were no purchases, analysis of inter-landlord trading is moot. The percentage of properties bought from other landlords was zero for all tiers.

Average purchase prices by tier cannot be compared, as no properties were purchased. This lack of data prevents any insight into the purchasing strategies or pricing power of different investor segments during Q1.