San Juan (UT) Investor Pulse Report (2026-Q1)

In San Juan County, investors hold a significant 58.5% of the Single Family Residential (SFR) market, controlling 1,083 out of 1,852 total properties.

Individual investors are the overwhelming majority, owning 1,002 properties, which accounts for 92.5% of all investor-owned SFRs. In contrast, company-owned properties number just 121, representing an 11.2% share.

The market is defined by small-scale ownership, with 1,525 individual landlords compared to only 99 company landlords, reinforcing the 'mom-and-pop' character of the local rental landscape.

A defining feature of this market is the complete absence of financing on investor-held assets. All 1,083 properties are owned with cash, indicating a low-leverage, high-equity investment strategy is prevalent among local landlords.

The portfolio is almost entirely dedicated to rental purposes, with 1,081 of the 1,083 properties classified as rented, signaling a strong focus on generating rental income rather than short-term speculation.

There is no available acquisition pricing data for landlords or traditional homeowners in San Juan County for recent timeframes, including Q4 2025.

Due to the lack of recent sales, a comparison between what landlords and homeowners pay for properties cannot be conducted.

Analysis of pricing trends, such as appreciation from the 2020-2023 period to the present, is not possible given the absence of transactional data.

The absence of sales activity prevents any analysis of a potential landlord discount or premium in the market.

Further market monitoring is required to establish pricing benchmarks once transaction activity resumes in the county.

The real estate market in San Juan County experienced a complete halt in activity during Q4 2025, with zero SFR properties purchased by any buyer type.

Consequently, landlords acquired zero properties, representing 0.0% of all market activity for the quarter.

This inactivity was consistent across all investor tiers, from new single-property landlords (Tier 01) to institutional funds (Tier 09), none of whom made any purchases.

The lack of transactions indicates that no new landlords entered the market in Q4 2025, and existing investors paused portfolio expansion.

This market freeze is a significant event, suggesting extremely limited inventory, a lack of willing sellers, or a complete pause in buyer demand during the period.

Ownership in San Juan County is heavily concentrated among the smallest investors. Landlords with 1-10 properties (Tiers 01-04) command a staggering 98.0% of the investor-owned SFR market.

Single-property landlords (Tier 01) are the definitive backbone of the rental market here, owning 985 properties, which constitutes 88.2% of all investor holdings.

Mid-size landlords are a minor segment, with those owning 11-20 properties holding a 1.8% share and those with 21-50 properties holding just 0.2%.

The market completely lacks an institutional investor presence, as Tier 09 (1,000+ properties) holds 0.0% of the properties.

This distribution underscores a hyper-localized market dominated by small, independent owners rather than large-scale corporate landlords.

Individual investors are the primary owners across all portfolio sizes in San Juan County. In the largest tier, single-property owners, individuals hold 940 properties (92.2%) compared to 79 for companies (7.8%).

This pattern continues in the two-property tier, where individuals own 72 properties (91.1%) versus just 7 for companies (8.9%).

While companies increase their relative share as portfolio sizes grow, they do not achieve a majority in any tier. In the 3-5 property tier, companies own 10 properties, a 34.5% share, but are still outnumbered by the 19 properties (65.5%) held by individuals.

The data clearly shows that company ownership, while present, is a minor factor in the market structure at every level of investment.

There is no crossover point where companies become the dominant owner type, reinforcing the market's character as being driven by private, individual capital.

Investor ownership in San Juan County is not evenly distributed but is instead concentrated in a few key areas. The zip code 84535 is the epicenter, with 620 investor-owned properties, representing a 91.7% ownership rate.

Several smaller zip codes exhibit complete investor saturation. Both 84510 and 84534 report a 100.0% investor ownership rate, indicating no traditional homeowner presence.

The trend of high concentration continues with 84512, which has a 96.6% investor ownership rate, and 84530, with a 76.3% rate.

This pattern reveals that certain neighborhoods or towns within the county are almost exclusively rental markets, which has profound implications for local housing dynamics.

The top five zip codes by property count are 84535 (620), 84511 (231), 84530 (116), 84512 (57), and 84532 (57), showcasing the scale of concentration.

Historical transaction data for San Juan County is not available, which prevents a full analysis of long-term market dynamics.

As a result, it cannot be determined whether landlords have historically been net buyers or net sellers in this market.

The volume of landlord-to-landlord transactions, a key indicator of market liquidity and sophistication, remains unknown.

Similarly, no analysis of average buy and sell prices over time can be performed to understand historical price trends or potential investor profit margins.

This data gap means that the current market freeze in Q4 2025 cannot be contextualized against previous periods of activity.

Confirming the trend from the purchase summary, the transaction market in San Juan County was at a complete standstill in Q4 2025, with zero total transactions recorded.

Landlords, therefore, accounted for 0.0% of market activity, as there was no activity to participate in.

This lack of transactions was universal across all investor sizes. Both small mom-and-pop landlords (Tiers 01-04) and larger investors recorded zero transactions.

Consequently, there was no inter-landlord trading activity, meaning no properties were bought from or sold to other investors during the quarter.

The absence of any sales prevents analysis of purchase prices by tier, highlighting a market that was effectively frozen for the entire period.