Apartment Jobs Snapshot Q1 2021
- Apr 27, 2021
In this edition of NAAEI’s Apartment Jobs Snapshot, nearly 37 percent of available real estate jobs in the U.S. were in the apartment sector during first quarter of 2021, well above the five-year average of 28.6 percent. Multifamily talent was in high demand likely due to increased leasing activity. Property management professionals were the most sought after during Q1 2021. Maintenance positions had the largest growth in demand year-over-year with an increase of 2.1 percentage points. Leasing job vacancies fell nearly 1.0 percentage point.
Dallas; Los Angeles; Washington, D.C. and Seattle continued to rank highest for concentration of apartment job availabilities during Q1 2021. In Gateway markets such as New York City, existing renters are signing new leases at historically high levels, although occupancy rates continue to weaken. This indicates that concessions and reduced rental rates are attracting existing renters instead of prospective renters.
During March, Kansas City, Mo; Seattle; Dallas; Houston and Virginia Beach, Va.; led the nation in available apartment positions as measured against the entire real estate sector. During the past 12 months ending March 31, 2021, demand for student housing management talent was highest in Austin, Columbus, Ohio; College Station, Texas; Tucson, Ariz.; and Tallahassee, Fla. Leasing consultants were the most sought-after position by employers. In February, the average number of new leads per unit reached 1.8, 48 percent higher than January 2021 and 91 percent higher than February 2020.