Where Trump's Housing Policy Would Hit Hardest
The Zip Codes Where Institutional Investors Own The Most Single Family Homes
President Trump’s announcement last week about restricting institutional investors from owning single-family homes has generated significant media attention.
Even though the administration hasn't defined "institutional investor," we’ll use the standard definition of 1,000+ homes owned for this analysis.
As we previously wrote, institutions own a negligible share of homes (near 0%) in most of the United States. However, in specific markets—Atlanta, Charlotte, Phoenix, and Jacksonville—they own a significant share of homes in some neighborhoods.
In some neighborhoods, institutional investors own upwards of 50% of single-family homes.
We analyzed the ZIP codes with the highest institutional ownership of single-family homes—both by count and as a percentage of total housing stock.
There are 15 ZIP codes where institutional investors own 10%+ of all single-family homes, 8 of them in Atlanta. There are 19 distinct MSAs represented, with Atlanta having 29 of the top 100 ZIP codes.
Outside the top 15–20 ZIP codes, institutional ownership drops quickly, falling to around 3% by the middle of the list.
Phoenix houses 11 of the top 100 ZIP codes.
Charlotte hosts 13 of the top 100 ZIP codes.
Atlanta has 29.
And Jacksonville has 7.
This geographic concentration is predictable: institutional investors apply strict acquisition criteria and those properties tend to cluster by price point, size, age, and other characteristics.
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