Analysis
NAICS 53131 is the 2022 NAICS industry for real estate property managers, part of 5313 (Activities Related to Real Estate). Census lists 28 example activities under it in the official index.
Between 2018 and 2023 the number of establishments grew 14% and employment rose 15%. 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.
By establishments it ranks 1st of the 3 codes at this level within Activities Related to Real Estate, with 69% of them.
County Business Patterns counts 78,886 US establishments in this code in 2023, employing 707,721 people at an average annual payroll of $66,251 per employee (45th percentile of national industries). 65% of the establishments have fewer than five employees, which marks it as a small-business industry.
Census lists 5 related activities that belong elsewhere, most often in 5311, 81399, 56121 and 53121. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.
Across its national industries Census lists 28 index entries; typical ones are apartment managers' offices and commercial property managing.
Official definition
This industry comprises establishments primarily engaged in managing real property for others. Management includes ensuring that various activities associated with the overall operation of the property are performed, such as collecting rents and overseeing other services (e.g., maintenance, security, trash removal).
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Acting as lessors of real estate | 5311 Lessors of Real Estate |
| Establishments formed as associations on behalf of individual condominium owners or homeowners | 81399 Other Similar Organizations (except Business, Professional, Labor, and Political Organizations) |
| Providing operating staff to perform a combination of services to support operations within a client's facilities | 56121 Facilities Support Services |
| Renting real estate on behalf of owners | 53121 Offices of Real Estate Agents and Brokers |
| Operating short-term lodging facilities, such as hotels, motels, casino hotels, and bed-and-breakfast inns | 7211 Traveler Accommodation |
Index entries (28)
- Apartment managers' offices
- Commercial property managing