$282.3bn
$XX.Xbn
1m
819k
$XX.Xbn
Revenue for apartment lessors has grown over the five years to 2024. Apartment lessors collect rental income from properties they lease, where market forces largely determine their rates. The supply of apartment rentals has grown slower than demand, which has elevated rental rates for lessors' benefit. Favorable economic conditions and demographic trends during most of the period have driven growth in demand. The spread of COVID-19 lessened demand for apartment rentals, causing a decline in revenue in 2020 and 2021. Revenue has grown since 2022 as higher prices and strong demand have fuelled a robust rental market. Revenue has grown at a CAGR of 2.1% over the past five years and is expected to reach $282.3 billion by the end of 2024. This includes an anticipated 1.0% rise in 2024 alone.
Industry revenue has grown at a CAGR of 2.1 % over the past five years, to reach an estimated $282.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Equity Residential | 13,310.7 | 701.2 | 5.3 | |
FirstService Residential | 7,040.0 | 2,372.5 | 33.7 | |
Greystar Real Estate Partners, Llc | 3,400.4 | 1,145.9 | 33.7 |
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Industry revenue is measured across several distinct product and services lines, including Rental of one-unit structures, Rental of two- to four-unit structures and Rental of five- to nine-unit structures. Rental of one-unit structures is the largest segment of the Apartment Rental in the US.
One-unit structures are becoming more expensive and less popular
Operators in this industry act as lessors of buildings used as residences or dwellings. Industry participants are owner-lessors of residential buildings and establishments that rent real estate and then act as lessors by subleasing it to others. In addition to apartments, the industry also rents single-family homes and town houses.
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NAICS 53111 - Apartment Rental in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The steady rise in property values benefits lessors. Consumers are increasingly being priced out of homeownership while rental rates can be raised.
Learn about an industry's products and services, markets and trends in international trade.
Lessors fight at the top of the rental market. Large, modern, luxury apartment complexes generate the most revenue, leading to an oversupply and heavy competition for the wea...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Renting in the suburbs proves to be lucrative. The high cost of homeownership has led to consumers still renting even when they leave the city.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition is strongest at the top end of the industry. Larger lessors fight tooth and nail to provide the most appealing luxury apartments to generate the best profit margi...
Learn about the performance of the top companies in the industry.
The largest lessors continue to acquire new properties. These owners of expansive portfolios of properties will be able to endure poor economic conditions and capitalize on t...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The homeownership rate determines the potential renter pool. The homeownership rate is estimated to fall in 2024, pushing more to rent.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit remains high for lessors. Rising mortgage rates and overall housing costs make homeownership less attainable for many, pushing them towards renting.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Apartment Rental in the US industry in United States is $282.3bn in 2024.
There are 819k businesses in the Apartment Rental in the US industry in United States, which has grown at a CAGR of 2.3 % between 2019 and 2024.
The market size of the Apartment Rental in the US industry in United States has been growing at a CAGR of 2.1 % between 2019 and 2024.
Over the next five years, the Apartment Rental in the US industry in United States is expected to grow.
The biggest companies operating in the Apartment Rental market in United States are Equity Residential, FirstService Residential and Greystar Real Estate Partners, Llc
Rental of one-unit structures and Rental of two- to four-unit structures are part of the Apartment Rental in the US industry.
The company holding the most market share in United States is Equity Residential.
The level of competition is high and increasing in the Apartment Rental in the US industry in United States.