Indiana is Surging and Florida is Pulling Back
by SFR Analytics
Real estate is recovering, but investors need to be selective to find the best opportunities in 2026.
Today’s market is more selective, while some sectors are thriving and others are lagging. The biggest opportunities are going to investors who understand the difference.
“Real estate is in a recovery mode,” says Henry Chin, global head of research for CBRE, but the focus has shifted from price appreciation to steady income. “Investors should look at cyclical and structural points of view to pick the right assets and locations.”
The report below is provided courtesy of SFR Analytics. SFR Analytics delivers comprehensive property data and investor intelligence to power better decisions in residential real estate.
Executive Summary
» 75210 in Dallas, TX ranks first nationally at 77.6%, overtaking the usual St. Louis and Baltimore names on pure concentration.
» The deepest top-100 metro clusters remain St. Louis, Memphis, Baltimore, and Cleveland, anchored by older housing stock and rehab-friendly price points.
» 46617 in South Bend, IN, is the clearest new headline ZIP at 75.0% investor share.
Where Investors Are Most Active
The leaderboard still leans toward older, lower-basis housing stock where operators can buy below replacement cost and still make the numbers work after rehab. Dallas moved to the top of the list, South Bend pushed into the top tier, and higher-end ZIP codes like 33133 in Miami and 90272 in Pacific Palisades remain part of the national picture. See Chart 1
The top ZIP codes now break into three distinct investor strategies:
» Classic yield and rehab markets: St. Louis, Baltimore, Memphis, Cleveland, Kansas City.
» Concentrated operator bets: South Bend, Braddock, where one buyer or a small cluster drives most of the activity.
» High-end strategic buys: Miami, Pacific Palisades, where the thesis is redevelopment, privacy, or long-duration appreciation rather than cash flow.
The Metro Pattern Is Still Clear
One reason the national list still looks familiar is that investor-heavy ZIP codes remain concentrated in a handful of metros. St. Louis alone contributes 12 ZIP codes to the top 100.
Memphis, Baltimore, and Cleveland continue to show up as deep ecosystems, not just isolated neighborhoods. So, while the #1 ZIP code changed, the national backbone did not. See Chart 2
How These Deals Are Getting Financed
Investors have several methods to finance their purchases. The chart below shows the financing methods for investment purchases in the top 30 zip codes. See Chart 3
The Biggest Movers
The same quarter year-over-year comparison is the cleanest short-term pulse check because it holds seasonality constant. See Chart 4
