Property Manager Job Outlook

About as fast as average employment growth is expected. Opportunities should be best for jobseekers with a college degree in business administration, real estate, or a related field and for those who attain a professional designation. Particularly good opportunities are expected for those with experience managing housing for older people or with experience running healthcare facilities.

Employment change. Employment of property, real estate, and community association managers is projected to increase by 8 percent during the 2008–18 decade, about as fast as average for all occupations. Job growth will be attributable to a growing population that will increasingly live in developments managed by third-party property management companies. These developments include apartment buildings, condominiums, homeowner associations, and the fast-growing amount of senior housing. Developments of new homes are increasingly being organized with community or homeowner associations that provide community services and oversee jointly owned common areas requiring professional management. There is also increasing awareness that property management firms help make properties more profitable and improve the resale value of homes and commercial property.

To cater to the increasing population, a small rise in the number of commercial and retail buildings that will need to be managed also will generate jobs for property managers.

Job prospects. In addition to openings from job growth, a number of openings are expected as managers transfer to other occupations or leave the labor force. Opportunities should be best for jobseekers with a college degree in business administration, real estate, or a related field and for those who attain a professional designation. Because of the projected increase in the elderly population, particularly good opportunities are expected for those with experience managing housing for older people and with experience managing healthcare facilities.

Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2010-11 Edition