Average Property Management Fees: October 2026
Last updated . All data pieces · Methodology
Most owners look up property management fees when they are about to hand off a rental, or when a manager's proposal lists a monthly charge alongside a string of one-time fees. What an owner pays depends on how the manager prices the work, whether as a share of rent or a flat amount, on which services are bundled, and on the property type, since a single-family rental, an apartment community and an office building are managed on very different terms. A headline percentage leaves out the leasing, renewal and setup charges that often come with it.
The national figure for residential managers in this report is an average advertised management fee of 8.49% of collected rent, from iPropertyManagement's study of 722 branches of 669 property management companies in 80 metro areas across 31 states. The publisher does not state when it collected the fees, and an Internet Archive capture from January 28, 2023 shows the same figures on a version of the page dated September 7, 2022, so they are more than three and a half years old; the page's current update date is September 23, 2026. We compiled eight sources: that study and the archived copy, HUD's calendar year 2026 management fee schedule for HUD-insured multifamily housing, the Institute of Real Estate Management's (IREM) national summary of 2024 operating data and the National Apartment Association's notice retiring that benchmark product, two Producer Price Index series from the Bureau of Labor Statistics (BLS), and Buildium's 2026 survey of property managers. The HUD, IREM, BLS and Buildium figures cover September 2020 through September 2026; the iPropertyManagement figures have no stated collection period. None of these sources measures maintenance markups, vacancy fees or eviction fees, so this report has no figures for them. Year-over-year and five-year index changes are our calculations; every other figure appears as published.
Average Advertised Residential Property Management Fees: 2022 Study
This table answers the keyword directly with the average fee companies advertised for each service, among the companies that publish that fee, as reported by iPropertyManagement and not independently verified.
| Fee | Average advertised fee | Lowest advertised | Highest advertised |
|---|---|---|---|
| Monthly management fee, percentage of collected rent | 8.49% | 3.75% | 14.0% |
| Monthly management fee, flat rate per unit | $101.04 | $49.00 | $250.00 |
| Tenant placement bundled with management, percentage of a month's rent | 70.6% | 6.00% | 125% |
| Tenant placement only, percentage of a month's rent | 81.8% | 8.00% | 150% |
| Tenant placement bundled with management, flat rate | $555.53 | $99.00 | $1,200 |
| Tenant placement only, flat rate | $670.23 | $99.00 | $2,995 |
| Lease renewal, flat rate | $231.77 | $32.00 | $1,000 |
| Lease renewal, percentage of a month's rent | 30.33% | 10.0% | 100% |
| Setup fee, per contract | $185.24 | $45.00 | $850.00 |
| Inspection fee, each | $106.72 | $15.00 | $350.00 |
Source: iPropertyManagement, "Average Property Management Fees," national sample of 722 branches of 669 companies in 80 metro areas across 31 states. Averages cover only the companies that advertise each fee. The study expresses tenant placement and percentage renewal fees as a share of a unit's monthly rent. The same figures appear on a version of the page dated September 7, 2022 (Internet Archive capture, January 28, 2023); the publisher does not state the collection dates.
Charging a share of rent was the most common pricing method in the sample, used by 75.3% of companies. Among companies that charge for lease renewals, 83.4% use a flat fee, and at least 8.17% of companies offer flat-rate tenant placement. Owners comparing firms that manage houses and small rentals can browse our directory of single-family rental property management companies.
Advertised Property Management Fees by State Sample: 2022 Study
iPropertyManagement also reported averages for 16 state samples, which together cover 67.0% of the companies it surveyed. Each figure is an average for the sampled locations in that state, not a statewide average.
| State sample | Locations sampled | Average management fee (% of collected rent) | Average flat monthly management fee | Average tenant placement only (% of a month's rent) | Average tenant placement bundled with management (% of a month's rent) | Average dollar lease renewal fee |
|---|---|---|---|---|---|---|
| Arizona | 47 | 8.92% | $85.42 | 80.9% | 53.9% | – |
| California | 143 | 7.44% | $111.61 | 74.0% | 57.8% | $206.75 |
| Florida | 67 | 9.04% | $107.53 | 88.9% | 74.5% | $270.57 |
| Georgia | 27 | 8.03% | $101.14 | 93.1% | 86.5% | – |
| Idaho | 18 | 7.71% | – | 66.7% | – | $75.00 |
| Michigan | 21 | 8.92% | – | 74.1% | 70.3% | $217.86 |
| Nevada | 21 | 8.57% | $85.67 | 77.1% | 64.6% | $200.58 |
| New Mexico | 14 | 9.79% | – | 54.17% | 60.00% | $62.33 |
| North Carolina | 32 | 8.89% | – | 69.6% | 54.5% | $153.00 |
| Oregon | 12 | 8.43% | – | 62.5% | – | $158.00 |
| South Carolina | 17 | 9.08% | $88.60 | 86.9% | 67.7% | $231.80 |
| Tennessee | 13 | 8.86% | – | 75.0% | 65.9% | $189.29 |
| Texas | 81 | 8.87% | $100.80 | 83.9% | 76.6% | $246.93 |
| Utah | 25 | 8.55% | – | 82.1% | 39.8% | $177.14 |
| Washington | 20 | 9.40% | $155.75 | 80.7% | 70.4% | $199.50 |
| Wisconsin | 10 | 7.10% | $104.33 | 75.0% | – | – |
Source: iPropertyManagement, "Average Property Management Fees," state sample sections. Locations sampled is the number of company locations in each state sample, drawn from two to 14 metro areas. A dash means the study gave no average for that fee in that state, either because too few companies advertised it or because it listed individual fees or a range instead. The same figures appear on a version of the page dated September 7, 2022 (Internet Archive capture, January 28, 2023); the publisher does not state the collection dates.
Six of the 16 samples have fewer than 20 locations. The publisher reports an average management fee of 8.71% of collected rent across all of the state samples combined.
HUD Management Fee Benchmarks for Multifamily Housing: 2026
HUD publishes the 80th percentile of management fees paid in its multifamily housing programs by field office. Public housing agencies may use these amounts to set a reasonable fee for each project, and 80% of the fees in HUD's data are at or below the published amount.
| Field office | Management fee per occupied unit per month | Field office | Management fee per occupied unit per month |
|---|---|---|---|
| Albuquerque | $63.47 | Little Rock | $73.85 |
| Anchorage | $88.24 | Los Angeles | $117.41 |
| Atlanta | $72.37 | Louisville | $75.80 |
| Baltimore | $77.34 | Manchester | $88.03 |
| Birmingham | $66.78 | Miami | $92.08 |
| Boston | $114.75 | Milwaukee | $70.31 |
| Buffalo | $79.66 | Minneapolis | $86.83 |
| Caribbean | $75.14 | Nashville | $72.77 |
| Charleston | $63.28 | New Orleans | $69.77 |
| Chicago | $85.17 | New York | $97.62 |
| Cincinnati | $58.66 | Newark | $86.82 |
| Cleveland | $60.52 | Oklahoma City | $67.11 |
| Columbia | $73.68 | Omaha | $62.27 |
| Columbus | $66.01 | Philadelphia | $69.15 |
| Denver | $73.33 | Phoenix* | $56.81 |
| Des Moines | $60.01 | Pittsburgh | $75.10 |
| Detroit | $67.84 | Portland | $77.98 |
| Fort Worth | $60.70 | Providence | $98.42 |
| Grand Rapids | $56.75 | Richmond | $84.39 |
| Greensboro | $71.92 | Sacramento | $78.40 |
| Hartford | $105.51 | San Antonio | $71.10 |
| Honolulu | $80.64 | San Diego | $95.95 |
| Houston* | $56.57 | San Francisco | $89.44 |
| Indianapolis | $76.36 | Seattle | $79.45 |
| Jackson | $77.20 | Shreveport | $64.82 |
| Jacksonville | $75.69 | St. Louis | $61.52 |
| Kansas City | $63.73 | Tampa | $87.46 |
| Knoxville | $62.38 | Tulsa | $59.18 |
| Las Vegas | $73.09 | Washington, DC | $81.25 |
Source: U.S. Department of Housing and Urban Development, Office of Public and Indian Housing, "CY 2026 Schedule of 80th Percentile of Property Management Fees in FHA Housing by Field Office" (Table 1), based on 2024 and 2025 Annual Financial Statements for unlimited dividend, limited dividend and non-profit properties, effective January 1, 2026. Fees are per occupied unit per month (PUM) and already adjusted for each market's average vacancy loss. *In Houston and Phoenix the 2026 generated fee fell, and the table shows the higher 2025 amount; the 2026 figures would have been $52.11 in Houston and $52.00 in Phoenix.
Nationally, HUD puts the 80th-percentile management fee at $86.83 per unit per month. Its separate 80th-percentile administrative cost, which adds office salaries, legal, bookkeeping, advertising and other administrative lines to the management fee, is $287.64 per unit per month. Our directory of multifamily property management companies lists firms that manage apartment communities.
Management Fees in Multifamily, Office and Industrial Operating Budgets: 2024
IREM's national summary shows the management fee line alongside total gross rents and total operating expenses for three property types, from operating data submitted by IREM, BOMA International and NAA members and other real estate practitioners.
| Property type | Management fees | Total gross rents | Total operating expenses | Unit |
|---|---|---|---|---|
| Multifamily communities | $570.78 | $20,575.41 | $7,981.42 | Annual dollars per unit |
| Office buildings | $0.68 | $22.22 | $10.33 | Annual dollars per square foot |
| Industrial properties | $0.36 | $15.57 | $3.83 | Annual dollars per square foot |
Source: Institute of Real Estate Management, "Income/Expense IQ National Summary: 2024 Operating Data," produced with Lobby CRE, BOMA International and the National Apartment Association. Management fees are from the report's distribution of operating expenses by category; total gross rents include rents, retail rents, parking and other gross rents. The report does not say whether these national figures are averages or medians.
IREM notes that each expense line was analyzed separately, so the categories do not add up to total operating expenses, and we have not divided the management fee line by gross rents for that reason. The National Apartment Association has since retired the Income/Expense IQ product and shut down its benchmark database on December 31, 2025, and says it is evaluating options for the product's future.
Producer Price Index for Property Managers: September 2021 to September 2026
The BLS Producer Price Index tracks the change in prices that property managers receive for their services. It does not measure the level of any fee, but it shows how those prices have moved over the past five years.
| Month | Residential property managers index | Change from a year earlier | Nonresidential property managers index | Change from a year earlier |
|---|---|---|---|---|
| September 2021 | 136.151 | +4.7% | 99.073 | -1.4% |
| September 2022 | 138.955 | +2.1% | 103.692 | +4.7% |
| September 2023 | 140.276 | +1.0% | 113.943 | +9.9% |
| September 2024 | 146.932 | +4.7% | 116.329 | +2.1% |
| September 2025 | 150.409 | +2.4% | 118.597 | +1.9% |
| September 2026 (preliminary) | 157.748 | +4.9% | 128.433 | +8.3% |
Source: U.S. Bureau of Labor Statistics, Producer Price Index by Industry: Residential Property Managers (PCU531311531311) and Nonresidential Property Managers (PCU531312531312), via FRED, Federal Reserve Bank of St. Louis, retrieved October 22, 2026. Index December 2003 = 100, not seasonally adjusted. The September 2026 index is preliminary and subject to revision. Change from a year earlier = (September index ÷ previous September index − 1) × 100, using September 2020 values of 130.000 (residential) and 100.500 (nonresidential) for the first row.
From September 2021 to September 2026, the residential index rose 15.9% and the nonresidential index rose 29.6% (157.748 ÷ 136.151 − 1 and 128.433 ÷ 99.073 − 1). In Buildium's survey of nearly 1,000 U.S. property management professionals in May 2026, 37% said they were raising prices or fees to protect margins, as reported by Buildium and not independently verified.
What Property Management Fee Data Means for Owners
The figures above are reference points, and the fee that applies to a given property is the one written into the management agreement, including the leasing, renewal and setup charges. Our guide on how to choose a property manager covers what to compare in those agreements.
Sources
- iPropertyManagement. "Average Property Management Fees." Last updated September 23, 2026; collection dates not stated. Accessed October 22, 2026. https://ipropertymanagement.com/research/average-property-management-fees
- Internet Archive, Wayback Machine. Capture of iPropertyManagement, "Average Property Management Fees" (page dated September 7, 2022), captured January 28, 2023. Accessed October 22, 2026. https://web.archive.org/web/20230128175446/https://ipropertymanagement.com/research/average-property-management-fees
- U.S. Department of Housing and Urban Development, Office of Public and Indian Housing. "HUD Releases 2026 Public Housing Management Fee Table" (CY 2026 80th percentile management fee and administrative cost schedules). Effective January 1, 2026. https://www.hud.gov/sites/default/files/PIH/documents/CY-2026-PH-Management-Fee-Table.pdf
- Institute of Real Estate Management. "Income/Expense IQ National Summary: 2024 Operating Data." 2025. https://www.irem.org/file%20library/globalnavigation/learning/tools/irem-income-expense-iq-national-summary-24.pdf
- National Apartment Association. "Income/Expense IQ" (product retirement notice). Accessed October 22, 2026. https://naahq.org/research/income-expense-iq
- U.S. Bureau of Labor Statistics, via Federal Reserve Bank of St. Louis (FRED). "Producer Price Index by Industry: Residential Property Managers" (PCU531311531311). Updated October 15, 2026. https://fred.stlouisfed.org/series/PCU531311531311
- U.S. Bureau of Labor Statistics, via Federal Reserve Bank of St. Louis (FRED). "Producer Price Index by Industry: Nonresidential Property Managers" (PCU531312531312). Updated October 15, 2026. https://fred.stlouisfed.org/series/PCU531312531312
- Buildium. "The 2027 State of the Property Management Industry Report" (Buildium's 2026 PM Industry Survey, fielded May 2026). Accessed October 22, 2026. https://www.buildium.com/resource/2027-property-management-industry-report/
Figures are shown as published by the sources named under each table. How we source and correct: editorial and corrections policy. Spotted an error? Contact us.