NAICS 2022
53
Real Estate and Rental and Leasing
Analysis
NAICS 53 is the 2022 sector for real estate and rental and leasing. Census lists 363 example activities under it in the official index.
Between 2018 and 2023 the number of establishments grew 12% and employment rose 8%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.
County Business Patterns counts 469,562 US establishments in this code in 2023, employing 2,391,886 people at an average annual payroll of $70,076 per employee (52nd percentile of national industries). 78% of the establishments have fewer than five employees, which marks it as a small-business industry.
Across its national industries Census lists 363 index entries; typical ones are apartment building rental or leasing, amusement facility rental or leasing, equity real estate investment trusts (REITs), primarily… and agricultural property rental or leasing.
It splits into 3 more detailed codes. The largest by establishments is 531 (Real Estate) with 414,824.
Its more detailed codes are 531 Real Estate (414,824 establishments), 532 Rental and Leasing Services (52,037 establishments) and 533 Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) (2,701 establishments).
Official definition
The Sector as a Whole
The Real Estate and Rental and Leasing sector comprises establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets, and establishments providing related services. The major portion of this sector comprises establishments that rent, lease, or otherwise allow the use of their own assets by others. The assets may be tangible, as is the case of real estate and equipment, or intangible, as is the case with patents and trademarks.
This sector also includes establishments primarily engaged in managing real estate for others, selling, renting, and/or buying real estate for others, and appraising real estate. These activities are closely related to this sector's main activity, and from a production basis they are included here. In addition, a substantial proportion of property management is self-performed by lessors.
The main components of this sector are the real estate lessors industries (including equity real estate investment trusts (REITs)); equipment lessors industries (including motor vehicles, computers, and consumer goods); and lessors of nonfinancial intangible assets (except copyrighted works).
Excluded from this sector are establishments primarily engaged in renting or leasing equipment with operators. Establishments renting or leasing equipment with operators are classified in various subsectors of NAICS depending on the nature of the services provided (e.g., transportation, construction, agriculture). These activities are excluded from this sector because the client is paying for the expertise and knowledge of the equipment operator, in addition to the rental of the equipment. In many cases, such as the rental of heavy construction equipment, the operator is essential to operate the equipment. Also excluded from this sector are mortgage REITs and establishments primarily engaged in managing the financial portfolio assets of REITs on a fee or commission basis. These establishments are classified in Sector 52, Finance and Insurance.
Source: US Census Bureau, NAICS 2022 Manual.
Index entries (363)
- Apartment building rental or leasing
- Amusement facility rental or leasing
- Equity real estate investment trusts (REITs), primarily leasing miniwarehouses and self-storage units
- Agricultural property rental or leasing
- Agencies, real estate
- Apartment managers' offices
- Commercial property managing
- Appraisal services, real estate
- Agencies, real estate escrow
- Automobile rental
- Automobile leasing
- Bus rental or leasing
- Air-conditioner rental
- Bridal wear rental
- Cassette, prerecorded video, rental
- Crutches, invalid, rental
- Beach chair rental
- Carpet and rug, residential, rental
- General rental centers
- Aircraft rental or leasing without operator
- Bulldozer rental or leasing without operator
- Cash register rental or leasing
- Agricultural machinery and equipment rental or leasing
- Brand name licensing