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

Landlords in Meigs County collectively own 1,417 SFR properties, constituting a significant 25.5% of the total 5,554 SFR properties in the market. This indicates a substantial presence of rental housing in the county.

Individual investors overwhelmingly dominate the landlord-owned portfolio, holding 1,286 properties, which accounts for 90.8% of all investor-owned SFR. In contrast, company-owned SFR properties represent a smaller share at 134 properties (9.5%).

The vast majority of landlord-owned properties, 1,398 out of 1,417, are non-owner-occupied and rented, signifying an extremely high rental-focused portfolio at 98.7%. This demonstrates landlords' primary objective is generating rental income rather than personal occupancy.

In terms of acquisition method for the investor-owned portfolio, 1,105 properties (78.0%) were cash purchases, highlighting a strong preference for unencumbered assets or significant capital deployment. The remaining 312 properties (22.0%) are financed, indicating a mix of investment strategies.

The distribution of landlord entities further reinforces individual dominance, with 1,578 individual landlords compared to just 89 company landlords. This represents 94.7% of all landlord entities being individuals, suggesting a robust 'mom-and-pop' market structure.

In Q4 2025, landlords in Meigs County demonstrated a remarkable pricing advantage, acquiring properties at an average of $87,833. This represents a substantial $94,825 discount, or 51.9% less than traditional homeowners who paid $182,658 for SFR properties.

The price gap between landlords and homeowners has shown considerable volatility throughout 2025. After securing a significant 47.3% discount in Q1 ($73,543 difference), landlords actually paid a 1.6% premium in Q2 ($2,079 difference), before reverting to a large discount in Q3 (41.7%) and Q4.

While landlord acquisition volumes for 2025 are listed as 0 in some data, the overall average landlord acquisition price for Year 2025 was $113,757. Comparing Q4 2025 average acquisition price ($87,833) to the 2020-2023 average ($97,165) reveals a 9.6% decline in landlord acquisition costs.

The inconsistent pricing strategy or market conditions suggest that while landlords often find significant discounts, there are periods where their acquisition costs can align with or even exceed those of traditional homeowners, as seen in Q2 2025.

The dramatic Q4 discount of $94,825 highlights a strong capability among landlords to identify and acquire properties at significantly lower price points compared to the broader market in recent periods, possibly indicating distressed sales or off-market deals.

Landlords in Meigs County accounted for a significant portion of Q4 2025 SFR purchase activity, acquiring 10 properties out of a total of 45, representing a 22.2% market share. This indicates a consistent investor appetite for residential properties.

The landlord purchase activity was overwhelmingly driven by smaller investors, with mom-and-pop landlords (Tiers 01-04) responsible for 90.0% of all landlord acquisitions, totaling 9 properties. This underscores the fragmented and local nature of the investor market in the county.

Specifically, single-property landlords (Tier 01) were the most active, purchasing 5 properties, which accounts for 50.0% of all landlord acquisitions. This tier also saw 8 new entities making purchases, indicating a steady influx of new individual investors into the market.

In stark contrast to the mom-and-pop activity, institutional investors (Tier 09, 1000+ properties) made no purchases in Q4 2025. This highlights a complete absence of large-scale corporate buying activity in Meigs County for the quarter.

The distribution of Q4 purchases shows Tier 02 contributing 4 properties (40.0% of landlord purchases) by 3 entities, and one medium-large landlord (Tier 51-100) acquiring 1 property (10.0%). This further emphasizes the dominance of smaller portfolio sizes in current market activity.

The landscape of investor-owned SFR properties in Meigs County is heavily tilted towards smaller portfolios, with mom-and-pop landlords (Tiers 01-04) controlling an overwhelming 96.5% of the market. This equates to nearly all investor-owned housing being held by local, smaller-scale entities.

Single-property landlords (Tier 01) are the most significant segment, owning 1,187 properties, representing an extraordinary 82.5% of all investor-owned SFR. This highlights the crucial role of first-time or single-property investors in shaping the county's rental market.

Conversely, institutional investors (Tier 09), those owning 1000+ properties, hold a minimal share of just 3 properties, accounting for a mere 0.2% of the investor-owned portfolio. This stark contrast challenges common narratives about widespread corporate landlord dominance in this specific geographic area.

The distribution beyond Tier 01 still shows concentration among smaller entities; for instance, Tier 02 holds 92 properties (6.4%) and Tiers 03-05 hold 99 properties (6.9%). Even within the mid-size categories, properties are few, with Tier 11-20 holding 15 properties (1.0%) and Tier 21-50 holding 26 properties (1.8%).

Data regarding acquisition prices by tier for all-time, Q4, or other timeframes was not available. Therefore, insights into price variations or trends across different investor sizes cannot be provided from the current dataset.

A clear shift in ownership type occurs as portfolio size increases in Meigs County. While individual investors dominate smaller portfolios, companies become the majority owners in the small landlord (6-10 properties) tier.

Specifically, in the Tier 06-10 category, companies own 6 properties (54.5%) compared to individuals who own 5 properties (45.5%). This marks a critical crossover point where corporate entities begin to outnumber individual owners in property holdings.

For smaller tiers, individual ownership is overwhelmingly dominant. In the single-property (Tier 01) segment, individuals hold 1,132 properties (95.1%), while companies own only 58 (4.9%). Similarly, for two-property (Tier 02) owners, individuals control 86 properties (93.5%) against companies' 6 properties (6.5%).

Even in the slightly larger small landlord (3-5 properties) tier, individuals maintain a strong majority with 71 properties (71.7%) compared to companies with 28 properties (28.3%), indicating their prevalence across most smaller portfolio sizes.

Information regarding the specific property counts for institutional investors (Tier 09) broken down by individual vs company ownership was not provided in this section. Additionally, data on how acquisition prices differ between individual and company buyers within each tier is unavailable, preventing insights into varied pricing strategies.

Investor activity in Meigs County shows distinct geographic concentrations at the zip code level. The 45769 zip code leads the county with the highest number of investor-owned properties, totaling 406, which accounts for 25.2% of its SFR market.

Following closely in investor property counts are zip codes 45760 with 226 properties (22.9% ownership rate) and 45771 with 216 properties (26.0% ownership rate). These areas represent the primary hubs for landlord property holdings within the county.

While some zip codes lead in sheer property counts, others exhibit higher investor ownership rates. Zip code 45783 stands out with an impressive 59.5% of its SFR properties being investor-owned, indicating a very high density of rental housing.

Other zip codes with high investor penetration rates include 45720 at 54.5% and 45779 at 45.4%. This highlights specific sub-markets where investors hold a dominant share of the housing stock, catering to a potentially larger rental demand.

Notably, zip code 45779 features prominently in both top lists, ranking 4th by property count (129 properties) and 3rd by ownership percentage (45.4%). This signals a highly active and sought-after area for investors, balancing both volume and market penetration.

Landlords in Meigs County consistently demonstrate a strong net buyer position, actively expanding their portfolios across recent timeframes. In Q4 2025, they purchased 16 SFR properties while selling only 2, resulting in a robust 8.0x buy-to-sell ratio.

This trend of accumulation is sustained throughout the entire Year 2025, with landlords buying 68 properties and selling 10, achieving a buy-to-sell ratio of 6.8x. This signals a strategic focus on growth and long-term investment in the county's housing market.

Looking back, Year 2024 also exhibited significant landlord buying activity, with 77 purchases against 8 sales, yielding an even higher buy-to-sell ratio of 9.63x. This historical pattern confirms that landlords have been in a consistent acquisition phase over the past two years.

The consistent high buy-to-sell ratios indicate strong confidence among landlords in the Meigs County market, as they are actively absorbing properties rather than divesting. This sustained accumulation suggests a healthy demand for rental properties or attractive investment opportunities.

Despite the overall landlord activity, specific transaction data for institutional investors (1000+ properties) was not provided, precluding an analysis of their net position or how their behavior compares to the broader landlord market. Additionally, information regarding the percentage of landlord-to-landlord transactions or average buy/sell prices was unavailable from the provided dataset.

Landlords in Meigs County played a substantial role in the Q4 2025 transaction market, participating in 16 of the total 68 SFR transactions, representing a 23.5% share. This indicates their ongoing influence on market liquidity and property turnover.

Mirroring ownership and purchase trends, mom-and-pop landlords (Tiers 01-04) were the primary drivers of this activity, undertaking 15 of the 16 landlord transactions. This reinforces their position as the most active investor segment in the county.

A notable pattern emerges in average purchase prices by tier for Q4 2025. Tier 02 landlords paid the highest average price at $138,000, significantly more than Tier 01 landlords who acquired properties at an average of $36,834. A medium-large landlord (Tier 51-100) acquired their single property at $60,000.

Inter-landlord trading activity varied significantly by tier. While single-property and two-property landlords (Tiers 01 and 02) bought 0.0% of their Q4 properties from other landlords, the sole medium-large landlord (Tier 51-100) acquired their property entirely from another landlord (100.0%).

Institutional investors (Tier 09) registered no transactions in Q4 2025, confirming their absence from both buying and selling activity in Meigs County for the quarter. This further emphasizes the market's reliance on smaller, local investors.