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 professional property management s

According to Cognitive Market Research, the global Property Management market size will be USD 27812.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 8.80% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 10290.74 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.6% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 8065.71 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 6675.07 million in 2025 and will grow at a compound annual growth rate (CAGR) of 10.8% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 1056.89 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.8% from 2025 to 2033.
The Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 1112.51 million in 2025. It will grow at a compound annual growth rate (CAGR) of 8.1% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 611.88 million in 2025 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2025 to 2033.
On-premises category is the fastest growing segment of the Property Management industry

Market Dynamics of Property Management Market

Key Drivers for Property Management Market

Technological Advancements and Automation to Boost Market Growth

The integration of advanced technologies such as Property Management Software (PMS), Internet of Things (IoT), and automation systems is a key driver for the property management market. These technologies streamline operations like lease management, tenant communication, and maintenance scheduling. Automated systems enable property managers to provide better services, ensuring efficiency and improving the tenant experience. For instance, PMS allows for real-time tracking of rental payments, maintenance requests, and communication between tenants and landlords. The rise of IoT enables the implementation of smart building solutions, offering energy efficiency and enhanced security. As more property managers adopt these technologies, operational costs are reduced, tenant satisfaction improves, and the overall management process becomes more seamless.

Growing Urbanization and Real Estate Development To Boost Market Growth

Rapid urbanization and increased real estate development are significant driving forces behind the property management market. As more people move to urban centres for work and lifestyle opportunities, the demand for residential, commercial, and mixed-use properties increases. This surge in population and development leads to a higher need for efficient property management to handle the complexities of large residential complexes, office spaces, and retail properties. With real estate developers focusing on building modern infrastructures, property managers are required to oversee these assets, ensuring everything from tenant relations to property maintenance is handled effectively. Furthermore, urbanization results in higher property values, which incentivizes both individual property owners and businesses to invest in professional property management services.

Restraint Factor for the Property Management Market

High Operational Costs, Will Limit Market Growth

A significant restraining factor in the property management market is the high operational costs associated with maintaining and managing properties. Property managers are often required to deal with expensive maintenance, repairs, insurance, and legal fees. This financial burden can be exacerbated by the need for continuous staff training, property inspections, and compliance with local regulations. The costs associated with technological tools and software for property management also add to the operational expenses. In some cases, property managers may need to pass these increased costs onto tenants, which could lead to reduced demand for rental properties, particularly in competitive or price-sensitive markets.

Key Trends for Property Management Market

Adoption of Cloud-Based and Mobile Property Management Platforms

A notable trend influencing the property management sector is the swift adoption of cloud-base...

The US property management industry, a significant segment of the broader real estate market, is experiencing steady growth, projected to reach a substantial size over the next decade. Driven by factors such as increasing urbanization, a robust rental market, and the growing preference for rental housing among millennials and Gen Z, the sector shows considerable promise. The industry is segmented by end-user (commercial and residential) and service type (marketing, property evaluation, tenant services, maintenance, and other services). Commercial property management is a significant revenue driver, benefiting from the expansion of businesses and the need for efficient space management. Residential property management, however, is expected to see higher growth due to increasing demand for rental units across various price points. Technological advancements, particularly in property management software and online platforms, are streamlining operations and enhancing efficiency, improving tenant experiences, and attracting new investors. However, challenges remain, including fluctuating interest rates impacting investment decisions, potential economic downturns affecting occupancy rates, and the need for skilled professionals to manage increasingly complex portfolios. The competitive landscape is characterized by both large, publicly traded companies like CBRE Group and Jones Lang LaSalle, as well as smaller, regional players specializing in niche markets. This competitive dynamic fosters innovation and provides a wide range of services catering to diverse client needs. The forecast period of 2025-2033 suggests a continued positive trajectory for the US property management market. While external factors like inflation and recessionary pressures could influence growth rates, the underlying demand for professional property management services is expected to remain strong. The industry's adaptation to technological advancements and the ongoing evolution of property management practices are key factors contributing to its resilience and long-term sustainability. The concentration of major players in key metropolitan areas suggests future growth will likely be concentrated in these urban centers, with expansion into secondary and tertiary markets also presenting significant opportunities. Further segmentation analysis, particularly focusing on specific service types within both commercial and residential sectors, would allow for more precise projections and strategic investment decisions. Comprehensive Coverage US Property Management Industry Report (2019-2033) This in-depth report provides a comprehensive analysis of the US Property Management Industry, offering invaluable insights for investors, industry professionals, and strategic planners. The report covers the period from 2019 to 2033, with a base year of 2025 and a forecast period extending to 2033. We delve into market size, segmentation, trends, and key players, leveraging data from the historical period (2019-2024) to project future growth. Our analysis encompasses various segments, including commercial and residential property management, and services like marketing, property evaluation, tenant services, and maintenance. Discover the factors driving market expansion and the challenges impacting industry players. This report is your essential guide to navigating the dynamic US property management landscape. Recent developments include: February 2024: Wood Partners, the 4th-largest real estate developer in the United States, sold its property management business for its 38,000+ units in 17 states to Greystar (Charleston, South Carolina), the country's largest apartment management company., November 2023: RealPage Inc. acquired On-site Managers Inc. for approximately USD 250 million in cash. On-Site is an on-demand leasing platform for multifamily property management and renters that integrates leads from all sources and converts them to signed leases for the multifamily industry and the single-family housing industry. RealPage will continue to support the on-site platform and plans to integrate the best of its on-site platforms in the future. Clients on both platforms will continue to benefit from future improvements without disruption.. Key drivers for this market are: Increasing Demand from the Commercial Segment is Driving the Market, Increasing Disposable Income of Consumers is Driving the market. Potential restraints include: Economic Uncertainties are Restraining the Market. Notable trends are: Demand from the Residential Sector is Supporting the Market.

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.

Market Size statistics on the Property Management industry in the US

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.

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...

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.

Graph and download economic data for Producer Price Index by Industry: Residential Property Managers: Residential Property Management Services (PCU5313115313111) from Dec 1995 to Jul 2025 about management, residential, services, PPI, industry, inflation, price index, indexes, price, and USA.

The summary statistics by North American Industry Classification System (NAICS) which include: operating revenue (dollars x 1,000,000), operating expenses (dollars x 1,000,000), salaries wages and benefits (dollars x 1,000,000), and operating profit margin (by percent), of lessors of residential buildings and dwellings (except social housing projects) (NAICS 531111), annual, for five years of data.

CBRE was the first-ranking commercial property management company worldwide in 2024, with ************square feet of property under management. Colliers ranked second with *** billion square feet under its management. The two companies also ranked highly among the commercial real estate brokers.

Graph and download economic data for Producer Price Index by Industry: Nonresidential Property Managers: Nonresidential Property Management Services (PCU5313125313121) from Dec 1995 to Jul 2025 about management, nonresidential, services, PPI, industry, inflation, price index, indexes, price, and USA.

Real Estate Property Management Market is valued at USD 24.32 Bn in 2025 and is expected to expand at CAGR of 7.8%, reaching USD 41.17 Bn by 2032.

Market Analysis The global Rental Property Management Software market is projected to reach $X million by 2033, expanding at a CAGR of XX% from 2025 to 2033. The growing need for efficient property management, coupled with increasing urbanization and the rise of the rental market, is driving market expansion. Furthermore, technological advancements, such as cloud-based solutions and automation, are spurring adoption. Key Trends and Drivers Key trends shaping the market include the rising popularity of cloud and mobile-based software, offering flexibility and accessibility. SaaS and Web-based solutions are gaining traction, enabling seamless property management from multiple devices. Additionally, the integration of artificial intelligence and machine learning technologies is enhancing software capabilities, automating tasks, and providing predictive insights. Growing competition among vendors is fueling innovation, with companies offering customized solutions to meet the unique needs of property managers. The increasing awareness of data privacy and security concerns within the real estate industry is also driving the demand for secure and compliant software.

Global Property Management market size is expected to reach $31.87 billion by 2029 at 8.4%, segmented as by solutions, property management software, tenant management solutions, lease management solutions, facility management solutions