24/7 Wall St. Insights
- Corporate investors dominate many metropolitan housing markets, accounting for more than 1 in 5 home purchases in several major metro areas.
- High investor homebuying activity can drive up housing costs and sideline would-be local buyers.
- Investor activity is highest in Florida, but has cooled off in recent years.
- Investors are also targeting relatively affordable markets with older housing stock like Cleveland and Detroit.
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Over the last several years, investor homebuying activity has declined in tandem with elevated interest rates, rising economic uncertainty, and an overall slowdown in homebuying demand. But investors still make up a significant share of homebuying activity across the country, accounting for more than one in five home purchases in several major metro areas. In many cities, robust investor activity is driving up home prices and limiting housing supply for local buyers.
The cities with the most investor activity are in booming housing markets with fast-growing populations and a high degree of new construction activity. Florida is home to several major investor-dominated markets, although investor activity has declined in recent years in hotspots like Miami, Jacksonville, and Fort Lauderdale. Investors are also targeting relatively affordable markets with older housing stock like Cleveland and Detroit, potentially sidelining would-be local homebuyers in the area. A closer look at the data reveals the cities where investors are buying up the most real estate.
To determine the cities where investors are buying up the most homes, 24/7 Wall St. reviewed real estate data from Redfin. Metropolitan statistical areas were ranked based on the share of homes sold from January 2000 to December 2024 that were purchased by investors. Investor attributions are based on county sale records, and are defined as any buyer whose name includes either LLC, Inc, Trust, Corp, Homes, association, corporate trustee, company, joint venture, or corporate trust as a keyword. Only the 50 most populous metro areas are included in the analysis.
35. Minneapolis, MN
- Share of purchased homes bought by investors: 10.8%
- Median purchase price of homes bought by investors: $300,000
- Total value of homes bought by investors: $500.5 million
34. Seattle, WA
- Share of purchased homes bought by investors: 11.3%
- Median purchase price of homes bought by investors: $875,000
- Total value of homes bought by investors: $745.3 million
33. New Brunswick, NJ
- Share of purchased homes bought by investors: 11.9%
- Median purchase price of homes bought by investors: $480,000
- Total value of homes bought by investors: $623.0 million
32. Virginia Beach, VA
- Share of purchased homes bought by investors: 12.0%
- Median purchase price of homes bought by investors: $205,000
- Total value of homes bought by investors: $192.6 million
31. Portland, OR
- Share of purchased homes bought by investors: 12.2%
- Median purchase price of homes bought by investors: $513,000
- Total value of homes bought by investors: $355.1 million
30. Newark, NJ
- Share of purchased homes bought by investors: 12.4%
- Median purchase price of homes bought by investors: $455,000
- Total value of homes bought by investors: $373.0 million
29. Chicago, IL
- Share of purchased homes bought by investors: 12.9%
- Median purchase price of homes bought by investors: $270,000
- Total value of homes bought by investors: $758.2 million
28. Denver, CO
- Share of purchased homes bought by investors: 13.9%
- Median purchase price of homes bought by investors: $527,800
- Total value of homes bought by investors: $841.0 million
27. Milwaukee, WI
- Share of purchased homes bought by investors: 14.9%
- Median purchase price of homes bought by investors: $172,550
- Total value of homes bought by investors: $162.3 million
26. Columbus, OH
- Share of purchased homes bought by investors: 15.5%
- Median purchase price of homes bought by investors: $209,950
- Total value of homes bought by investors: $226.7 million
25. Nashville, TN
- Share of purchased homes bought by investors: 16.3%
- Median purchase price of homes bought by investors: $371,500
- Total value of homes bought by investors: $589.3 million
24. Oakland, CA
- Share of purchased homes bought by investors: 16.5%
- Median purchase price of homes bought by investors: $1,100,000
- Total value of homes bought by investors: $1.1 billion
23. Cincinnati, OH
- Share of purchased homes bought by investors: 16.9%
- Median purchase price of homes bought by investors: $175,000
- Total value of homes bought by investors: $205.9 million
22. Baltimore, MD
- Share of purchased homes bought by investors: 17.1%
- Median purchase price of homes bought by investors: $188,250
- Total value of homes bought by investors: $356.5 million
21. San Jose, CA
- Share of purchased homes bought by investors: 17.4%
- Median purchase price of homes bought by investors: $1,760,000
- Total value of homes bought by investors: $1.3 billion
20. New York, NY
- Share of purchased homes bought by investors: 17.5%
- Median purchase price of homes bought by investors: $800,000
- Total value of homes bought by investors: $3.3 billion
19. Atlanta, GA
- Share of purchased homes bought by investors: 18.4%
- Median purchase price of homes bought by investors: $265,000
- Total value of homes bought by investors: $1.1 billion
18. Sacramento, CA
- Share of purchased homes bought by investors: 18.5%
- Median purchase price of homes bought by investors: $600,000
- Total value of homes bought by investors: $859.9 million
17. Riverside, CA
- Share of purchased homes bought by investors: 18.5%
- Median purchase price of homes bought by investors: $560,000
- Total value of homes bought by investors: $1.3 billion
16. West Palm Beach, FL
- Share of purchased homes bought by investors: 18.6%
- Median purchase price of homes bought by investors: $515,000
- Total value of homes bought by investors: $1.0 billion
15. Charlotte, NC
- Share of purchased homes bought by investors: 19.0%
- Median purchase price of homes bought by investors: $283,250
- Total value of homes bought by investors: $708.8 million
14. Tampa, FL
- Share of purchased homes bought by investors: 19.4%
- Median purchase price of homes bought by investors: $300,000
- Total value of homes bought by investors: $824.2 million
13. Philadelphia, PA
- Share of purchased homes bought by investors: 19.8%
- Median purchase price of homes bought by investors: $136,650
- Total value of homes bought by investors: $211.6 million
12. Phoenix, AZ
- Share of purchased homes bought by investors: 20.1%
- Median purchase price of homes bought by investors: $415,000
- Total value of homes bought by investors: $1.8 billion
11. Detroit, MI
- Share of purchased homes bought by investors: 20.1%
- Median purchase price of homes bought by investors: $89,900
- Total value of homes bought by investors: $136.4 million
10. Fort Lauderdale, FL
- Share of purchased homes bought by investors: 20.4%
- Median purchase price of homes bought by investors: $400,000
- Total value of homes bought by investors: $816.3 million
9. Orlando, FL
- Share of purchased homes bought by investors: 20.7%
- Median purchase price of homes bought by investors: $335,600
- Total value of homes bought by investors: $657.7 million
8. Los Angeles, CA
- Share of purchased homes bought by investors: 21.0%
- Median purchase price of homes bought by investors: $1,075,000
- Total value of homes bought by investors: $4.9 billion
7. Jacksonville, FL
- Share of purchased homes bought by investors: 21.1%
- Median purchase price of homes bought by investors: $235,056
- Total value of homes bought by investors: $351.3 million
6. Las Vegas, NV
- Share of purchased homes bought by investors: 21.7%
- Median purchase price of homes bought by investors: $410,000
- Total value of homes bought by investors: $854.6 million
5. San Francisco, CA
- Share of purchased homes bought by investors: 22.0%
- Median purchase price of homes bought by investors: $1,853,000
- Total value of homes bought by investors: $1.6 billion
4. San Diego, CA
- Share of purchased homes bought by investors: 22.3%
- Median purchase price of homes bought by investors: $1,071,500
- Total value of homes bought by investors: $2.0 billion
3. Cleveland, OH
- Share of purchased homes bought by investors: 23.5%
- Median purchase price of homes bought by investors: $118,000
- Total value of homes bought by investors: $232.4 million
2. Anaheim, CA
- Share of purchased homes bought by investors: 24.2%
- Median purchase price of homes bought by investors: $1,305,000
- Total value of homes bought by investors: $2.3 billion
1. Miami, FL
- Share of purchased homes bought by investors: 31.4%
- Median purchase price of homes bought by investors: $499,300
- Total value of homes bought by investors: $1.8 billion
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