Carroll (MS) Investor Pulse Report (2025-Q4)

Investor ownership in Carroll County, MS, comprises 392 Single-Family Residential properties, accounting for 17.8% of the total 2,206 SFRs in the market.

The market is overwhelmingly dominated by individual investors, who own 382 properties (97.4%), compared to just 18 properties (4.6%) owned by companies. This highlights a classic 'mom-and-pop' landlord landscape.

Financing is virtually non-existent among local investors, with 391 of the 392 properties (99.7%) having been acquired with cash. Only a single property in the entire investor portfolio is financed.

A strong rental focus is evident, as 385 of the 392 properties are rented. This shows that the primary strategy for investors in this area is long-term rental income rather than short-term flipping.

The entity count further reinforces individual dominance, with 455 individual landlords compared to just 20 company landlords. This high number of entities relative to properties suggests co-ownership is common among individuals.

There was no recorded purchase activity for landlords in Carroll County, MS, during Q4 2025, Q3 2025, or the 2020-2023 period.

As a result of the zero-transaction environment, average acquisition prices for landlords could not be calculated for any recent timeframe.

Consequently, a price comparison between landlords and traditional homeowners is not possible for Q4 2025 or preceding quarters.

The absence of transaction data precludes any analysis of price appreciation or depreciation trends in the investor market.

This lack of pricing data indicates a highly stable or illiquid market where properties are held long-term with very infrequent turnover.

The investor market in Carroll County was completely dormant in Q4 2025, with landlords acquiring zero of the zero total SFR properties purchased in the county.

Activity was nonexistent across all investor sizes. Mom-and-pop landlords (1-10 properties) recorded zero purchases, accounting for 0.0% of investor activity.

Similarly, institutional investors (1,000+ properties) were not active in this market, also recording zero purchases for the quarter.

The lack of Tier 01 (single-property) purchases indicates that no new landlords entered the Carroll County market during Q4 2025.

This complete standstill in acquisitions suggests investors are in a holding pattern, with no market appetite for expansion in the final quarter of the year.

The ownership structure in Carroll County is defined by hyper-local, small-scale investors. Mom-and-pop landlords, owning between 1 and 10 properties, collectively hold 99.7% of all investor-owned SFRs.

Single-property landlords are the bedrock of the market, with 371 properties representing 93.7% of all investor holdings. This demonstrates that the typical investor is a local individual with a single rental property.

There is a complete absence of large-scale ownership. Institutional investors in Tier 09 (1,000+ properties) own zero properties, signifying the market is not on the radar of major corporate landlords.

Mid-size landlords are also exceedingly rare, with only one property (0.3% of the portfolio) held by an investor in the 11-20 property tier.

Due to the lack of recent transaction activity, it is not possible to analyze how acquisition prices vary by tier or if buying patterns have shifted over time.

Individual ownership is the defining characteristic across all investor sizes in Carroll County. Individuals own 382 of the 392 investor properties, a 97.4% share.

Unlike larger markets, there is no tier at which companies become the majority owners. Individuals maintain 100% ownership in the 2-property, 3-5 property, and 11-20 property tiers.

Company ownership is minimal and concentrated at the smallest scale. Companies own only 18 properties in total, 17 of which are in the single-property tier, suggesting small, incorporated local businesses rather than large real estate firms.

In the largest tier where companies have a presence (6-10 properties), they still represent a minority, owning just 1 property (25.0%) compared to 3 owned by individuals.

The data clearly shows that company investment is negligible, and the market's structure is built entirely around individual, non-corporate landlords.

Geographic concentration is a key feature of the Carroll County investor market. The top five zip codes by property count hold 327 of the 392 investor-owned properties, representing 83.4% of the total portfolio.

The zip code 38917 is the epicenter of investor ownership by volume, containing 151 landlord-owned properties, which constitutes 19.3% of that area's SFR housing stock.

A stark contrast exists between the areas with the highest count and the highest rate of investor ownership. Zip code 38947 has an extremely high investor penetration rate of 87.9%, despite having a smaller portfolio of 29 properties, indicating a niche rental-dominated submarket.

In contrast, areas like 38930 show much lower investor penetration, with an ownership rate of only 8.6%, suggesting a market dominated by traditional homeowners.

The second and third highest concentrations by volume are found in 39176 (84 properties, 27.6% rate) and 38923 (34 properties, 12.9% rate), further illustrating the localized nature of rental property investment in the county.

Historical transaction data for landlords in Carroll County is not available, which prevents a longitudinal analysis of buying and selling behavior.

It is not possible to determine whether landlords have been net buyers or net sellers over time, as buy/sell counts for past quarters and years are absent.

Analysis of market liquidity, such as the percentage of transactions occurring between landlords, cannot be performed due to the lack of data.

Similarly, institutional investor transaction patterns cannot be assessed, though their zero-property ownership implies a historical lack of activity.

The absence of this data reinforces the idea of a buy-and-hold market, where properties change hands so infrequently that trend analysis is not feasible.

The transaction market in Carroll County was entirely inactive for investors in Q4 2025. Landlords participated in zero of the zero total SFR transactions recorded.

This lack of activity was universal across all investor sizes. Mom-and-pop landlords (Tiers 01-04) and any mid-size landlords reported zero transactions.

Given the complete absence of purchases, there was no inter-landlord trading activity. The percentage of properties bought from other landlords was 0.0%.

Average purchase prices by tier could not be calculated, as no properties were acquired during the quarter.

The Q4 data points to a completely static investment environment, where existing landlords are holding their portfolios and no new capital is being deployed to acquire additional properties.