These 2 maps show where mom-and-pops and institutions own the most homes

Are you a housing investor? Do you own a long-term or short-term rental property? 🏠

If so, you’re invited to participate in the ResiClub-Groundfloor Housing Investor Survey.

The survey results will be published later this month in ResiClub—and in other mainstream publications.

Last month, Parcl Labs released a new product that provides the public with direct access to their housing data API. For today’s issue, ResiClub queried directly from the Parcl Labs API, to see how many homes in the nation’s largest metro area housing markets are owned by mom-and-pops, and how many are owned by institutional operators.

We defined "mom-and-pop" as owners with between 2 and 9 homes.

We defined "institutional" as groups owning at least 1,000 homes nationally.

The finding?

According to ResiClub’s analysis using the Parcl Labs’ API, these 10 housing markets had the highest share of mom-and-pop ownership:

1. Las Vegas, NV (13.7%)

2. Stockton, CA (13.5%)

3. Sacramento, CA (12.4%)

4. Fresno, CA (12.4%)

5. Cape Coral, FL (12.3%)

6. Riverside, CA (12.2%)

7. Bakersfield, CA (12.0%)

8. San Jose, CA (11.1%)

9. North Port (10.3%)

10. Oklahoma City (10.2%)

Click here to view an interactive version of the map below

According to ResiClub’s analysis using the Parcl Labs’ API, these 10 housing markets had the highest share of institutional ownership:

1. Atlanta, GA (4.3%)

2. Jacksonville, FL (3.8%)

3. Charlotte, NC (3.2%)

4. Memphis, TN (3.1%)

5. Tampa, FL (2.8%)

6. Lakeland, FL (2.8%)

7. Orlando, FL (2.8%)

8. Indianapolis, IN (2.8%)

9. Phoenix, AZ (2.6%)

10. Las Vegas, NV (2.5%)

Click here to view an interactive version of the map below

Institutional homeownership (which is just shy of 1.0% nationally) is concentrated in the U.S. Southeast. With the Atlanta metro area being the epicenter.

Not only has the U.S. Southeast seen greater levels of scattered-site rental buying (which has decelerated significantly since interest rates spiked), but it is also a hotspot for built-to-rent, which remains resilient all things considered.

Look no further than ARK Homes for Rent, which currently has 4,200 built-for-rent homes in operation across the Southeast, and an additional 1,000 units under development and under contract, with their largest markets located in Atlanta, Charlotte, Raleigh, Orlando, and Tampa.

“People [institutional capital] start[ed] to realize, ‘hey homebuilders are building the product that residents want to live in, let’s just go buy directly from them.’ Homebuilders are really benefiting from it—D.R. Horton wants to build 100,000-120,000 homes per year, do they care particularly if the buyer lives there or rents it out? No. Are they happy to sell entire communities to one buyer and shorten their capital cycle? That’s a great investment for them,” ARK Homes for Rent CEO John Isakson told ResiClub in April.

Despite spiked interest rates, Isakson told ResiClub that ARK Homes for Rent plans to go from 4,200 built-to-rent homes to between 25,000 to 30,000 homes across the Southeast over the next four to six years.

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