Gove (KS) Investor Pulse Report (2025-Q4)

Investor ownership in Gove County, KS is exceptionally high, with landlords holding 491 of the 885 Single-Family Residential properties, a market penetration of 55.5%.

The market is overwhelmingly dominated by individual investors, who own 429 properties, constituting 87.4% of the investor-owned portfolio, compared to just 63 properties (12.8%) owned by companies.

A striking feature of this market is its financing structure; 100% of the 491 investor-owned properties are owned outright with cash, as there are zero recorded financed properties.

The investor portfolio is almost entirely dedicated to rentals, with 486 properties classified as non-owner-occupied, representing 99.0% of all investor holdings.

The landlord landscape mirrors the property ownership split, with 583 individual landlords making up the vast majority compared to just 55 company landlords operating in the county.

A complete absence of sales transactions in Q4 2025 for both landlords and traditional homeowners makes any direct price comparison impossible.

The lack of recent sales activity points to an extremely illiquid and stable housing market, where properties are rarely traded.

Historical data further reinforces this trend, with zero properties recorded as purchased by landlords between 2020 and 2023.

This sustained lack of transactional data suggests a market dominated by long-term buy-and-hold strategies rather than active buying and selling.

Consequently, it is not possible to analyze price trends, appreciation, or the typical discount landlords might achieve in more active markets.

The fourth quarter of 2025 saw a complete standstill in Gove County's real estate market, with zero Single-Family Residential properties purchased by any buyer type.

As a result, landlord acquisitions for the quarter stood at 0, accounting for 0.0% of all market activity.

This lack of activity means there were no new entrants into the landlord market, with zero single-property investors (Tier 01) making purchases.

Both mom-and-pop landlords (Tiers 01-04) and institutional investors (Tier 09) recorded zero purchases, reflecting the market-wide inactivity.

The data indicates a deeply static market where inventory is not turning over, preventing any new investment activity in the recent period.

The investor landscape in Gove County is the epitome of a mom-and-pop market, with landlords owning 1-10 properties controlling a combined 99.8% of all investor-held SFRs.

Single-property landlords (Tier 01) form the bedrock of this market, owning 402 properties, which represents a massive 79.8% share of the entire investor portfolio.

The next largest tiers are also small-scale, with two-property landlords holding an 11.3% share and those with 3-10 properties collectively owning the remaining 8.8%.

There is virtually no presence from larger investors; the medium-large tier (51-100 properties) holds just a single property (0.2%).

Institutional investors (Tier 09) are entirely absent from Gove County, underscoring its character as a market exclusively for small, local landlords.

Individual landlords are the definitive majority owners across every single investor tier in Gove County, with no crossover point where companies take control.

In the foundational single-property tier, individuals own 359 of the 402 properties, an 89.1% share, compared to 10.9% for companies.

This pattern of individual dominance continues up the scale; individuals own 84.2% of two-property portfolios and 82.6% of portfolios sized 3-5.

Even in the largest active tier in the county (6-10 properties), individuals own 16 of the 21 properties, a commanding 76.2% share.

While companies have a presence in all tiers, their share remains a distinct minority, peaking at just 23.8% in the 6-10 property tier, confirming the market is driven by personal holdings rather than corporate investment strategies.

Investor ownership is intensely concentrated in specific Gove County communities, with three zip codes showing landlord ownership rates above 70%.

The zip code 67738 leads with the highest penetration, where investors own 114 properties, representing 77.0% of the area's SFR housing stock.

Following closely are 67737, with a 73.0% investor ownership rate (111 properties), and 67736, with a 70.3% rate (52 properties).

The zip code with the highest absolute number of investor-owned homes, 67752 with 182 properties, has a comparatively lower but still very high ownership rate of 43.0%.

This data reveals hyper-local pockets where rental properties, rather than owner-occupied homes, form the vast majority of the residential landscape.

The complete lack of historical transaction data for Gove County landlords signals a market defined by long-term holds rather than active trading.

Without buy and sell records, it is impossible to determine if landlords are net buyers or sellers, or to calculate a buy/sell ratio.

This absence of data suggests that market churn is extremely low or nonexistent, with property owners holding onto their assets for extended periods.

Similarly, analysis of inter-landlord transactions is not possible, but the static nature of the market implies such activity is rare.

The data paints a picture of ultimate market stability, where the existing landlord base remains unchanged over time with few, if any, properties changing hands.

In Q4 2025, landlords were involved in zero transactions, as the total number of SFR transactions in Gove County was zero.

This resulted in landlords having a 0.0% share of all market transactions for the quarter.

The inactivity was universal across all investor sizes, with mom-and-pop landlords (Tiers 01-04) recording zero transactions.

Because there were no purchases, it's not possible to analyze buying patterns, such as the average purchase price by tier or the rate of inter-landlord trading.

The Q4 data confirms a completely frozen transaction market where no properties were bought or sold by investors or any other party.