Commercial Property Management Company Revenue Benchmark

Average Commercial Property Management Company Revenue per Year 2022 Economic Census

The 2022 Economic Census counts every nonresidential property management firm with paid employees and publishes their combined annual receipts, meaning the management fees and reimbursements the firms earn rather than the rents of the buildings they manage. Dividing that total by the number of firms gives the average annual revenue per employer establishment shown below.

≈$2,186,000 /year

Average annual gross revenue per employer establishment

How this is calculated: about $39.5 billion in combined annual receipts divided by 18,069 employer establishments works out to an average annual revenue of $2,186,000 per employer establishment.

Scope: Nonresidential Property Managers, NAICS 531312. The Census category is Nonresidential Property Managers, which counts firms managing office, retail, industrial and institutional property for owners. Residential property managers and property owners leasing their own buildings are counted in separate categories. Classified separately in group 5313: 531311 Residential Property Managers; 531320 Offices of real estate appraisers; 531390 Other Activities Related to Real Estate. Nothing outside that code is counted on this page.

Source US Census Bureau, 2022 Economic Census, Summary Statistics (ECNBASIC): ESTAB, RCPTOT and PAYANN by NAICS · Vintage 2022 Economic Census · Calculation BusinessNES · Accessed September 2026

Employer Establishments at Year Five Industry group

Activities Related to Real Estate, NAICS 5313, the 2018 starting count compared with the count of five-year-old establishments in 2023.

Across the 2014 to 2018 cohorts, five-year results ranged from 56.0 to 62.8 percent. This benchmark covers Activities Related to Real Estate, NAICS 5313, as a whole, and this category accounts for 18,069 of the 109,031 employer establishments in it. A count by age is not a survival rate, because the figures compare two headcounts rather than follow one set of businesses.

Payroll as a Share of Revenue Official data

Payroll divided by receipts, both as published for the same year.

Payroll share of receipts, Nonresidential Property Managers, United States, 2022 Economic Census.

Approximately 38.0 percent of every revenue dollar goes to annual payroll, a substantial share because property managers, engineers and accounting staff are the service, and because on-site building staff are often on the manager's payroll and reimbursed by the client.

Payroll here excludes benefits, employer taxes and owner compensation, and revenue here means fees and reimbursements, not the rents of the buildings managed, so the figure describes the management business rather than the real estate.

Business Scale and Ownership Structure Official data

How large the average establishment is, and whether the population is independent operators or multi-site companies.

Scale and ownership, Nonresidential Property Managers, United States, 2022 Economic Census.

The average establishment employed about 9.2 people, and the industry counted 1.1 employer establishments per firm. A firm of that size employs property managers with accounting and maintenance coordination staff, and the establishments per firm figure shows that regional and national management companies operating several offices sit alongside single-office firms.

These are arithmetic industry averages. They state the size of the average establishment and show that multi-establishment ownership exists. They do not show the distribution of business sizes and they do not measure market concentration.

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Data Source Notice

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures above are from the 2022 Economic Census reference year, released by the Census Bureau in 2024 and 2025; markets have moved since.

Questions Worth Asking BusinessNES analysis

Commercial Property Management Company: what a fee-based service to building owners looks like in one figure.

Before you rely on this benchmark

• How much is fees and how much is reimbursement? Owners often reimburse the manager for on-site staff and pass-through costs, and those reimbursements can appear in receipts alongside management fees. The revenue figure may include money that passes straight through to building payroll.
• How much space is under management? Fees scale with the square footage and rent of the portfolio, so a firm managing a few large office towers and one managing dozens of small retail centers can report similar revenue from very different work. Portfolio size is not published here.
• Office, retail or industrial? Office buildings need engineering and tenant services, retail centers need marketing and common area management, and industrial parks need little of either. The property mix shapes staffing and fee levels in ways the average cannot show.
• What is happening to the buildings? Vacancy in office markets, changing retail and the growth of industrial space affect the rent base on which fees are calculated. A management firm's revenue follows the fortunes of its clients' buildings.
• Does the firm also lease or broker? Leasing commissions, construction management fees and brokerage can add substantially to a manager's revenue, and some firms are part of larger real estate service companies. What sits inside receipts depends on the firm's mix of services.
• How stable are the contracts? Management agreements can be terminated on notice or lost when a building is sold, so a firm's revenue depends on retaining owners through ownership changes. Client concentration and contract terms are invisible in a revenue average.