Property Management Industry Statistics & Trends [2024 ]

Last Updated: September 12, 2024

Highlights. Projections indicate the property management industry will be worth $123.502 billion in 2025; industry revenue for 2024 is an estimated $119.1 billion.

U.S. property management industry revenue grows 3.70% annually.
84.6% of property management industry revenue comes from the residential management industry.
Out of the 304,000 property management businesses in the United States, 238,000 are residential property management companies.
The property management industry employs a total of 875,000 full-time, part-time, contract, and self-employed workers; 720,000 work in residential property management.
Property management positions had a net growth of 64,120 between 2022 and 2023, up 29.1%.

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Line graph: Natoinal Property Management Industry Annual Market Revenue in billions of U.S. dollars from 2013 (80.4) to 2024 (124.7) according to Statista and IBISworld with iPM projection for 2025 (129.4)

Property Management Industry Revenue

Data indicate that property management is still a growth industry though growth is expected to remain slow over the next few years.

In 2023, revenue in the property management industry totaled $119.8 billion.
Industry revenue declines 0.58% in 2024, down $700 million from the 2023 market.
Property management industry revenue also declined in 2023 (-1.6%) and in 2022 (-1.4%).
For the residential property management industry alone, revenue increases 0.50% in 2024, up $500 million from the 2023 market.
Residential property management industry revenue will total $100.8 billion in 2024, equivalent to 84.63% of all property management revenue.
83.7% of industry revenue came from residential property management services in 2023.
From 2014 to 2024, property management industry revenue has grown at an average annual rate of 3.70%.

Line graph: National Property Management Industry Annual Market Growth from 2014 (7.96%) to 2024 (-0.58%) according to Statista and IBISWorld with projection for 2025 (3.70%)

Property Management Industry Employment

The job market among property management is expected to grow by an estimated 5.0% or 23,400 new jobs between 2022 and 2032.

284,120 property managers work for property management companies in the United States; this number excludes self-employed property managers.
In 2023, a total of 429,600 Americans worked in property management, including real estate and community association management.
$37.69 is the average hourly wage among property managers ($78,400 per year) as of 2023.
Median pay as of 2023 is $30.22 per hour ($62,850 per year).
875,000 workers find some type of employment with the property management industry in 2024.
There is a net growth of 14,897 jobs in 2024 compared to 2023, up 1.73%.
The highest-income property manager positions are in Washington, where their average annual wage is $118,360.
51.7% of property managers have over a decade of experience; among them, 44.3% have over 20 years in the industry.

Line graph: Property Management Industry Producer Price Index where 100 = December 2023 from 2004 (102.2 for residential and 100.9 for all real estate) to July 2024 (147.1 residential and 137.1 all real estate) according to the Federal Reserve Bank of St. Louis Economic Data

Property Managers Producer Price Index

The Producer Price Index (PPI) as recorded by the Federal Reserve measures the price of services in an industry.

In July 2024, the PPI for real estate property managers in general was up 5.16% year-over-year (YoY).
Between December 2003 and 2023, the PPI for real estate property managers increased 29.1%.
From 2004 to 2023, the real estate property managers PPI has had an average annual growth rate of 1.24%.
The PPI’s average annual growth peaked in 2022 with the index up 4.31% over 2021.
For residential property managers, the PPI was up 4.41% YoY in July 2024.
Residential property managers PPI grew 39.7% between December 2003 and 2023.

Line graph: Property Management Industry PPI Annual Growth from 2005 (1.58% for residential and 0.70% for commercial) to 2024 (4.41% for residential and 6.37% for commercial) according to the Federal Reserve Bank of St. Louis Economic Data

Residential Property Management Industry

Residential property management has seen more industry growth than nonresidential or commercial property management^*.

78.3% of property management businesses provide management services for residential properties.
82.3% of employees in the property management industry work with residential properties.
Residential property managers PPI has had an average annual growth rate of 1.57% from 2004 to 2023.
The largest average annual growth for residential property managers PPI was 4.07% in 2008.
460,000 residential rental units in 2- to 4-unit buildings have a property manager living on-site; that’s 31.2% of all residential rental units in 2- to 4-unit properties.

^*Residential properties with more than 5 units or tenant groups are often classified as commercial property.

Top 10 Largest^† Commercial Property Management Companies
Company	2023 Millions of Ft² Managed	Portfolio Includes Multifamily Housing
CBRE	7,300	Yes
Cushman & Wakefield	2,556	Yes
Colliers	2,556	Yes
NAI Global	1,100	Yes
JLL	870	No
Lincoln Property Co.	401	Yes
Hines	310	Yes
Newmark	276	No
Stream Realty Partners	188	No
Transwestern Real Estate Services	232	No

^†Largest in terms of square feet of property managed.

Commercial Property Management

Nonresidential or commercial property management usually refers only to business properties; however, some residential properties are classified as commercial.

66,000 businesses manage only commercial properties.
21.7% of the property management industry specializes in commercial property management.
155,000 property management workers deal exclusively with commercial property management.
17.7% of property management industry employees exclusively work with commercial properties.
For nonresidential property managers, the PPI was up 6.37% YoY in July 2024.
Nonresidential property managers PPI grew 11.6% between December 2003 and 2023.
Nonresidential property managers PPI has had an average annual growth rate of 0.61% from 2004 to 2023.
The largest average annual growth for nonresidential property managers PPI was 7.07% in 2023.

Grouped bar graph: Number of Property Management Companies in thousands from 2018 (267 total, 194 residential, and 64.4 commercial) to 2024 (304 total, 238 res, 71.6 com) according to IBISWorld with an iPM projection for 2025 (311, 246, and 73.0, respectively)

Property Management Companies

Ten (10) companies manage a total of 2.358 million apartments, up to 5.22% of rented homes.

There’s a net growth of 7,523 property management companies in 2024 compared to 2023, up 2.54%.
The leading property management company manages 798,272 rental units as of 2024.
In the U.S., 20 companies manage 3.227 million rental units (equivalent to 7.15% of 45.155 million rented homes) as of 2024.
The Top 5 commercial property management companies offer third-party management services only (no owner-operators).
All of the Top 5 commercial property management companies have office, industrial, and retail spaces included in their portfolios.
Three (3) of the Top 30 commercial property management companies increased the size of their portfolio by an additional 25%+ between 2022 and 2023 in terms of millions of square feet managed:
- Lincoln Property Co. (45.3% growth)
- Newmark (27.8% growth)
- BKM Capital Partners (25.0% growth)

National Map: Property Manager Income by State according to the U.S. Bureau of Labor Statistics

Property Management Duties

Property managers are increasingly concerned about growth and owner satisfaction, with a declining interest in residents and property improvements.

More than 80% of property managers are involved in the coordination or performance of maintenance/repairs as well as rent and fee collections.
More than 70% of property managers perform property inspections, advertise vacancies, and facilitate leases.
47.8% of property managers consider growth a top priority.
45.1% prioritize efficiency.
31.0% of property managers cite profitability as a top concern.
23.0% of property managers call the property owner a priority.
22.6% prioritize communication.
16.1% of property managers call tenants a priority.

National map: Property Manager Population Density, 2023 location quotient with the national being 1.00 according to the U.S. Bureau of Labor Statistics

Rental Property Market

In the past decade, rental vacancy has drastically decreased to its lowest point since the 1980s.

The current nationwide rental vacancy rate is 6.6%.
National rental vacancy hit a 38-year low (5.8%) in 2022.
Between 2009 and 2020, the national rental vacancy rate decreased by 85%.
The average monthly rent for 2024 is $1,521.
Among apartment listings in the U.S., the average asking rent is $2,016 per month.
In order to afford a two-bedroom apartment, the average American must make an estimated $32.11 per hour.

For more information, see our report on Renting Statistics.

National map: Property Manager Job Density per 1,000 jobs according to U.S. Bureau of Labor Statistics

State Property Management Industry

Including the District of Columbia and some territories.

Property managers in Washington make more than those in any other state, with a 51.0% higher paycheck than the average American property manager.
In Montana and South Dakota, property manager income is lowest, equivalent to about two-thirds that of the average property manager.
Illinois is the most lucrative state for the property management industry, where the average company makes over $1.08 million per year.
The District of Columbia has more property managers per capita than any other state, with nearly four (4) times as many as the nationwide average.
California, Nevada, and Hawaii also have a high per capita of property managers with at least one (1) for every 1,000 residents.
Wisconsin has fewer property managers per capita than any other state, equivalent to 33.3% as many as the national average.
Washington, Colorado, and Arkansas also have a low per capita of property managers with about half as many as the national average.

State Property Management Statistics
Geographic Area	2023 Industry Employment (excludes self-employ)	Average Annual Wage
United States	284,120	$78,400
Alabama	2,910	$59,850
Alaska	580	$70,660
Arizona	6,610	$73,230
Arkansas	1,430	$62,420
California	50,100	$84,990
Colorado	2,290	$114,490
Connecticut	3,150	$86,100
Delaware	750	$70,390
District of Columbia	2,250	$97,920
Florida	42,570^‡	$77,690
Georgia	7,400	$74,450
Guam	120^‡	$79,340
Hawaii	1,830	$70,380
Idaho	1,610	$60,960
Illinois	12,550	$81,310
Indiana	4,270	$67,830
Iowa	2,290	$55,740
Kansas	2,830	$59,970
Kentucky	2,930	$53,810
Louisiana	3,560	$59,600
Maine	710	$61,400
Maryland	4,810	$89,890
Massachusetts	5,410	$96,160
Michigan	6,390	$66,670
Minnesota	5,140	$73,740
Mississippi	2,230	$52,260
Missouri	4,650	$59,290
Montana	1,360	$51,520
Nebraska	1,330	$66,430
Nevada	4,100	$68,060
New Hampshire	740	$72,360
New Jersey	4,770	$88,260
New Mexico	1,240	$69,250
New York	10,480	$116,050
North Carolina	7,890	$88,870
North Dakota	810	$65,690
Ohio	9,500	$61,470
Oklahoma	2,080	$72,240
Oregon	2,670	$72,320
Pennsylvania	7,630	$74,220
Puerto Rico	110	$70,400
Rhode Island	680	$93,710
South Carolina	4,450	$67,190
South Dakota	1,160	$51,620
Tennessee	5,010	$66,660
Texas	31,810	$76,240
Utah	3,210	$70,850
Vermont	390	$74,800
Virgin Islands	60	$53,350
Virginia	4,860	$90,760
Washington	2,720	$118,360
West Virginia	1,290	$60,170
Wisconsin	1,670	$74,690
Wyoming	410	$71,370

^‡Includes self-employed property managers.

Alabama Property Management Industry

Property management industry revenue in Alabama totals $774.6 million in 2024.

Alabama’s market will support 5,100 property managers by 2025; by 2032, the market should support 5,490.
2,465 Alabama businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Alabama property manager made $59,850 in 2023.
With 5,020 Alabama property managers employed in 2023, payroll totaled $300 million.
Property managers made $6,456 more than the average Alabama worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Alabama made $18.5K less in 2023.
In 2023, the 10% lowest paid property managers in Alabama earned an average of $25,900; the 10% highest paid earned $88,670.
Alabama property management employment is expected to grow 1.59% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Alabama declined 4.02%.

Alaska Property Management Industry

Property management industry revenue in Alaska totals $131.1 million in 2024.

Alaska’s property management industry will employ 640 workers by 2025; by 2032, the market should support 650.
382 Alaska businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Alaska property manager made $70,660 in 2023.
With 650 employed in 2023, Alaska’s property management payroll totaled $45.929 million.
Property managers made $772 more than the average Alaska worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Alaska made $7,740 less in 2023.
In 2023, the 10% lowest paid property managers in Alaska earned an average of $38,430; the 10% highest paid earned an average of $117,510.
Alaska property management employment is expected to decline 1.54% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Alaska increased 1.56%.

Arizona Property Management Industry

Property management industry revenue in Arizona totals $2.30 billion in 2024.

Arizona’s property management industry will employ 11,250 workers by 2025; by 2032, the market should support 11,580.
6,416 Arizona businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Arizona property manager made $73,230 in 2023.
With 11,030 employed in 2023, Arizona’s property management payroll totaled $807.7 million.
Property managers made $10,185 more than the average Arizona worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Arizona made $5,170 less in 2023.
In 2023, the 10% lowest paid property managers in Arizona earned an average of $39,900; the 10% highest paid earned an average of $108,570.
Arizona property management employment is expected to grow 1.99%between 2023 and 2025.
Between 2022 and 2023, property management company employment in Arizona grew 1.85%.

Arkansas Property Management Industry

Property management industry revenue in Arkansas totals $451.4 million in 2024.

Arkansas’s property management industry will employ 2,640 workers by 2025; by 2032, the market should support 2,800.
2,301 Arkansas businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Arkansas property manager made $62,420 in 2023.
With 2,580 employed in 2023, Arkansas’s property management payroll totaled $161.0 million.
Property managers made $11,169 more than the average Arkansas worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Arkansas made $15,980 less in 2023.
In 2023, the 10% lowest paid property managers in Arkansas earned an average of $29,930; the 10% highest paid earned an average of $122,240.
Arkansas property management employment is expected to grow 2.33%between 2023 and 2025.
Between 2022 and 2023, property management company employment in Arkansas increased 1.18%.

California Property Management Industry

Property management industry revenue in California totals $18.2 billion in 2024.

California’s property management industry will employ 78,600 workers by 2025; by 2032, the market should support 81,600.
50,790 California businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average California property manager made $84,990 in 2023.
With 76,600 employed in 2023, California’s property management payroll totaled $6.510 billion.
Property managers made $8,030 more than the average California worker in 2023.
Compared to the nationwide average wage in their industry, property managers in California made $6,590 more in 2023.
In 2023, the 10% lowest paid property managers in California earned an average of $38,840; the 10% highest paid earned an average of $158,330.
California property management employment is expected to grow 2.61% between 2023 and 2025.
Between 2022 and 2023, property management company employment in California declined 3.65%.

Colorado Property Management Industry

Property management industry revenue in Colorado totals $2.0 billion in 2024.

Colorado’s property management industry will employ 4,550 workers by 2025; by 2032, the market should support 6,250.
8,568 Colorado businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Colorado property manager made $114,490 in 2023.
With 4,440 employed in 2023, Colorado’s property management payroll totaled $508.3 million.
Property managers made $42,522 more than the average Colorado worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Colorado made $36,090 more in 2023.
In 2023, the 10% lowest paid property managers in Colorado earned an average of $58,090; the 10% highest paid earned an average of $196,210.
Colorado property management employment is expected to grow 2.48% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Colorado declined up to 21.7%.

Connecticut Property Management Industry

Property management industry revenue in Connecticut totals $910.0 million in 2024.

Connecticut’s property management industry will employ 5,100 workers by 2025; by 2032, the market should support 5,730.
2,924 Connecticut businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Connecticut property manager made $86,100 in 2023.
With 5,010 employed in 2023, Connecticut’s property management payroll totaled $431.4 million.
Property managers made $12,364 more than the average Connecticut worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Connecticut made $7,700 more in 2023.
In 2023, the 10% lowest paid property managers in Connecticut earned an average of $40,130; the 10% highest paid earned an average of $132,830.
Connecticut property management employment is expected to grow 1.80% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Connecticut declined 2.53%.

Delaware Property Management Industry

Property management industry revenue in Delaware totals $520.4 million in 2024.

Delaware’s property management industry will employ 1,290 workers by 2025; by 2032, the market should support 1,250.
1,034 Delaware businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Delaware property manager made $70,390 in 2023.
With 1,220 employed in 2023, Delaware’s property management payroll totaled $85.876 million.
Property managers made $4,392 more than the average Delaware worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Delaware made $8,010 less in 2023.
In 2023, the 10% lowest paid property managers in Delaware earned an average of $39,730; the 10% highest paid earned an average of $116,210.
Delaware property management employment is expected to grow 5.74% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Delaware grew 1.67%.

District of Columbia Property Management Industry

D.C. has more property managers per capita than any state or territory.

D.C.’s property management industry will employ 2,840 workers by 2025; by 2032, the market should support 2,920.
The average D.C. property manager made $97,920 in 2023.
With 2,770 employed in 2023, D.C.’s property management payroll totaled $271.2 million.
Property managers made $8,306 less than the average D.C. worker in 2023.
Compared to the nationwide average wage in their industry, property managers in D.C. made $19,520 more in 2023.
In 2023, the 10% lowest paid property managers in D.C. earned an average of $51,850; the 10% highest paid earned an average of $164,670.
D.C. property management employment is expected to grow 2.53% between 2023 and 2025.
Between 2022 and 2023, property management company employment in D.C. grew 0.36%.

Florida Property Management Industry

Property management industry revenue in Florida totals $9.400 billion in 2024.

Florida’s property management industry will employ 45,080 workers by 2025; by 2032, the market should support 47,600.
26,974 Florida businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Florida property manager made $77,690 in 2023.
With 42,570 employed in 2023, Florida’s property management payroll totaled $3.307 billion.
Property managers made $17,474 more than the average Florida worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Florida made $710 less in 2023.
In 2023, the 10% lowest paid property managers in Florida earned an average of $36,780; the 10% highest paid earned an average of $135,990.
Florida property management employment is expected to grow 5.90% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Florida increased 2.31%.

Georgia Property Management Industry

Property management industry revenue in Georgia totals $3.600 billion in 2024.

Georgia’s property management industry will employ 13,380 workers by 2025; by 2032, the market should support 13,820.
8,835 Georgia businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Georgia property manager made $74,450 in 2023.
With 12,920 employed in 2023, Georgia’s property management payroll totaled $961.9 million.
Property managers made $13,194 more than the average Georgia worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Georgia made $3,950 less in 2023.
In 2023, the 10% lowest paid property managers in Georgia earned an average of $33,300; the 10% highest paid earned an average of $128,580.
Georgia property management employment is expected to grow 3.56% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Georgia grew 2.22%.

Guam Property Management Industry

Property management supports a 120-person workforce in Guam in 2024.

Guam’s property management industry will employ 140 workers by 2025; by 2032, the market should support 100.
The average Guam property manager made $79,340 in 2023.
With120 employed in 2023, Guam’s property management payroll totaled $9.521 million.
Property managers made $37,137 more than the average Guam worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Guam made $940 more in 2023.
In 2023, the 10% lowest paid property managers in Guam earned an average of $34,890; the 10% highest paid earned an average of $119,330.
Guam property management employment is expected to grow 16.7% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Guam grew 20.0%.

Hawaii Property Management Industry

Property management industry revenue in Hawaii totals $657.4 million in 2024.

Hawaii’s property management industry employs 4,168 in 2024.
1,450 Hawaii businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Hawaii property manager made $70,380 in 2023.
With 1,830 property managers in 2023, Hawaii’s industry payroll totaled $128.8 million.
Property managers made $5,338 more than the average Hawaii worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Hawaii made $8,020 less in 2023.
In 2023, the 10% lowest paid property managers in Hawaii earned an average of $37,200; the 10% highest paid earned an average of $110,930.

Idaho Property Management Industry

Property management industry revenue in Idaho totals $413.8 million in 2024.

Idaho’s property management industry will employ 2,670 workers by 2025; by 2032, the market should support 4,430.
1,870 Idaho businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Idaho property manager made $60,960 in 2023.
With 2,670 employed in 2023, Idaho’s property management payroll totaled $162.8 million.
Property managers made $5,320 more than the average Idaho worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Idaho made $17,440 less in 2023.
In 2023, the 10% lowest paid property managers in Idaho earned an average of $31,860; the 10% highest paid earned an average of $105,250.
Idaho property management employment is expected to remain stable between 2023 and 2025.
Between 2022 and 2023, property management company employment in Idaho declined 29.6%.

Illinois Property Management Industry

Property management industry revenue in Illinois totals $4.300 billion in 2024.

Illinois’ property management industry supports up to 27,271 total workers (including part-time, contract, etc.) in 2024.
3,960 Illinois businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Illinois property manager made $81,310 in 2023.
With 12,550 employed in 2023, Illinois’s property management payroll totaled $1.020 billion.
Property managers made $14,188 more than the average Illinois worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Illinois made $2,910 more in 2023.
In 2023, the 10% lowest paid property managers in Illinois earned an average of $38,300; the 10% highest paid earned an average of $137,490.

Indiana Property Management Industry

Property management industry revenue in Indiana totals $2.0 billion in 2024.

Indiana’s property management industry will employ 7,330 workers by 2025; by 2032, the market should support 7,530.
4,098 Indiana businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Indiana property manager made $67,830 in 2023.
With 7,220 employed in 2023, Indiana’s property management payroll totaled $489.7 million.
Property managers made $11,420 more than the average Indiana worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Indiana made $10,570 less in 2023.
In 2023, the 10% lowest paid property managers in Indiana earned an average of $38,230; the 10% highest paid earned an average of $105,130.
Indiana property management employment is expected to grow 1.52% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Indiana declined 0.41%.

Iowa Property Management Industry

Property management industry revenue in Iowa totals $383.4 million in 2024.

Iowa’s property management industry will employ 2,580 workers by 2025; by 2032, the market should support 2,870.
1,772 Iowa businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Iowa property manager made $55,740 in 2023.
With 2,570 employed in 2023, Iowa’s property management payroll totaled $143.3 million.
Property managers made $670 less than the average Iowa worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Iowa made $22,660 less in 2023.
In 2023, the 10% lowest paid property managers in Iowa earned an average of $38,570; the 10% highest paid earned an average of $75,900.
Iowa property management employment is expected to grow 0.39% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Iowa declined 1.53%.

Kansas Property Management Industry

Property management industry revenue in Kansas totals $678.2 million in 2024.

Kansas’ property management industry will employ 4,130 workers by 2025; by 2032, the market should support 4,220.
2,708 Kansas businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Kansas property manager made $59,970 in 2023.
With 4,030 employed in 2023, Kansas’s property management payroll totaled $241.7 million.
Property managers made $3,706 more than the average Kansas worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Kansas made $18,430 less in 2023.
In 2023, the 10% lowest paid property managers in Kansas earned an average of $28,230; the 10% highest paid earned an average of $100,980.
Kansas property management employment is expected to grow 2.48% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Kansas grew 0.75%.

Kentucky Property Management Industry

Property management industry revenue in Kentucky totals $762.9 million in 2024.

Kentucky’s property management industry will employ 4,720 workers by 2025; by 2032, the market should support 4,580.
2,198 Kentucky businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Kentucky property manager made $53,810 in 2023.
With 4,570 employed in 2023, Kentucky’s property management payroll totaled $245.9 million.
Property managers made $208 less than the average Kentucky worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Kentucky made $24,590 less in 2023.
In 2023, the 10% lowest paid property managers in Kentucky earned an average of $30,110; the 10% highest paid earned an average of $78,260.
Kentucky property management employment is expected to grow 3.28% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Kentucky declined 3.39%.

Louisiana Property Management Industry

Property management industry revenue in Louisiana totals $595.3 million in 2024.

Louisiana’s property management industry will employ 5,720 workers by 2025; by 2032, the market should support 5,940.
3,140 Louisiana businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Louisiana property manager made $59,600 in 2023.
With 5,650 employed in 2023, Louisiana’s property management payroll totaled $336.7 million.
Property managers made $6,165 more than the average Louisiana worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Louisiana made $18,800 less in 2023.
In 2023, the 10% lowest paid property managers in Louisiana earned an average of $28,680; the 10% highest paid earned an average of $92,090.
Louisiana property management employment is expected to grow 1.24% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Louisiana declined 0.53%.

Maine Property Management Industry

Property management industry revenue in Maine totals $407.4 million in 2024.

Maine’s property management industry will employ 1,350 workers by 2025; by 2032, the market should support 1,380.
1,427 Maine businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Maine property manager made $61,400 in 2023.
With 1,330 employed in 2023, Maine’s property management payroll totaled $81.662 million.
Property managers made $1,392 more than the average Maine worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Maine made $17,000 less in 2023.
In 2023, the 10% lowest paid property managers in Maine earned an average of $39,280; the 10% highest paid earned an average of $90,010.
Maine property management employment is expected to grow 1.50% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Maine declined 3.62%.

Maryland Property Management Industry

Property management industry revenue in Maryland totals $2.900 billion in 2024.

Maryland’s property management industry will employ 10,690 workers by 2025; by 2032, the market should support 9,940.
6,755 Maryland businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Maryland property manager made $89,890 in 2023.
With 10,440 employed in 2023, Maryland’s property management payroll totaled $938.45 million.
Property managers made $16,258 more than the average Maryland worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Maryland made $11,490 more in 2023.
In 2023, the 10% lowest paid property managers in Maryland earned an average of $43,110; the 10% highest paid earned an average of $154,010.
Maryland property management employment is expected to grow 2.39% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Maryland grew 12.9%.

Massachusetts’ Property Management Industry

Property management industry revenue in Massachusetts totals $4.700 billion in 2024.

Massachusetts’ property management industry supports up to 26,479 total workers (including part-time, contract, etc.) in 2024.
7,400 Massachusetts businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Massachusetts property manager made $96,160 in 2023.
With 5,410 employed in 2023, Massachusetts’s property management payroll totaled $520.226 million.
Property managers made $15,830 more than the average Massachusetts worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Massachusetts made $17,760 more in 2023.
In 2023, the 10% lowest paid property managers in Massachusetts earned an average of $54,660; the 10% highest paid earned an average of $143,470.
Massachusetts property management employment is expected to grow 3.27% between 2023 and 2025.

Michigan Property Management Industry

Property management industry revenue in Michigan totals $2.500 billion in 2024.

Michigan’s property management industry will employ 8,150 workers by 2025; by 2032, the market should support 10,250.
5,111 Michigan businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Michigan property manager made $66,670 in 2023.
With 8,160 employed in 2023, Michigan’s property management payroll totaled $544.0 million.
Property managers made $6,080 more than the average Michigan worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Michigan made $11,730 less in 2023.
In 2023, the 10% lowest paid property managers in Michigan earned an average of $38,350; the 10% highest paid earned an average of $102,190.
Michigan property management employment is expected to decline 0.12% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Michigan declined 17.3%.

Minnesota Property Management Industry

Property management industry revenue in Minnesota totals $1.500 billion in 2024.

Minnesota’s property management industry will employ 6,780 workers by 2025; by 2032, the market should support 9,210.
4,518 Minnesota businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Minnesota property manager made $73,740 in 2023.
With 6,660 employed in 2023, Minnesota’s property management payroll totaled $491.1 million.
Property managers made $7,034 more than the average Minnesota worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Minnesota made $4,660 less in 2023.
In 2023, the 10% lowest paid property managers in Minnesota earned an average of $45,200; the 10% highest paid earned an average of $103,950.
Minnesota property management employment is expected to grow 1.80% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Minnesota declined up to 24.8%.

Mississippi Property Management Industry

Property management industry revenue in Mississippi totaled $159.0 million in 2022.

Mississippi’s property management industry will employ 3,060 workers by 2025; by 2032, the market should support 3,270.
264 Mississippi businesses offer property management services as of 2022.
The average Mississippi property manager made $52,260 in 2023.
With 3,060 employed in 2023, Mississippi’s property management payroll totaled $159.9 million.
Property managers made $4,690 more than the average Mississippi worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Mississippi made $26,140 less in 2023.
In 2023, the 10% lowest paid property managers in Mississippi earned an average of $28,390; the 10% highest paid earned an average of $89,740.
Mississippi property management employment is expected to remain stable between 2023 and 2025.
Between 2022 and 2023, property management company employment in Mississippi grew 0.33%.

Missouri Property Management Industry

Property management industry revenue in Missouri totals $1.700 billion in 2024.

Missouri’s property management industry will employ 6,290 workers by 2025; by 2032, the market should support 8,620.
4,482 Missouri businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Missouri property manager made $59,290 in 2023.
With 6,270 employed in 2023, Missouri’s property management payroll totaled $371.7 million.
Property managers made $1,716 more than the average Missouri worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Missouri made $19,110 less in 2023.
In 2023, the 10% lowest paid property managers in Missouri earned an average of $32,460; the 10% highest paid earned an average of $84,770.
Missouri property management employment is expected to grow 0.32% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Missouri declined 17.1%.

Montana Property Management Industry

Property management industry revenue in Montana totaled $126.1 million in 2022.

Montana’s property management industry will employ 1,440 workers by 2025; by 2032, the market should support 1,530.
249 Montana businesses offer property management services as of 2022.
The average Montana property manager made $51,520 in 2023.
With 1,390 employed in 2023, Montana’s property management payroll totaled $71.613 million.
Property managers made $4,390 less than the average Montana worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Montana made $26,880 less in 2023.
In 2023, the 10% lowest paid property managers in Montana earned an average of $34,870; the 10% highest paid earned an average of $76,690.
Montana property management employment is expected to grow 3.60% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Montana grew 1.46%.

Nebraska Property Management Industry

Property management industry revenue in Nebraska totals $496.1 million in 2024.

Nebraska’s property management industry will employ 2,140 workers by 2025; by 2032, the market should support 2,250.
1,277 Nebraska businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Nebraska property manager made $66,430 in 2023.
With 2,090 employed in 2023, Nebraska’s property management payroll totaled $138.8 million.
Property managers made $8,356 more than the average Nebraska worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Nebraska made $11,970 less in 2023.
In 2023, the 10% lowest paid property managers in Nebraska earned an average of $37,010; the 10% highest paid earned an average of $100,330.
Nebraska property management employment is expected to grow 2.39% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Nebraska remained stable.

Nevada Property Management Industry

Property management industry revenue in Nevada totals $1.50 billion in 2024.

Nevada’s property management industry will employ 5,670 workers by 2025; by 2032, the market should support 7,530.
3,250 Nevada businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Nevada property manager made $68,060 in 2023.
With 5,820 employed in 2023, Nevada’s property management payroll totaled $396.1 million.
Property managers made $9,154 more than the average Nevada worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Nevada made $10,340 less in 2023.
In 2023, the 10% lowest paid property managers in Nevada earned an average of $35,750; the 10% highest paid earned an average of $99,820.
Nevada property management employment is expected to decline 2.58% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Nevada declined 9.77%.

New Hampshire Property Management Industry

Property management industry revenue in New Hampshire totaled $325.2 million in 2022.

New Hampshire’s property management industry will employ 1,310 workers by 2025; by 2032, the market should support 1,370.
218 New Hampshire businesses offer property management services as of 2022.
The average New Hampshire property manager made $72,360 in 2023.
With 1,280 employed in 2023, New Hampshire’s property management payroll totaled $92.621 million.
Property managers made $6,258 more than the average New Hampshire worker in 2023.
Compared to the nationwide average wage in their industry, property managers in New Hampshire made $6,040 less in 2023.
In 2023, the 10% lowest paid property managers in New Hampshire earned an average of $40,210; the 10% highest paid earned an average of $109,500.
New Hampshire property management employment is expected to grow 2.34% between 2023 and 2025.
Between 2022 and 2023, property management company employment in New Hampshire grew 2.40%.

New Jersey Property Management Industry

Property management industry revenue in New Jersey totals $3.0 billion in 2024.

New Jersey’s property management industry will employ 9,500 workers by 2025; by 2032, the market should support 9,240.
8,373 New Jersey businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average New Jersey property manager made $88,260 in 2023.
With 9,240 employed in 2023, New Jersey’s property management payroll totaled $815.5 million.
Property managers made $14,274 more than the average New Jersey worker in 2023.
Compared to the nationwide average wage in their industry, property managers in New Jersey made $9,860 more in 2023.
In 2023, the 10% lowest paid property managers in New Jersey earned an average of $47,030; the 10% highest paid earned an average of $148,900.
New Jersey property management employment is expected to grow 2.81% between 2023 and 2025.
Between 2022 and 2023, property management company employment in New Jersey grew 1.76%.

New Mexico Property Management Industry

Property management industry revenue in New Mexico totals $250.2 million in 2024.

New Mexico’s property management industry will employ 1,990 workers by 2025; by 2032, the market should support 2,140.
307 New Mexico businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average New Mexico property manager made $69,250 in 2023.
With 2,000 employed in 2023, New Mexico’s property management payroll totaled $138.5 million.
Property managers made $11,738 more than the average New Mexico worker in 2023.
Compared to the nationwide average wage in their industry, property managers in New Mexico made $9,150 less in 2023.
In 2023, the 10% lowest paid property managers in New Mexico earned an average of $36,920; the 10% highest paid earned an average of $99,970.
New Mexico property management employment is expected to decline 0.50% between 2023 and 2025.
Between 2022 and 2023, property management company employment in New Mexico grew 1.52%.

New York Property Management Industry

Property management industry revenue in New York totals $15.40 billion in 2024.

New York’s property management industry will employ 18,560 workers by 2032.
There are up to 33,044 property management businesses (including self-employed and sole proprietors) registered in New York as of 2024.
5,473 New York establishments offered property management services in 2022.
The average New York property manager made $116,050 in 2023.
Property managers made $37,426 more than the average New York worker in 2023.
Compared to the nationwide average wage in their industry, property managers in New York made $37,650 more in 2023.
In 2023, the 10% lowest paid property managers in New York earned an average of $56,760; the 10% highest paid earned an average of $187,420.

North Carolina Property Management Industry

Property management industry revenue in North Carolina totals $3.30 billion in 2024.

North Carolina’s property management industry employs up to 24,862 workers in some capacity.
10,820 North Carolina businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average North Carolina property manager made $88,870 in 2023.
With 7,890 employed in 2023, North Carolina’s property management payroll totaled $701.184 million.
Property managers made $29,153 more than the average North Carolina worker in 2023.
Compared to the nationwide average wage in their industry, property managers in North Carolina made $10,470 more in 2023.
In 2023, the 10% lowest paid property managers in North Carolina earned an average of $37,380; the 10% highest paid earned an average of $160,730.

North Dakota Property Management Industry

Property management industry revenue in North Dakota totals $144.3 million in 2024.

North Dakota’s property management industry will employ 1,000 workers by 2025; by 2032, the market should support 1,020.
822 North Dakota businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average North Dakota property manager made $65,690 in 2023.
With 960 employed in 2023, North Dakota’s property management payroll totaled $63.062 million.
Property managers made $6,639 more than the average North Dakota worker in 2023.
Compared to the nationwide average wage in their industry, property managers in North Dakota made $12,710 less in 2023.
In 2023, the 10% lowest paid property managers in North Dakota earned an average of $36,190; the 10% highest paid earned an average of $105,960.
North Dakota property management employment is expected to grow 4.17% between 2023 and 2025.
Between 2022 and 2023, property management company employment in North Dakota grew 3.23%.

Ohio Property Management Industry

Property management industry revenue in Ohio totals $4.10 billion in 2024.

Ohio’s property management industry will employ 13,610 workers by 2025; by 2032, the market should support 14,070.
8,525 Ohio businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Ohio property manager made $61,470 in 2023.
With 13,450 employed in 2023, Ohio’s property management payroll totaled $826.8 million.
Property managers made $1,587 more than the average Ohio worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Ohio made $16,930 less in 2023.
In 2023, the 10% lowest paid property managers in Ohio earned an average of $34,450; the 10% highest paid earned an average of $102,840.
Ohio property management employment is expected to grow 1.19% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Ohio declined 2.32%.

Oklahoma Property Management Industry

Property management industry revenue in Oklahoma totals $542.8 million in 2024.

Oklahoma’s property management industry will employ 4,300 workers by 2025; by 2032, the market should support 3,770.
3,236 Oklahoma businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Oklahoma property manager made $72,240 in 2023.
With 4,270 employed in 2023, Oklahoma’s property management payroll totaled $308.46 million.
Property managers made $18,784 more than the average Oklahoma worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Oklahoma made $6,160 less in 2023.
In 2023, the 10% lowest paid property managers in Oklahoma earned an average of $31,270; the 10% highest paid earned an average of $126,880.
Oklahoma property management employment is expected to grow 0.70% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Oklahoma grew 21.0%.

Oregon Property Management Industry

Property management industry revenue in Oregon totals $1.50 billion in 2024.

Oregon’s property management industry will employ 3,950 workers by 2025; by 2032, the market should support 4,230.
5,406 Oregon businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Oregon property manager made $72,320 in 2023.
With 3,890 employed in 2023, Oregon’s property management payroll totaled $281.3 million.
Property managers made $5,614 more than the average Oregon worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Oregon made $6,080 less in 2023.
In 2023, the 10% lowest paid property managers in Oregon earned an average of $47,390; the 10% highest paid earned an average of $105,510.
Oregon property management employment is expected to grow 1.54% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Oregon declined 2.26%.

Pennsylvania Property Management Industry

Property management industry revenue in Pennsylvania totals $3.0 billion in 2024.

Pennsylvania’s property management industry will employ 6,990 workers by 2025; by 2032, the market should support 6,460.
1,323 Pennsylvania businesses offered property management services in 2022.
The average Pennsylvania property manager made $74,220 in 2023.
With 6,830 employed in 2023, Pennsylvania’s property management payroll totaled $506.9 million.
Property managers made $12,298 more than the average Pennsylvania worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Pennsylvania made $4,180 less in 2023.
In 2023, the 10% lowest paid property managers in Pennsylvania earned an average of $43,430; the 10% highest paid earned an average of $122,190.
Pennsylvania property management employment is expected to grow 2.34% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Pennsylvania grew 11.6%.

Puerto Rico Property Management Industry

The property management industry in Puerto Rico employs fewer per capita than all U.S. states, including D.C.

The average Puerto Rico property manager made $70,400 in 2023.
With 2,350 employed in 2023, Puerto Rico’s property management payroll totaled $165.4 million.
Property managers made $36,288 more than the average Puerto Rico worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Puerto Rico made $8,000 less in 2023.
In 2023, the 10% lowest paid property managers in Puerto Rico earned an average of $32,030; the 10% highest paid earned an average of $115,060.
Puerto Rico property management employment is expected to grow 2.55% between 2023 and 2025.

Rhode Island Property Management Industry

Property management industry revenue in Rhode Island totals $326.1 million in 2024.

Rhode Island’s property management industry will employ 1,130 workers by 2025; by 2032, the market should support 1,480.
998 Rhode Island businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Rhode Island property manager made $93,710 in 2023.
With 1,110 employed in 2023, Rhode Island’s property management payroll totaled $104.0 million.
Property managers made $27,108 more than the average Rhode Island worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Rhode Island made $15,310 in 2023.
In 2023, the 10% lowest paid property managers in Rhode Island earned an average of $60,670; the 10% highest paid earned an average of $131,630.
Rhode Island property management employment is expected to grow 1.80% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Rhode Island declined 17.2%.

South Carolina Property Management Industry

Property management industry revenue in South Carolina totals $1.50 billion in 2024.

South Carolina’s property management industry will employ 6,590 workers by 2025; by 2032, the market should support 7,360.
4,306 South Carolina businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average South Carolina property manager made $67,190 in 2023.
With 6,330 employed in 2023, South Carolina’s property management payroll totaled $425.3 million.
Property managers made $12,944 more than the average South Carolina worker in 2023.
Compared to the nationwide average wage in their industry, property managers in South Carolina made $11,210 less in 2023.
In 2023, the 10% lowest paid property managers in South Carolina earned an average of $37,590; the 10% highest paid earned an average of $112,080.
South Carolina property management employment is expected to grow 4.11% between 2023 and 2025.
Between 2022 and 2023, property management company employment in South Carolina declined 0.31%.

South Dakota Property Management Industry

Property management industry revenue in South Dakota totals $130.6 million in 2024.

South Dakota’s property management industry will employ 1,550 workers by 2025; by 2032, the market should support 1,810.
662 South Dakota businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average South Dakota property manager made $51,620 in 2023.
With 1,500 employed in 2023, South Dakota’s property management payroll totaled $77.430 million.
Property managers made $1,607 less than the average South Dakota worker in 2023.
Compared to the nationwide average wage in their industry, property managers in South Dakota made $26,780 less in 2023.
In 2023, the 10% lowest paid property managers in South Dakota earned an average of $37,330; the 10% highest paid earned an average of $69,910.
South Dakota property management employment is expected to grow 3.33% between 2023 and 2025.
Between 2022 and 2023, property management company employment in South Dakota declined 9.64%.

Tennessee Property Management Industry

Property management industry revenue in Tennessee totals $1.60 billion in 2024.

Tennessee’s property management industry will employ 7,410 workers by 2025; by 2032, the market should support 10,140.
5,271 Tennessee businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Tennessee property manager made $66,660 in 2023.
With 6,580 employed in 2023, Tennessee’s property management payroll totaled $438.6 million.
Property managers made $10,625 more than the average Tennessee worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Tennessee made $11,740 less in 2023.
In 2023, the 10% lowest paid property managers in Tennessee earned an average of $34,460; the 10% highest paid earned an average of $107,580.
Tennessee property management employment is expected to grow 12.6% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Tennessee declined 13.9%.

Texas’ Property Management Industry

Property management industry revenue in Texas totals $9.40 billion in 2024.

Texas’s property management industry will employ 50,210 workers by 2025; by 2032, the market should support 51,570.
25,565 Texas businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Texas property manager made $76,240 in 2023.
With 47,540 employed in 2023, Texas’s property management payroll totaled $3.627 billion.
Property managers made $15,005 more than the average Texas worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Texas made $2,160 less in 2023.
In 2023, the 10% lowest paid property managers in Texas earned an average of $35,170; the 10% highest paid earned an average of $142,530.
Texas property management employment is expected to grow 5.55% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Texas grew 10.6%.

Utah Property Management Industry

Property management industry revenue in Utah totals $1.30 billion in 2024.

Utah’s property management industry will employ 4,980 workers by 2025; by 2032, the market should support 5,410.
3,783 Utah businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Utah property manager made $70,850 in 2023.
With 4,740 employed in 2023, Utah’s property management payroll totaled $335.8 million.
Property managers made $9,781 more than the average Utah worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Utah made $7,550 less in 2023.
In 2023, the 10% lowest paid property managers in Utah earned an average of $30,400; the 10% highest paid earned an average of $122,730.
Utah property management employment is expected to grow 5.06% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Utah grew 7.73%.

Vermont Property Management Industry

Property management industry revenue in Vermont totals $132.1 million in 2024.

Vermont’s property management industry will employ 940 workers by 2025; by 2032, the market should support 990.
692 Vermont businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Vermont property manager made $74,800 in 2023.
With 920 employed in 2023, Vermont’s property management payroll totaled $68.816 million.
Property managers made $12,026 more than the average Vermont worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Vermont made $3,600 less in 2023.
In 2023, the 10% lowest paid property managers in Vermont earned an average of $44,430; the 10% highest paid earned an average of $110,600.
Vermont property management employment is expected to grow 2.17% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Vermont grew 2.22%.

Virgin Islands’ Property Management Industry

Property management industry wages in the Virgin Islands were well below the national average for 2023.

The Virgin Islands’ property management industry will employ 80 workers by 2025; by 2032, the market should support 70.
The average Virgin Islands property manager made $53,350 in 2023.
With 80 employed in 2023, the Virgin Islands’s property management payroll totaled $4.268 million.
Property managers made $2,723 more than the average Virgin Islands worker in 2023.
Compared to the nationwide average wage in their industry, property managers in the Virgin Islands made $25,050 less in 2023.
In 2023, the 10% lowest paid property managers in the Virgin Islands earned an average of $29,990; the 10% highest paid earned an average of $96,450.
Virgin Islands property management employment is expected to remain stable between 2023 and 2025.

Virginia Property Management Industry

Property management industry revenue in Virginia totals $3.20 billion in 2024.

Virginia’s property management industry will employ 5,560 workers by 2025; by 2032, the market should support 5,610.
7,797 Virginia businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Virginia property manager made $90,760 in 2023.
With 5,470 employed in 2023, Virginia’s property management payroll totaled $496.46 million.
Property managers made $20,706 more than the average Virginia worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Virginia made $12,360 more in 2023.
In 2023, the 10% lowest paid property managers in Virginia earned an average of $48,180; the 10% highest paid earned an average of $150,080.
Virginia property management employment is expected to grow 1.65% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Virginia grew 0.55%.

Washington Property Management Industry

Property management industry revenue in Washington totals $2.60 billion in 2024.

Washington’s property management industry will employ 5,670 workers by 2025; by 2032, the market should support 6,000.
9,591 property management businesses are registered in Washington as of 2024.
The average Washington property manager made $118,360 in 2023.
With 5,340 employed in 2023, Washington’s property management payroll totaled $632.0 million.
Property managers made $40,235 more than the average Washington worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Washington made $39,960 more in 2023.
In 2023, the 10% lowest paid property managers in Washington earned an average of $77,430; the 10% highest paid earned an average of $169,380.
Washington property management employment is expected to grow 6.18% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Washington grew 3.89%.

West Virginia Property Management Industry

Property management industry revenue in West Virginia totals $88.80 million in 2024.

West Virginia’s property management industry will employ 2,170 workers by 2025; by 2032, the market should support 2,240.
566 West Virginia businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average West Virginia property manager made $60,170 in 2023.
Property managers made $7,962 more than the average West Virginia worker in 2023.
Compared to the nationwide average wage in their industry, property managers in West Virginia made $18,230 less in 2023.
In 2023, the 10% lowest paid property managers in West Virginia earned an average of $28,450; the 10% highest paid earned an average of $115,580.
West Virginia property management employment is expected to grow 0.46% between 2023 and 2025.
Between 2022 and 2023, property management company employment in West Virginia grew 0.93%.

Wisconsin Property Management Industry

Property management industry revenue in Wisconsin totals $813.3 million in 2024.

Wisconsin’s property management industry will employ 2,790 workers by 2025; by 2032, the market should support 2,910.
3,522 property management businesses are registered in Wisconsin as of 2024.
The average Wisconsin property manager made $74,690 in 2023.
With 2,700 employed in 2023, Wisconsin’s property management payroll totaled $201.7 million.
Property managers made $15,181 more than the average Wisconsin worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Wisconsin made $3,710 less in 2023.
In 2023, the 10% lowest paid property managers in Wisconsin earned an average of $47,230; the 10% highest paid earned an average of $106,550.
Wisconsin property management employment is expected to grow 3.33% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Wisconsin grew 3.45%.

Wyoming Property Management Industry

Property management industry revenue in Wyoming totals $98.60 million in 2024.

Wyoming’s property management industry will employ 900 workers by 2025; by 2032, the market should support 940.
617 Wyoming businesses offer property management services as of 2024 (including self-employed and sole proprietors).
The average Wyoming property manager made $71,370 in 2023.
With 890 employed in 2023, Wyoming’s property management payroll totaled $63.52 million.
Property managers made $13,442 more than the average Wyoming worker in 2023.
Compared to the nationwide average wage in their industry, property managers in Wyoming made $7,030 less in 2023.
In 2023, the 10% lowest paid property managers in Wyoming earned an average of $33,390; the 10% highest paid earned an average of $136,970.
Wyoming property management employment is expected to grow 1.12% between 2023 and 2025.
Between 2022 and 2023, property management company employment in Wyoming grew 1.14%.

Analysis: Industry Predictions

Industry experts urge property managers and owners to invest in new technology and consolidation in order to stay competitive.

Cloud services, artificial intelligence, and integrated devices make it easier to stay connected to tenants, vendors. More tenants demand high-tech options, like free Wi-Fi in all rental units or smart home systems for renters. Younger tenants especially want the convenience of connectivity from their landlords/property managers.

Among surveyed property managers, however, just 11.2% say technology is a top priority. Companies new to the industry are focusing on technology from the outset. Those few early adopters will have an advantage over competitors not only in terms of attracting renters but also in terms of attracting business partners.

For these organizations just entering property management, and for smaller companies seeking to access a larger market share, acquisition and/or consolidation of existing companies is typically preferable to starting from scratch. Existing businesses have already been tested, proving they can satisfy clients.

Industry professionals point out that larger operations are made more manageable by investments in technology. Many predict business plans that include these goals will be the most profitable in the foreseeable future.

Property Management Industry Statistics