The U.S. property management services market size is anticipated to reach USD 7,660.8 million by 2033 and is expected to expand at a CAGR of 6.6% during the forecast period, according to a new report by Grand View Research, Inc. Market growth is driven by a confluence of technological, demographic, and economic factors that are reshaping the real estate landscape.

One of the most significant drivers is the increasing adoption of advanced digital solutions, including artificial intelligence, Internet of Things (IoT), and cloud-based platforms. These technologies have revolutionized property management by streamlining lease administration, maintenance scheduling, tenant communication, and financial reporting. As property managers seek greater efficiency and improved tenant experiences, integrating PropTech tools has become a strategic imperative, fueling demand across residential and commercial segments.

Demographic shifts also play a pivotal role in market expansion. The growing preference for rental housing among millennials and Gen Z, coupled with urbanization trends, has led to a surge in demand for professionally managed rental properties. This shift is particularly evident in metropolitan areas where housing affordability challenges and lifestyle flexibility prompt individuals to opt for rental accommodations. Consequently, property management firms are expanding their portfolios and service offerings to cater to this evolving tenant base, thereby driving market growth.

Moreover, the COVID-19 pandemic acted as a catalyst for digital transformation within the property management sector. With in-person interactions limited, agencies rapidly adopted virtual leasing platforms, remote maintenance coordination, and digital payment systems to maintain continuity. These innovations addressed immediate operational challenges and set new standards for convenience and responsiveness, which continue to influence consumer expectations and industry practices post-pandemic.

Economic factors such as rising property values and increasing complexity in regulatory compliance have further underscored the need for professional management services. Property owners increasingly rely on specialized firms to navigate legal requirements, optimize rental income, and ensure asset preservation. This reliance is especially pronounced in high-demand markets like California and New York, where property management expertise is essential for maintaining profitability amid fluctuating market conditions.

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Further key findings from the report suggest:

  • By service, rent collection segment is expected to grow at a considerable CAGR of 6.9% from 2025 to 2033 in terms of revenue.
  • By property type, commercial segment is expected to grow at a considerable CAGR of 7.1% from 2025 to 2033 in terms of revenue.
  • By end user, housing association segment is expected to grow at a considerable CAGR of 7.0% from 2025 to 2033 in terms of revenue.
  • The U.S. property management services market is expected to grow at a CAGR of 6.6% over the forecast period.
  • In May 2025, Lincoln Property Company expanded its property management services in Southern California through a strategic investment in Unire Real Estate Group. This move strengthens its regional presence, enhances service capabilities, and supports growth in the competitive Southern California real estate market.

U.S. Property Management Services Market Segmentation

Grand View Research has segmented the U.S. Property Management Services market based on product type, service, and end-user.

  • Service Outlook (Revenue, USD Million, 2021 - 2033)
    • Rent Collection
    • Mortgage & Utility Payment
    • Leasing
    • Legal & Accounting Services
    • Repair & Maintenance
    • Other
  • Property Type Outlook (Revenue, USD Million, 2021 - 2033)
    • Residential
    • Commercial
    • Industrial
    • Others
  • End-user Outlook (Revenue, USD Million, 2021 - 2033)
    • Property Managers or Agents
    • Housing Association
    • Others

List of Key Players in the U.S. Property Management Services Market

  • Greystar
  • Lincoln Property
  • Asset Living
  • FPI
  • Alliance Residential
  • FirstService Residential
  • Evernest
  • Darwin Homes
  • HomeRiver Group
  • Northpoint

About Grand View Research:

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.

For more information, visit www.grandviewresearch.com.