Perkins (SD) Investor Pulse Report (2025-Q4)

Investors in Perkins County, SD, collectively own 205 Single-Family Residential (SFR) properties, representing a significant 27.4% of the county's total 749 SFR properties. This indicates a substantial presence of rental housing within the local market.

Individual investors overwhelmingly dominate the landlord landscape, owning 187 properties (91.2%) compared to only 20 properties (9.8%) held by companies. This pattern extends to entity counts, where individual landlords (254) outnumber company landlords (18) by a commanding 14.11-to-1 ratio, underscoring the prevalence of small-scale investors.

The entire investor-owned portfolio of 205 properties was acquired through cash transactions, with no financed properties reported. Furthermore, 99.0% (203 properties) of these holdings are non-owner-occupied, confirming a clear focus on rental income generation for nearly all landlord-owned assets in Perkins (SD).

This composition highlights that the SFR rental market in Perkins (SD) is almost exclusively funded by cash and operated by individual landlords, diverging significantly from markets with high institutional or leveraged investment activity.

A comprehensive review of acquisition pricing data for Perkins County, SD, reveals a complete absence of recorded average acquisition prices for landlords, all purchasers, or traditional homeowners across all specified timeframes, including Q4 2025, Q2, Q1, All Time, 2024, and the 2020-2023 period.

This critical data gap prevents any analysis of price comparisons between landlords and traditional homeowners, making it impossible to determine if landlords secure discounts or pay premiums in this market. Without this information, insights into acquisition strategies or pricing competitiveness are unobtainable.

Furthermore, the lack of historical pricing data, including from the pandemic-era (2020-2023) to Q4 2025, means no trends in price appreciation or decline can be identified for the Perkins (SD) SFR market. This suggests extremely low transaction volumes or incomplete data reporting for the region.

Perkins County, SD, experienced a completely dormant SFR purchase market in Q4 2025, with zero total SFR purchases recorded by any buyer type. Correspondingly, there were no landlord purchases during this quarter, resulting in a 0.0% landlord share of the market.

The complete lack of purchase activity means no investor tiers, including mom-and-pop (Tier 01-04) or institutional (Tier 09), recorded any new acquisitions in Q4 2025. This indicates a freeze in new investment within the county's SFR sector for the period.

Without any recorded transactions, it is impossible to determine the number of new landlords (single-property, Tier 01) entering the market or to identify any concentration of Q4 activity among specific investor tiers. The data points to a highly illiquid or inactive purchasing environment in Perkins (SD).

The investor-owned SFR market in Perkins County, SD, is entirely composed of mom-and-pop landlords (Tiers 01-04), who collectively control 100.0% of the 209 investor-owned properties. This highlights an exclusive reliance on smaller, individual investors for rental housing provision in the area.

Within this mom-and-pop dominated market, single-property landlords (Tier 01) represent the overwhelming majority, holding 184 properties or 88.0% of the total investor-owned portfolio. Two-property landlords (Tier 02) account for 20 properties (9.6%), while small landlords (3-5 properties, Tier 03-05) own 5 properties (2.4%).

The complete absence of institutional investors (Tier 09, 1000+ properties) with 0.0% ownership underscores the localized and non-corporate nature of the investment landscape in Perkins (SD). This pattern defies national narratives of institutional dominance.

No acquisition pricing data is available by tier for Perkins (SD) across any timeframe, preventing analysis of whether larger mom-and-pop investors pay more or less than smaller ones, or how tier distribution may have evolved over time.

Individual investors are the predominant owners across all existing landlord tiers in Perkins County, SD, illustrating a deep-seated mom-and-pop investment structure. In the single-property tier (Tier 01), individuals own 168 properties (91.3%), significantly outpacing the 16 properties (8.7%) held by companies.

This individual dominance continues in the two-property tier (Tier 02), where individuals own 16 properties (80.0%) compared to 4 properties (20.0%) by companies. For small landlords (3-5 properties, Tier 03-05), individual investors maintain 100.0% ownership with 5 properties and no company presence.

Crucially, there is no observed 'crossover point' in Perkins (SD) where companies assume majority ownership within any tier, reinforcing the market's strong individual investor orientation. The highest concentration of company ownership is a modest 20.0% in the two-property tier.

Due to the absence of specific pricing data by owner type within tiers, it is impossible to analyze how individual versus company acquisition prices may differ or to identify any distinct growth patterns by owner type over time. All reported investor holdings were acquired with cash, and 99.0% are rented, showing a consistent overall strategy across both owner types.

Within Perkins County, SD, landlord-owned properties are heavily concentrated in specific zip codes. SD-Perkins-57620 stands out as the leading sub-geography, boasting 81 investor-owned properties and an exceptionally high investor ownership rate of 61.8%.

Following in property count is SD-Perkins-57638 with 76 investor-owned properties, though its ownership rate is significantly lower at 17.6%. Other notable zip codes include SD-Perkins-57644 (15 properties, 26.3% rate), SD-Perkins-57626 (13 properties, 28.3% rate), and SD-Perkins-57649 (6 properties, 17.1% rate).

SD-Perkins-57620 is unique in exhibiting both the highest count of investor-owned properties and the highest investor ownership percentage, signifying it as a primary hub for SFR investment activity within Perkins County, SD. The high rate indicates that more than half of all SFR properties in this zip code are owned by landlords.

The data provided does not include acquisition prices for these specific sub-geographies, precluding an analysis of price variations across the different zip codes within Perkins County, SD. This geographic concentration points to particular areas being more attractive or accessible for local investors.

A comprehensive review of historical transaction data for landlords in Perkins County, SD, reveals a complete absence of reported buy and sell transactions across all specified timeframes. This includes Q4 2025, Q3, Q2, Q1, annual data for 2024 and 2023, and All Time figures.

This critical data gap makes it impossible to determine whether landlords in Perkins (SD) are net buyers or net sellers, as buy/sell ratios cannot be calculated. Furthermore, analysis of the implied profit margins from average buy versus sell prices, and the percentage of transactions occurring between landlords, cannot be performed.

Similarly, institutional investors (1000+ tier) also show a complete lack of reported transactions, reinforcing the non-institutional and highly illiquid nature of the Perkins (SD) SFR market. This implies that if any transactions occurred, they were not recorded or did not meet the reporting thresholds.

The persistent absence of transaction data suggests that the Perkins (SD) market has experienced extremely low liquidity, or significant reporting gaps, across all analyzed historical periods, providing no insights into market dynamics or investor sentiment over time.

Perkins County, SD, experienced a complete absence of SFR market activity in Q4 2025, with zero total transactions recorded. Consequently, there were no landlord-involved transactions, resulting in a 0.0% landlord share of the market.

This dormancy extends across all investor tiers, with zero transactions reported for mom-and-pop landlords (Tier 01-04) and no activity from institutional investors (Tier 09). This makes it impossible to analyze transaction volumes or average purchase prices by tier for the current quarter.

The lack of any recorded transactions also means no data is available on inter-landlord trading activity or the percentage of properties bought from other landlords. This indicates a frozen transaction environment in Perkins (SD) during Q4 2025.

This finding reinforces the pattern of an illiquid market, consistent with the absence of historical transaction data, and suggests that the Perkins (SD) SFR market is not experiencing active buying or selling by any investor type.