House Flipping Statistics: Profits, ROI by State, and Key Benchmarks of 2026

Our team aggregated and analyzed single-family home and condominium flip transaction data across 851 U.S. counties through year-end 2025.The following benchmarks cover national flipping volume, gross profit margins, return on investment, state-level performance, and investor financing behavior, with full-year 2025 figures representing the primary dataset. The metrics below are for real estate investors, financial researchers, and content professionals seeking citable benchmarks on the U.S. fix-and-flip market.

Key House Flipping Statistics for 2025

The table below aggregates the most critical benchmarks from the full-year 2025 U.S. Home Flipping dataset. These figures represent national medians and averages across all markets with at least 50 documented flips during the calendar year.

Key House Flipping Statistics Chart 2025

• The 25.5% gross ROI in 2025 is the lowest recorded since 2008, driven primarily by record-high acquisition prices that narrowed margins between purchase and resale prices.
• The typical flipped property was built in 1978, the oldest median vintage since ATTOM began tracking, indicating that investors are now taking on more structurally complex projects to access undervalued inventory.
• Despite declining volume and margins, house flipping still accounted for nearly 1 in 13 home sales nationwide in 2025, confirming that the strategy remains embedded in the U.S. residential market at scale.

House Flipping Volume and ROI by Year, 2023 to 2025

The following table documents annual activity over the post-pandemic cycle through 2025's declining margins.

• Flipping volume peaked in 2022 at 407,417 properties, the highest annual total ever recorded, before falling 24% in 2023 as rising mortgage rates and tightening buyer demand made it harder to sell at a profit.
• The 2024 ROI recovery to 32.1% created optimism heading into 2025, but that improvement did not hold; full-year 2025 margins fell to their lowest point since the Great Recession.
• Gross dollar profit has remained within a $65,000–$77,000 range since 2020 even as median acquisition prices climbed significantly. Investors weighing whether to flip or hold for rental income are taking on more risk for the same return than at any point in the post-pandemic cycle.

Best and Worst Markets for House Flipping by ROI in 2025

Geographic variation in flipping performance is substantial. The tables below compare the top and bottom metro areas by gross return on investment for the full year 2025.

The Best Markets for House Flipping by Gross ROI in 2025

The Worst Markets for House Flipping by Gross ROI in 2025

• Pennsylvania and Maryland maintained statewide ROIs above 70% in 2025, sustaining the Mid-Atlantic region's position as the most consistent high-return market for fix-and-flip investors, a pattern that has held for three consecutive years.
• Six of the ten worst-performing markets by ROI in 2025 were located in Texas, reflecting an oversupply dynamic in key metros where new construction added downward pressure on resale values at the same time that acquisition prices remained elevated.
• Market selection is the single most consequential variable in flip profitability, ahead of financing cost, renovation scope, and tax treatment on short-term gains.

House Flipping Activity by State, Q3 2025

The following state-level breakdown compares flipping rates, total flip counts, gross profits, and ROIs for the ten most active states in the third quarter of 2025, the most recent quarter with complete state-level reporting available, based on flipping rate as a percentage of all local home sales.

House Flipping Activity in the Top 10 States, Q3 2025

• Georgia leads all states in flipping rate at 10.1%, with Cobb County and Clayton County recording the highest individual county flipping rates in the country at 19.6% and 19.5%, respectively, reflecting sustained investor demand in Atlanta's suburban ring.
• Texas ranks first in raw flipping volume at 6,860 flips in Q3 alone, but delivers the weakest ROI among the top 10 at just 5.1%, a disparity that highlights how high activity and high profitability are not correlated in oversupplied markets.
• Tennessee stands out among the top 10 for pairing a moderate flipping rate with the highest ROI on the list.

House Flipping Financing and Buyer Profile, 2025

The following table captures how investors funded their acquisitions in 2025 and the buyer demographics on the resale side.

• The share of flips financed through debt rose to 37.7% in 2025, suggesting that as acquisition prices remain elevated, more investors are leveraging hard money or bridge loans rather than deploying cash, which directly increases carrying costs and compresses net margins.
• The uptick in FHA-backed buyers on the resale side, from 10.7% to 11.3%, reflects that flipped homes are being absorbed by first-time buyers and lower-income households rather than move-up buyers, indicating that flippers are increasingly competing for the same entry-level inventory as first-time buyers.
• With an average of 1.25 flips per investor per quarter, the market remains dominated by small-scale independent operators who rely on fast, flexible financing to move on deals before cash buyers close the window. The institutional or "professional flipper" segment, while visible in media coverage, accounts for a small share of total national activity.

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Last updated: June 2026

Sources

1. We Lend Research Study. We Lend LLC. New York, NY. June 2026.
2. ATTOM Team. "2025 Year-End U.S. Home Flipping Report: Home Flipping Profits Lowest Since Great Recession." ATTOM Data. Irvine, CA. March 19, 2026. https://www.attomdata.com/news/market-trends/flipping/2025-year-end-home-flipping-report/
3. Caporal, Jack. "The House-Flipping Statistics Investors Should Know in 2026." The Motley Fool. Updated March 31, 2026. https://www.fool.com/research/house-flipping-statistics/
4. Mehta, Sharad. "240+ House Flipping Statistics: Profits & Pitfalls Revealed (2025)." REsimpli. Updated April 20, 2026. https://resimpli.com/blog/house-flipping-statistics/
5. Santarelli, Marco. "Top 10 States Dominating Home Flipping Activity in 2025." Norada Real Estate Investments / ATTOM. 2025. https://www.noradarealestate.com/blog/top-10-states-dominating-home-flipping-activity-in-2025/