Property management jobs were in high demand in the third quarter, according to the latest jobs report from the National Apartment Association (NAA).
Nearly 38 percent of available real estate jobs in the U.S. were in the apartment sector during the third quarter of 2021, exceeding the five-year average of 35.6 percent, the NAA Education Institute said in its third quarter Apartment Jobs Snapshot.
However, apartment job availabilities have muted year-over-year. The annual decline in apartment job postings reflects that other property sectors are recovering from the pandemic.
Robust apartment demand and rent growth generated the revenue property management companies needed to grow their onsite teams. According to RealPage, annual absorption reached 610,715 units in the third quarter. Average effective rent increased 11 percent since the same time last year.
Robust leasing activity during the third quarter of 2021 yielded strong demand for skilled professionals.
Property management professionals were the most sought-after during the quarter however job postings declined slightly year-over-year in the third quarter.
Demand for maintenance positions also fell by 2.5 percentage points year-over year. The decline in hard-to-fill maintenance job postings suggests that companies may be deciding to hire vendors to handle maintenance and repairs as salary expectations have increased.
Dallas, Los Angeles, Seattle, Washington, D.C and Phoenix were the leading markets for the highest concentration of apartment job openings. Demand for student housing talent was strongest in Austin, Columbus, Gainesville, Houston and Tallahassee.