Property, Real Estate, and Community Association Managers Salary

The median property, real estate, and community association managers salary in the United States is $69,990 per year ($33.65/hour). Salaries range from $41,010 at the entry level to $139,680+ for the top 10% of earners. There are 311,180 property, real estate, and community association managers jobs nationwide. Employment is projected to grow 3.6% through 2034.

Last updated: June 2026 Β· Source: U.S. Bureau of Labor Statistics

Also known asProperty ManagerLeasing AgentHOA Manager
Median Salary
$69,990
per year
Hourly Rate
$33.65
per hour
Employment
311,180
jobs in the U.S.

Salary Distribution

10th percentile
$41,010
25th percentile
$50,720
Median
$69,990
75th percentile
$97,910
90th percentile
$139,680

Job Growth (2024-2034)

+3.6%
As fast as average

Annual Openings

39,000
jobs/year (growth + replacements)

Education Required

High school diploma or equivalent
+ Less than 5 years experience

Training Needed

Short-term on-the-job training

Property, Real Estate, and Community Association Managers Career Guide

Interview questions, resume templates, and a career ladder written specifically for property, real estate, and community association managerss.

Property, real estate, and community association managers run the operations of multifamily apartments, HOAs, condominium associations, and commercial buildings. Multifamily property managers (PMs) live in Yardi Voyager, RealPage, AppFolio, or Buildium β€” leasing office ops, rent collection, work-order triage, resident retention, capex vs opex budgeting, and fair-housing compliance. Community Association Managers (CAMs) run HOAs and condos β€” board relations, reserve studies, ARC (Architectural Review Committee) enforcement, dues collection, and covenant / bylaw enforcement. Comp is bonus-heavy: entry (assistant PM, portfolio manager) $41-58k base; established (community manager) $58-85k base + performance bonus; senior (regional PM, portfolio director) $85-125k base + $10-30k bonus; regional / VP $125-215k+ total comp. Median $69,990; p10 $41,010; p90 $139,680. Top decile is dominated by Greystar, AvalonBay, Camden Property Trust, Related Companies, FirstService Residential, and Associa regional / VP tracks.

Core Skills Hiring Managers Screen For

Property management software (Yardi Voyager, RealPage, AppFolio, Buildium)
Yardi Voyager dominates institutional multifamily (Greystar, AvalonBay, Camden, Equity Residential). AppFolio + Buildium dominate small-to-mid portfolios and single-family / HOA. RealPage is common at mid-size REITs. You'll live in one platform daily β€” mastery of ledgers, delinquency reports, and unit turn workflow is the differentiator.
Leasing + occupancy management
Traffic β†’ tours β†’ applications β†’ approvals β†’ move-in. Own the occupancy % and rent-per-square-foot metric. Know how to run a concession vs a price adjustment. Understand loss-to-lease, gain-to-lease, and economic occupancy β€” not just physical occupancy.
Rent collection + delinquency management
Weekly delinquency reports, 3-day notices, evictions in coordination with counsel. Fair Debt Collection Practices Act (FDCPA) compliance. State-specific eviction timelines and required notices β€” highly variable across jurisdictions.
Fair Housing + ADA compliance
Federal Fair Housing Act (7 protected classes) + state-specific extensions (source of income, veteran status, etc.). Reasonable accommodations + reasonable modifications for disability. ADA compliance in common areas and unit accessibility features. Non-compliance is the single largest legal exposure for a property manager.
Work order + maintenance management
Prioritize emergency (24-hour) vs urgent (72-hour) vs standard (7-day) work orders. Manage in-house maintenance techs + outside vendors (HVAC, plumbing, elevator, roof). Track work-order aging + first-time-fix rate. Preventive maintenance calendar for HVAC, boilers, elevators, and fire life safety.
Budgeting (opex vs capex) + P&L ownership
Annual operating budget: revenue (rent + fees + ancillary) minus opex (payroll, utilities, marketing, maintenance, insurance, taxes). Capex reserve studies (roofs, siding, parking lots, HVAC replacement, elevator modernization). NOI (Net Operating Income) accountability at the community manager level and above.
Resident retention + renewal management
Renewal offers 60-90 days pre-lease-expiration. Renewal rate 55-70% at market-rate apartment communities. Retention drivers: maintenance responsiveness, community programming, competitive pricing, resident-events cadence. Know your turn cost β€” every move-out is $1,500-$4,500 in turn + lease-up cost.
HOA board management + community association operations (CAM specialty)
Board meetings (monthly + annual), reserve studies (every 3-5 years), ARC / covenant enforcement, dues collection, annual budget approval, insurance / master policy, election cycles. Board relationships are the single largest predictor of tenure β€” most CAMs lose accounts because of board dynamics, not operational failures.

How to Become a Property, Real Estate, and Community Association Managers

  1. 1
    High school diploma minimum; bachelor's preferred at institutional multifamily
    Institutional operators (Greystar, AvalonBay, Camden) typically require or strongly prefer a bachelor's for community manager and above; smaller operators + HOA management firms are more flexible. Real estate, business, hospitality, and construction management degrees track well.
  2. 2
    Start as a leasing consultant or assistant community manager
    $38-52k base + commission on leases. Leasing consultants run the front office, close prospects on tours, and process applications. Assistant CMs handle rent collection, delinquency, and back-office. 12-24 months in these roles is the standard entry ramp.
  3. 3
    Move to Community Manager / Property Manager
    $58-85k base + $5-15k performance bonus. Own an entire community (100-400 units at multifamily; 100-600 doors at HOA). Full P&L accountability. NAA CAM (Certified Apartment Manager) or IREM ARM designation is the promotion catalyst.
  4. 4
    Earn the industry designation (CAM, ARM, CPM, PCAM)
    NAA CAM (multifamily) is entry-level. IREM CPM (Certified Property Manager) is the gold-standard senior credential β€” 12-24 months of coursework + experience requirement. CAI PCAM (Professional Community Association Manager) is the gold-standard HOA credential. RPA (Real Property Administrator) is common at commercial.
  5. 5
    Advance to Regional PM / Portfolio Manager / Community Association Manager (senior CAM)
    $85-125k base + $10-30k performance bonus. Regional PMs oversee 4-10 properties (usually 1,000-4,000 units total). Senior CAMs manage a portfolio of 8-20 HOAs. Owns the P&L across the portfolio; manages a team of on-site community managers.
  6. 6
    Optional: VP Operations / Regional VP / Chief of Staff to CEO
    $125-215k+ total comp. Runs a region of 15-40 properties or a portfolio of 40-120 HOAs. Reports to a Chief Operating Officer or Chief Executive of the management company. Requires 10-15+ years and typically the CPM or PCAM.

Career Progression

Leasing Consultant / Assistant Community Manager (entry)
0-2 yrs$38-58k base + $2-8k commission / bonus
  • β€’Run property tours, close prospects on applications, process credit + background checks
  • β€’Handle rent collection, delinquency notices, and resident work-order intake (Assistant CM)
  • β€’Maintain the CRM (Yardi Voyager / RealPage / AppFolio) daily
  • β€’Support the community manager on inspections, renewals, and vendor coordination
Next: Community Manager at 2-4 years, once you've owned the office in the CM's absence and can run the P&L.
Community Manager / Property Manager
3-6 yrs$58-85k base + $5-15k performance bonus
  • β€’Own an entire community (100-400 units multifamily) or an HOA portfolio (3-6 associations)
  • β€’Full P&L: revenue, opex, NOI target
  • β€’Manage 3-8 direct reports (leasing consultants, assistant CM, maintenance techs)
  • β€’Enforce fair housing, ADA, and state-specific compliance
  • β€’Present monthly financial reports to ownership / asset management (multifamily) or the HOA board (CAM)
Next: Sr Community Manager / Regional PM at 5-8 years, after earning NAA CAM or IREM ARM.
Sr Community Manager / Portfolio Manager / Sr CAM
5-10 yrs$75-105k base + $8-22k performance bonus
  • β€’Manage a lease-up (new construction, 200-500 units) or a value-add repositioning
  • β€’Or manage a senior HOA portfolio (8-15 associations, some high-rise / master-planned)
  • β€’Serve as the training mentor for Community Managers in the region
  • β€’Own vendor RFPs and capex project management (roofs, HVAC replacement, exterior refresh)
Next: Regional PM / District Manager / Sr Portfolio Manager at 8-12 years, typically after earning IREM CPM or CAI PCAM.
Regional Property Manager / District Manager / VP of Property Management (small firm)
8-14 yrs$105-155k base + $15-35k performance bonus + auto allowance
  • β€’Oversee 4-10 properties (1,000-4,000 units multifamily) or 15-30 HOA associations (CAM firm)
  • β€’Own the P&L across the portfolio; report to a Regional VP or the COO
  • β€’Hire, ramp, coach, and PIP community managers
  • β€’Own capital projects at portfolio scale + acquisition due-diligence support
Next: Regional VP / Divisional VP at 12-16 years.
Regional VP / Divisional VP / SVP Operations
13+ yrs$155-285k+ base + $25-65k+ performance bonus + LTIP + auto allowance
  • β€’Run a region (15-40 properties or 40-120 HOAs); report to the COO
  • β€’Own the region's P&L, occupancy, resident satisfaction, and NPS metrics
  • β€’Lead multi-year strategy for the region β€” repositioning, dispositions, acquisitions
  • β€’Represent the region on the executive leadership team
Next: COO / President of Management Services / Chief Operating Executive.

Interview Questions & Answers

5 free questions below. Career Kit unlocks 18 total plus resume bullets for every level.

Q1. Walk me through how you'd handle a delinquent resident who's 45 days past due.situational
Follow the state-specific delinquency workflow, not a general script. Day 3-5: written courtesy notice + phone call. Day 10-15: issue the state-required late notice (often a 5-day or 10-day 'pay-or-quit'). Day 20-30: escalate to the eviction process with counsel if a payment plan isn't secured. Never skip the required notices β€” a botched eviction because of missed notice periods costs 60-90 days of lost rent. Document everything in Yardi / RealPage / AppFolio. And run a hardship check β€” sometimes a payment plan + rental assistance referral saves the tenancy and the community.
Q2. How do you approach renewal season?technical
Start renewal outreach 90 days pre-expiration. Segment residents by risk: happy long-tenured (send renewal with modest increase), neutral mid-tenured (call + written renewal offer with 3-year comp analysis), at-risk (in-person conversation from the community manager, not the leasing team). Target renewal rate 60-70% at market-rate; renewal increase must balance NOI growth vs churn (every move-out is $1,500-$4,500 in turn cost + a month of lost rent). Track renewal rate weekly during the renewal window; adjust concessions if the pipeline is falling short.
Q3. Tell me about a Fair Housing situation you had to navigate.behavioral
STAR. Situation: a resident with a mobility disability requested a reserved handicap parking space closer to the entrance β€” an accommodation request. Task: process it correctly under Fair Housing + ADA. Action: I acknowledged the request in writing within 3 business days, offered the reasonable accommodation form, confirmed a healthcare-provider verification was on file (didn't ask for the diagnosis), reserved a specific parking space with signage within 10 business days, and updated the resident file. Result: accommodation granted, no complaint filed. Interviewers screen for whether you know the process β€” never treat accommodation requests informally.
Q4. How do you build a relationship with a difficult HOA board?situational
Every HOA board has a lifecycle β€” you inherit whatever dynamic exists, and CAM tenure at difficult boards is short unless you manage the relationship deliberately. First 90 days: one-on-one with every board member. Understand each member's priorities (some care about landscaping, some about reserves, some about assessments). Establish written communication cadence β€” monthly financial packet, quarterly reserve update, annual community meeting. Never take sides in board conflicts. Bring solutions with cost, risk, and timeline for every ask β€” never bring problems without options. Interviewers screen for board fluency at any senior CAM interview.
Q5. Why property management (or community association management)?culture
Honest answer: you like operational ownership of a physical asset, direct impact on the people who live there, and the mix of financial + operational + interpersonal work. Property management is one of the few careers where a community manager runs a $5-30M revenue business with 3-8 direct reports before age 30. Say why the specialty (multifamily vs HOA vs commercial) β€” the day-to-day rhythms are very different. Multifamily is leasing + retention; HOA is board relationships + reserve planning; commercial is tenant improvements + lease negotiation.

Resume Template β€” Community Manager (3-6 yrs)

Copy these bullets into your resume as a starting point. Career Kit includes bullets for every level of the ladder.

Community Manager (3-6 yrs)
  • β–ΈManaged a 285-unit garden-style community with $6.8M annual revenue; hit 95.2% occupancy and 108% of NOI budget in FY24.
  • β–ΈAchieved 68% renewal rate against a portfolio benchmark of 58%; reduced avg days-to-lease from 14 to 9 via retargeted marketing and a revised tour script.
  • β–ΈCleaned up a $185k delinquency backlog on takeover; brought delinquency to <1.5% of monthly billed within 6 months via structured workflow in Yardi Voyager.
  • β–ΈNAA CAM designation + Fair Housing Compliance Certified. $72k base + $9.5k performance bonus + housing discount.

What Gets You Rejected

  • βœ—Cannot explain the state-specific eviction timeline or notice periods β€” critical legal exposure.
  • βœ—Handles a reasonable accommodation or reasonable modification request informally (verbal only) β€” Fair Housing complaint waiting to happen.
  • βœ—Doesn't know their software (Yardi Voyager / RealPage / AppFolio / Buildium) beyond the leasing screen β€” signals the CM isn't running the P&L in real time.
  • βœ—Cannot articulate NOI, economic occupancy, loss-to-lease, or renewal rate β€” signals the CM treats the role as leasing + move-in, not P&L ownership.
  • βœ—Blames the maintenance team or leasing team for missed KPIs β€” signals weak team leadership.
  • βœ—For CAMs: doesn't have a documented board communication cadence β€” signals reactive board management.
  • βœ—Turnover on the team above 40% annually β€” signals CM isn't retaining leasing + maintenance staff.
  • βœ—No preventive maintenance calendar β€” signals reactive maintenance model that inflates capex and shortens equipment life.

Salary Negotiation Levers

  • βœ“Housing discount at the community β€” 15-25% rent discount is standard at multifamily; can push to 30-40% or free unit at Sr CM at value-add / lease-up communities.
  • βœ“Performance bonus β€” % of NOI target above budget, or a flat bonus tied to occupancy / retention / renewal rate. Sr CM bonuses run 10-20% of base; Regional PM bonuses 15-30%.
  • βœ“Auto allowance / vehicle β€” standard $400-$800/month for Regional PM and above; ask if the property has multiple locations.
  • βœ“Certifications reimbursement β€” CAM, ARM, CPM, PCAM course fees ($500-$3,500 each). Employer sponsorship is standard at institutional operators.
  • βœ“Sign-on bonuses of $5-25k are common at Community Manager and above, especially to leave unvested performance bonus behind.
  • βœ“Lease-up premium β€” new construction lease-ups pay 10-20% above stabilized-community comp. Negotiate this explicitly if you're a lease-up specialist.

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Property, Real Estate, and Community Association Managers Salary by State

Best Cities (cost-adjusted) β†’

Salary Map β€” Click a state for details

$48K
$119Kβ–  No data

Top Paying States

Washington
$119K
+70%
Massachusetts
$103K
+48%
Colorado
$100K
+43%
New York
$99K
+42%
District of Columbia
$94K
+34%
New Jersey
$83K
+18%
Maryland
$82K
+17%
Rhode Island
$80K
+15%
Virginia
$80K
+14%
Oregon
$78K
+12%
Vertical line = national median. Click a state for full details.
StateMedianvs. National
Washington$119,320+70.5%
Massachusetts$103,410+47.7%
Colorado$100,080+43.0%
New York$99,390+42.0%
District of Columbia$94,080+34.4%
New Jersey$82,850+18.4%
Maryland$81,900+17.0%
Rhode Island$80,260+14.7%
Virginia$79,810+14.0%
Oregon$78,060+11.5%
1–10 of 51

Property, Real Estate, and Community Association Managers Salary by Metro Area

Metro AreaMedianvs. National
Spokane-Spokane Valley, WA$128,710+83.9%
Bremerton-Silverdale-Port Orchard, WA$127,630+82.4%
Kennewick-Richland, WA$123,990+77.2%
Seattle-Tacoma-Bellevue, WA$117,990+68.6%
Olympia-Lacey-Tumwater, WA$113,200+61.7%
Wenatchee-East Wenatchee, WA$110,230+57.5%
Boston-Cambridge-Newton, MA-NH$106,050+51.5%
Bellingham, WA$105,280+50.4%
Boulder, CO$103,440+47.8%
Denver-Aurora-Centennial, CO$101,750+45.4%
1–10 of 359
Data Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS). Data reflects the most recent annual survey.
How does this compare to pro athletes?
A property, real estate, and community association managers earning $69,990/year would need 852 years to match Stephen Curry's NBA salary, or 914 yearsto match Patrick Mahomes' NFL contract.
See all sports & celebrity salaries β†’
πŸ“ˆ See how property, real estate, and community association managers salaries have changed over the past decade.
View Property, Real Estate, and Community Association Managers salary trend (2011–2024) β†’