Plymouth (MA) Investor Pulse Report (2025-Q4)

In Plymouth County, landlords hold a significant 13.5% share of the single-family residential market, owning a total of 19,492 properties.

The investor landscape is overwhelmingly characterized by individual ownership, with individuals owning or co-owning 17,168 properties, representing 88.1% of the investor-held housing stock. Companies, in contrast, own or co-own 3,918 properties (20.1%).

The entity count further underscores the dominance of small-scale investors, with 24,625 individual landlords compared to just 3,707 company landlords.

A strong preference for all-cash ownership is evident, as 12,009 properties (61.6%) are owned outright without financing, compared to 7,483 that are financed. This suggests a well-capitalized investor base.

The portfolio is almost entirely dedicated to rentals, with 19,302 properties (99.0%) classified as non-owner-occupied, confirming the primary business focus of these property owners.

Investors in Plymouth County consistently acquire properties at a lower cost than traditional homeowners. In Q4 2025, landlords paid an average of $707,421, which is a 10.2% discount compared to the homeowner average of $787,570, saving $80,149 per home.

While the discount remains substantial, it has tightened throughout the year. The 10.2% Q4 discount is the narrowest of 2025, down from a peak of 14.7% ($111,974) in Q1, indicating a more competitive purchasing environment.

The market has seen significant price appreciation since the post-pandemic period. The Q4 2025 average landlord price of $707,421 is 15.8% higher than the average price of $610,681 paid between 2020 and 2023.

This sustained ability to purchase below market rate, even in an appreciating market, points to investors' strategic advantages, such as cash offers, faster closing times, or a focus on properties requiring renovation.

Landlords captured a substantial portion of market activity in Q4, purchasing 244 of the 1,272 single-family homes sold, which translates to a 19.2% market share.

The entirety of this purchasing activity came from mom-and-pop landlords (1-10 properties), who acquired 100% of the 244 properties. Institutional investors (1,000+ properties) were completely absent from the market, making zero purchases.

A significant influx of new investors occurred this quarter, with 301 new single-property entities entering the Plymouth County market. These first-time landlords were the most active group, buying 204 properties, or 82.3% of all investor acquisitions.

This data reveals that the growth in investor-owned housing is being driven exclusively by small-scale, local buyers, rather than large corporations.

The concentration of buying power in the smallest tier highlights a highly fragmented and decentralized investor market, with new entrants continually fueling demand.

The investor market in Plymouth County is unequivocally dominated by small landlords. Those owning 1-10 properties (Tiers 01-04) control 99.7% of the entire investor-owned SFR housing stock.

Ownership is heavily concentrated at the smallest scale, as single-property landlords (Tier 01) alone own 18,162 homes, which constitutes 91.2% of all investor-owned properties.

Mid-size landlords (11-1,000 properties) represent a tiny fraction of the market, collectively owning less than 0.4% of the portfolio.

The narrative of large, corporate landlords is unsupported by the data in this county. Institutional investors (Tier 09) have a near-zero footprint, with a portfolio consisting of only one property.

This distribution underscores a market structure built on thousands of individual investors rather than a handful of large players, shaping local housing dynamics and landlord-tenant relationships.

Ownership structure shifts decisively from individual to corporate as portfolio sizes increase. While individuals dominate smaller tiers, companies become the majority owners starting at the 6-10 property tier.

In the entry-level single-property tier, individuals are the overwhelming majority, owning 16,266 properties (83.4%) compared to 3,244 owned by companies.

The clear crossover point occurs in the 6-10 property portfolio size. In this tier, company ownership surges to 86.2%, indicating that investors tend to incorporate as their operations scale beyond a handful of properties.

This trend intensifies in larger tiers. For portfolios of 21-50 properties, companies own 13 of the 14 properties, a 92.9% share.

The data suggests a natural lifecycle for real estate investors: starting as individuals and formalizing into corporate entities for liability and operational efficiency as their holdings grow.

Investor ownership in Plymouth County is not evenly distributed but is instead highly concentrated in specific zip codes. The top five areas by property count hold 9,627 properties, representing 49.4% of the entire investor-owned portfolio in the county.

The zip code 02360 in Plymouth is the epicenter of investor activity, with 3,333 investor-owned properties, far surpassing any other area.

High investor ownership rates are notable in several communities. Wareham (02571) has a 37.5% investor ownership rate across 2,009 properties, while Marion (02739) has a 34.0% rate with 1,058 properties, indicating significant rental market presence in these areas.

The data also reveals several smaller zip codes with 100% investor ownership, such as 02059 and 02303. These are likely outliers representing specific housing developments or data anomalies rather than widespread market takeovers.

This geographic concentration suggests that investors are targeting specific neighborhoods, likely driven by factors such as strong rental demand, attractive property values, or local economic conditions.

Investors in Plymouth County are in a strong accumulation phase, consistently buying far more properties than they sell. In Q4 2025, landlords purchased 352 properties while only selling 50, a net gain of 302 properties for the rental market.

The buy-to-sell ratio reached an impressive 7.04 in Q4, meaning more than seven properties were acquired for every one sold. This demonstrates strong confidence in the local market.

This aggressive buying posture has intensified over time. The 2025 year-to-date buy/sell ratio of 5.78 (1,492 buys vs. 258 sells) is an increase over the 2024 ratio of 5.54 (1,401 buys vs. 253 sells).

The consistent net-positive acquisition trend indicates a growing investor footprint in the county, expanding the overall stock of single-family rental housing.

Data for institutional-level transactions was unavailable, aligning with their near-zero ownership and activity in the county's market.

In Q4, landlords participated in 16.8% of all SFR transactions in Plymouth County, with a total of 352 acquisitions. This activity was almost entirely driven by mom-and-pop investors, who accounted for 345 of these transactions.

A distinct inverse relationship exists between portfolio size and purchase price. New single-property landlords paid the most, averaging $698,005 per home. In contrast, landlords in the 6-10 property tier paid significantly less at $423,121.

This price difference suggests differing acquisition strategies: new entrants likely compete on the open market, while more experienced investors may target off-market deals or distressed properties.

Larger investors are more likely to purchase from other landlords. While only 2.7% of purchases by single-property landlords came from other investors, this figure jumped to 20.0% for the 3-5 tier and 42.9% for the 11-20 tier.

This indicates the development of an internal market where established investors trade properties among themselves, potentially providing more liquidity and specialized deal flow outside of the traditional consumer market.