GITNUXREPORT 2026

Property Management Statistics

The property management industry is a large and evolving sector with diverse rental properties and opportunities.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

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Statistic 1

U.S. multifamily cap rate averaged 5.4% in 2023.

Statistic 2

Average ROI for rental properties: 8-12% annually.

Statistic 3

Cash-on-cash return for multifamily: 7.5% average.

Statistic 4

U.S. real estate investment trusts (REITs) yield 4.2%.

Statistic 5

Property appreciation rate: 5.1% YoY for rentals.

Statistic 6

Internal rate of return (IRR) for value-add deals: 15-20%.

Statistic 7

Average holding period for managed properties: 7 years.

Statistic 8

NOI growth for apartments: 3.8% in 2023.

Statistic 9

Commercial property total returns: 6.9% in 2023.

Statistic 10

Single-family rental IRR: 9.2% average.

Statistic 11

Debt service coverage ratio (DSCR): 1.35x typical.

Statistic 12

Equity multiple for core investments: 1.6x over 5 years.

Statistic 13

Vacation rental ROI: 12% average gross yield.

Statistic 14

Office investment returns fell to 2.1% in 2023.

Statistic 15

Industrial property yields: 5.8% cap rate.

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Retail REIT dividend yield: 5.5%.

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Student housing total returns: 9.4% annualized.

Statistic 18

Average property management fees represent 8-12% of gross rents.

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The U.S. property management industry manages over 50 million rental units.

Statistic 20

Global property management software market size was valued at $3.2 billion in 2022.

Statistic 21

Number of property management companies in the U.S. exceeds 300,000.

Statistic 22

Property management services market projected to reach $42.8 billion by 2030.

Statistic 23

U.S. multifamily properties under management grew by 2.5% in 2023.

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Commercial property management market in Europe valued at €150 billion in 2022.

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Residential property management accounts for 65% of the total market.

Statistic 26

Asia-Pacific property management market to grow at 8.2% CAGR through 2028.

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U.S. single-family rental market size reached $50 billion in 2023.

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Over 40 million Americans live in managed rental properties.

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Property management industry employs over 1 million people in the U.S.

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Market for proptech in property management hit $1.5 billion in 2023.

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Canadian property management market valued at CAD 10 billion in 2022.

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U.K. property management sector manages 5.5 million homes.

Statistic 33

Australian residential property management oversees 2.7 million properties.

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Global vacation rental management market at $5.8 billion in 2023.

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U.S. student housing under management totals 2.1 million beds.

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Senior housing properties managed: over 30,000 in U.S.

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Industrial property management market grew 4.1% YoY in 2023.

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Retail property management portfolio size: $1.2 trillion globally.

Statistic 39

U.S. multifamily maintenance costs averaged $800 per unit annually.

Statistic 40

Average turnover cost per apartment: $2,500.

Statistic 41

Property management operating expenses rose 5.2% in 2023.

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HVAC maintenance accounts for 25% of total costs.

Statistic 43

Average utilities expense per multifamily unit: $1,200/year.

Statistic 44

Marketing and leasing costs: 6% of collected rent.

Statistic 45

Insurance premiums increased 15% for properties in 2023.

Statistic 46

Janitorial services cost $1.50 per sq ft annually.

Statistic 47

Elevator maintenance: $15,000 per unit per year.

Statistic 48

Pest control expenses: $300 per unit annually.

Statistic 49

Landscaping costs averaged $0.75 per sq ft.

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Security systems installation: $5,000 per property average.

Statistic 51

Legal fees for evictions: $3,500 average case.

Statistic 52

Energy efficiency upgrades save 20% on utilities.

Statistic 53

Average rent collection rate: 96% monthly.

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Maintenance response time target: under 24 hours.

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35% of maintenance requests are tenant-caused.

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Average age of multifamily properties: 25 years.

Statistic 57

U.S. average multifamily vacancy rate was 6.8% in Q4 2023.

Statistic 58

National apartment rent growth slowed to 1.2% YoY in 2023.

Statistic 59

U.S. single-family home vacancy rate at 0.9% in 2023.

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Median U.S. apartment rent reached $1,700 in 2023.

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Vacancy rate for Class A apartments: 5.2% nationally.

Statistic 62

Rent growth in Sun Belt markets averaged 3.5% in 2023.

Statistic 63

U.S. office vacancy rate hit 19.6% in Q4 2023.

Statistic 64

Average industrial vacancy rate: 5.1% in 2023.

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Retail vacancy stabilized at 5.3% nationally.

Statistic 66

Short-term rental occupancy averaged 52% in 2023.

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New York City apartment vacancy rate: 2.4% in 2023.

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San Francisco rent declined 2.1% YoY amid high vacancy.

Statistic 69

Average U.S. lease renewal rate: 55% in multifamily.

Statistic 70

Suburban apartment vacancy: 7.1% vs urban 6.4%.

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Student housing vacancy averaged 4.2% post-pandemic.

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Senior living occupancy reached 83% in 2023.

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70% of property managers use software for tenant screening.

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AI adoption in maintenance scheduling: 45%.

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Contactless payments used by 82% of managers.

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Smart home devices in 30% of managed units.

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Virtual tours implemented by 65% of firms.

Statistic 78

IoT sensors for leak detection: 25% adoption.

Statistic 79

Cloud-based PMS market share: 70%.

Statistic 80

Blockchain for lease agreements: 5% usage.

Statistic 81

Predictive analytics for turnover: 40%.

Statistic 82

Mobile apps for rent payment: 75% tenants use.

Statistic 83

ESG reporting software: 35% adoption.

Statistic 84

Drone inspections for roofs: 15%.

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55% use automated tenant screening.

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VR property tours: 20% market penetration.

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Big data for rent pricing: 50%.

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Cybersecurity incidents rose 22% in 2023.

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68% of managers report tech ROI within 1 year.

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42% of renters are millennials aged 25-34.

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Median tenant income for apartments: $55,000.

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36% of U.S. households rent their home.

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Average tenant age: 38 years old.

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25% of renters have pets.

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Female-headed renter households: 52%.

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Gen Z renters grew 15% since 2020.

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Average household size in rentals: 2.3 people.

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18% of renters are seniors over 65.

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Black households renter rate: 54%.

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Hispanic renters: 28% of total.

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Average length of tenancy: 24 months.

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60% of renters prefer urban locations.

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Dual-income renter households: 62%.

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Students comprise 12% of renters.

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Remote workers among renters: 35%.

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Behind the 50 million rental doors managed across the U.S. lies an industry at a multi-billion dollar scale, where every statistic from soaring software investments to shifting vacancy rates tells a story of complexity and opportunity.

Key Takeaways

The U.S. property management industry manages over 50 million rental units.
Global property management software market size was valued at $3.2 billion in 2022.
Number of property management companies in the U.S. exceeds 300,000.
U.S. average multifamily vacancy rate was 6.8% in Q4 2023.
National apartment rent growth slowed to 1.2% YoY in 2023.
U.S. single-family home vacancy rate at 0.9% in 2023.
U.S. multifamily cap rate averaged 5.4% in 2023.
Average ROI for rental properties: 8-12% annually.
Cash-on-cash return for multifamily: 7.5% average.
U.S. multifamily maintenance costs averaged $800 per unit annually.
Average turnover cost per apartment: $2,500.
Property management operating expenses rose 5.2% in 2023.
42% of renters are millennials aged 25-34.
Median tenant income for apartments: $55,000.
36% of U.S. households rent their home.

The property management industry is a large and evolving sector with diverse rental properties and opportunities.

Investment and ROI

U.S. multifamily cap rate averaged 5.4% in 2023.
Average ROI for rental properties: 8-12% annually.
Cash-on-cash return for multifamily: 7.5% average.
U.S. real estate investment trusts (REITs) yield 4.2%.
Property appreciation rate: 5.1% YoY for rentals.
Internal rate of return (IRR) for value-add deals: 15-20%.
Average holding period for managed properties: 7 years.
NOI growth for apartments: 3.8% in 2023.
Commercial property total returns: 6.9% in 2023.
Single-family rental IRR: 9.2% average.
Debt service coverage ratio (DSCR): 1.35x typical.
Equity multiple for core investments: 1.6x over 5 years.
Vacation rental ROI: 12% average gross yield.
Office investment returns fell to 2.1% in 2023.
Industrial property yields: 5.8% cap rate.
Retail REIT dividend yield: 5.5%.
Student housing total returns: 9.4% annualized.
Average property management fees represent 8-12% of gross rents.

Investment and ROI Interpretation

While the property management fees might nibble away at your returns like a persistent mouse, the data shows that a well-chosen, actively managed multifamily property is still a formidable cheese-producing mouse-trap, offering a robust blend of cash flow, appreciation, and leverage that handily outpaces the anemic returns of many passive investments.

Market Size and Growth

The U.S. property management industry manages over 50 million rental units.
Global property management software market size was valued at $3.2 billion in 2022.
Number of property management companies in the U.S. exceeds 300,000.
Property management services market projected to reach $42.8 billion by 2030.
U.S. multifamily properties under management grew by 2.5% in 2023.
Commercial property management market in Europe valued at €150 billion in 2022.
Residential property management accounts for 65% of the total market.
Asia-Pacific property management market to grow at 8.2% CAGR through 2028.
U.S. single-family rental market size reached $50 billion in 2023.
Over 40 million Americans live in managed rental properties.
Property management industry employs over 1 million people in the U.S.
Market for proptech in property management hit $1.5 billion in 2023.
Canadian property management market valued at CAD 10 billion in 2022.
U.K. property management sector manages 5.5 million homes.
Australian residential property management oversees 2.7 million properties.
Global vacation rental management market at $5.8 billion in 2023.
U.S. student housing under management totals 2.1 million beds.
Senior housing properties managed: over 30,000 in U.S.
Industrial property management market grew 4.1% YoY in 2023.
Retail property management portfolio size: $1.2 trillion globally.

Market Size and Growth Interpretation

The industry is a sprawling, multi-trillion-dollar beast, quietly managing the roofs over 40 million American heads while evolving into a tech-driven landlord for the entire planet.

Operations and Costs

U.S. multifamily maintenance costs averaged $800 per unit annually.
Average turnover cost per apartment: $2,500.
Property management operating expenses rose 5.2% in 2023.
HVAC maintenance accounts for 25% of total costs.
Average utilities expense per multifamily unit: $1,200/year.
Marketing and leasing costs: 6% of collected rent.
Insurance premiums increased 15% for properties in 2023.
Janitorial services cost $1.50 per sq ft annually.
Elevator maintenance: $15,000 per unit per year.
Pest control expenses: $300 per unit annually.
Landscaping costs averaged $0.75 per sq ft.
Security systems installation: $5,000 per property average.
Legal fees for evictions: $3,500 average case.
Energy efficiency upgrades save 20% on utilities.
Average rent collection rate: 96% monthly.
Maintenance response time target: under 24 hours.
35% of maintenance requests are tenant-caused.
Average age of multifamily properties: 25 years.

Operations and Costs Interpretation

It's a property manager's lament that while keeping an aging unit humming costs nearly as much as a tenant's monthly rent, the real price of occupancy is the $2,500 farewell gift you pay when they leave, a costly reminder that preventative care for both HVAC and tenant relations is the only true path to profit.

Rental Rates and Vacancy

U.S. average multifamily vacancy rate was 6.8% in Q4 2023.
National apartment rent growth slowed to 1.2% YoY in 2023.
U.S. single-family home vacancy rate at 0.9% in 2023.
Median U.S. apartment rent reached $1,700 in 2023.
Vacancy rate for Class A apartments: 5.2% nationally.
Rent growth in Sun Belt markets averaged 3.5% in 2023.
U.S. office vacancy rate hit 19.6% in Q4 2023.
Average industrial vacancy rate: 5.1% in 2023.
Retail vacancy stabilized at 5.3% nationally.
Short-term rental occupancy averaged 52% in 2023.
New York City apartment vacancy rate: 2.4% in 2023.
San Francisco rent declined 2.1% YoY amid high vacancy.
Average U.S. lease renewal rate: 55% in multifamily.
Suburban apartment vacancy: 7.1% vs urban 6.4%.
Student housing vacancy averaged 4.2% post-pandemic.
Senior living occupancy reached 83% in 2023.

Rental Rates and Vacancy Interpretation

The property market tells a tale of two extremes: while everyone's fighting for a single-family home or a New York apartment, your average office building is so empty you could hold a echoey concert in it, yet rents somehow still keep creeping up everywhere except for San Francisco, which is finally getting a taste of reality.

Technology and Innovation

70% of property managers use software for tenant screening.
AI adoption in maintenance scheduling: 45%.
Contactless payments used by 82% of managers.
Smart home devices in 30% of managed units.
Virtual tours implemented by 65% of firms.
IoT sensors for leak detection: 25% adoption.
Cloud-based PMS market share: 70%.
Blockchain for lease agreements: 5% usage.
Predictive analytics for turnover: 40%.
Mobile apps for rent payment: 75% tenants use.
ESG reporting software: 35% adoption.
Drone inspections for roofs: 15%.
55% use automated tenant screening.
VR property tours: 20% market penetration.
Big data for rent pricing: 50%.
Cybersecurity incidents rose 22% in 2023.
68% of managers report tech ROI within 1 year.

Technology and Innovation Interpretation

Today’s property manager is a digital orchestrator who screens tenants with algorithms, fights leaks with sensors, and races to keep cybersecurity threats at bay—all while betting on tech paying off within a year.

Tenant Demographics

42% of renters are millennials aged 25-34.
Median tenant income for apartments: $55,000.
36% of U.S. households rent their home.
Average tenant age: 38 years old.
25% of renters have pets.
Female-headed renter households: 52%.
Gen Z renters grew 15% since 2020.
Average household size in rentals: 2.3 people.
18% of renters are seniors over 65.
Black households renter rate: 54%.
Hispanic renters: 28% of total.
Average length of tenancy: 24 months.
60% of renters prefer urban locations.
Dual-income renter households: 62%.
Students comprise 12% of renters.
Remote workers among renters: 35%.

Tenant Demographics Interpretation

Today's property manager must be a polymath, equally prepared to woo a millennial with a pet-friendly policy, accommodate a remote worker's need for a Zoom room, and respectfully assist a senior on a fixed income, all while remembering that the 'average renter' is a statistical fiction dancing between a student, a dual-income couple, and a growing Gen Z cohort.