Property Management Statistics 2024 - Everything You Need to Know

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Best Property Management Statistics

Best Property Management Statistics

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Property Management Market Statistics

This market value increased7.78%over 12 months. ^[0]
That’s 35.95% of the global market, which is valued at $13.88 billion. ^[0]
North America’s market value grew 7.78% from 2019 to 2020. ^[0]
39% of the national industry market share ultimately goes to the property managers themselves. ^[0]
This is a 6.6% greater market share than the global average, which is 36.6%. ^[0]
The total market size for renters is 34%. ^[0]
In 2018, the resident retention rate in the largest 50 US markets was52.5%– up .8% from 2017. ^[1]
At61.9%, Milwaukee and Newark/Jersey City had the highest resident retention rates of all large US markets in 2018. ^[1]
At46.3%, Salt Lake City and San Antonio had the worst resident retention rates of all large US markets in 2018. ^[1]
According to ParcelPending, Millennials represent40%of the total housing marketing, with90%of all Millennials being renters. ^[1]
According to the U.S. Census Bureau’s 2015 Rental Housing Finance Survey, individual investors made up the largest percentage of the housing market. ^[2]
The report shows that on average, monthly fair market rent on a 3bedroom property requires 38.6 percent of an average salary, while a monthly house payment on a median priced home requires 36.6 percent. ^[2]
According to Zillow research, the median U.S. rent takes 29.1 percent of the typical household income and renters in 34 of the nation’s 35 largest markets spend a larger share of income on rent now than they did historically. ^[2]
Revenue is expected to show an annual growth rate of 7.2%, resulting in a market volume of $18,517M by 2024. ^[3]
According to Pew/Policy Advice, the total share of the U.S. renting market is nearly 37%, the highest it’s been in over 50 years. ^[4]
While occupancy levels declined by 0.30% compared to the 2nd quarter, occupancy in the single family rental market is still operating at or near full occupancy. ^[4]

Property Management Software Statistics

– Vacation Rental Managers spend an average of 10% of revenue on commissions to booking platforms . ^[5]

Property Management Latest Statistics

Real estate generates16%of the national gross domestic product. ^[0]
The industry’s average annual growth rate for the last 5 years has been 2.5%. ^[0]
Since December 2003, the producer price index among real estate property managers nationwide has increased 20.0% for an annual growth rate of 1.143%. ^[0]
That’s 59.95% of all working property managers. ^[0]
The lowest paid 10% earn $31,330 per year while the highest paid earn $134,570 per year. ^[0]
Industry experts expect a compound annual growth rate of 9.3%. ^[0]
Since December 2003, the industry’s PPI has increased 33.3% for an annual growth rate of 1.903%. ^[0]
Since December 1995, the PPI for residential property management services has risen 39.2% for an annual growth rate of 1.537%. ^[0]
81% of property managers have seen their revenues increase over in the past two years. ^[0]
5% of managers saw a decrease in revenue. ^[0]
88% of survey respondents expected their revenues to go up in the next two years. ^[0]
That’s 31.2% of all residential rental units in. ^[0]
80% of property managers are involved in the coordination or performance of maintenance/repairs as well as rent and fee collections. ^[0]
More than 70% of property managers perform property inspections, advertise vacancies, and facilitate leases. ^[0]
47.8% of property managers consider growth a top priority. ^[0]
45.1% express a desire to improve efficiency. ^[0]
31.0% of property managers cite profitability as a top concern. ^[0]
Between 2009 and 2020, the national rental vacancy rate decreased by 85%. ^[0]
The current nationwide rental vacancy rate is 6%. ^[0]
If trends from the last decade continue, the vacancy rate should drop below 4 percent by 2025. ^[0]
42 percent of all U.S. renters live in single. ^[0]
Between 20 and 43 percent of renters cannot afford to buy a home or unit where they live. ^[0]
In one decade, the number of renters increased by 25%. ^[0]
During that same period, the number of homeowners decreased by just over 1%. ^[0]
Wisconsin has fewer property managers per capita than any other state, about 30% of the national average. ^[0]
Puerto Rico has less than 5% the national per capita average. ^[0]
This is 26.3% below the national average wage for property managers. ^[0]
Property managers make 15.03% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $25,900. ^[0]
The 10% highest paid earn $88,670. ^[0]
This is 0.23% below the national average wage for property managers. ^[0]
Property managers make 12.75% more than the average worker statewide. ^[0]
This is 14.59% below the national average wage for property managers. ^[0]
Property managers make 27.74% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $31,900. ^[0]
The 10% highest paid earn $101,750. ^[0]
This is 23,25% below the national average wage for property managers. ^[0]
Property managers make 19.28% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $26,530. ^[0]
The 10% highest paid earn $87,600. ^[0]
This is 2.98% above the national average wage for property managers. ^[0]
Property managers make 5.47% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $29,290. ^[0]
This is 29.39% above the national average wage for property managers. ^[0]
Property managers make 49.13% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $43,210. ^[0]
The 10% highest paid earn $169,030. ^[0]
This is 13.66% above the national average wage for property managers. ^[0]
Property managers make 4.31% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $46,880. ^[0]
The 10% highest paid earn $147,950. ^[0]
This is 15.41% below the national average wage for property managers. ^[0]
Property managers make 9.09% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $37,110. ^[0]
The 10% highest paid earn $96,420. ^[0]
This is 23.22% above the national average wage for property managers. ^[0]
Property managers make 3.61% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $46,420. ^[0]
The 10% highest paid earn $155,610. ^[0]
This is 14.83% below the national average wage for property managers. ^[0]
Property managers make 23.22% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $32,040. ^[0]
The 10% highest paid earn $96,600. ^[0]
This is 16.91% below the national average wage for property managers. ^[0]
Property managers make 18.89% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $27,980. ^[0]
The 10% highest paid earn $114,220. ^[0]
This is 8.35% below the national average wage for property managers. ^[0]
Property managers make 10.49% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $37,630. ^[0]
The 10% highest paid earn $106,090. ^[0]
This is 44.45% below the national average wage for property managers. ^[0]
Property managers make 16.34% less than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $17,620. ^[0]
The 10% highest paid earn $71,560. ^[0]
This is 10.31% above the national average wage for property managers. ^[0]
Property managers make 28.24% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $35,830. ^[0]
The 10% highest paid earn $138,000. ^[0]
This is 26.21% below the national average wage for property managers. ^[0]
Property managers make 5.22% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $29,360. ^[0]
The 10% highest paid earn $83,560. ^[0]
This is 20.02% below the national average wage for property managers. ^[0]
Property managers make 6.03% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $32,900. ^[0]
The 10% highest paid earn $95,390. ^[0]
This is 27.52% below the national average wage for property managers. ^[0]
Property managers make 5.37% less than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $25,430. ^[0]
The 10% highest paid earn $85,620. ^[0]
This is 22.13% below the national average wage for property managers. ^[0]
Property managers make 22.58% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $27,930. ^[0]
The 10% highest paid earn $88,210. ^[0]
This is 29.71% below the national average wage for property managers. ^[0]
Property managers make 2.84% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $18,950. ^[0]
The 10% highest paid earn $90,130. ^[0]
This is 16.01% below the national average wage for property managers. ^[0]
Property managers make 13.40% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $35,320. ^[0]
The 10% highest paid earn $95,780. ^[0]
This is 5.74% above the national average wage for property managers. ^[0]
Property managers make 13.41% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $37,040. ^[0]
The 10% highest paid earn $128,950. ^[0]
This is 23.58% above the national average wage for property managers. ^[0]
Property managers make 13.48% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $50,180. ^[0]
The 10% highest paid earn $139,920. ^[0]
This is 9.82% below the national average wage for property managers. ^[0]
Property managers make 24.60% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $33,650. ^[0]
The 10% highest paid earn $105,290. ^[0]
This is 1.87% above the national average wage for property managers. ^[0]
Property managers make 21.19% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $42,600. ^[0]
The 10% highest paid earn $123,780. ^[0]
This is 40.34% below the national average wage for property managers. ^[0]
Property managers make 4.64% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $18,850. ^[0]
The 10% highest paid earn $70,660. ^[0]
This is 8.40% below the national average wage for property managers. ^[0]
Property managers make 31.04% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $29,850. ^[0]
The 10% highest paid earn $132,480. ^[0]
This is 35.91% below the national average wage for property managers. ^[0]
Property managers make 12.02% less than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $20,040. ^[0]
The 10% highest paid earn $78,730. ^[0]
This is 12.98% below the national average wage for property managers. ^[0]
Property managers make 9.95% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $19,930. ^[0]
The 10% highest paid earn $105,690. ^[0]
This is 26.20% below the national average wage for property managers. ^[0]
Property managers make 0.74% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $36,730. ^[0]
The 10% highest paid earn $74,330. ^[0]
This is 2.83% below the national average wage for property managers. ^[0]
Property managers make 7.11% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $40,220. ^[0]
The 10% highest paid earn $107,370. ^[0]
This is 30.36% above the national average wage for property managers. ^[0]
Property managers make 26.84% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $46,670. ^[0]
The 10% highest paid earn $193,420. ^[0]
This is 22.48% below the national average wage for property managers. ^[0]
Property managers make 23.90% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $26,720. ^[0]
The 10% highest paid earn $84,350. ^[0]
This is 58.00% above the national average wage for property managers. ^[0]
Property managers make 53.11% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $62,280. ^[0]
The 10% highest paid earn $196,410. ^[0]
This is 4.66% below the national average wage for property managers. ^[0]
Property managers make 39.36% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $36,200. ^[0]
The 10% highest paid earn $114,560. ^[0]
This is 23.73% below the national average wage for property managers. ^[0]
Property managers make 5.97% less than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $35,760. ^[0]
The 10% highest paid earn $83,220. ^[0]
This is 11.67% below the national average wage for property managers. ^[0]
Property managers make 21.34% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $23,140. ^[0]
The 10% highest paid earn $122,910. ^[0]
This is 21.57% above the national average wage for property managers. ^[0]
Property managers make 80.71% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $28,740. ^[0]
The 10% highest paid earn $180,870. ^[0]
This is 23.58% below the national average wage for property managers. ^[0]
Property managers make 1.44% less than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $31,870. ^[0]
The 10% highest paid earn $91,270. ^[0]
This is 25.39% above the national average wage for property managers. ^[0]
Property managers make 47.59% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $40,630. ^[0]
The 10% highest paid earn $190,740. ^[0]
This is 22.65% above the national average wage for property managers. ^[0]
The 10% lowest paid property managers earn an average of $32,540. ^[0]
The 10% highest paid earn $140,320. ^[0]
This is 25.91% above the national average wage for property managers. ^[0]
Property managers make 51.52% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $52,880. ^[0]
The 10% highest paid earn $132,800. ^[0]
This is 0.82% below the national average wage for property managers. ^[0]
Property managers make 52.86% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $27,480. ^[0]
The 10% highest paid earn $128,490. ^[0]
This is 40.35% below the national average wage for property managers. ^[0]
Property managers make 23.75% less than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $27,570. ^[0]
The 10% highest paid earn $62,440. ^[0]
This is 18.86% below the national average wage for property managers. ^[0]
Property managers make 17.51% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $26.760. ^[0]
The 10% highest paid earn $105,310. ^[0]
This is 18.11% above the national average wage for property managers. ^[0]
Property managers make 57.67% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $32,860. ^[0]
The 10% highest paid earn $168,310. ^[0]
This is 25.64% below the national average wage for property managers. ^[0]
Property managers make 4.19% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $25,680. ^[0]
The 10% highest paid earn $96,340. ^[0]
This is 11.19% below the national average wage for property managers. ^[0]
Property managers make 10.86% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $28,200. ^[0]
The 10% highest paid earn $107,910. ^[0]
This is 21.85% below the national average wage for property managers. ^[0]
The 10% lowest paid property managers earn an average of $27,840. ^[0]
The 10% highest paid earn $83,500. ^[0]
This is 27.06% above the national average wage for property managers. ^[0]
Property managers make 49.16% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $47,930. ^[0]
The 10% highest paid earn $145,580. ^[0]
This is 27.74% above the national average wage for property managers. ^[0]
Property managers make 36.88% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $45,940. ^[0]
The 10% highest paid earn $158,220. ^[0]
This is 23.86% below the national average wage for property managers. ^[0]
Property managers make 23.57% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $23,070. ^[0]
The 10% highest paid earn $110,720. ^[0]
This is 0.12% above the national average wage for property managers. ^[0]
Property managers make 32.10% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $39,260. ^[0]
The 10% highest paid earn $125,790. ^[0]
This is 7.39% below the national average wage for property managers. ^[0]
Property managers make 7.17% more than the average worker statewide. ^[0]
The 10% lowest paid property managers earn an average of $24,850. ^[0]
The 10% highest paid earn $129,360. ^[0]
Among surveyed property managers, however, just 11.2% say technology is a top priority. ^[0]
80%of property managers are tasked with managing or performing building maintenance on top of collecting rent. ^[1]
%, the majority of property managers manage communities of 101. ^[1]
%, the least common type of property manager is those who manage communities of more than 500 units. ^[1]
56%of property managers own the building they’re managing. ^[1]
52%of property management companies make less than $249,000 in annual revenue. ^[1]
Only13%of property management companies make more than $1 million in annual revenue. ^[1]
Property managers say efficiency (at32%) an maintenance (at31%). ^[1]
69%of property managers reported portfolio growth in 2019, down from each of the previous three years. ^[1]
There are an estimated291,978property management companies in the US in 2020. ^[1]
90.3%of Millennial respondents said they would or would consider paying higher rent for better amenities or proptech. ^[1]
87.2%of multifamily residents say amenities significantly impact their decision to sign or renew a lease. ^[1]
93.6%of multifamily residents said that would or would consider paying higher rent for improved onsite amenities. ^[1]
The most common types of amenities found in multifamily communities are fitness & wellness amenities at19.5%of all properties. ^[1]
The most common specific amenity found in multifamily properties is bike storage rooms, at60%of all communities. ^[1]
of53.3%, up from52.5%of renters in 2019. ^[1]
Before COVID 19, apartment retention rates had reached58.5%. ^[1]
The current rental vacancy rate in the US is6%. ^[1]
Reducing resident turnover by5%improves operating income for property management companies by an average of $15,000. ^[1]
The average renewal rate for those resigning leases has been1.6%since June, a favorable number for renters due to the economic downturn from COVID. ^[1]
While the majority of renters sign a 12 month lease (61%). ^[1]
47%of renters who moved in 2018 already planned to move in the following year. ^[1]
52%of renters in 2018 had regrets about signing a lease because they were unable to customize or improve the property. ^[1]
In December 2020,89%of renters made their rent payment – meaning over 1 in 10 renters were not able to make rent. ^[1]
44 millionhomes (36%). ^[1]
In 2019,66%of US counties saw the cost of renting increase. ^[1]
Over50%of renters spend30%or more of their income on rent. ^[1]
From 2017 to 2019, new multifamily property construction projects increase by21%. ^[1]
The fastest growing renting segment of the population is households over 60, which grew by43%last year from 6.5 million to 9.4 million. ^[1]
Since COVID 19, San Francisco has seen the biggest drop in rent growth, down24.5%since March 2020 – from $3,200 down to $2,300. ^[1]
Since COVID 19, Boise has seen the biggest rise in rent growth, up9.1%since March 2020 – from $3,200 down to $2,300. ^[1]
Suburban cities have seen a slight increase in rent prices since COVID. ^[1]
As boundaries between the physical and digital world are blurred, expectations for instant, personalized customer service have skyrocketed — 59% of respondents in a recent survey said they have higher expectations for customer service than last year. ^[6]
Although nearly 70% of property managers believe that a service oriented culture would have a positive impact on their business, only 38% of those surveyed are prepared to take steps to make it a reality. ^[6]
This is a major problem, since 79% of renters who consult these sites say that negative reviews have stopped them from visiting a property during their apartment search. ^[6]
For example, 84% of property managers believe they communicate effectively with their residents — something that only 38% of residents agree with. ^[6]
Or that nearly 60% of consumers surveyed said they’re willing to switch to a brand that offers a superior customer service experience. ^[6]
Since more than 70% of consumers share good experiences when they have them, making the investment in a service oriented business model can generate more than just happy residents — it can spark great word of mouth as well. ^[6]
In 2017 a well know SEO specialist made a case study researching more than 2 million pages and found out that only 6% of them are qualified for worthy and being ranked on the first page of Google. ^[7]
In other words, almost 94% of these pages are not getting even a single visitor from the search engines and that’s mostly because the content they provide is not with the needed amount of quality and length. ^[7]
The number 1 result in Google search results has an average Click Through Rate of 31.7%. ^[7]
40% of leads are influenced by a relevant organic search. ^[7]
310,894 poll Average Industry Profit Margin x.x% Purchase this report or a membership to unlock the average company profit margin for this industry. ^[8]
Managing trash and recycling collection Property accounting Legally representing property owners Finding and screening tenancy applicants Coordinating repair contractors 00.5% increase 0. ^[8]
5.64 millionexisting homeswere sold in 2020, according to data from the National Association of REALTORS®. ^[9]
822,000newly constructedhomes were sold in 2020, according to the U.S. Census Bureau. ^[9]
There are approximately 119.7 million occupied housing units in the United States, according to the2018 American Community Survey. ^[9]
According to the2021 Profile of Home Buyers and Sellers, the typical home seller has been in their home for 8 years. ^[9]
In 2019, 64.9% of families owned their primary residence, according to the Federal Reserve’sSurvey of Consumer Finances. ^[9]
Monthly Membership Report and NAR Membership Statistics, 1908 present 68% percent of REALTORS® are licensed as sales agents, 20% hold broker licenses, and 13% hold broker associate licenses. ^[9]
65% of all REALTORS® are female, and the median age of all REALTORS® is 52. ^[9]
29%Bachelor’s degree 32%Graduate degree and above. ^[9]
13%Associate degree 13%Some graduate school 6%High. ^[9]
® affiliation with firmsIndependent contractor 88%Employee. ^[9]
® most often prefer to communicate with their clients through text messaging, at 93%. ^[9]
Ninety percent preferred to communicate via telephone, and 89% through e. ^[9]
70% of broker/broker associates and 69% of sales agents have a website. ^[9]
81% of members have their own listings on their website, 69% have information about buying and selling, and 66% have a link to their firm’s website. ^[9]
74% of REALTORS® use Facebook and 56% use LinkedIn for professional purposes. ^[9]
20% of all members get 15% of their business from social media, and 10% get 6. ^[9]
Of the members that use drones in their real estate business of office, 36% hire a professional, 14% have someone in their office that uses drones, and 6% personally use drones. ^[9]
34%Median age of firsttime buyers 33Median age of repeat buyers 56Median household income of first time buyers $86,500Median household income of repeat buyers $112,500. ^[9]
Among those who financed their home purchase, buyers typically financed 87% of the home price. ^[9]
87% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69% in 2001. ^[9]
Buyers who would use their agent again or recommend their agent to others 75%. ^[9]
Internet 51%Real estate agent 28%Yard sign/open house sign 4%Friend, relative, or neighbor 6%Home builder or their agent. ^[9]
from sellers/Knew the sellers 3%Print newspaper advertisement 1% Source 2021 National Association of REALTORS® Profile of Home Buyers and Sellers. ^[9]
90% of sellers were assisted by a real estate agent when selling their home. ^[9]
Recent sellers typically sold their homes for 100% of the listing price, and 35% reported reducing the asking price at least once. ^[9]
68% of sellers who used a real estate agent found their agents through a referral by friends or family, and 53% used the agent they previously worked with to buy or sell a home. ^[9]
Sellers who definitely would use same agent again 90% Source 2021 National Association of REALTORS® Profile of Home Buyers and Sellers. ^[9]
FSBOs accounted for 7% of home sales in 2020. ^[9]
34%Yard sign 26%Friends, relatives, or neighbors. ^[9]
18%Social networking websites. ^[9]
Tours 3%Forsaleby owner websites 2%Print newspaper advertisement. ^[9]
The number of people employed in the Property Management industry in the US increased 1.8% on average over the five years between 2017 and 2024. ^[10]
Property Management Industry is one of the fastest growing industries in the US, with an annual growth rate of 2.5% for the past 5 years. ^[11]
These intelligent chatbots can automatically answer renter emails, increasing your team’s operational efficiency by saving 75% of your leasing team’s time. ^[11]
However, 41% of Millennials prefer 3D tours of the property for a high. ^[11]
But the coming decade expects exponential growth in the Gen Z population by 6%. ^[11]
Mobile friendly Websites Almost 80% of owners and renters use cellphones for their web searches. ^[11]
Despite a 3% increase in rent nationally, more than 80% of renters plan to rent rather than own a house in 2021. ^[11]
24% of Gen Z renters plan on renewing their current lease, whereas the remaining 19% are worried due to financial insecurity and economic instability. ^[11]
Moreover, 23% of Millennial renters plan to renew their lease, and only 17% are planning on buying a home in 2021. ^[11]
Why spend five times more money finding new tenants when you can retain the old ones who are 70% more likely to stay?. ^[11]
Comparing the average renter ResidentScore year over year, we noted scores declined by 14 points, or 2%. ^[2]
Sacramento, California continues to experience the highest rent growth with an increase of 9.3 percent. ^[2]
On the state level, Idaho experienced the fastest annual growth at 4.9 percent. ^[2]
The Pew Research Center’s analysis of U.S. Census Bureau data shows that more U.S. households are renting than at any point in 50 years, with 36.6 percent of households renting their home. ^[2]
was in 1965, with a rate of 37 percent. ^[2]
The recent numbers include groups that have been traditionally less likely to rent, such as adults aged 45 to 64. ^[2]
Around 65 percent of renters do so due to financial reasons, while 32 percent rent as a matter of choice. ^[2]
TransUnion SmartMove data shows that in 2016 2017, 28 percent of SmartMove applicants had a criminal hit on their record. ^[2]
However, multi family properties only had a criminal hit rate of 21 percent. ^[2]
Zillow reported that the median U.S. rent accounts for 29.1% of a typical household income, up from 25.8% in 2000. ^[2]
According to a recent report by FC Tucker, inventory in February shrunk by a whopping 22% in Central Indiana when compared to February of 2017. ^[12]
Average sales price, as you might guess, also increased during that same time by more than 5%. ^[12]
1bedroom vacation rentals in the 50th percentile earn about $38,490 per year, while a 3 bedroom brings in $98,688. ^[3]
34% of investors purchased vacation home properties in a suburb or subdivision, 24% in a small town and 19% in an urban area or central city. ^[3]
33% of buyers purchased in a beach area, 21% purchased on a lake front, and 15% purchased a vacation home in the country. ^[3]
According to a Hawaii Tourism Authority report, 15% of visitors would not have gone to Hawaii if there hadn’t been the option to stay in alternative accommodations, such as vacation rentals. ^[3]
Research showed that the percentage of longer stays has doubled since 2019. ^[3]
85% of vacation rental companies and hoteliers surveyed said that automation was a priority. ^[3]
Currently 82% of vacation rental property managers plan to implement keyless technology. ^[3]
Operto found that 34% of property managers were planning to invest 11 25% more than currently on tech. ^[3]
52% of property managers have diversified their revenue channels over the past year, and 91% are interested in listing on another OTA. ^[3]
(avantio.com 90% of European property managers said they’d made their cancellation policies more flexible. ^[3]
52% were even planning to offer free cancellation in 2021. ^[3]
According to a survey, 90% of property managers had noticed an increase in last. ^[3]
According to data from VRM Intel, direct bookings accounted for over 50% of bookings in 2020. ^[3]
The pandemic disrupted normal seasonality trends, and surprisingly, average rates actually grew slightly in 2020 by 4%. ^[3]
31.6% of property owners said they spent four or more hours creating their vacation rental listing. ^[3]
In the Vacation Rentals segment, 77% of total revenue will be generated through online sales by 2024. ^[3]
77.9% of homeowners admit that the only way they welcome guests to their property is with an email. ^[3]
57% of hosts say they provide a welcome basket or gift for their guests upon arrival. ^[3]
44% of hosts leave one roll of paper towels per guest, and 52% provide two or more. ^[3]
63% of hosts provide two towel sets per guest. ^[3]
While 32.5% provide one or one and a half. ^[3]
Over 75% of hosts use polyester filled pillows, the remainder use feather and other materials. ^[3]
41% of hosts get carpets professionally cleaned a minimum of twice per year, while 58% do this annually. ^[3]
42% of hosts will deep clean their BBQ grill twice per year, but just over ¼ only do this once. ^[3]
82% of hosts have a 5 star rating on listing sites like Airbnb and HomeAway. ^[3]
38% of property managers surveyed said they have got more bookings from family and large groups. ^[3]
57% of property managers said they noticed more bookings from guests intending to work during their stay. ^[3]
63% of homeowners reply to travelers within 60 minutes of receiving their inquiry. ^[3]
31% of travelers said spending quality time with family was their main motivation for travel. ^[3]
Studies in the US showed that 61% of families were more likely to visit an outdoorsy destination than an urban one. ^[3]
The popularity of countryside cabins increased by 25% and people sought to be near lakes and rivers. ^[3]
59% of US travelers said they were more likely to drive than fly to their next destination. ^[3]
(avantio.com A survey of guests who had booked flexcations found that 33% of guests have been able to book vacation rentals and work due to remote working polices. ^[3]
38% had booked flexcations to offer their children a new experience and break the monotony of staying at home. ^[3]
67% said they would be likely to do it again. ^[3]
Booking Tracker United States State Level % Change in New Vacation Rental Bookings. ^[5]
United States Market Level % Change in Vacation Rental Demand Urban vs. Suburban. ^[5]
In April 2021, U.S. shortterm rental occupancy hit an all time high of 61.6%. ^[5]
( AirDNA – 2024 rate contraction still means the average rate will be 7.5% higher than in 2019. ^[5]
( AirDNA – Total United States shortterm rental revenues will increase by 42% over the four. ^[5]
HomeAway – Vacation Rental Companies increase direct revenue 30% YoY when they upgrade to a modern, mobile friendly booking site like Lodgify HomeAway – 84% of Vacation Rental Companies include a printed guidebook within the property . ^[5]
Hostfully – In 2016, 52% of vacation rental bookings came within 30 days of check in . ^[5]
41.0% – 2020 Global # of Vacation Rentals Users 444.8 million. ^[5]
41.0% by Year – 2020. ^[5]
Total United States # of Vacation Rentals Users 35.2 million ( Statista United States Vacation Rental Penetration (% of Population Using Vacation Rentals). ^[5]
2020 United States Vacation Rentals Penetration Rate 10.6% by Year – 2020 United States Vacation Rental Average Revenue per User in 2020. ^[5]
In 2020 25% of United States Vacation Rental Bookings were offline vs. 75% online –. ^[5]
In 2020, 17% of vacation rental bookings were made by individuals 1824, 32% by ages 2534, 24% by ages 3544, 17% by ages 4554 and 10% by ages 55. ^[5]
Airbnb charges 020% service fee to guests and 3 5% transaction fee to hosts. ^[5]
Vrbo charges 6 12% service fee to guests and transactions fees of 8% or more to hosts. ^[5]
– TripAdvisor charges an 8 16% to guests and transaction fees of 3% to hosts. ^[5]
– Booking.com does not charge guests but charges hosts 10. ^[5]
– Expedia does not charge guests but charges hosts 15. ^[5]
Rental occupancy rates are nearing 100%, leases are being signed within hours, and rent increases are surging by double digits, creating the highest rent gains on record. ^[4]
The number of rental households grew by 25% since 2007. ^[4]
Landlords earn an annual income 44.8% higher than the median household income in the U.S. ^[4]
While households have a median income of $67,521, the median income of landlords is closer to $97,000 per year, according to Rent.com. ^[4]
About 66% of today’s landlords are college graduates, according to the tenant screening website SmartMove. ^[4]
People of all ages are also landlords, with 56% older than 35 years and 44% between the ages of 18. ^[4]
SmartMove also reports that landlords own or manage 3 rental units, with 31% of a landlord’s annual income coming from rental properties. ^[4]
Over 90% of average monthly rents collected are $3,000 or below, and 70% of rental properties owned have an average total value $400,000 or less. ^[4]
Real estate investors purchased 90,215 homes between July and September of this year, a 11.2% increase yearover year and the second largest increase in history. ^[4]
According to GlobeSt.com, investor home purchases accounted for $63.6 billion in sales in Q3 2021, compared to $58.5 billion in Q2 and $35.7 billion in the 3rd quarter of last year. ^[4]
Nearly 3 in 4 residential real estate sales in the 3rd quarter of this year were single family homes, an increase of over 70% compared to the same quarter last year. ^[4]
According to GlobeSt.com, nearly one third of all homes sold in Atlanta during the last quarter were purchased by investors, followed by Phoenix at 31.7%. ^[4]
Annual rent growth for detached rentals was 11.7% in August, compared with 6.4% for attached rentals such as a unit in a multifamily property with 2 4 units, or a townhouse or condo. ^[4]
According to the Q3 2021 SingleFamily Rental Investment Trends Report from Arbor, vacantto occupied rent growth was up 17.1% through July 2021, while rent increases on lease renewals reached a record 6.9% annualized rate in July. ^[4]
Arbor also reports that occupancy rates across all SFRs averaged 95% in the 3rd quarter of 2021, as measured by the U.S. Census Bureau. ^[4]
About 70% of Americans live in a single family home, making SFRs a popular choice for renters. ^[4]
According to research from Policy Advice and the National Real Estate investor, tenants stay an average of 3 years in an SFR, with stays of between 4 6 years not uncommon. ^[4]
The typical value of a middle price tier single family home has increased by 34% over the past 2 years and is forecast to increase by 13.6% over the next year. ^[4]
In Q2 2021, refinancing represented 75.9% of tracked mortgage originations, according to Arbor. ^[4]
Singlefamily loanto values are down to 65.5%, a sign that credit risk is declining and remains aligned with the favorable outlook of the SFR sector, according to Arbor. ^[4]
Mortgage delinquency rates are 6.38% in Q1 2021 versus 8.22% in Q2 2020, according to the most recent information from the FDIC, with high levels of liquidity and robust buyer demand limiting widespread distress. ^[4]
While the laws regulating tenant security deposits vary from state to state, 36.1% of landlords surveyed by Porch said they held back a security deposit collected from tenants. ^[4]
When it comes to property management, 44% of landlords own but don’t manage their property, while 45% are owner managers and 11% manage a property for someone else. ^[4]
Landlords who self manage a rental property handle 6 calls a year from tenants, while 13% say that they change lightbulbs for their tenants. ^[4]
No Leasing fee – 10% of Monthly Rent Collected – $295 Listing Fee –. ^[13]
Our only fee is 10% of the collected rent and $295 Listing fee. ^[13]
Percentage of rents paid on time 98.2% 98.4% 97.8%. ^[13]
Percentage of leases renewed 74% 76% 73%. ^[13]
For only 2% of the monthly rent, you can guarantee that in every instance where your tenant is legally obligated to pay rent, you will receive your full monthly rent, on time, every month for up to 3 months. ^[13]

I know you want to use Property Management Software, thus we made this list of best Property Management Software. We also wrote about how to learn Property Management Software and how to install Property Management Software. Recently we wrote how to uninstall Property Management Software for newbie users. Don’t forgot to check latest Property Management statistics of 2024.

Reference

ipropertymanagement – https://ipropertymanagement.com/research/property-management-industry-statistics.
2ndkitchen – https://2ndkitchen.com/apartments/property-management-statistics/.
mysmartmove – https://www.mysmartmove.com/SmartMove/blog/6-rental-statistics-landlords-need-know.page.
buildupbookings – https://www.buildupbookings.com/vacation-rental-statistics/.
roofstock – https://learn.roofstock.com/blog/rental-property-owner-statistics.
stayfi – https://stayfi.com/vrm-insider/2021/06/21/the-ultimate-list-of-vacation-rental-statistics-2020-edition/.
appfolio – https://www.appfolio.com/blog/customer-experience-gap/.
ngbmanagement – https://www.ngbmanagement.com/post/property-management-statistics-and-information.
ibisworld – https://www.ibisworld.com/united-states/market-research-reports/property-management-industry/.
nar – https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics.
ibisworld – https://www.ibisworld.com/industry-statistics/employment/property-management-united-states/.
lethub – https://www.lethub.co/blog/property-management-industry-trends-2021.
threaltyinc – https://www.threaltyinc.com/central-indiana-rental-market-update-1-2018/.
annapolispropertyservices – https://www.annapolispropertyservices.com/property-management-fees-and-statistics/.

How Useful is Property Management

One of the main benefits of property management is the expertise these companies bring to the table. They have specialized knowledge of local rental markets, property maintenance, and legal regulations that can be invaluable to property owners. By entrusting the day-to-day management of their properties to professionals, owners can avoid costly mistakes and ensure that their properties are well-maintained and profitable.

Property management companies also provide valuable services to tenants. They are responsible for managing rental agreements, collecting rent, and handling maintenance requests. This can make the rental process smoother and more efficient for tenants, who can rest assured that their needs will be taken care of in a timely and professional manner.

In addition to saving time and money, property management companies can also provide peace of mind to property owners. By handling the details of property management, such as screening tenants, negotiating leases, and enforcing property rules, owners can focus on other aspects of their lives or businesses. They can trust that their properties are in good hands and that any issues that arise will be handled promptly and effectively.

Another benefit of property management is the potential for increased rental income. Property managers can help owners set competitive rental rates, market their properties effectively, and attract and retain quality tenants. By maximizing rental income and minimizing vacancies, property management companies can help owners maximize the return on their investment.

Furthermore, property management companies can help owners navigate legal and regulatory challenges. Whether it’s understanding landlord-tenant laws, handling evictions, or complying with building codes, property managers have the knowledge and experience to ensure that owners stay in compliance with all relevant regulations. This can help owners avoid costly fines and legal battles that can arise from a lack of knowledge or understanding of the law.

Overall, property management is a valuable service for property owners, landlords, and investors alike. It can save time, money, and stress, while also providing expertise, peace of mind, and the potential for increased rental income. By entrusting their properties to professional property managers, owners can reap the benefits of expert management while focusing on other priorities in their lives and businesses.

In Conclusion

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We tried our best to provide all the Property Management statistics on this page. Please comment below and share your opinion if we missed any Property Management statistics.

Property Management Statistics 2024 – Everything You Need to Know