Real Estate Asset Management Statistics 2024 - Everything You Need to Know

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Best Real Estate Asset Management Statistics

Best Real Estate Asset Management Statistics

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Real Estate Asset Management Market Statistics

The market size of the Real Estate Asset Management & Consulting industry is expected to increase 2.1% in 2024. ^[0]
The market size of the Real Estate Asset Management & Consulting industry in the US has grown 3.1% per year on average between 2017 and 2024. ^[0]
This market value increased7.78%over 12 months. ^[1]
That’s 35.95% of the global market, which is valued at $13.88 billion. ^[1]
North America’s market value grew 7.78% from 2019 to 2020. ^[1]
39% of the national industry market share ultimately goes to the property managers themselves. ^[1]
This is a 6.6% greater market share than the global average, which is 36.6%. ^[1]
The total market size for renters is 34%. ^[1]
10 housing markets positioned for the highest price growth in 2024 include Providence, Salt Lake City, and Boise where home prices are predicted to grow by more than 7%. ^[2]
For the US overall, annualized rent growth on vacantto occupied SFRs surged by more than 17%, with suburban migration and a tight housing market creating upward pressure on rents. ^[2]
“Hidden gem” housing markets poised for major growth in 2024 include Salt Lake City, Boise, Spokane, and Indianapolis with combined sales and price growth rates of more than 20%. ^[2]
The US market for smart home products grew by 9.5% in the 3rd quarter of 2021, with devices such as home monitoring and security, smart speakers, lighting and smart thermostats seeing some of the greatest demand. ^[2]
Statistics reveals that as a demographic, Millennials are accounting for nearly 33% of the home sales in all major housing markets of the country. ^[3]
In 2018, the resident retention rate in the largest 50 US markets was52.5%– up .8% from 2017. ^[4]
At61.9%, Milwaukee and Newark/Jersey City had the highest resident retention rates of all large US markets in 2018. ^[4]
At46.3%, Salt Lake City and San Antonio had the worst resident retention rates of all large US markets in 2018. ^[4]
According to ParcelPending, Millennials represent40%of the total housing marketing, with90%of all Millennials being renters. ^[4]
The current state of our housing market is remarkable, even after our unemployment numbers rose above 12% in April and the U.S. economy contracted nearly 33% in the second quarter. ^[5]
The current state of our housing market is remarkable, even after our unemployment numbers rose above 12% in April and the U.S. economy contracted nearly 33% in the second quarter. ^[5]

Real Estate Asset Management Latest Statistics

Available to download in PNG, PDF, XLS format 33% off until Jun 30th. ^[6]
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. ^[7]
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. ^[7]
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. ^[7]
For example, 84% of property managers believe they communicate effectively with their residents — something that only 38% of residents agree with. ^[7]
Or that nearly 60% of consumers surveyed said they’re willing to switch to a brand that offers a superior customer service experience. ^[7]
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. ^[7]
Real estate generates16%of the national gross domestic product. ^[1]
The industry’s average annual growth rate for the last 5 years has been 2.5%. ^[1]
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%. ^[1]
That’s 59.95% of all working property managers. ^[1]
The lowest paid 10% earn $31,330 per year while the highest paid earn $134,570 per year. ^[1]
Industry experts expect a compound annual growth rate of 9.3%. ^[1]
Since December 2003, the industry’s PPI has increased 33.3% for an annual growth rate of 1.903%. ^[1]
Since December 1995, the PPI for residential property management services has risen 39.2% for an annual growth rate of 1.537%. ^[1]
81% of property managers have seen their revenues increase over in the past two years. ^[1]
5% of managers saw a decrease in revenue. ^[1]
88% of survey respondents expected their revenues to go up in the next two years. ^[1]
That’s 31.2% of all residential rental units in. ^[1]
80% of property managers are involved in the coordination or performance of maintenance/repairs as well as rent and fee collections. ^[1]
More than 70% of property managers perform property inspections, advertise vacancies, and facilitate leases. ^[1]
47.8% of property managers consider growth a top priority. ^[1]
45.1% express a desire to improve efficiency. ^[1]
31.0% of property managers cite profitability as a top concern. ^[1]
Between 2009 and 2020, the national rental vacancy rate decreased by 85%. ^[1]
The current nationwide rental vacancy rate is 6%. ^[1]
If trends from the last decade continue, the vacancy rate should drop below 4 percent by 2025. ^[1]
42 percent of all U.S. renters live in single. ^[1]
Between 20 and 43 percent of renters cannot afford to buy a home or unit where they live. ^[1]
In one decade, the number of renters increased by 25%. ^[1]
During that same period, the number of homeowners decreased by just over 1%. ^[1]
Wisconsin has fewer property managers per capita than any other state, about 30% of the national average. ^[1]
Puerto Rico has less than 5% the national per capita average. ^[1]
This is 26.3% below the national average wage for property managers. ^[1]
Property managers make 15.03% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $25,900. ^[1]
The 10% highest paid earn $88,670. ^[1]
This is 0.23% below the national average wage for property managers. ^[1]
Property managers make 12.75% more than the average worker statewide. ^[1]
This is 14.59% below the national average wage for property managers. ^[1]
Property managers make 27.74% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $31,900. ^[1]
The 10% highest paid earn $101,750. ^[1]
This is 23,25% below the national average wage for property managers. ^[1]
Property managers make 19.28% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $26,530. ^[1]
The 10% highest paid earn $87,600. ^[1]
This is 2.98% above the national average wage for property managers. ^[1]
Property managers make 5.47% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $29,290. ^[1]
This is 29.39% above the national average wage for property managers. ^[1]
Property managers make 49.13% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $43,210. ^[1]
The 10% highest paid earn $169,030. ^[1]
This is 13.66% above the national average wage for property managers. ^[1]
Property managers make 4.31% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $46,880. ^[1]
The 10% highest paid earn $147,950. ^[1]
This is 15.41% below the national average wage for property managers. ^[1]
Property managers make 9.09% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $37,110. ^[1]
The 10% highest paid earn $96,420. ^[1]
This is 23.22% above the national average wage for property managers. ^[1]
Property managers make 3.61% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $46,420. ^[1]
The 10% highest paid earn $155,610. ^[1]
This is 14.83% below the national average wage for property managers. ^[1]
Property managers make 23.22% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $32,040. ^[1]
The 10% highest paid earn $96,600. ^[1]
This is 16.91% below the national average wage for property managers. ^[1]
Property managers make 18.89% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $27,980. ^[1]
The 10% highest paid earn $114,220. ^[1]
This is 8.35% below the national average wage for property managers. ^[1]
Property managers make 10.49% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $37,630. ^[1]
The 10% highest paid earn $106,090. ^[1]
This is 44.45% below the national average wage for property managers. ^[1]
Property managers make 16.34% less than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $17,620. ^[1]
The 10% highest paid earn $71,560. ^[1]
This is 10.31% above the national average wage for property managers. ^[1]
Property managers make 28.24% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $35,830. ^[1]
The 10% highest paid earn $138,000. ^[1]
This is 26.21% below the national average wage for property managers. ^[1]
Property managers make 5.22% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $29,360. ^[1]
The 10% highest paid earn $83,560. ^[1]
This is 20.02% below the national average wage for property managers. ^[1]
Property managers make 6.03% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $32,900. ^[1]
The 10% highest paid earn $95,390. ^[1]
This is 27.52% below the national average wage for property managers. ^[1]
Property managers make 5.37% less than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $25,430. ^[1]
The 10% highest paid earn $85,620. ^[1]
This is 22.13% below the national average wage for property managers. ^[1]
Property managers make 22.58% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $27,930. ^[1]
The 10% highest paid earn $88,210. ^[1]
This is 29.71% below the national average wage for property managers. ^[1]
Property managers make 2.84% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $18,950. ^[1]
The 10% highest paid earn $90,130. ^[1]
This is 16.01% below the national average wage for property managers. ^[1]
Property managers make 13.40% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $35,320. ^[1]
The 10% highest paid earn $95,780. ^[1]
This is 5.74% above the national average wage for property managers. ^[1]
Property managers make 13.41% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $37,040. ^[1]
The 10% highest paid earn $128,950. ^[1]
This is 23.58% above the national average wage for property managers. ^[1]
Property managers make 13.48% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $50,180. ^[1]
The 10% highest paid earn $139,920. ^[1]
This is 9.82% below the national average wage for property managers. ^[1]
Property managers make 24.60% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $33,650. ^[1]
The 10% highest paid earn $105,290. ^[1]
This is 1.87% above the national average wage for property managers. ^[1]
Property managers make 21.19% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $42,600. ^[1]
The 10% highest paid earn $123,780. ^[1]
This is 40.34% below the national average wage for property managers. ^[1]
Property managers make 4.64% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $18,850. ^[1]
The 10% highest paid earn $70,660. ^[1]
This is 8.40% below the national average wage for property managers. ^[1]
Property managers make 31.04% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $29,850. ^[1]
The 10% highest paid earn $132,480. ^[1]
This is 35.91% below the national average wage for property managers. ^[1]
Property managers make 12.02% less than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $20,040. ^[1]
The 10% highest paid earn $78,730. ^[1]
This is 12.98% below the national average wage for property managers. ^[1]
Property managers make 9.95% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $19,930. ^[1]
The 10% highest paid earn $105,690. ^[1]
This is 26.20% below the national average wage for property managers. ^[1]
Property managers make 0.74% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $36,730. ^[1]
The 10% highest paid earn $74,330. ^[1]
This is 2.83% below the national average wage for property managers. ^[1]
Property managers make 7.11% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $40,220. ^[1]
The 10% highest paid earn $107,370. ^[1]
This is 30.36% above the national average wage for property managers. ^[1]
Property managers make 26.84% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $46,670. ^[1]
The 10% highest paid earn $193,420. ^[1]
This is 22.48% below the national average wage for property managers. ^[1]
Property managers make 23.90% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $26,720. ^[1]
The 10% highest paid earn $84,350. ^[1]
This is 58.00% above the national average wage for property managers. ^[1]
Property managers make 53.11% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $62,280. ^[1]
The 10% highest paid earn $196,410. ^[1]
This is 4.66% below the national average wage for property managers. ^[1]
Property managers make 39.36% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $36,200. ^[1]
The 10% highest paid earn $114,560. ^[1]
This is 23.73% below the national average wage for property managers. ^[1]
Property managers make 5.97% less than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $35,760. ^[1]
The 10% highest paid earn $83,220. ^[1]
This is 11.67% below the national average wage for property managers. ^[1]
Property managers make 21.34% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $23,140. ^[1]
The 10% highest paid earn $122,910. ^[1]
This is 21.57% above the national average wage for property managers. ^[1]
Property managers make 80.71% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $28,740. ^[1]
The 10% highest paid earn $180,870. ^[1]
This is 23.58% below the national average wage for property managers. ^[1]
Property managers make 1.44% less than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $31,870. ^[1]
The 10% highest paid earn $91,270. ^[1]
This is 25.39% above the national average wage for property managers. ^[1]
Property managers make 47.59% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $40,630. ^[1]
The 10% highest paid earn $190,740. ^[1]
This is 22.65% above the national average wage for property managers. ^[1]
The 10% lowest paid property managers earn an average of $32,540. ^[1]
The 10% highest paid earn $140,320. ^[1]
This is 25.91% above the national average wage for property managers. ^[1]
Property managers make 51.52% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $52,880. ^[1]
The 10% highest paid earn $132,800. ^[1]
This is 0.82% below the national average wage for property managers. ^[1]
Property managers make 52.86% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $27,480. ^[1]
The 10% highest paid earn $128,490. ^[1]
This is 40.35% below the national average wage for property managers. ^[1]
Property managers make 23.75% less than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $27,570. ^[1]
The 10% highest paid earn $62,440. ^[1]
This is 18.86% below the national average wage for property managers. ^[1]
Property managers make 17.51% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $26.760. ^[1]
The 10% highest paid earn $105,310. ^[1]
This is 18.11% above the national average wage for property managers. ^[1]
Property managers make 57.67% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $32,860. ^[1]
The 10% highest paid earn $168,310. ^[1]
This is 25.64% below the national average wage for property managers. ^[1]
Property managers make 4.19% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $25,680. ^[1]
The 10% highest paid earn $96,340. ^[1]
This is 11.19% below the national average wage for property managers. ^[1]
Property managers make 10.86% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $28,200. ^[1]
The 10% highest paid earn $107,910. ^[1]
This is 21.85% below the national average wage for property managers. ^[1]
The 10% lowest paid property managers earn an average of $27,840. ^[1]
The 10% highest paid earn $83,500. ^[1]
This is 27.06% above the national average wage for property managers. ^[1]
Property managers make 49.16% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $47,930. ^[1]
The 10% highest paid earn $145,580. ^[1]
This is 27.74% above the national average wage for property managers. ^[1]
Property managers make 36.88% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $45,940. ^[1]
The 10% highest paid earn $158,220. ^[1]
This is 23.86% below the national average wage for property managers. ^[1]
Property managers make 23.57% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $23,070. ^[1]
The 10% highest paid earn $110,720. ^[1]
This is 0.12% above the national average wage for property managers. ^[1]
Property managers make 32.10% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $39,260. ^[1]
The 10% highest paid earn $125,790. ^[1]
This is 7.39% below the national average wage for property managers. ^[1]
Property managers make 7.17% more than the average worker statewide. ^[1]
The 10% lowest paid property managers earn an average of $24,850. ^[1]
The 10% highest paid earn $129,360. ^[1]
Among surveyed property managers, however, just 11.2% say technology is a top priority. ^[1]
5.64 millionexisting homeswere sold in 2020, according to data from the National Association of REALTORS®. ^[8]
822,000newly constructedhomes were sold in 2020, according to the U.S. Census Bureau. ^[8]
There are approximately 119.7 million occupied housing units in the United States, according to the2018 American Community Survey. ^[8]
According to the2021 Profile of Home Buyers and Sellers, the typical home seller has been in their home for 8 years. ^[8]
In 2019, 64.9% of families owned their primary residence, according to the Federal Reserve’sSurvey of Consumer Finances. ^[8]
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. ^[8]
65% of all REALTORS® are female, and the median age of all REALTORS® is 52. ^[8]
29%Bachelor’s degree 32%Graduate degree and above. ^[8]
13%Associate degree 13%Some graduate school 6%High. ^[8]
® affiliation with firmsIndependent contractor 88%Employee. ^[8]
® most often prefer to communicate with their clients through text messaging, at 93%. ^[8]
Ninety percent preferred to communicate via telephone, and 89% through e. ^[8]
70% of broker/broker associates and 69% of sales agents have a website. ^[8]
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. ^[8]
74% of REALTORS® use Facebook and 56% use LinkedIn for professional purposes. ^[8]
20% of all members get 15% of their business from social media, and 10% get 6. ^[8]
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. ^[8]
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. ^[8]
Among those who financed their home purchase, buyers typically financed 87% of the home price. ^[8]
87% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69% in 2001. ^[8]
Buyers who would use their agent again or recommend their agent to others 75%. ^[8]
Internet 51%Real estate agent 28%Yard sign/open house sign 4%Friend, relative, or neighbor 6%Home builder or their agent. ^[8]
from sellers/Knew the sellers 3%Print newspaper advertisement 1% Source 2021 National Association of REALTORS® Profile of Home Buyers and Sellers. ^[8]
90% of sellers were assisted by a real estate agent when selling their home. ^[8]
Recent sellers typically sold their homes for 100% of the listing price, and 35% reported reducing the asking price at least once. ^[8]
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. ^[8]
Sellers who definitely would use same agent again 90% Source 2021 National Association of REALTORS® Profile of Home Buyers and Sellers. ^[8]
FSBOs accounted for 7% of home sales in 2020. ^[8]
34%Yard sign 26%Friends, relatives, or neighbors. ^[8]
18%Social networking websites. ^[8]
Tours 3%Forsaleby owner websites 2%Print newspaper advertisement. ^[8]
Homes sold for 2.7% above asking price in August. ^[9]
Double digit price increases continue, with a median sold price of $450,000, up 18.4% from last year. ^[9]
The average price dropped just below the $500k threshold at $499,278, up 14.5%. ^[9]
Home values in the United States have increased 50.7% since November 2016. ^[2]
That number has fallen to 50%, with many Millennials choosing to invest in real estate instead. ^[2]
Sales of vacation homes skyrocketed during the pandemic, with sales outpacing the growth of existing home sales by nearly 300%. ^[2]
The average nightly rental rate in the US for short term rentals is $202.50 per night, with 60% of stays seven days or longer. ^[2]
It is expected to have a compound annual growth rate of 3.4% over the next 5 years. ^[2]
Individual real estate investors account for 72.5% of rental properties in the United States. ^[2]
Construction of entry level homes below 1,400 square feet has consistently declined as a percentage of new construction since 1980. ^[2]
By 2020, the percentage of smaller starter home construction dropped to about 7% of total construction. ^[2]
Industry experts mostly agree that 30year interest rates on fixed rate mortgages could reach the high 3% to low 4% range by the end of this year. ^[2]
For Sale by Owner properties accounted for 7% of home sales in 2020. ^[2]
Rental costs increased in 65% of US counties in Q1 2020, with 7 California counties listed among the top 10 counties where it is cheaper to rent, according to the most recent rent vs buy data from Realtor.com. ^[2]
The number of over 60 renters increased by 43% between 2007 and 2017 as retiring Baby Boomers chose to rent rather than buy when downsizing. ^[2]
The fastest single family rent growth in the US occurred in three Sun Belt cities – Miami, Phoenix, and Las Vegas – where annual rents increased by 21.4%, 19.2%, and 15.4% respectively. ^[2]
Florida witnessed the largest increases in single family rents during the pandemic, with rents in Sarasota, Port St. Lucie, and Daytona Beach soaring by more than 50% on average between March 2020 and October 2021. ^[2]
More than 45% of renter households pay rent equal to 30% or more of their gross household income. ^[2]
About onethird of the rental units in the US are single family homes, with the number of SFRs rising by 18% between 2008 and 2018. ^[2]
Over 44 million housing units in the US are renteroccupied, with 41% of renters living in single. ^[2]
In 2020, US property management accounted for about $88.4 billion in revenue in North America, an increase of nearly 8% over the past 12 months. ^[2]
According to a study from Harvard University, spending on remodeling is expected to reach $400 billion by Q3 2024, with annual improvement and repair spending growing by 9% yearover. ^[2]
According to HomeUnion, 9 must haves for a successful single family rental property are. ^[2]
After recording net occupancy growth for the first time since the onset of COVID 19 in Q4 2021, absorption ended Q1 essentially flat, with a quarterly decline of 5 million square feet representing a modest 0.1% decline in occupancy. ^[10]
Leasing activity rose by a healthy 5.4% on the back of improved clarity surrounding returnto. ^[10]
In general, rents and mortgage repayments should not be more than 30% of the monthly income of the household in an area. ^[3]
For example, properties sell 68% faster with the help of photos taken through drones. ^[3]
More than 90% of all buyers today start their house hunt on internet before they contact a real estate agent. ^[3]
80%of property managers are tasked with managing or performing building maintenance on top of collecting rent. ^[4]
%, the majority of property managers manage communities of 101. ^[4]
%, the least common type of property manager is those who manage communities of more than 500 units. ^[4]
56%of property managers own the building they’re managing. ^[4]
52%of property management companies make less than $249,000 in annual revenue. ^[4]
Only13%of property management companies make more than $1 million in annual revenue. ^[4]
Property managers say efficiency (at32%) an maintenance (at31%). ^[4]
69%of property managers reported portfolio growth in 2019, down from each of the previous three years. ^[4]
There are an estimated291,978property management companies in the US in 2020. ^[4]
90.3%of Millennial respondents said they would or would consider paying higher rent for better amenities or proptech. ^[4]
87.2%of multifamily residents say amenities significantly impact their decision to sign or renew a lease. ^[4]
93.6%of multifamily residents said that would or would consider paying higher rent for improved onsite amenities. ^[4]
The most common types of amenities found in multifamily communities are fitness & wellness amenities at19.5%of all properties. ^[4]
The most common specific amenity found in multifamily properties is bike storage rooms, at60%of all communities. ^[4]
of53.3%, up from52.5%of renters in 2019. ^[4]
Before COVID 19, apartment retention rates had reached58.5%. ^[4]
The current rental vacancy rate in the US is6%. ^[4]
Reducing resident turnover by5%improves operating income for property management companies by an average of $15,000. ^[4]
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. ^[4]
While the majority of renters sign a 12 month lease (61%). ^[4]
47%of renters who moved in 2018 already planned to move in the following year. ^[4]
52%of renters in 2018 had regrets about signing a lease because they were unable to customize or improve the property. ^[4]
In December 2020,89%of renters made their rent payment – meaning over 1 in 10 renters were not able to make rent. ^[4]
44 millionhomes (36%). ^[4]
In 2019,66%of US counties saw the cost of renting increase. ^[4]
Over50%of renters spend30%or more of their income on rent. ^[4]
From 2017 to 2019, new multifamily property construction projects increase by21%. ^[4]
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. ^[4]
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. ^[4]
Since COVID 19, Boise has seen the biggest rise in rent growth, up9.1%since March 2020 – from $3,200 down to $2,300. ^[4]
Suburban cities have seen a slight increase in rent prices since COVID. ^[4]
Buildings account for upwards of 40% of global energy use and carbon emissions. ^[11]
By the end of 2021, cities like Phoenix, Charlotte and Nashville are expected to regain nearly all lost jobs, while the US as a whole is projected to be down almost 2%. ^[11]
Freddie Mac just reported another alltime low with the 30 year fixed rate having dropped to 2.86%. ^[5]
8,878 Sales are down 13.8% from last month, and up 1.7% from last year. ^[5]
13,510 Total inventory increased 3.9% from last month, and decreased 22.8% from last year. ^[5]
The average sales price is up 17.7% from last year, while the median sales price is up 16.1% from last year. ^[5]

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

Reference

ibisworld – https://www.ibisworld.com/industry-statistics/market-size/real-estate-asset-management-consulting-united-states/.
ipropertymanagement – https://ipropertymanagement.com/research/property-management-industry-statistics.
roofstock – https://learn.roofstock.com/blog/real-estate-facts.
386rent – https://www.386rent.com/blog/statistics-that-is-the-most-important-for-real-estate-investors.
2ndkitchen – https://2ndkitchen.com/apartments/property-management-statistics/.
allcountyprestige – https://allcountyprestige.com/august-2020-phoenix-real-estate-statistics/.
statista – https://www.statista.com/statistics/295484/revenue-real-estate-asset-management-and-consulting-in-the-us/.
appfolio – https://www.appfolio.com/blog/customer-experience-gap/.
nar – https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics.
allcountycs – https://allcountycs.com/category/real-estate-stats/.
jll – https://www.us.jll.com/en/trends-and-insights/research/office-market-statistics-trends.
pwc – https://www.pwc.com/us/en/industries/asset-wealth-management/real-estate/emerging-trends-in-real-estate.html.

How Useful is Real Estate Asset Management

One of the key benefits of real estate asset management is its ability to optimize the performance of properties. Asset managers are responsible for developing and implementing strategic plans to increase the value of properties over time. This may involve upgrading facilities, lowering expenses, and enhancing the overall attractiveness of the property to potential tenants or buyers. By carefully analyzing market trends and making informed decisions, real estate asset managers can significantly impact the financial returns of an investment.

Another important aspect of real estate asset management is risk management. Asset managers are tasked with identifying and mitigating risks that may impact the value of properties. This includes monitoring market conditions, identifying potential threats to a property’s value, and developing strategies to address these risks. By staying proactive and adaptive, asset managers can protect investments from potential market downturns or emergencies.

In addition to optimizing performance and managing risks, real estate asset managers are also responsible for creating value in the long term. This involves developing and implementing comprehensive asset plans that consider both short-term objectives and long-term goals. By taking a holistic approach to managing assets, real estate asset managers can ensure the sustainability and growth of investments over time.

Furthermore, real estate asset management is essential for maintaining and enhancing the reputation of real estate portfolios. Asset managers play a critical role in building relationships with tenants, investors, and other stakeholders. By providing exceptional customer service, addressing concerns promptly, and maintaining high-quality facilities, asset managers can create a positive image for their properties. This positive reputation can lead to higher occupancy rates, increased investment opportunities, and overall success in the real estate market.

Overall, real estate asset management is a valuable and indispensable tool for real estate investors looking to maximize the value and performance of their properties. By optimizing performance, managing risks, creating long-term value, and enhancing reputation, asset managers play a crucial role in the success of real estate investments. As the real estate market continues to evolve and become increasingly competitive, the importance of effective asset management will only continue to grow.

In Conclusion

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Real Estate Asset Management Statistics 2024 – Everything You Need to Know