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

Landlords control 1,175 single-family residential properties in Murray County, Oklahoma, which represents a substantial 28.1% of the total 4,185 SFR properties in the market.

Individual investors overwhelmingly dominate the ownership landscape, holding 933 properties (79.4%) of the landlord-owned SFR portfolio, significantly outweighing company-owned properties at 249 (21.2%).

The prevalence of individual ownership extends to entity counts, where 1,181 individual landlords operate compared to just 144 company landlords, establishing an 8.2:1 ratio highlighting the market's mom-and-pop character.

Nearly all landlord-owned properties, 1,144 out of 1,175 (97.4%), are designated as rented, confirming that the vast majority of investor holdings serve as income-generating rentals.

Cash acquisitions are a dominant strategy among landlords, with 944 properties (80.3%) acquired using cash, indicating a preference for unfinanced purchases, while only 231 properties (19.7%) are financed.

In Q4 2025, landlords demonstrated superior acquisition prowess, purchasing SFR properties at an average price of $164,507, which is a substantial $70,118 (29.9%) less than the $234,625 paid by traditional homeowners.

Landlord pricing strategies proved highly dynamic throughout 2025, with acquisitions initially showing premiums of 21.3% ($41,967) in Q1 and 6.4% ($14,355) in Q2, before shifting dramatically to deep discounts of 36.3% ($101,038) in Q3 and 29.9% ($70,118) in Q4.

The market experienced significant price appreciation for landlords over recent years, with average acquisition prices increasing by 16.9% from $140,736 during the 2020-2023 period to $164,507 in Q4 2025, indicating growing asset values.

Quarter-over-quarter, the landlord discount narrowed from 36.3% in Q3 2025 to 29.9% in Q4 2025, suggesting a slight convergence in pricing despite landlords maintaining a significant advantage.

The average acquisition price for landlords across the entire year 2025 stood at $199,950, reflecting a 25.6% increase compared to the average of $159,179 in the prior year, 2024.

Landlords were a significant force in the Q4 2025 market in Murray County, purchasing 12 SFR properties, which accounted for 26.7% of the total 45 SFR purchases made during the quarter.

Mom-and-pop landlords (Tier 01-04) overwhelmingly drove investor activity, making 13 purchases that represented 92.9% of all landlord acquisitions in Q4, solidifying their role as primary market participants.

The single-property landlord tier (Tier 01) was the most active segment, with 11 entities acquiring 7 properties, demonstrating a strong entry point for new or expanding small-scale investors.

Institutional investors (Tier 09, 1000+ properties) were completely absent from Q4 purchase activity in Murray County, recording 0 properties acquired and 0% of landlord purchases.

Beyond the single-property tier, two-property landlords (Tier 02) contributed 4 purchases (28.6%), and small landlords (Tier 03-05) added 2 properties (14.3%), showcasing broad participation across smaller portfolio sizes.

Mom-and-pop landlords (Tiers 01-04, 1-10 properties) overwhelmingly control the investor-owned housing supply in Murray County, commanding 93.1% of all SFR properties held by investors.

The market structure is heavily skewed towards smaller investors, with single-property landlords (Tier 01) owning a dominant 65.0% (795 properties) of the entire investor-owned SFR portfolio.

Medium-size landlords (Tiers 05-08, 11-1000 properties) hold a significantly smaller share of the market at 6.9%, comprising 47 properties (3.8%) in Tier 11-20, 33 properties (2.7%) in Tier 21-50, 1 property (0.1%) in Tier 51-100, and 4 properties (0.3%) in Tier 101-1000.

Institutional investors (Tier 09, 1000+ properties) maintain no footprint in Murray County, owning 0 properties and representing 0.0% of the investor-owned SFR market.

The distribution reveals a foundational reliance on local and smaller investors, with Tier 01, Tier 02 (9.2%), and Tier 03-05 (12.8%) collectively accounting for 87.0% of all investor-owned properties.

Individual investors overwhelmingly dominate the smallest portfolio segments, owning 721 properties (90.0%) in the single-property tier, underscoring the strong presence of individual landlords at the entry level of the market.

A clear crossover point occurs at the 6-10 property tier, where company ownership surpasses individuals, holding 44 properties (59.5%) compared to individuals' 30 properties (40.5%).

Company presence becomes nearly absolute in larger portfolios, with companies owning 32 properties (97.0%) in the 21-50 property tier, while individuals hold a mere 1 property (3.0%).

Even in mid-sized portfolios like the 11-20 property tier, company ownership edges out individuals, controlling 24 properties (51.1%) compared to individuals' 23 properties (48.9%).

Conversely, individual investors maintain a strong majority in the 2-property (78.8%) and 3-5 property (71.3%) tiers, solidifying their foundational role in small-to-mid-sized landlord operations.

Investor-owned properties in Murray County are heavily concentrated within two key zip codes: 73086 and 73030. Together, these areas account for 1,155 properties, representing an overwhelming 98.3% of all investor-owned SFR properties in the county.

OK-Murray-73086 emerges as the dominant sub-geography for investor activity by count, with 821 landlord-owned properties, signifying a substantial 29.2% investor ownership rate within that zip code.

While 73086 leads by sheer volume, OK-Murray-73444 records the highest investor ownership rate at 33.3%, indicating a significant proportion of its limited SFR housing stock is investor-owned.

OK-Murray-73030 is another major hub for investors, with 334 properties, achieving an investor ownership rate of 26.9%, reinforcing the concentrated nature of investment within these primary areas.

The top five sub-geographies by investor count, including 73086, 73030, 73098 (10 properties), 73032 (4 properties), and 74865 (4 properties), clearly delineate the localized focus of real estate investment within Murray County.

Landlords in Murray County have consistently maintained a strong net buyer position, culminating in Q4 2025 with 20 buy transactions compared to only 3 sell transactions, resulting in a robust 6.67x buy-to-sell ratio.

The overall trend for 2025 underscores this acquisitive behavior, as landlords completed 70 purchases against 13 sales throughout the year, marking a substantial net increase of 57 properties in their portfolios.

The buy-to-sell ratio for landlords has shown increasing momentum across 2025, from 3.75x in Q2 (15 buys vs 4 sells) to 4.75x in Q3 (19 buys vs 4 sells), and peaking at 6.67x in Q4, suggesting growing confidence or opportunity in the market.

Compared to the previous year, 2024, which saw 97 buys and 16 sells (a 6.06x ratio), landlord buying activity has slightly moderated in total volume for 2025 but maintained a very aggressive net buying stance.

Institutional investors (1000+ properties) exhibited no transaction activity across any timeframe provided, confirming their non-participation in the Murray County SFR market's historical transactions.

Landlords were significant players in Q4 2025, responsible for 20 transactions, which constituted 29.0% of the total 69 SFR transactions recorded in Murray County.

Mom-and-pop landlords (Tiers 01-04) dominated this activity, undertaking 19 transactions, confirming their central role in the county's real estate market dynamics.

The single-property tier (Tier 01) was the most active segment within the landlord community, completing 11 transactions at an average purchase price of $153,756.

Transaction prices showed variability across tiers, with Tier 01 averaging $153,756, Tier 02 at $219,833, and Tier 51-100 at $221,819. Notably, Tier 03-05 recorded an outlier average price of $29,000 across its two transactions, suggesting unique circumstances.

Inter-landlord trading activity was notably low in Q4, with only 1 transaction (50.0% of Tier 03-05 transactions, or 5.3% of total mom-and-pop transactions) indicating direct transfers between existing landlords.