Investor Ownership Share
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A data report · May 2026
Institutional ownership isn’t a national story. It’s a local one.
The 21st Century ROAD to Housing Act would redefine institutional investors as anyone owning 350+ homes and restrict their future purchases. Who does this bill actually capture, and how much do they own?
Investors with 350+ units · data through May 2026
The national picture
Nationally, the share is tiny
1 in 151 single-family homes
Institutions own just 0.66% of all U.S. single-family homes
But the national average hides where the real action happens.
Where they actually are
Institutions own homes across 9,559 zip codes - but their activity is highly concentrated
Each circle is a zip code where 350+ unit investors own single-family homes. Brighter circles = higher share of stock they control. Most of the country has none. In a few zips, they own 1 in 6 homes.
0
Homes Owned
0
Portfolios
0
Zip Codes Touched
0
Listed For Sale
The players
Six firms own over 360,000 homes
Progress Residential
85,713
Invitation Homes
85,204
AMH
60,369
FirstKey Homes
48,464
Amherst
44,064
Tricon Residential
38,779
Geographic concentration
Six Sun Belt metros hold 40% of all institutional SFR
Atlanta alone accounts for more institutional homes than the next two metros combined.
Atlanta
79,565
Dallas
38,112
Phoenix
36,086
Charlotte
30,827
Houston
29,822
Tampa
26,186
Zoom in
Zooming in on the institutional hotspots
For each Sun Belt metro, we zoom three levels: the metro itself, the zips with the highest institutional ownership, and the streets where these Wall Street landlords are literal neighbors.
Atlanta · Dallas · Phoenix · Charlotte · Houston · Tampa
Metro Deep Dive
Atlanta
GA
The undisputed capital of institutional SFR. Large-scale investors own 1 in 7 homes in some neighborhoods.
0
Institutional Homes
0
Investors
0
Zip Codes
0
Listed Now
Highest Investor Concentration
Top zip codes by ownership share
| Zip | % Owned |
|---|---|
| 30291 | 14.3% |
| 30349 | 14.3% |
| 30213 | 14.3% |
| 30134 | 12.1% |
| 30135 | 12.1% |
ZIP → STREET LEVEL
Atlanta · Inside zip 30349
141 homes. 23 different Wall Street landlords. One neighborhood.
In the densest cluster of 30349 (south Atlanta), institutional landlords aren't scattered - they're literally next-door neighbors. Each dot is one house, colored by its corporate owner.
141
Homes Mapped
23
Distinct Owners
~1.3 km2
Cluster Area
Progress Residential
Amherst
Tricon Residential
FirstKey Homes
Bridge Homes
+18 other landlords
Cluster derived from densest 0.012° cell in zip 30349 · n=141 properties
Metro Deep Dive
Dallas
TX
The second-largest institutional footprint after Atlanta. Owners are spread across 229 zip codes, from Fort Worth to Frisco.
0
Institutional Homes
0
Investors
0
Zip Codes
0
Listed Now
Highest Investor Concentration
Top zip codes by ownership share
| Zip | % Owned |
|---|---|
| 75147 | 8.8% |
| 76123 | 8.6% |
| 75146 | 8.3% |
| 76140 | 6.9% |
| 75236 | 6.9% |
ZIP → STREET LEVEL
Dallas · Inside zip 76179
187 homes. 16 different Wall Street landlords. Same few blocks.
Northwest Fort Worth's 76179 looks like a normal subdivision. Color-code each house by its institutional owner and a different picture appears: 16 portfolios share the same streets.
187
Homes Mapped
16
Distinct Owners
~1.3 km2
Cluster Area
Progress Residential
Tricon Residential
Invitation Homes
Open House
AMH
+11 other landlords
Cluster derived from densest 0.012° cell in zip 76179 · n=187 properties
Metro Deep Dive
Phoenix
AZ
The third-largest institutional footprint. Owners are spread across 142 zip codes, from Surprise to Maricopa.
0
Institutional Homes
0
Investors
0
Zip Codes
0
Listed Now
Highest Investor Concentration
Top zip codes by ownership share
| Zip | % Owned |
|---|---|
| 85335 | 11.0% |
| 85043 | 9.2% |
| 85143 | 7.8% |
| 85353 | 7.2% |
| 85037 | 6.8% |
ZIP → STREET LEVEL
Phoenix · Inside zip 85041
129 homes. 17 different Wall Street landlords. South Mountain.
South Phoenix's 85041 stretches across South Mountain. In its densest pocket, Progress, Invitation, AMH and Tricon all own clusters within one ZIP - sometimes within walking distance of each other.
129
Homes Mapped
17
Distinct Owners
~1.3 km2
Cluster Area
Progress Residential
Invitation Homes
AMH
Tricon Residential
Roofstock
+12 other landlords
Cluster derived from densest 0.012° cell in zip 85041 · n=129 properties
Metro Deep Dive
Charlotte
NC
The fourth-largest institutional footprint. Wall Street landlords own 1 in 6 homes in the densest north Charlotte zip codes.
0
Institutional Homes
0
Investors
0
Zip Codes
0
Listed Now
Highest Investor Concentration
Top zip codes by ownership share
| Zip | % Owned |
|---|---|
| 28262 | 15.9% |
| 28269 | 15.9% |
| 28216 | 10.8% |
| 28273 | 9.6% |
| 28215 | 9.3% |
ZIP → STREET LEVEL
Charlotte · Inside zip 28269
246 homes. 18 different Wall Street landlords. The densest cluster yet.
North Charlotte's 28269 has the highest unit + portfolio combo in our six metros. In one pocket, 246 institutionally-owned homes sit shoulder-to-shoulder, controlled by 18 different firms. This is what concentration risk looks like.
246
Homes Mapped
18
Distinct Owners
~1.3 km2
Cluster Area
Progress Residential
AMH
Tricon Residential
Invitation Homes
Amherst
+13 other landlords
Cluster derived from densest 0.012° cell in zip 28269 · n=246 properties
Metro Deep Dive
Houston
TX
The fifth-largest institutional footprint, concentrated north of the city. Investors hold homes across 193 zip codes, from The Woodlands to Greenspoint.
0
Institutional Homes
0
Investors
0
Zip Codes
0
Listed Now
Highest Investor Concentration
Top zip codes by ownership share
| Zip | % Owned |
|---|---|
| 77073 | 8.5% |
| 77048 | 7.5% |
| 77301 | 6.1% |
| 77302 | 6.1% |
| 77384 | 5.7% |
ZIP → STREET LEVEL
Houston · Inside zip 77346
147 homes. 18 different Wall Street landlords. Northeast Harris County.
In Atascocita / Humble's 77346, institutional landlords have piled into the same suburban tracts - Progress, Invitation, FirstKey, Open House, and a dozen smaller players all owning houses on the same streets.
147
Homes Mapped
18
Distinct Owners
~1.3 km2
Cluster Area
Progress Residential
Invitation Homes
Open House
FirstKey Homes
High Opportunity Neighborhood Partners
+13 other landlords
Cluster derived from densest 0.012° cell in zip 77346 · n=147 properties
Metro Deep Dive
Tampa
FL
Florida's Gulf Coast became an investor favorite during the pandemic boom. Today, the sixth-largest institutional footprint sits concentrated across Tampa's eastern suburbs.
0
Institutional Homes
0
Investors
0
Zip Codes
0
Listed Now
Highest Investor Concentration
Top zip codes by ownership share
| Zip | % Owned |
|---|---|
| 33534 | 10.5% |
| 33570 | 10.0% |
| 33579 | 9.2% |
| 33578 | 9.1% |
| 33511 | 9.1% |
ZIP → STREET LEVEL
Tampa · Inside zip 33578
172 homes. 16 different Wall Street landlords. Riverview, FL.
In Riverview's 33578, 172 institutionally-owned homes pack into a single neighborhood south of Tampa. 16 different landlords share the same blocks.
172
Homes Mapped
16
Distinct Owners
~1.3 km2
Cluster Area
Progress Residential
AMH
Invitation Homes
FirstKey Homes
Tricon Residential
+11 other landlords
Cluster derived from densest 0.012° cell in zip 33578 · n=172 properties
1 in 151
U.S. single-family homes
Investors with 350+ homes own just 0.66% of single-family homes nationally. But inside the right zip code in Atlanta, Charlotte or Phoenix, that share is 15%+ - and within those zips, the real concentration is on a handful of streets where 15-20 institutional landlords are next-door neighbors. That’s where pricing power, listing-supply shocks, and rental-market volatility actually live.
Interested in the underlying data?
parcllabs.com · May 2026