Executive Summary
The Q1 2025 Apartment Labor Market Dynamics report examines data on apartment job postings, trends in labor market demand and supply, and year-over-year variations in advertised salaries, both nationally and at market levels, while also addressing the changing skill requirements in the multifamily housing sector.
Job Postings Trends
According to Lightcast data, total job postings in the multifamily housing industry reached 45,953 by the end of Q1, marking a 6.3% decrease compared to the previous year. Among various job categories, corporate roles were the only ones to see an increase in postings year-over-year. On the other hand, roles related to maintenance, property management and leasing experienced a year-over-year decline. This trend likely reflects broader economic trends and a shift in industry demands. The increase in corporate roles may be due to companies expanding their administrative and strategic operations to navigate market challenges. Conversely, the decline in maintenance, property management and leasing roles could be attributed to centralization and changing job functions.
Salary Trends
Despite a significant decrease in year-over-year job postings in Q1 2025, advertised salaries rose nationally across major job categories. The exception was the salary category for property managers, where median salary growth remained stable. Maintenance technicians saw a 2.2% salary increase, leasing professionals saw a 3.9% increase and maintenance supervisors experienced a 3.2% increase.
Employer Activity
There was a 10.6% year-over-year drop in the number of employers actively recruiting.
Top Markets and Skills
The metro regions of Dallas-Fort Worth, Atlanta, Los Angeles, New York, Seattle and Washington, D.C., posted the highest demand for apartment jobs in the first quarter. Key skills in demand included customer service, property management, initiative and leadership, and effective communication. The skills reflect the industry's ongoing focus on resident engagement, leadership skills, management and communication proficiency.
Q1 2025 Job Postings Growth
In Q1 2025, national salary trends across major job categories were stable or showed an increase, with no decline. However, there were significant regional differences.
The advertised salary growth for property managers remained stable nationally. However, salaries declined sharply in Atlanta (-12.8%), New York (-5%) and Los Angeles (-1.3%), while they grew in Washington, D.C. (+0.2%) and Seattle (3.3%). This reduction in salaries in certain metro areas was driven by year-over-year declines in job postings across all major categories, indicating less competition for talent among employers.
Leasing professionals saw the highest year-over-year growth in advertised salary, both nationally and in metro areas. Los Angeles (+6%), Washington, D.C. (+10.2%) and New York (+14%) surpassed the national median annual growth.
Overall, Dallas and New York showed the highest volatility across roles, while maintenance technician and leasing professional positions saw stronger salary growth compared to maintenance supervisory and property manager roles.
National vs. Metropolitan Median Advertised Salary: Q1 2025 YOY% Growth
Level of Experience Demanded on Q1 2025 Job Postings
Growth Comparison in Metropolitan Areas
Top 5 Skills by Job Category
In the first quarter of 2025, the most desired skills in the multifamily housing sector were Property Management and Communication. Property Management joined the top three skills from the previous quarter, which include customer service, initiative and leadership, and communication. While employers are increasingly valuing individuals with a customer-focused mindset and abilities that improve the resident experience, expertise in property management is becoming an essential skill.
Q1 2025 Skills Comparison: Supply vs. Demand
The chart above compares employer demand for various skills (measured by % of total job postings) against the available talent supply (measured by % of individual’s online profiles with those skills). Employers are looking for customer service, communication, management, operations, real estate and management software skills more than job seekers are advertising it. This represents an opportunity for job seekers to gain or build on these skills to be more marketable in the industry.
When analyzing Microsoft application skills specifically, it’s clear that proficiency in specific tools are valued differently in the apartment job market. Microsoft Excel and Office show an even balance between supply and demand. Outlook, on the other hand, stands out. There are more job postings requiring Outlook than there are profiles listing it, which suggests that candidates may be underestimating its value. Meanwhile, Word and PowerPoint skills are oversupplied, meaning more people list them than roles actually require. These may be seen as baseline skills and may not necessarily boost candidates’ profiles on their own.
Top Changing Skills on Jobs Posted for Leasing Professionals
Skill Volatility
The data illustrated in the chart above highlights the evolving skill requirements for leasing professionals as of Q1 2025. There is a noticeable decline in certain skills identified in job postings; for instance, areas like marketing strategies, property leasing, and lease contracts have seen a decrease, whereas skills such as community marketing and internet marketing have gained importance. This shift indicates that employers are focusing on candidates who possess technological expertise in marketing to improve resident engagement, communication, and retention. Additionally, the decline in property leasing, lease contract and market research skills may be linked to the integration of AI and other technological tools that support on-site teams.
