House investors target California's most-affordable counties

"BatchData figures were used to rank California's 58 counties by the average prices investors paid for homes in 2020-25. The counties were then split into three groups, each equally weighted by the number of houses. First, note the huge cost differences. The average investor's purchase price in the cheapest counties was $455,000 - roughly one-third the $1.38 million spent in the costliest counties."

"Investors owned 498,888 houses in the least-expensive counties as of 2025's third quarter vs. 383,277 owned in the most-expensive counties. That's 30% more. This translates to California investors controlling 21% of all houses in the cheaper counties, compared with 13% in the priciest places. The thriftiness continues inside acquisition strategies. Investors bought 185,779 houses in 2020-25 in California's low-cost counties vs. 133,023 purchases in the most-expensive counties. That's - 40% more. Still, note that these price-linked differences look a tad different when considering the dollars involved. Investor purchases in 2020-25 totaled $84 billion in the least-expensive locations. Yet in the priciest counties, investors paid $183 billion for their acquisitions - more than double, in the same period."

BatchData Q3 2025 calculates investor ownership of houses and townhomes; investors include giant companies, small rental owners, short-term rental operators, and second-home owners; condo ownership is excluded. California's 58 counties were ranked by average investor purchase price for 2020-25 and split into three groups equally weighted by number of houses. The average investor purchase price was $455,000 in the cheapest counties and $1.38 million in the costliest counties. Investors owned 498,888 houses in the least-expensive counties versus 383,277 in the most-expensive counties, a 30% higher count. Investor share equaled 21% of houses in cheaper counties and 13% in pricier counties. Investors bought 185,779 houses in 2020-25 in low-cost counties versus 133,023 in high-cost counties, about 40% more purchases. Total investor spending in 2020-25 was $84 billion in least-expensive locations and $183 billion in the priciest counties.

Read at The Mercury News