Multifamily Ownership Is Highly Fragmented

• No one player owns more than 1% of U.S. apartments.
• The top 50 owners combined own only 11% of U.S. apartments.
• In most other major industries, a single company typically owns more market share than the top 50 largest apartment owners combined have of the apartment market.
• The low teens ownership percentage range has been pretty stable for decades:

It’s interesting to note that while the largest apartment owners actually have fewer units than they did 11 years ago, the largest third-party property managers have growth the number of units they manage significantly.

Source: Jay Parsons