Garfield (OK) Investor Pulse Report (2025-Q4)

Landlords in Garfield County, OK, collectively own 5,926 Single Family Residential (SFR) properties, representing a substantial 27.2% of the total SFR market in the county. This demonstrates a significant investor presence within the local housing landscape.

Individual landlords are the dominant force, controlling 4,013 properties (67.7% of investor-owned SFR), while companies own 2,006 properties (33.9%). This indicates that the market is predominantly shaped by smaller, individual investors rather than large corporate entities.

The investor landlord base comprises 4,941 distinct entities, with individual landlords making up the vast majority at 4,187, compared to 754 company landlords. This highlights the prevalence of mom-and-pop operations in the rental market structure.

A striking 95.5% of landlord-owned properties (5,660 out of 5,926) are rented, underscoring the strong rental-focused strategy of investors in Garfield County. This concentration on rental income generation signifies a robust operational model.

Cash purchases represent the overwhelming majority of landlord holdings, with 4,884 properties owned outright compared to only 1,042 properties that are financed. This preference for cash transactions suggests either strong capital reserves or a strategic move to minimize debt.

The portfolio composition reveals a strong focus on rental income and cash holdings, contrasting with the relatively lower proportion of financed properties. This cash-rich, rental-centric approach reflects a low-leverage, long-term investment strategy among Garfield County landlords.

In Q4 2025, landlords in Garfield County, OK, demonstrated significant buying power, acquiring properties at an average price of $91,977. This represents a substantial $94,691 discount, or 50.7% less, than the $186,668 average paid by traditional homeowners.

The landlord acquisition price discount against homeowners fluctuated notably throughout 2025. While Q4 saw a 50.7% discount, Q3 recorded a 53.9% discount ($92,232 vs $199,906), and Q1 showed a 44.3% discount ($96,502 vs $173,322).

The most pronounced price gap occurred in Q2 2025, where landlords paid $60,221, an impressive 73.3% less than homeowners who paid $225,320. This indicates periods of exceptional opportunity for investor acquisitions.

Despite no acquisition activity by landlords in Garfield County during Q4 2024 or Q4 2025 directly, the provided price comparisons for 'Landlord vs Homeowner Price Comparison' illustrate consistent lower prices for landlords when they are active in the market, highlighting a clear pricing advantage.

Comparing the average acquisition price for Year 2025 at $85,900 to Year 2024 at $82,962, landlords experienced a slight price increase of $2,938 (3.5%) year-over-year. This suggests a modest appreciation in investor-acquired properties.

The average landlord acquisition price for 2020-2023 was $107,205, indicating a notable decrease in average prices in both 2024 ($82,962) and 2025 ($85,900). This trend signals a cooling of acquisition prices post-pandemic boom, offering more favorable entry points for investors.

While no explicit breakdown for individual versus company landlord pricing is present in the section 6 data, the consistent deep discounts across various quarters for 'Landlord' as a collective suggests a uniform strategic advantage in property acquisition across investor types in this county.

In Q4 2025, landlords were a significant force in the Garfield County housing market, responsible for 57 of the 219 total SFR purchases, equating to a 26.0% market share. This indicates active investor engagement in the current quarter.

Mom-and-pop landlords, encompassing Tiers 01-04 (1-10 properties), collectively accounted for the overwhelming majority of landlord purchases at 48 properties, representing 78.7% of all landlord acquisitions in Q4 2025. This underscores their primary role in market activity.

Single-property landlords (Tier 01) were particularly active, purchasing 23 properties and representing 37.7% of all landlord acquisitions. This tier also saw the highest number of active entities, with 32 individuals or companies entering the market.

In stark contrast to mom-and-pop activity, institutional investors (Tier 09, 1000+ properties) made a minimal impact, acquiring only 1 property (1.6%) in Q4 2025. This shows a limited large-scale institutional presence in recent buying activity.

The average properties per entity in Q4 2025 was highest in the Small landlord (6-10 properties) tier, with 17 properties acquired by 11 entities (1.55 properties per entity), and Small-medium (21-50) tier, with 5 properties by 2 entities (2.5 properties per entity). This suggests concentrated buying activity within these mid-size tiers.

The Tier 06-10 (Small landlord) also demonstrated notable activity, with 11 entities purchasing 17 properties, making it the second most active tier by property count after single-property landlords. This indicates a strong pipeline of growth for existing mid-size investors.

Overall, Q4 2025 purchase activity in Garfield County reveals a market predominantly driven by smaller, individual investors, with mom-and-pop landlords fueling the majority of acquisitions and institutional players showing minimal new buying.

Mom-and-pop landlords, defined as owning 1-10 properties (Tiers 01-04), collectively control a significant 84.1% of all investor-owned SFR properties in Garfield County, OK. This equates to 5,188 properties and firmly establishes them as the primary owners in the market.

The largest segment within investor ownership is single-property landlords (Tier 01), who alone account for 3,208 properties, representing 52.0% of the total investor-owned portfolio. This highlights the crucial role of first-time or small-scale investors.

Institutional investors (Tier 09), owning 1000+ properties, hold a negligible share of the market, with only 14 properties representing just 0.2% of all investor-owned SFR. This counters common narratives about widespread corporate landlord dominance in this specific county.

Mid-size landlords (Tiers 05-08, 11-1000 properties) collectively own 980 properties, making up 15.9% of the market. This segment represents a smaller but still significant portion, demonstrating a diverse range of portfolio sizes beyond the mom-and-pop tier.

While no specific tier pricing data was provided for All Time, Q4, 2024, or 2020-2023 in the dataset, the distribution of ownership clearly points to a market structure where smaller investors are the overwhelming majority, regardless of historical pricing strategies.

The high concentration in Tier 01, coupled with the minimal presence of Tier 09, indicates a highly fragmented landlord market where individual initiatives drive the bulk of property investment and management rather than centralized corporate strategies.

The cumulative effect of Tiers 01-04 commanding 84.1% of the market solidifies the mom-and-pop segment as not just the most numerous in terms of entities but also the most substantial in terms of actual property holdings, underlining their foundational role in the local rental housing supply.

A critical shift in ownership type occurs at the 6-10 property tier (Small landlord), where companies become the majority owners, holding 59.7% of properties compared to individuals at 40.3%. This marks the crossover point from predominantly individual to corporate control.

Individual investors overwhelmingly dominate the smaller portfolio segments, owning 2,789 properties (86.4%) in the single-property (Tier 01) category and 333 properties (71.9%) in the two-property (Tier 02) category. This reinforces the mom-and-pop presence in the entry-level market.

As portfolio sizes increase, company ownership rapidly escalates; in the 21-50 property tier, companies own 89.4% (388 properties), and in the 51-100 property tier, they control a commanding 96.2% (25 properties), with individuals holding a marginal 3.8% (1 property).

Conversely, in portfolios between 3 and 5 properties, individuals still hold a strong majority at 70.4% (650 properties), illustrating that individual investors successfully scale up to a certain point before corporate entities begin to dominate.

While the exact breakdown for institutional (1000+ property) ownership by individual vs. company is not explicitly provided, the clear trend of increasing company dominance with portfolio size strongly suggests that the 14 properties in the 1000+ tier are predominantly, if not entirely, company-owned.

Without specific pricing data by owner type within tiers in the provided section, a direct comparison of individual versus company acquisition prices cannot be made. However, the ownership distribution clearly differentiates their market focus based on portfolio size.

The data strongly indicates that individual investors are foundational to the smaller, entry-level rental market, while companies strategically concentrate on and eventually dominate the larger, more extensive property portfolios in Garfield County, OK.

In Garfield County, OK, zip code 73701 stands out as the primary hub for investor activity, boasting 3,174 landlord-owned SFR properties. This represents the highest concentration of investor properties within the county.

Following closely, zip code 73703 is another significant area for investors, with 2,128 landlord-owned properties. Together, 73701 and 73703 account for a substantial portion of the investor-owned housing stock in the county.

While 73701 has the highest count of investor properties, 73718 exhibits the highest investor ownership rate, with 50.0% of its SFR properties owned by landlords. This indicates a highly penetrated market in that specific zip code.

Zip code 73738 also shows a high investor ownership rate at 44.2% (171 properties), followed by 73730 at 37.2% (80 properties). These rates highlight specific micro-markets where investors hold a significant portion of the housing stock.

There's a clear distinction between regions with high property counts and those with high ownership percentages; for instance, 73701 and 73703 lead in absolute numbers, while 73718 and 73738 show higher investor density relative to their total SFR inventory.

Acquisition prices are not provided for the individual sub-geographies in this section, precluding an analysis of price variations across these regions. However, the data clearly maps out where investors have chosen to concentrate their holdings and market presence within Garfield County.

The geographic distribution reveals that investor activity is not uniformly spread, but rather concentrated in key zip codes like 73701 and 73703 for sheer volume, and in 73718 and 73738 for high market penetration rates, signaling targeted investment strategies.

All landlords in Garfield County, OK, were net buyers in 2025, completing 226 buy transactions compared to 132 sell transactions, resulting in a buy/sell ratio of 1.71x. This indicates a sustained period of portfolio expansion.

Analyzing quarterly trends for 2025, landlords consistently remained net buyers. In Q4, there were 87 buys versus 30 sells (net 57 properties), in Q3, 47 buys versus 44 sells (net 3 properties), and in Q2, 60 buys versus 32 sells (net 28 properties), reflecting continued accumulation.

Institutional investors (1000+ tier) demonstrated a net buyer position in 2025, with 2 buy transactions versus 1 sell transaction. This contrasts with their neutral transaction balance in 2024, where they executed 4 buys and 4 sells.

Overall landlord buy activity experienced a decrease from 290 transactions in 2024 to 226 in 2025, signaling a 22.1% reduction in acquisitions. Similarly, sell transactions also saw a minor dip from 138 in 2024 to 132 in 2025.

Institutional buy transactions halved from 4 in 2024 to 2 in 2025, and sell transactions decreased from 4 to 1 over the same period. This suggests that while still net buyers in 2025, their overall transaction volume has significantly reduced.

Given the provided data for section 11 does not include average buy/sell prices or percentages of landlord-to-landlord transactions, a detailed analysis of implied margins or internal market liquidity cannot be made from this specific section.

The consistent net buyer status for landlords in Garfield County, OK, both overall and for institutional players in 2025, signals a market where investors are actively adding to their portfolios, albeit at a slightly slower pace than the previous year.

In Q4 2025, landlords actively engaged in 87 transactions, accounting for 25.8% of the total 337 SFR transactions in Garfield County, OK. This signifies a considerable portion of market activity driven by investors.

Single-property landlords (Tier 01) were the most active, conducting 32 transactions at an average purchase price of $76,614. This highlights their high volume of entry-level activity within the market.

Institutional investors (Tier 09) transacted only once in Q4, but did so at a notably higher average price of $106,482. This represents a 39.0% premium over the average price paid by single-property landlords, suggesting they target different segments or higher-value assets.

The Small landlord (Tier 06-10) group was also highly active, with 30 transactions, paying an average of $79,981. This tier also exhibited the highest percentage of inter-landlord trading, with 33.3% (10 out of 30) of their purchases originating from other landlords.

Conversely, larger investor tiers such as Small-medium (11-20, 21-50), Medium-large (51-100), and Institutional (1000+) showed no transactions originating from other landlords in Q4 2025. This suggests that inter-landlord trading is more prevalent among smaller and mid-size landlords.

The average purchase price for a Medium-large landlord (Tier 51-100) was $20,100, and for a Large landlord (Tier 101-1000) was $216,812. This wide spread in prices by tier, from $19,750 (Tier 3-5) to $216,812 (Tier 101-1000), indicates diverse investment strategies and property values targeted across different investor sizes.

The transaction data for Q4 2025 underscores a fragmented market where mom-and-pop landlords drive volume, institutional investors target higher price points with less frequent activity, and inter-landlord trading facilitates liquidity primarily within the smaller landlord segments.