King and Queen (VA) Investor Pulse Report (2026-Q1)

In King and Queen County, investors hold a substantial 41.6% of the Single-Family Residential (SFR) market, totaling 1,112 properties out of 2,676 available SFRs.

The market is dominated by individual investors, who own 907 properties, accounting for 81.6% of the investor-owned portfolio. Company investors hold the remaining 209 properties, or 18.8%.

A defining characteristic of this market is the preference for cash acquisitions. Of the investor-owned properties, 1,049 were purchased with cash, while only 63 are financed, indicating a low-leverage strategy among the local investor base.

This individual focus extends to the entity count, where 1,111 individual landlords operate compared to just 180 companies. This reinforces the 'mom-and-pop' nature of real estate investing in the county.

The vast majority of the portfolio, 1,097 properties, is classified as rented, confirming that the primary strategy for these holdings is generating rental income.

Pricing for landlord acquisitions in King and Queen County shows significant volatility and a notable divergence from traditional homeowner prices. In 2025-Q1, landlords theoretically paid a 5.6% premium, with an average price of $350,000 compared to the homeowner average of $331,429.

This trend completely reversed in the following quarters. In 2025-Q2, landlords were priced at a 30.7% discount ($241,667 vs. $348,767 for homeowners), and in 2025-Q3, they saw a 24.0% discount ($246,937 vs. $324,988).

It is critical to note that there were zero landlord property acquisitions recorded in 2025, making these price points theoretical. This lack of transaction volume suggests a market with very low liquidity for investors.

Historically, prices have risen steadily. The average acquisition price during the 2020-2023 period was $213,614, climbing to a theoretical average of $292,079 in 2025.

The fourth quarter demonstrated a complete freeze in investor acquisition activity in King and Queen County. Of the single SFR property purchased in the entire market, none were acquired by landlords.

This inactivity was universal across all investor sizes. Mom-and-pop landlords, who represent the overwhelming majority of owners, made no new purchases.

Similarly, there was no activity from mid-size or institutional investors, reflecting a market-wide pause on new acquisitions heading into the end of the year.

The lack of purchases in the single-property tier signifies that no new investors entered the rental market in King and Queen County during this period.

This halt in purchasing activity points towards potential market saturation or a 'wait-and-see' approach from local investors in the current economic climate.

The ownership structure in King and Queen County is unequivocally dominated by small-scale investors. Mom-and-pop landlords, defined as those owning 1-10 properties, control a staggering 98.5% of the investor-owned SFR market.

The single-property tier (Tier 01) is the bedrock of the local rental market, with these owners holding 885 properties, which constitutes 77.3% of the entire investor portfolio.

As portfolio size increases, the number of properties drops off sharply. Landlords with 2 properties hold 10.0% of the market, those with 3-5 properties hold 8.9%, and those with 6-10 properties hold just 2.4%.

There is virtually no large-scale investor presence. Tiers representing owners with more than 20 properties collectively own just 0.5% of the investor-held housing stock.

Confirming the hyper-local nature of the market, institutional investors (Tier 09, 1,000+ properties) have absolutely no footprint, owning 0.0% of the properties in the county.

Individual investors maintain majority ownership across every single investor tier in King and Queen County, highlighting a market where corporate consolidation has not occurred.

In the largest tier, single-property owners, individuals hold 744 of the 885 properties, an 83.7% share, compared to 16.3% for companies.

This pattern persists as portfolios grow. Individuals own 75.4% of properties in the two-property tier and 74.5% in the 3-5 property tier.

Even in the small-medium tier of 11-20 properties, which often sees a shift towards corporate ownership in other markets, individuals still control a two-thirds majority (66.7%).

Unlike in larger metropolitan areas, there is no 'crossover point' where companies become the dominant owner type. Individual, small-scale ownership is the defining feature of the entire market structure.

Investor ownership in King and Queen County is geographically concentrated, with a few zip codes accounting for a large portion of the activity. The 23156 zip code leads by volume, with 266 investor-owned SFRs, representing a high ownership rate of 48.2%.

Other key areas of concentration include 23148 with 200 properties (39.6% rate) and 23110 with 135 properties (41.5% rate), showing that high-volume areas also have high investor penetration.

The highest rate of investor ownership is in the 22514 zip code, where investors own a remarkable 66.7% of the SFR housing stock, indicating a market heavily tilted towards rentals.

The zip code 23149 also shows significant saturation, with an investor ownership rate of 52.0%.

Overall, the data reveals a county with deep investor penetration across its primary residential areas, with all top regions showing ownership rates near or well above 40%.

Despite a recent halt in purchasing, landlords in King and Queen County have been net buyers over the past two years. In 2025, they acquired 8 properties while selling only 1, a clear signal of accumulation.

This trend continues from the prior year, as landlords purchased 7 properties and sold 2 in 2024, maintaining a positive net acquisition status.

The volume of these transactions is exceptionally low, with fewer than 10 transactions per side annually. This indicates a market with very little churn, where investors tend to hold their properties long-term.

There is no transaction data available for institutional investors, which is consistent with their 0.0% ownership share in the county. All recorded activity stems from smaller landlords.

Investor transaction activity in King and Queen County was completely stagnant in the fourth quarter. Landlords were not a party to the single SFR transaction that occurred, resulting in a 0% market share.

This inactivity spanned the entire spectrum of investor sizes. The typically active mom-and-pop tiers (1-10 properties) recorded zero transactions for the quarter.

Likewise, mid-size and institutional tiers were also dormant, with no buying or selling activity logged.

As a result of the frozen market, there was no inter-landlord trading. No properties were purchased from other landlords during this period, indicating a lack of portfolio churn among existing owners.

The complete absence of transactions suggests investors are holding their current assets, with neither new capital flowing in nor existing capital being reallocated within the market.