Property and Real Estate Managers
Wages & Outlook
Wages
Some apartment managers live in the building they manage. Employers may provide the apartment as part of their salary. Some property managers may use a company car. Those who work in land development may receive bonuses from projects they develop.
Pay varies with the employer's size, the property's location, and the type of property managed. Property and real estate managers who have more experience and training earn more than those who are new to the occupation.
Property and real estate managers who work full time usually receive benefits. These benefits may include health insurance, sick leave, and paid vacation. Managers who are self-employed must provide their own insurance.
View the Regional Wage Comparison Chart for:
Employment
In Minnesota, about 4,021 property and real estate managers work in this medium-sized occupation.
About 51 percent of property and real estate managers are self-employed.
Major employers:
- Apartment complexes
- Property management firms
- Real estate agencies
Outlook
As the population ages, more assisted care and retirement communities will be built. This will increase the need for property managers. In addition, as the population grows more people will be living in apartment buildings, condominiums, and housing developments with homeowner associations. To help make these housing areas successful, owners hire real estate and property managers.
Many jobs will be available as property managers move to other occupations or retire. Job opportunities will be excellent for those with experience managing housing for older people and with experience managing health care facilities.
| Employment | Employment Change | |||
|---|---|---|---|---|
| 2010 | 2020 | Number | Percent | |
| U S | 303,900 | 322,200 | 18,400 | 6.1% |
| Minnesota | 5,062 | 5,474 | 412 | 8.1% |
| 2010 | 2020 | Number | Percent | |
| Central Minnesota | 478 | 547 | 69 | 14.4% |
| Northeast Minnesota | 231 | 250 | 19 | 8.2% |
| Northwest Minnesota | 256 | 307 | 51 | 19.9% |
| Southeast Minnesota | 325 | 364 | 39 | 12% |
| Southwest Minnesota | 270 | 297 | 27 | 10% |
| Seven County Mpls-St Paul, MN | 3,548 | 3,753 | 205 | 5.8% |
Source: Minnesota Department of Employment and Economic Development and Minnesota Department of Education.
