The pay rate of property managers varies within the industry. Factors such as skill, years of experience, type of employment and geographic location all contribute to the annual salary. In 2002, the median pay rate for property managers was about $36,880. The low end of the scale earned approximately $17,450 and the high end earned around $86,650 annually. In addition to the basic benefit package, onsite property managers receive the use of an apartment within the vicinity. Also, property managers are usually reimbursed for the use of personal vehicles.
The demand for property managers is estimated to grow as fast as the average for all other occupations in the United States. The employment rate for property management positions is expected to jump about thirteen percent during the next ten years. This means that approximately 9,200 job positions will open up each year.
Due to the estimated expansion of the real estate industry, increasing job growth among onsite property managers is expected. Another reason for the jump in job positions can be attributed to the increase in the United States stock of apartments, houses and office buildings. Additionally, developments of new homes are being organized more often with community and homeowner associations. These associations supply community services that require professional property management.
