McCormick (SC) Investor Pulse Report (2026-Q1)

In McCormick County, SC, the real estate investing landscape is defined by small, independent owners. Individual landlords own 173 of the 182 investor-held SFRs, a staggering 95.1% share, leaving just 9 properties (4.9%) under company ownership.

The investor profile is further clarified by entity counts, where 196 of the 205 total landlords are individuals. This 95.6% share of entities underscores a market built on personal investment rather than corporate strategy.

A significant financial characteristic of this market is the complete absence of leverage among investors. All 182 investor-owned properties are held free and clear with no financing, indicating a fiscally conservative or cash-heavy investor base.

The portfolio's primary function is rental income, with 179 of the 182 properties (98.4%) being rented or non-owner-occupied. This high rental penetration confirms that the overwhelming majority of SFR investments are for generating cash flow.

The total investor portfolio of 182 properties represents a 6.1% share of the 2,992 total SFR properties in the county, showing a modest but present investor footprint in the overall housing market.

Recent landlord acquisition activity has completely ceased in McCormick County, with zero properties purchased by investors in all of 2025 and 2024. This halt indicates a significant market slowdown or a shift in investor strategy away from acquisitions.

Historical pricing data from earlier in 2025 reveals extreme volatility characteristic of an illiquid market. In Q1 2025, for instance, the modeled landlord price of $130,000 was 72.8% below the traditional homeowner price of $477,748, a massive discount of $347,748.

This trend sharply reversed in Q2 2025, where a single anomalous transaction or model update resulted in a landlord price of $950,000. This was a 96.3% premium over the homeowner average of $483,968, highlighting the unreliability of pricing trends in such a low-volume environment.

The long-term price trend shows appreciation, with the average acquisition price from 2020-2023 at $258,685. However, without any recent transactions, it is impossible to gauge current market values accurately.

The stark contrast between deep discounts and high premiums quarter-to-quarter, coupled with zero recent activity, suggests that investor pricing is highly opportunistic and dependent on one-off deals rather than predictable market patterns.

The investor purchase market in McCormick County came to a standstill in Q4 2025, with landlords acquiring zero properties. This represents 0.0% of all market activity for the quarter.

The inactivity was not limited to investors. The data shows that there were zero total SFR purchases across the entire county in Q4 2025, indicating a broader market freeze affecting all buyer types, including traditional homeowners.

As a result, no new landlords entered the market, and existing investors across all tiers, from mom-and-pop to institutional, did not add to their portfolios. The number of new single-property landlords (Tier 01) entering the market was zero.

This complete lack of purchasing velocity suggests extremely limited inventory, a lack of willing sellers, or a pause in buyer demand, creating a uniquely stagnant market environment leading into the new year.

The absence of transactions prevents any analysis of Q4 pricing strategies or competition between different investor tiers, as the market provided no data points for comparison.

The investor landscape in McCormick County is exclusively composed of small-scale operators. Mom-and-pop landlords, defined as those owning 1-10 properties, control 100.0% of the 182 investor-owned SFRs.

The market structure is heavily skewed toward the smallest investors. Landlords with just a single property (Tier 01) represent the overwhelming majority, holding 174 properties, which constitutes 95.6% of the entire investor portfolio.

Mid-size and institutional investors are completely absent from this market. Landlords in the 1,000+ property tier (Tier 09) own zero properties, defying the common narrative of large-scale corporate ownership in rental markets.

The remaining small portion of the portfolio is held by investors with 2-10 properties. Those with two properties hold 2.2% of the market, while the 3-5 and 6-10 property tiers hold just 1.6% and 0.5%, respectively. You can explore more data in the property ownership by owner type report.

This distribution highlights a market characterized by local, small-scale investment, where the barrier to entry is low enough for individuals but the scale is insufficient to attract larger corporate or institutional capital.

Individual investors are the primary owners in every segment of McCormick County's rental market. In the largest tier of single-property landlords, individuals own 167 of the 174 properties (96.0%).

Even as portfolio sizes increase slightly, individual ownership remains dominant. For two-property portfolios, individuals own 75.0% (3 properties), and they own 100.0% of the properties in the 3-5 unit tier.

There is no crossover point at which companies become the majority owners. The limited company presence, just 9 properties in total, is scattered across the smallest tiers and never achieves a dominant share.

This pattern reinforces the county's market character as one driven by personal investments, not corporate entities. The decision-making and ownership structure are fundamentally tied to individual landlords.

The lack of company penetration even in slightly larger portfolios suggests that the local market dynamics do not favor or necessitate the corporate liability shields or capital pooling that LLCs and other entities typically provide.

Geographic concentration is a key feature of investor ownership in McCormick County. A single zip code, 29835, is home to 123 of the 182 investor-owned properties, accounting for 67.6% of the entire investor portfolio.

However, the highest concentration by count does not equate to the highest market penetration. The 29840 zip code has the highest investor ownership rate at 13.3%, indicating a greater density of rental properties relative to its total housing stock.

The 29845 zip code demonstrates a strong balance of both volume and density. It ranks second for total investor properties with 29 and also second for ownership rate at 10.5%, making it a significant hub for investment activity.

Other areas with notable investor presence include 29628 (9.5% rate) and 29848 (8.2% rate), showing that while ownership is concentrated, several smaller pockets of investment exist across the county. A detailed property search can reveal specific opportunities in these zip codes.

This distinction between high-volume and high-penetration areas is critical for understanding market dynamics. One area offers scale, while others signal a higher saturation of rental-focused housing.

The transaction history for investors in McCormick County reveals a market with very low liquidity. For the year 2025, transaction activity was perfectly balanced, with landlords purchasing 4 properties and selling 4 properties, resulting in a net neutral position.

Quarterly data shows minor, volatile shifts in behavior. In Q3 2025, investors were slight net buyers, acquiring 2 properties while selling only 1. This trend was reversed in Q2 2025, when they were net sellers, with 1 acquisition against 2 sales.

This fluctuation between net buying and net selling on such low volume indicates that market direction is driven by individual transactions rather than a broad, underlying trend. The market lacks momentum in either direction.

Consistent with all other findings for the county, there was zero transaction activity recorded for institutional investors in the 1,000+ property tier. All buying and selling is conducted by small, mom-and-pop landlords.

The minimal transaction volume (averaging less than one buy and one sell per month) signifies a stable, hold-oriented investor base with very few properties changing hands, creating a challenging environment for new investors seeking entry.

In Q4 2025, the investor transaction market in McCormick County was entirely dormant. Landlords were involved in zero transactions, accounting for a 0.0% share of market activity.

This inactivity was universal. The data confirms zero total transactions took place across the entire county's SFR market, meaning no homes were sold by or to any party, investor or otherwise.

Consequently, analysis by investor tier is not possible. Mom-and-pop landlords (Tiers 01-04) and institutional investors (Tier 09) both recorded zero transactions. There were no properties bought or sold within any tier.

The lack of sales prevents any assessment of Q4 pricing strategies. The average purchase price for all tiers was $0, and no data is available to compare pricing between smaller and larger landlords.

Similarly, inter-landlord trading activity was nonexistent. The percentage of properties bought from other landlords was 0%, as no acquisitions of any kind occurred.