$119.1bn
$XX.Xbn
875k
304k
$XX.Xbn
Property managers are hired to oversee operations for apartment complexes and other rental sites. Demand for management services is countercyclical, as more consumers switch to rentals when the economy worsens and the price of home ownership increases. Managers experienced growth during the economic downturn brought on by COVID-19, carried by improved residential constructions. Rental vacancy rates declined as property owners needed to fill more apartments to maximize revenue during a time of uncertainty, as the eviction moratorium prevented them from pushing out renters who couldn't pay. A sharp increase in office rental vacancies did pressure the industry, as working from home became the norm because of pandemic-related restrictions. Revenue has grown at a CAGR of 1.4% to $117.3 billion over the past five years, despite a decline of 3.6% in 2023 alone.
Industry revenue has grown at a CAGR of 0.5 % over the past five years, to reach an estimated $119.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Prologis, Inc. | 5,189.1 | 2,174.5 | 41.9 | |
Boston Properties, Inc. | 3,286.0 | 1,120.0 | 34.1 | |
Newmark Group, Inc. | 2,744.0 | 388.0 | 14.1 |
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Industry revenue is measured across several distinct product and services lines, including Residential property management, Nonresidential property management and Real estate agent and brokerage services. Residential property management is the largest segment of the Property Management in the US.
Residential properties occupy the majority of managers
Companies in this industry manage residential and nonresidential real estate for property owners. Property management responsibilities relate to the overall operation of a property, including maintenance, rent collection, trash removal, security and some renovation activities. Industry players may also help manage a property’s accounting, but operations related to the transactions of properties or real estate investments are not included in this industry.
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NAICS 53131 - Property Management in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Property value determines the success of property managers. The greater the returns owners manage, the greater the need for managers.
Learn about an industry's products and services, markets and trends in international trade.
Residential properties provide the greatest return for owners. The high number of residents necessitates extensive management to meet all needs.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Cities continue to be home to the highest population of renters. Large apartment complexes provide a substantial portion of revenue for managers.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Differentiation between property managers is minimal in the industry. Competition hinges on providing the most organized service with the highest customer satisfaction.
Learn about the performance of the top companies in the industry.
Small management operations make up most of the industry. Demand from small, independent rental facilities creates a highly fragmented industry.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Vacancies are directly tied to industry success. Although having some vacancies is essential to preserving property value, too many empty rentals lessen the need for managers...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit hinges on the success of rentals. When the rental market is healthy, more is spent on management services. boosting revenue.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Property Management in the US industry in United States is $119.1bn in 2024.
There are 304k businesses in the Property Management in the US industry in United States, which has grown at a CAGR of 1.9 % between 2019 and 2024.
The market size of the Property Management in the US industry in United States has been growing at a CAGR of 0.5 % between 2019 and 2024.
Over the next five years, the Property Management in the US industry in United States is expected to grow.
The biggest companies operating in the Property Management market in United States are Prologis, Inc., Boston Properties, Inc. and Newmark Group, Inc.
Residential property management and Nonresidential property management are part of the Property Management in the US industry.
The company holding the most market share in United States is Prologis, Inc..
The level of competition is moderate and steady in the Property Management in the US industry in United States.