These Are the Cities Where Investors Are Buying Up the Most Real Estate

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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