Quick Facts: Ownership and Management - - NMHC - National Multi Housing Council

Who Owns the Nation's Apartments
	All Properties	2-4 Unit Properties	5-49 Unit Properties	50+ Unit Properties
Individual Investor	67%	83%	49%	7%
Limited Liability Partnership/General Partnership	7%	3%	10%	30%
Limited Liability Company	13%	6%	22%	42%
Real Estate Investment Trust (REIT)	1%	1%	1%	4%
Real Estate Corporation	1%	0%	2%	3%
Other Corporations	1%	0%	2%	3%
Nonprofit Organization/Housing Cooperative	2%	1%	4%	9%
Other	7%	7%	11%	3%
Total	100%	100%	100%	100%
Source: NMHC tabulations of 2012 Rental Housing Finance Survey microdata, US Census Bureau.Updated 3/2013.

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	710	2,768	334	5,104
Alaska	113	464	38	396
Arizona	892	4,462	705	9,646
Arkansas	552	1,811	177	n/a
California	8,202	37,805	5,793	58,285
Colorado	952	4,406	910	7,397
Connecticut	543	2,861	421	2,899
Delaware	147	628	81	n/a
District of Columbia	300	1,726	148	1,758
Florida	3,483	16,410	2,959	33,271
Georgia	1,566	7,210	933	10,502
Hawaii	284	1,181	209	3,133
Idaho	261	870	208	1,147
Illinois	1,820	11,066	1,250	11,957
Indiana	1,066	5,035	559	6,227
Iowa	538	1,938	241	1,432
Kansas	532	2,325	305	2,162
Kentucky	762	3,162	276	2,255
Louisiana	694	2,530	317	4,009
Maine	230	592	155	1,462
Maryland	945	5,976	745	9,528
Massachusetts	926	6,076	973	10,973
Michigan	1,441	7,309	654	11,814
Minnesota	1,143	5,489	602	9,691
Mississippi	543	1,593	171	1,216
Missouri	1,183	5,701	480	6,301
Montana	215	759	128	683
Nebraska	337	1,464	131	1,418
Nevada	616	3,481	415	5,605
New Hampshire	160	861	170	1,331
New Jersey	2,008	10,222	845	7,624
New Mexico	293	1,215	164	1,031
New York	11,266	42,123	3,871	27,985
North Carolina	1,228	5,162	1,126	9,288
North Dakota	168	520	86	597
Ohio	2,086	9,703	1,296	13,433
Oklahoma	630	2,658	233	2,284
Oregon	1,017	4,079	640	6,955
Pennsylvania	1,701	8,960	782	9,433
Rhode Island	171	1,100	156	1,047
South Carolina	549	3,242	443	5,567
South Dakota	192	716	57	855
Tennessee	943	4,229	530	5,238
Texas	4,376	23,092	2,551	28,103
Utah	309	1,474	354	3,560
Vermont	71	415	90	432
Virginia	1,311	8,619	709	10,517
Washington	1,811	8,450	1,018	7,737
West Virginia	392	1,172	70	437
Wisconsin	1,032	4,343	494	4,720
Wyoming	166	537	55	354
U.S. total	62,876	289,990	36,058	372,262
Source: U.S. Bureau of the Census, 2007 Economic Census http://www.census.gov/econ/census07/ 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.

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