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

Clay County exhibits a notable concentration of investor-owned SFR properties, with landlords controlling 1,117 units, which constitutes 21.2% of the total SFR market of 5,263 properties.

Individual landlords overwhelmingly dominate the market, owning 1,000 SFR properties (89.5% of the total investor portfolio), significantly outpacing the 123 properties (11.0%) held by companies.

This individual-centric market structure is further emphasized by entity counts, showing 1,089 individual landlords compared to just 94 company landlords operating in the county.

A striking pattern in landlord acquisitions reveals that 1,031 properties (92.3% of investor-owned) were acquired via cash, demonstrating a strong preference for unencumbered assets.

The focus on rental income is clear, as 1,098 of the 1,117 investor-owned properties are rented, indicating that nearly all landlord holdings are non-owner-occupied and generating rental income.

Financed properties represent a small fraction of the portfolio, with only 86 units being financed, reinforcing the prevalence of cash purchases among Clay County investors.

The disparity in property ownership versus landlord entities (1,117 properties vs. 1,183 entities) suggests that many landlords in Clay County own only one property, particularly among individual investors.

Landlords in Clay County demonstrate a significant pricing advantage, acquiring properties in Q4 2025 for an average of $134,869 - a substantial $138,923 (50.7%) less than traditional homeowners who paid $273,792.

This trend of landlords paying less than homeowners is consistent throughout 2025, although the magnitude of the discount has fluctuated dramatically quarter-over-quarter.

The largest price advantage for landlords occurred in Q1 2025, where they paid $66,500, a remarkable 62.5% ($111,039) less than homeowners' average of $177,539.

The landlord discount narrowed considerably in Q3 2025 to 7.7%, with landlords paying $173,392 compared to homeowners' $187,828, a difference of $14,436, before widening again in Q4.

Despite periods of tighter margins, landlords consistently secure lower prices, highlighting their ability to find undervalued assets or negotiate favorable terms compared to the broader market.

The dramatic shifts in the discount percentage across 2025, from 62.5% in Q1 to 7.7% in Q3 and back to 50.7% in Q4, indicate a volatile market where timing and deal sourcing are crucial for investors.

No specific acquisition price data is available for Year 2024 landlord purchases in the provided table, making year-over-year pricing trends for landlords difficult to ascertain from this specific dataset.

Landlords were highly active in the Q4 2025 market in Clay County, securing 17 SFR properties, which represents a significant 37.8% of the total 45 SFR purchases made during the quarter.

The Q4 purchasing activity was overwhelmingly dominated by mom-and-pop landlords (Tiers 01-04), who collectively acquired 15 properties, constituting 83.3% of all landlord purchases for the quarter.

Single-property landlords (Tier 01) were the primary drivers of Q4 acquisition, with 14 entities adding 11 properties to their portfolios, highlighting robust entry-level investment.

No institutional investors (Tier 09, 1000+ properties) made any purchases in Clay County during Q4 2025, signaling a complete absence of large-scale corporate buying.

Smaller-medium landlords (Tiers 21-50) also showed some activity, acquiring 2 properties through 2 entities, representing 11.1% of landlord purchases.

The concentration of purchases in the smaller tiers reinforces the local, individual-investor driven nature of the Clay County SFR market, rather than being influenced by larger corporate players.

The data suggests a healthy influx of new and small-scale investors into the market, with 14 entities purchasing single properties, underscoring the accessibility of the market for smaller players.

The Clay County SFR investment market is overwhelmingly dominated by mom-and-pop landlords (Tiers 01-04), who collectively own 96.1% of all investor-held properties.

Single-property landlords (Tier 01) form the backbone of the market, controlling 877 properties, which accounts for a substantial 76.8% of the entire investor-owned SFR housing stock.

Mid-size landlords (Tiers 05-08) hold a minimal share of the market, with Tiers 11-20, 21-50, 51-100, and 101-1000 accounting for 0.4%, 3.0%, 0.4%, and 0.3% respectively.

There is a complete absence of institutional investors (Tier 09, 1000+ properties) in Clay County, with 0 properties owned by this segment, significantly contrasting with national market narratives.

The combined holdings of the two-property (6.7%), small (3-5 properties: 8.0%), and small (6-10 properties: 4.6%) tiers further solidify the local, individual-investor driven market structure.

The distribution highlights that large-scale corporate ownership is not a factor in Clay County, with almost all investor activity stemming from smaller, local entities.

Acquisition price data by tier for Clay County is not provided, preventing an analysis of whether larger investors pay more or less than smaller landlords in this specific market.

Individual investors maintain a strong majority across most tiers in Clay County, particularly in smaller portfolios like single-property (92.6% individual) and two-property (93.5% individual) segments.

A significant shift occurs at the small landlord Tier 06-10, where company ownership reaches parity, holding 50.0% of properties (26 properties) alongside individual investors (26 properties).

Beyond this parity point, individual ownership surprisingly reasserts its majority in the small-medium Tier 21-50, controlling 64.7% of properties (22 units) compared to companies' 35.3% (12 units).

This pattern indicates that while companies gain a foothold in mid-sized portfolios, they do not consistently become the majority owners at higher tiers, challenging the typical progression seen in larger markets.

The consistent presence of individual owners, even in larger portfolio tiers like 21-50, highlights a landscape where local, non-corporate entities still play a dominant role in accumulating multiple properties.

The high percentage of individual ownership in the smallest tiers (92.6% for Tier 01, 93.5% for Tier 02, 95.6% for Tier 03-05) firmly establishes the mom-and-pop foundation of the Clay County investment market.

Acquisition pricing data by owner type and tier is not available, preventing an analysis of potential price differences between individual and company buyers within these specific portfolio sizes.

Clay County displays distinct geographic concentrations of investor-owned properties, with MS-Clay-39741 holding the highest count at 67 properties, representing a 17.2% investor ownership rate.

MS-Clay-39756 stands out as the area with the highest investor penetration, where 26.9% of all SFR properties are investor-owned, also contributing significantly to overall county holdings with 43 properties.

The zip code MS-Clay-39755 exhibits both a high count of investor properties (44 units) and a strong ownership rate (21.3%), indicating a robust investor presence.

Other regions like MS-Clay-39776 (22.7%) and MS-Clay-39773 (21.5%) also demonstrate above-average investor ownership rates, signifying widespread landlord activity across various county sub-geographies.

While MS-Clay-39759 is listed among the top 5 by percentage, its specific property count and rate are currently unavailable, preventing a full comparison for this sub-geography.

The presence of high ownership rates in MS-Clay-39756 and high property counts in MS-Clay-39741 suggests different patterns of investor interest, potentially driven by market size or property availability within these specific zip codes.

Acquisition prices by geographic region are not provided in this dataset for Clay County, thus preventing an analysis of price variations across these distinct sub-geographies.

Clay County landlords have consistently acted as net buyers throughout recent periods, significantly accumulating properties with 25 purchases against only 6 sales in Q4 2025, resulting in a net gain of 19 properties.

This buying trend extends across the entire year, with landlords making 87 purchases versus 14 sales in Year 2025, yielding a substantial net acquisition of 73 properties.

The strong buyer sentiment was also evident in Year 2024, where landlords completed 61 purchases compared to 13 sales, adding 48 properties to their portfolios.

In contrast to overall landlord activity, institutional investors (1000+ tier) exhibited very limited and neutral transaction behavior, recording 1 buy and 1 sell in Year 2024 for a net position of 0.

The absence of specific data on the percentage of transactions between landlords prevents analysis of inter-landlord trading activity.

Average buy and sell prices for all landlords are not provided in the table, precluding an analysis of implied margins or price trends between buying and selling transactions.

The consistent net buying pattern across all landlord tiers indicates a strong demand for SFR properties from investors in Clay County, suggesting confidence in the local rental market.

Landlords played a significant role in the Q4 2025 housing market in Clay County, participating in 25 of the total 66 SFR transactions, representing a 37.9% market share.

Single-property landlords (Tier 01) were the most active segment, responsible for 14 transactions at an average purchase price of $141,646, underscoring their prominence in the market's current activity.

Inter-landlord trading appears limited across most tiers, with Tier 01 landlords sourcing only 2 of their 14 properties (14.3%) from other landlords in Q4.

Average purchase prices for Tiers 3-5, 6-10, and 11-20 are not available for Q4, preventing a comprehensive comparison of acquisition costs across all active investor tiers.

Institutional investors (Tier 09) registered 0 transactions in Q4, aligning with their complete absence in the ownership data and current purchasing activity.

Small-medium landlords in Tier 21-50 completed 2 transactions at an average price of $114,538, indicating activity in slightly larger portfolio sizes at competitive prices.

The high proportion of landlord transactions, particularly from mom-and-pop tiers, suggests a liquid and attractive market for individual investors in Clay County during Q4.