Crawford (OH) Investor Pulse Report (2025-Q4)

Landlords in Crawford County, OH collectively own 2,689 Single Family Residential (SFR) properties, accounting for a significant 17.3% of the entire SFR market of 15,577 properties.

Individual investors overwhelmingly dominate the landlord landscape, holding 2,086 properties, which represents 77.6% of all investor-owned SFR. In contrast, company-owned properties total 659, comprising 24.5% of the market.

The prevalence of individual ownership extends to entities as well, with 2,202 individual landlords forming 85.8% of the total 2,566 landlord entities, creating a ratio of approximately 6 individual landlords for every company landlord.

A striking 95.9% of all landlord-owned properties are rented (2,580 properties), underscoring the strong rental-focused nature of the investor market in Crawford County.

Landlord portfolios are heavily financed by cash, with 2,119 properties (78.8%) acquired through cash transactions. Only 570 properties (21.2%) are financed, indicating a preference for debt-free or low-leverage acquisitions.

The high percentage of rented and cash-purchased properties reveals a conservative, long-term rental strategy adopted by the majority of landlords, particularly individual investors, who likely prioritize stable income and avoid market volatility.

In Q4 2025, landlords in Crawford County, OH continued to exhibit a keen ability to acquire properties below market value, paying an average of $165,877. This represents a substantial 16.2% discount compared to traditional homeowners, who paid an average of $198,003, resulting in a $32,126 price gap.

The magnitude of the landlord discount fluctuated significantly throughout 2025, indicating a dynamic market. The largest discount occurred in Q3, where landlords paid $128,703—a remarkable 36.7% less than homeowners who paid $203,427, representing a $74,724 savings per property.

While specific landlord acquisition counts for recent quarters are unrecorded in certain data segments, the consistent presence of average prices for landlord transactions suggests ongoing market participation and strategic buying behavior.

Quarter-over-quarter analysis reveals inconsistency in landlord average prices, moving from $140,199 in Q1 to $156,859 in Q2, dropping to $128,703 in Q3, and then rebounding to $165,877 in Q4. This volatility suggests varying market opportunities or shifts in property types acquired.

Comparing across years, the average landlord acquisition price for 2025 was $146,670, a notable increase from the $127,813 average in 2024 and the $94,781 average during the 2020-2023 pandemic boom era, signaling significant appreciation in property values for investors.

The sustained ability of landlords to secure properties at a discount relative to homeowners, despite price appreciation, highlights their advantage in identifying distressed properties, leveraging cash offers, or executing off-market deals.

Landlords in Crawford County demonstrated significant activity in Q4 2025, capturing 22.2% of all SFR purchases by acquiring 35 properties out of a total of 158 transactions.

The Q4 purchasing activity was overwhelmingly driven by mom-and-pop landlords (Tier 01-04), who accounted for 34 properties, representing 97.1% of all landlord acquisitions. This contrasts sharply with institutional investors (Tier 09), who made only 1 purchase (2.9%).

Single-property landlords (Tier 01) were the most active segment, securing 27 properties, which is 77.1% of all landlord purchases. This activity involved 38 distinct entities, suggesting a vibrant entry point for new or very small-scale investors.

The remaining mom-and-pop tiers also contributed, with two-property landlords (Tier 02) and small landlords (Tier 03-05) each acquiring 2 properties (5.7% respectively), and small landlords (Tier 06-10) adding 3 properties (8.6%).

The concentration of Q4 purchases in the lowest tiers underscores that the market's acquisition momentum is fueled by local, individual investors rather than large-scale corporate entities.

The ratio of entities to properties in Tier 01 (38 entities for 27 properties) indicates that while many individuals are entering the market, some may be making their initial purchase or exploring the market with partial investments.

The negligible institutional presence in Q4 purchases further solidifies the narrative of Crawford County's SFR market being largely inaccessible or unattractive to larger investment firms.

The distribution of investor-owned SFR properties in Crawford County is heavily concentrated among smaller landlords, with mom-and-pop investors (Tiers 01-04, 1-10 properties) controlling an overwhelming 89.1% of the market.

Single-property landlords (Tier 01) alone account for the largest share, owning 1,600 properties, which represents 57.2% of the entire investor-owned SFR portfolio, establishing them as the foundational segment of the rental market.

Small landlords in Tiers 03-05 contribute significantly, holding 466 properties (16.7%), followed by two-property landlords (Tier 02) with 241 properties (8.6%) and Tiers 06-10 with 184 properties (6.6%).

Mid-size landlords (Tiers 11-50) hold a smaller but notable share, with Tiers 11-20 owning 121 properties (4.3%) and Tiers 21-50 owning 152 properties (5.4%), indicating some level of portfolio scaling beyond the smallest tiers.

Large landlords (Tier 101-1000) possess a minimal 25 properties, representing just 0.9% of the market, while institutional investors (Tier 1000+) are nearly absent, holding only 9 properties (0.3%).

The stark contrast between mom-and-pop dominance and the negligible institutional presence directly refutes common narratives of corporate takeover in the SFR market, revealing a locally-driven, fragmented ownership structure in Crawford County.

Unfortunately, specific pricing data by tier for all-time ownership or recent quarters is not available in this dataset, preventing an analysis of whether larger or smaller investors pay different average prices for their portfolio holdings.

Individual investors exert substantial control over smaller portfolios in Crawford County, owning 1,416 single-property assets (Tier 01), which accounts for 86.8% of that tier's holdings, compared to companies at 13.2% (215 properties).

This individual dominance continues into slightly larger portfolios, with 75.9% of two-property holdings (183 properties) and 70.9% of 3-5 property holdings (338 properties) belonging to individuals.

A clear crossover point emerges at the small-medium tier (11-20 properties), where companies become the majority owners, holding 73 properties (60.3%) versus individuals with 48 properties (39.7%). This trend of corporate majority continues into the 21-50 property tier, where companies own 94 properties (61.8%).

Surprisingly, in the large landlord tier (101-1000 properties), individual investors once again take a substantial majority, owning 17 properties (68.0%), significantly outpacing company ownership at 8 properties (32.0%). This challenges the typical assumption of increasing corporate concentration with scale.

The data suggests a bifurcated market strategy where individual investors are strong at both the micro-scale (1-10 properties) and potentially at the upper end of locally-managed large portfolios, while companies find their niche in the 11-50 property range.

The absence of pricing data specifically split by individual vs company ownership within each tier limits deeper insights into their differing acquisition strategies or market advantages.

Within Crawford County, OH, investor-owned SFR properties are highly concentrated in specific zip codes, with OH-Crawford-44833 leading by volume with 1,007 properties. This represents 19.9% of the total SFR properties in that area.

Following closely, OH-Crawford-44820 registers 949 investor-owned properties, comprising 15.1% of its local SFR market, further highlighting a significant geographic concentration of investor activity.

OH-Crawford-44827 is also a key area, with 427 investor-owned properties and a 19.1% investor ownership rate, reinforcing the pattern of investor preference for certain localized sub-markets.

In terms of investor ownership rate, OH-Crawford-44856 stands out dramatically with 100.0% of its SFR properties being investor-owned, signaling a potentially niche or fully-invested micro-market.

Other zip codes exhibiting high investor penetration include OH-Crawford-44881 at 46.2% and OH-Crawford-44860 at 40.0%, indicating that smaller geographic areas can still represent highly attractive investment hubs.

The distinct difference between regions leading by sheer property count (e.g., 44833) and those leading by ownership percentage (e.g., 44856) suggests diversified investment strategies tailored to market size and density.

The absence of acquisition pricing data specific to these zip codes prevents an analysis of how investment values and strategies may differ across these concentrated areas within Crawford County.

Landlords in Crawford County consistently maintained a strong net buyer position throughout 2024 and 2025, indicating an active expansion of their SFR portfolios. In Q4 2025, they completed 46 buy transactions against 14 sell transactions, resulting in a net gain of 32 properties and a robust 3.29x buy/sell ratio.

This aggressive buying trend is observed across all recent periods: Q3 2025 saw 65 buys versus 7 sells (9.29x ratio), and Q2 2025 had 59 buys versus 21 sells (2.81x ratio), confirming sustained market participation.

For the entire year 2025, landlords accumulated 234 properties while selling 57, achieving a 4.11x buy/sell ratio and adding 177 properties to their holdings. This continues a strong trend from 2024, which saw 267 buys against 56 sells, resulting in a net gain of 211 properties.

In a striking contrast to overall landlord activity, institutional investors (1000+ tier) exhibited minimal and often negative net activity. They were net sellers in Q4 2025 (1 buy vs 2 sells) and for the full year 2024 (2 buys vs 4 sells).

While institutional investors showed a slight positive net position for the entirety of 2025 (5 buys vs 2 sells), their overall limited volume and tendency to divest in certain periods highlights a more cautious or divesting strategy compared to the broader landlord market.

The consistent net acquisition by the overall landlord population underscores a healthy demand for rental properties and confidence in the long-term prospects of the Crawford County SFR market.

Unfortunately, data on the percentage of landlord-to-landlord transactions and average buy/sell prices by timeframe was not provided in the excerpt, limiting deeper analysis into market liquidity and potential profit margins.

Landlords played a substantial role in Q4 2025, participating in 46 transactions, which represents 19.5% of the total 236 SFR transactions in Crawford County.

Transaction volumes were heavily skewed towards smaller investors, with single-property landlords (Tier 01) conducting 38 transactions, comprising the vast majority of landlord activity. The collective mom-and-pop segment (Tier 01-04) accounted for 45 out of the 46 landlord transactions.

A significant price disparity emerged across investor tiers: Tier 01 (single-property) buyers paid the highest average purchase price at $120,965. In stark contrast, the sole institutional investor (Tier 1000+) transaction occurred at a much lower average price of $23,800.

This pricing difference means institutional buyers secured properties for approximately $97,165 less than single-property landlords, representing a substantial 80.3% discount compared to Tier 01 average prices.

Inter-landlord trading activity varied by tier: 23.7% of Tier 01 transactions were sourced from other landlords. Interestingly, 50.0% of transactions for both Tier 02 and Tier 03-05 involved buying from other landlords, suggesting active internal market circulation among smaller investors.

Neither the Tier 06-10 nor the Institutional (Tier 1000+) segments reported any Q4 transactions originating from other landlords, implying different acquisition strategies or a lack of internal market supply for these larger portfolios.

The Q4 transaction data clearly reinforces the dominance of mom-and-pop investors in shaping the local SFR market, characterized by their high volume of activity and a willingness to pay higher average prices compared to the minimal, deeply discounted institutional acquisitions.