At New Western, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
Real estate investing is much more than just purchasing a property. For the savvy investor, understanding the full scope of expenses associated with owning rental properties is crucial. One of these key costs is property management fees. If you’re considering handing over the day-to-day operations of your rental property to a professional, this guide will shed light on what you might expect to pay across different regions in the U.S.
Property managers typically charge a percentage of the monthly rent as their fee, although there are also other fee structures like flat fees. On average, these charges range from 5% to 12% of the monthly rent, but the actual rate can vary based on location, the services provided, and the number of properties under management.
Scroll to the end of the post to see a full list of average property management costs for every state and major city in the United States.
National Average Monthly Cost
Nationally, around $250 per month is the nor per property, though some property managers give discounts for multiple properties managed. Also, multi-family properties are usually charged a higher rate than a single family residence2.
Factors Influencing Property Management Fees
When you’re in the realm of real estate investment, being well-versed with the ongoing costs is paramount. Here’s why:
Average Monthly Property Management Cost by State
State | Average Monthly Cost |
---|---|
Alabama | $230 |
Alaska | $260 |
Arizona | $240 |
Arkansas | $220 |
California | $270 |
Colorado | $250 |
Connecticut | $255 |
Delaware | $235 |
Florida | $265 |
Georgia | $240 |
Hawaii | $290 |
Idaho | $225 |
Illinois | $245 |
Indiana | $230 |
Iowa | $220 |
Kansas | $225 |
Kentucky | $228 |
Louisiana | $235 |
Maine | $230 |
Maryland | $260 |
Massachusetts | $265 |
Michigan | $240 |
Minnesota | $242 |
Mississippi | $227 |
Missouri | $235 |
Montana | $220 |
Nebraska | $225 |
Nevada | $250 |
New Hampshire | $238 |
New Jersey | $265 |
New Mexico | $230 |
New York | $280 |
North Carolina | $245 |
North Dakota | $220 |
Ohio | $240 |
Oklahoma | $228 |
Oregon | $255 |
Pennsylvania | $250 |
Rhode Island | $260 |
South Carolina | $238 |
South Dakota | $218 |
Tennessee | $242 |
Texas | $250 |
Utah | $245 |
Vermont | $230 |
Virginia | $258 |
Washington | $265 |
West Virginia | $220 |
Wisconsin | $240 |
Wyoming | $215 |
Monthly Property Management Cost for the Top 100 U.S. Cities (Alphabetical Order)
City | Average Monthly Cost |
---|---|
Albuquerque, NM | $230 |
Anaheim, CA | $270 |
Anchorage, AK | $260 |
Arlington, TX | $250 |
Atlanta, GA | $255 |
Aurora, CO | $252 |
Austin, TX | $255 |
Bakersfield, CA | $245 |
Baltimore, MD | $275 |
Boise, ID | $238 |
Boston, MA | $290 |
Buffalo, NY | $245 |
Chandler, AZ | $245 |
Charlotte, NC | $250 |
Chesapeake, VA | $245 |
Chicago, IL | $295 |
Chula Vista, CA | $255 |
Cincinnati, OH | $245 |
Cleveland, OH | $240 |
Colorado Springs, CO | $250 |
Columbus, OH | $248 |
Corpus Christi, TX | $240 |
Dallas, TX | $265 |
Denver, CO | $265 |
Detroit, MI | $240 |
Durham, NC | $242 |
El Paso, TX | $240 |
Fort Wayne, IN | $235 |
Fort Worth, TX | $255 |
Fremont, CA | $270 |
Fresno, CA | $245 |
Garland, TX | $248 |
Gilbert, AZ | $248 |
Glendale, AZ | $242 |
Greensboro, NC | $238 |
Henderson, NV | $255 |
Hialeah, FL | $260 |
Honolulu, HI | $290 |
Houston, TX | $270 |
Indianapolis, IN | $240 |
Irvine, CA | $270 |
Irving, TX | $255 |
Jacksonville, FL | $245 |
Jersey City, NJ | $280 |
Kansas City, MO | $245 |
Laredo, TX | $230 |
Las Vegas, NV | $260 |
Lexington, KY | $245 |
Lincoln, NE | $230 |
Long Beach, CA | $280 |
Los Angeles, CA | $310 |
Lubbock, TX | $232 |
Madison, WI | $248 |
Memphis, TN | $245 |
Mesa, AZ | $240 |
Miami, FL | $275 |
Milwaukee, WI | $245 |
Minneapolis, MN | $255 |
Nashville, TN | $252 |
New Orleans, LA | $260 |
New York, NY | $320 |
Newark, NJ | $275 |
Norfolk, VA | $250 |
North Las Vegas, NV | $248 |
Oakland, CA | $275 |
Oklahoma City, OK | $238 |
Omaha, NE | $230 |
Orlando, FL | $260 |
Philadelphia, PA | $280 |
Phoenix, AZ | $250 |
Pittsburgh, PA | $250 |
Plano, TX | $255 |
Portland, OR | $265 |
Raleigh, NC | $245 |
Reno, NV | $250 |
Riverside, CA | $255 |
Sacramento, CA | $260 |
San Antonio, TX | $260 |
San Diego, CA | $305 |
San Francisco, CA | $325 |
San Jose, CA | $315 |
Santa Ana, CA | $265 |
Scottsdale, AZ | $255 |
Seattle, WA | $290 |
St. Louis, MO | $240 |
St. Petersburg, FL | $258 |
Stockton, CA | $250 |
Tampa, FL | $260 |
Toledo, OH | $238 |
Tucson, AZ | $235 |
Tulsa, OK | $235 |
Virginia Beach, VA | $255 |
Washington, DC | $305 |
Wichita, KS | $228 |
Winston-Salem, NC | $240 |
Disclaimer: The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only.