Quick Facts: Ownership and Management


Who Owns the Nation's Apartment Units
 All Properties2-4 Unit Properties5-49 Unit Properties 50+ Unit Properties
Individual Investor48%77%34%7%
LLP, LP, LLC, or General Partnership36%15%47%68%
Real Estate Investment Trust (REIT)2%0%1%2%
Real Estate Corporation3%0%4%7%
Nonprofit Organization/Housing Cooperative/Tenant in Common4%2%4%9%
Trustee for Estate3%5%6%1%
Other2%1%2%3%
Not Reported2%0%3%3%
Total100%100%100%100%

Source: U.S. Department of Housing and Urban Development and U.S. Census Bureau, Rental Housing Finance Survey. Updated 9/2017.


Who Owns the Nation's Apartment Properties
 All Properties2-4 Unit Properties5-49 Unit Properties 50+ Unit Properties
Individual Investor74%77%34%7%
LLP, LP, LLC, or General Partnership         16%15%47%68%
Real Estate Investment Trust (REIT)1%0%1%2%
Real Estate Corporation1%0%4%7%
Nonprofit Organization/Housing Cooperative/Tenant in Common2%2%4%9%
Trustee for estate        4%4%6%1%
Other1%1%2%3%
Not Reported1%0%3%3%
Total100%100%100%100%
Source: U.S. Department of Housing and Urban Development and U.S. Census Bureau, Rental Housing Finance Survey. Updated 9/2017.

Apartment Lessors and Managers by State


 

Lessors of Residential Buildings and Dwellings


Residential property managers


State


# of Establishments


# of Paid Employees


# of Establishments


# of Paid Employees


Alabama


811


3,510


357


5,518


Alaska


115


625


58


347


Arizona


890


7,391


975


9,215


Arkansas


617


2,729


262


1,642


California


9,229


44,056


7,258


62,084


Colorado


945


5,020


1,223


10,334


Connecticut


577


2,927


443


3,803


Delaware


182


743


130


1,228


District of Columbia


287


1,828


218


2,061


Florida


3,629


18,638


3,958


37,179


Georgia


1,576


8,213


1,131


11,950


Hawaii


271


1,305


216


2,018


Idaho


306


923


275


1,398


Illinois


1,862


11,011


1,358


12,881


Indiana


1,187


6,007


712


5,509


Iowa


546


2,089


270


1,467


Kansas


504


2,758


424


2,801


Kentucky


743


2,948


316


2,308


Louisiana


763


3,304


566


3,846


Maine


236


887


192


1,443


Maryland


990


10,244


957


9,097


Massachusetts


1,052


6,106


1,131


11,763


Michigan


1,236


8,737


844


13,517


Minnesota


1,142


6,531


728


9,076


Mississippi


581


1,876


229


2,148


Missouri


1,139


5,742


632


7,540


Montana


247


860


206


803


Nebraska


349


1,550


166


2,224


Nevada


583


3,147


573


6,037


New Hampshire


168


1030


274


1,530


New Jersey


2,031


9,952


1067


10,276


New Mexico


326


1,266


246


1,196


New York


11,548


44,732


5,552


39,202


North Carolina


1,546


6,459


1,471


11,365


North Dakota


208


612


126


1,243


Ohio


2,126


12,560


1,314


14,112


Oklahoma


609


2,757


443


4,267


Oregon


1,003


4,585


946


8,341


Pennsylvania


1,768


9,786


1075


10,405


Rhode Island


157


852


164


1,312


South Carolina


602


3,101


575


5,728


South Dakota


284


860


88


901


Tennessee


1,134


4,903


719


6,035


Texas


5,043


28,182


3,195


34,959


Utah


352


1,625


613


4,822


Vermont


75


406


161


684


Virginia


1,504


9,086


1021


12,510


Washington


2,076


9,347


1,482


10,166


West Virginia


389


1,174


98


588


Wisconsin


1029


5,139


577


6,029


Wyoming


180


563


69


440


U.S. total


66,753


330,682


47,084


427,348


Source: U.S. Bureau of the Census, 2015 County Business Patterns Note: Figures are primarily for apartment management but also include management of condominiums and single-family rental properties. An establishment is a single physical location at which business is conducted; a company or enterprise may have multiple establishments. Individual properties leased or managed by property lessors or property managers are not normally considered separate establishments, but rather the permament offices from which the properties are leased or managed are considered establishments.  "Lessors of Residential Buildings" (NAICS code 531110) comprises establishments primarily engaged in acting as rental agents for apartments and other rental housing. The establishments in this category include owner-lessors; establishments in this category may manage the property themselves or have another establishment manage it for them. "Residential Property Managers" (NAICS code 531311) comprises establishments primarily engaged in managing residential real estate for others. Establishments and employees are assigned to only one industry, so there is no double counting in the figures above. Neither of these listings include establishments or employees of Real Estate Investment Trusts, which are treated by the Census Bureau as a separate industry. Updated 7/2017.