Number of Businesses statistics on the Property Management industry in the US

The Report Covers US Property Management Market Analysis & Growth. The Market is Segmented by End User (Commercial and Residential) and Service (Marketing, Property Evaluation, Tenant Services, Maintenance, and Other Services). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

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Property Management Market Size 2025-2029

The property management market size is forecast to increase by USD 13.19 billion, at a CAGR of 8.4% between 2024 and 2029.

The market is experiencing significant shifts driven by the increasing adoption of technology and regulatory requirements. One key trend is the integration of blockchain and smart contracts in property listings, enhancing transparency and security. This technological advancement necessitates a shift in skill sets for property management professionals, as proficiency in blockchain and related technologies becomes increasingly valuable. Another significant challenge arises from the evolving regulatory landscape. Compliance with government regulations for property management is essential, and failure to do so can result in penalties and reputational damage. As property management companies navigate these regulatory requirements, they must also adapt to the changing technological landscape and invest in their workforce to remain competitive. In summary, the market is undergoing transformative changes, driven by the adoption of emerging technologies and evolving regulatory requirements. Companies seeking to capitalize on market opportunities must invest in their workforce and stay abreast of technological advancements, while navigating the complex regulatory landscape. Adherence to regulations and the integration of blockchain and smart contracts are critical components of strategic planning in this dynamic market.

What will be the Size of the Property Management Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, with dynamic market dynamics shaping the industry across various sectors. Fair housing laws and regulatory compliance remain a constant focus, as property managers navigate the complexities of tenant screening, background checks, and lease agreements. Capital improvements and maintenance requests require ongoing attention, with accounting software and financial reporting essential for effective budgeting and cash flow management. Green building and energy efficiency are increasingly important, as property managers seek to reduce operational costs and appeal to environmentally-conscious tenants. Property tax assessments and real estate taxes demand diligent due diligence, while insurance compliance and risk management ensure the protection of assets and mitigation of potential liabilities. Janitorial services and appliance repair are crucial for maintaining property conditions, while IoT integration and smart home technology enhance tenant communication and convenience. Security systems, access control, and pest control contribute to the safety and well-being of residents. Property valuation and marketing strategies are vital for maximizing returns on investment. Predictive modeling and data analytics help property managers anticipate trends and make informed decisions. HVAC systems, rent collection, and lease renewals are ongoing concerns, as is maintaining electrical systems and ensuring renters insurance coverage. Data security and tenant retention are critical in today's digital age, with cloud computing and mobile apps streamlining operations and enhancing tenant experiences. Building maintenance and fire safety are ongoing priorities, as property managers balance the needs of tenants with the requirements of regulatory bodies and stakeholders.

How is this Property Management Industry segmented?

The property management industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ApplicationCommercialIndustrialResidentialRecreational marinasComponentSoftwareServicesEnd-UserHousing AssociationsProperty Managers/ AgentsProperty InvestorsOthersDeployment TypeOn-PremisesCloud-BasedGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKMiddle East and AfricaUAEAPACAustraliaChinaIndiaJapanSouth AmericaArgentinaBrazilRest of World (ROW)

By Application Insights

The commercial segment is estimated to witness significant growth during the forecast period.Commercial property management encompasses the administration and operation of non-residential properties, including office buildings, retail spaces, industrial facilities, and commercial complexes. The commercial segment entails tasks unique to commercial real estate, such as lease negotiations, tenant retention strategies, facility maintenance, and adherence to commercial property regulations. The complexity of managing diverse commercial real estate portfolios and the necessity of specialized expertise in commercial leases and tenant relationships have fueled the demand for professi

The property management market in the United States grew year-on-year between 2013 and 2021, followed by a decline until 2023. In 2023, the size of the market was estimated at ***** billion U.S. dollars, down from ***** in 2021.

Property Management Market size was valued at 17.34 USD Billion in 2023 and is projected to reach 32.05 USD Billion by 2031, growing at a CAGR of 8.80% from 2024 to 2031.

Key Market Drivers: • Urbanization and Population Growth: As cities throughout the world continue to grow in population, the demand for residential and commercial housing rises dramatically. This increase in real estate demand generates a favorable climate for property management services. Property owners, particularly those with geographically distributed properties, rely on property managers to tackle the challenges of managing their investments in high-demand, fast-paced urban locations.

• Growing Real Estate Investment: Real estate remains appealing to both individual and institutional investors. This increased investment in real estate, particularly rental residences and commercial spaces, drives up demand for property management services. Owners seeking a consistent return on investment frequently lack the time or experience to maintain their properties themselves, making professional property management an attractive option.

• Rising Popularity of Absentee Ownership: Absentee ownership is becoming increasingly popular, with property owners living far away from their investment homes. This could be due to relocation, inheritance, or portfolio diversification. Property management businesses play an important role for these absentee owners, ensuring that their properties are well-maintained, tenanted, and earning money despite the owner's physical distance.

• Increasing Legal and Regulatory Complexity: The legal landscape for property ownership and administration is continually changing. Regulations governing tenant rights, fair housing, safety standards, and environmental considerations can be complex and ever-changing. Property management businesses stay on top of these legislative updates and guarantee that properties conform, reducing risks and potential liabilities for owners who may struggle to handle these complexities on their own.

• Technological Transformation: The property management sector is undergoing a digital revolution. Cloud-based software simplifies duties, automates processes, and improves communication among property owners, managers, and tenants. This technological advancement enables property management businesses to provide a more complete and cost-effective service, making them a more appealing option for owners looking for modern and efficient solutions.

• Demand for Improved Resident Services: Today's residents want a convenient and responsive living experience. Property management businesses are meeting this demand by providing resident portals for online rent payments, maintenance requests, and communication. This not only increases tenant happiness but also makes operations easier for property managers.

• Focus on sustainability and energy efficiency: As environmental concerns grow, property owners and tenants are seeking more sustainable and energy-efficient structures. Property management businesses are well-positioned to meet this expanding need. Their maintenance and operations experience can improve building efficiency, resulting in lower energy consumption and a more environmentally friendly portfolio that can attract tenants and save money for owners.

Residential property managers have seen revenue growth in recent years; demand for management services is countercyclical, as more consumers switch to rentals when the economy worsens and the price of home ownership increases. Managers experienced growth during the economic downturn brought on by the COVID-19 pandemic, carried by improved residential constructions. Rental vacancy rates declined as property owners needed to fill more apartments to maximize revenue during a time of uncertainty, as the eviction moratorium prevented them from pushing out renters who couldn't pay. Revenue has grown at a CAGR of 7.3% over the five years to 2024, when revenue is set to reach $113.8 billion, when revenue is set to grow 1.6% and profit is set to have seen overall growth. Homeownership provides the most substantial competition to residential property managers. Interest rates were lowered to spur economic growth during the COVID-19 pandemic, leading to increased homeownership. The Federal Reserve then hiked interest rates multiple times to combat persistent inflation, pushing many residents back to renting. The rental vacancy rate accordingly fell over the past five years. While this may provide more immediate revenue, many property owners purposefully keep a certain quantity of units empty to maintain higher value, supporting profit by increasing the return per unit. Moving forward, the value of residential construction will grow, increasing the profitability of opening rental facilities. Falling interest rates, with cuts having begun in 2024, will have a mixed impact on the industry. Disposable income will grow while this happens, meaning capable renters will not be in short supply. Altogether, revenue is set to grow at a CAGR of 1.7% over the five years to 2029, when revenue is set to reach $122.7 billion.

Property Management Software Market is Segmented by Deployment Model (Cloud-Based, On-Premises, Hybrid), Property Type (Residential, Commercial, Mixed-Use), End User (Property Managers and Agents, Housing Associations and More), Solution Module (Lease and Tenant Management, Accounting and Reporting, and More), Organization Size (Small (1–500 Units), Mid (501–5 000 Units), Large (>5 000 Units)), and Geography.

US Property Management Market size was valued at USD 24.8 Billion in 2024 and is projected to reach USD 42.1 Billion by 2032 growing at a CAGR of 6.8% from 2025 to 2032.

Key Challenges: Rising Property Maintenance Costs: According to the National Association of Realtors (NAR), the average annual maintenance cost of owning a house in the United States has risen by 20% in the past five years. This increase in maintenance costs may prevent property owners from investing in property management services because they will incur greater maintenance charges.

Labor Shortages in Property Management: According to the Bureau of Labor Statistics, the number of property managers in the United States will fall by 16% between 2020 and 2023 due to labour shortages. Also, the shortage of skilled property management personnel stifles industry expansion and raises operational costs for property management firms.

Graph and download economic data for Producer Price Index by Industry: Nonresidential Property Managers: Primary Services (PCU531312531312P) from Dec 2003 to May 2025 about management, nonresidential, primary, services, PPI, industry, inflation, price index, indexes, price, and USA.

The Canadian property management industry witnessed robust growth in rental apartment supply in 2024, lifting national vacancy rates to 2.2%. The expansion in apartment supply was the most significant in over three decades. However, rental market conditions remained tight in crucial markets. The average rent for two-bedroom apartment units climbed 5.4% in 2024, highlighting sustained demand for apartment rentals. Affordability issues persisted since the completion of high-priced units bolstered the supply gain. The industry remained highly competitive, requiring agile adaptation strategies from property managers in response to slower rent growth, higher vacancies, evolving tenant preferences and affordability challenges. Nonetheless, revenue has grown at a CAGR of 0.2% to $9.8 billion through the end of 2025, including a 1.3% climb in 2025. Sustained demand for apartment rental will primarily drive revenue growth in 2025, as residential property management is the industry's largest market. The high cost of housing has continued to subvert the transition from renting to homeownership. Interest rate reductions by the Bank of Canada stimulated a 10.0% climb in home sales in 2024, yet homeownership is still out of reach for most Canadians. As Canadians stay longer in rentals, demand for residential property managers is expected to strengthen. On the other hand, the demand for commercial property management is mixed because of the complexity of commercial buildings, evolving workspace needs and the emergence of hybrid work models. Higher rental rates and lower vacancy rates have led to rising profit. The industry will enjoy growth through the end of 2030, with revenue rising at a CAGR of 1.4% to reach $10.5 billion in 2030. Continuous population growth and urbanization will significantly influence the industry's performance, increasing rental housing demand in major cities. Although interest rates have dropped, home ownership will remain elusive for most Canadians, which means Canadians will rent longer, sustaining demand for residential property management services. Technological advancements will fundamentally change the industry's operations, making Artificial Intelligence, the Internet of Things and automation key drivers of efficiency, sustainability and tenant-centric innovation. The next five years will also present regulatory changes that could add compliance burdens and influence market dynamics. Canadian property management will evolve and be characterized by data-driven portfolio management, tenant retention strategies, technological adoption and compliance with stricter environmental regulations and tenant protection measures.

CBRE was the first ranking commercial property management company worldwide in 2024 with over ************* square feet of property under its management. Cushman & Wakefield ranked second with *********** square feet under its management. The two companies also ranked highly among the commercial real estate brokers.

According to Cognitive Market Research, The Global Property Management Service market was estimated at USD 14.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. Rising Demands for SaaS-based Property Management Software to Expand Market Penetration

Subscription-based SaaS solutions benefit companies of all sizes. Businesses increasingly use SaaS solutions to optimize operations by automating workflows and removing manual input. Businesses can also lower the cost and complexity of on-premises deployment by installing SaaS solutions. SaaS software assists large multifamily property management organizations integrate several technologies across their portfolio. In addition, the SaaS model is crucial for multi-vendor device compatibility with legacy systems.

For instance, Planon collaborated with AddOnn in March 2021 to combine AddOnn's SaaS solution with Planon's software platform for building and service digitalization to provide end-to-end solutions to end-users worldwide.

(Source:planonsoftware.com/uk/news/planon-and-addonn-launch-partnership-with-introduction-of-mobile-cleaning-solution/)

Employees in real estate organizations rely on up-to-date information to make vital decisions. SaaS systems allow users to access information from any location and device with internet connectivity. A SaaS platform can help property managers link their property solutions with sophisticated payment services for quick and easy transactions.

Evolving Trends of Workforce Mobility to Strengthen Market Share

Many employees nowadays prefer to work from home rather than in offices, corporate headquarters, or a global company branch. This contributes to the need for flexible access to office resources and data. Besides, organizations are using virtual workplaces to reduce their physical infrastructure requirements to a bare minimum, allowing them to be more flexible and use their office space better. Many businesses seek mobility, workplace, and other integrated facility management solutions. This enables property managers to retain productivity while working with a huge crew. These solutions can be used by associated real estate agents & property managers to maintain track of all the properties they manage and the routine maintenance that needs to be performed on them. As a result, the rising trend of workplace mobility is propelling the property management service industry forward.

For instance, Entrata Inc. reported the integration of Alexa with residential buildings in April 2021. This integration would enable property managers to monitor or set up Alexa-enabled devices in each unit, allowing them to create voice-controlled automated homes.

(Source:www.prnewswire.com/news-releases/entrata-enables-alexa-experience-at-scale-with-amazons-alexa-for-residential-301263114.html)

Market Dynamics of Property Management Service

Integration Complexity and Data Security Concerns to Limit Market Growth

One significant restraint property management software services face is the complexity of integrating with existing systems and databases. Many property management companies already have established tools for accounting, tenant communication, maintenance tracking, and more. Implementing new software solutions can lead to compatibility challenges and difficulties in transferring data seamlessly. Furthermore, as property management software handles sensitive information such as tenant details, financial records, and property documents, ensuring robust data security becomes critical. Any breaches or unauthorized access can lead to legal consequences, financial losses, and company reputation damage.

Impact of COVID-19 on the Property Management Service Market

The COVID-19 pandemic significantly impacted the property management service market, introducing shifts in tenant behavior, remote work trends, and economic uncertainties that prompted property managers to adapt their strategies. Lockdowns and travel restrictions decreased demand for short-term rentals, while remote work trends increased the significance of property amenities and flexible leasing options. Property managers incorporated virtual tours, contactless services, and enhanced sanitation measures to address safety concerns. Moreover, the pandemic accelerated the adoption of proptech solutions for remote property monitoring and digital communication, reshap...

This table contains 225 series, with data for years 1998 - 2006 (not all combinations necessarily have data for all years), and was last released on 2010-03-22. This table contains data described by the following dimensions (Not all combinations are available): Geography (15 items: Canada; Prince Edward Island; Nova Scotia; Newfoundland and Labrador ...), North American Industry Classification System (NAICS) (3 items: Lessors of residential buildings and dwellings (except social housing projects);Non-residential leasing; Real estate property managers ...), Summary statistics (5 items: Operating revenue; Operating expenses; Salaries; wages and benefits; Operating profit margin ...).

Graph and download economic data for Producer Price Index by Industry: Residential Property Managers: Primary Services (PCU531311531311P) from Dec 2003 to May 2025 about management, primary, residential, services, PPI, industry, inflation, price index, indexes, price, and USA.

Property Management Service Market Outlook

The global property management service market size is expected to grow from USD 15.6 billion in 2023 to USD 24.5 billion by 2032, driven by a robust CAGR of 5.2% during the forecast period. The growth of this market is significantly attributed to the increasing urbanization, rising real estate investments, and the growing need for efficient property management solutions. As real estate sectors across the globe continue to expand, the demand for streamlined and professional property management services has soared, making them indispensable in maintaining and enhancing property values.

One of the primary growth factors for the property management service market is the accelerating pace of urbanization. As more people move into urban areas seeking better employment opportunities and living standards, the demand for residential and commercial properties rises. This urban influx necessitates effective property management services to handle the complexities associated with large-scale property ownership and maintenance. Moreover, the growth of smart cities and the integration of advanced technologies into urban planning further accentuates the need for sophisticated property management solutions.

Additionally, the rising real estate investments across both developed and developing economies fuel the expansion of the property management service market. Investors are increasingly recognizing the value of professionally managed properties in ensuring high returns and maintaining asset value. Property management services provide a comprehensive range of offerings, from tenant management to maintenance, which are vital for maximizing property performance. This trend is particularly notable among institutional investors and real estate developers who seek to optimize their portfolios through efficient property management practices.

The adoption of technology in property management is another significant growth driver. The emergence of cloud-based property management software and solutions has revolutionized the industry, offering enhanced scalability, data security, and operational efficiency. These technological advancements enable property managers to streamline their operations, improve tenant communication, and ensure timely rent collection and maintenance. Moreover, the incorporation of IoT and AI-based tools aids in predictive maintenance and smart property insights, further bolstering market growth.

Property Technology, often referred to as PropTech, is revolutionizing the property management industry by introducing innovative solutions that enhance operational efficiency and tenant satisfaction. This technology encompasses a wide range of digital tools and platforms that streamline property management processes, from automated tenant communication to advanced data analytics. By leveraging PropTech, property managers can gain real-time insights into property performance, optimize maintenance schedules, and improve tenant experiences. The integration of PropTech solutions not only reduces operational costs but also enhances the overall value of properties, making it an indispensable component of modern property management strategies.

Regionally, North America dominates the property management service market, followed by Europe and the Asia Pacific. North AmericaÂ’s leadership is attributed to its advanced real estate sector, high adoption of technology, and significant investments in property infrastructure. Europe also boasts a mature market characterized by stringent property regulations and a focus on sustainable property management practices. The Asia Pacific region, however, is expected to exhibit the highest growth rate during the forecast period due to rapid urbanization, increasing property investments, and the evolving real estate landscape in countries such as China, India, and Southeast Asian nations.

Service Type Analysis

Analyzing the property management service market by service type, tenant management emerges as a crucial segment. Tenant management encompasses a broad array of activities, including tenant acquisition, retention, rent collection, and handling tenant queries and complaints. As rental properties become more prevalent, the demand for efficient tenant management services increases. Property managers play a pivotal role in ensuring tenant satisfaction, which directly impacts property occupancy rates and overall profitability. The growing trend of rental properties, particular

The Global Property Management Softwaremarket is projected to grow significantly, from USD 5,321.9 Million in 2025 to USD 16,832.1 Million by 2035 an it is reflecting a strong CAGR of 12.4%.

Attributes	Description
Industry Size (2025E)	USD 5,321.9 million
Industry Size (2035F)	USD 16,832.1 million
CAGR (2025 to 2035)	12.4%

Country-wise Insights

Countries	CAGR from 2025 to 2035
India	14.9%
China	13.7%
Germany	9.8%
Japan	12.5%
United States	11.0%

Category-wise Insights

Segment	CAGR ( 2025 to 2035 )
Services ( Component )	13.9%

Segment	Value Share (2025 )
Construction and Real Estate ( Vertical )	32.9%

Competition Outlook: Property Management Software Market

Company Name	Estimated Market Share (%)
Yardi Systems	22-27%
RealPage	18-22%
AppFolio	10-15%
MRI Software	8-12%
Buildium	6-10%
Other Companies (combined)	20-30%

Recent developments include: September 2023 – AppFolio enhanced its cloud-based business management solutions for the real estate industry by incorporating generative AI capabilities and introducing new payment options. The latest addition to AppFolio's suite of AI capabilities is Realm-X, a conversational interface powered by generative AI specifically designed for property managers., July 2023 – Entrata, Inc. acquired Rent Dynamics, a company that specializes in resident rent reporting and financial resources. This strategic move enabled Entrata to enhance its range of services and solidify its position in the property management sector. As a result, residents can now benefit from even more valuable services related to rent reporting and financial management., April 2023 – Inhabit launched ResidentIQ, a property management software for residential property managers. This software offers secured operations, payment, insurance, resident engagement, and screening solutions in a single software, making it a user-friendly software., January 2023 – Union, a property management software provider, launched a centralized leasing software and support solution to allow organized remote management of multifamily communities., January 2022 – Guesty, a hospitality and property management solution provider, launched GuestyPay, a novel payment processing solution. This solution is designed specifically for property managers and vacation rental. This solution was fully operational for users in the U.S. and it was expected to be launched for European customers in mid-2023.. Key drivers for this market are: Increasing Demand for SaaS-based Software to Aid Market Growth. Potential restraints include: Budget Constraints to Reflect Broader Range of Risk . Notable trends are: Evolving Trend of Workforce Mobility to Strengthen Growth.

In 2023, the Property Management Market reached a value of USD 22.30 billion, and it is projected to surge to USD 39.32 billion by 2030.

Property Management Market size was valued at USD 24.7 Billion in 2023 and is poised to grow from USD 26.68 Billion in 2024 to USD 0 Billion by 2032, growing at a CAGR of 8.0% during the forecast period (2025-2032).

Global Property Management market size is expected to reach $33.11 billion by 2029 at 9.3%, segmented as by solutions, property management software, tenant management solutions, lease management solutions, facility management solutions