One firm set records for this year’s National Multifamily Housing Council Top 50 roundup of multifamily firms. Greystar now sits at the number one spot in the NMHC’s lists for top apartment owner, manager, and developer in 2024.
This marks the 14th year in a row that Greystar has landed as Top Manager in the NMHC list. Additionally, this is Greystar’s fourth consecutive year as both Top Owner and Top Developer.
As of this year, Greystar owns 108,566 units, manages 798,272 units, and has started development of 9,151 units.
NMHC 50 Largest Apartment Owners
Greystar took the number one spot this year, jumping up from second in 2023. MAA, which owns 100,894 units in 2024, and Morgan Properties, which owns 92,935, took second and third respectively.
Over 80% of Greystar’s owned units are market rate, 17% are student housing units, and 3% are others.
Top Apartment Owners:
- Greystar (108,566 units) rose to first
- MAA (100,894 units) dropped to second
- Morgan Properties (92,935 units) stayed in third
- Nuveen (84,697 units) rose to fourth, from seventh
- AvalonBay Communities (82,565 units) dropped to fifth, from fourth
- Equity Residential (80,191 units) dropped to sixth, from fifth
- The Michaels Organization (77,683 units) rose to seventh, from 13th
- Cortland (74,831 units) dropped to eighth, from sixth
- Monarch Investment (73,026 units) dropped to ninth, from eighth
- The Related Companies, LP (72,423 units) dropped to 10th, from ninth
NMHC 50 Largest Apartment Managers
Greystar stayed in the number one spot this year, marking its 14th year in a row to do so. Asset Living, which manages 291,322 units, jumped from third to second place in 2024. RPM Living manages 226,169 units, rising three spots from sixth to third this year.
Nearly all (92%) of housing units managed by Greystar are market rate, while just under 5% are student housing and 3% are others.
Top Apartment Managers:
- Greystar (798,272) stayed in first
- Asset Living (291,322) rose to second, from third
- RPM Living (226,169 units) rose to third, from sixth
- Willow Bridge Property Company (201,472 units) dropped to fourth, from second
- Curshman & Wakefield (182,214 units) dropped to fifth, from fourth
- FPI Management, Inc. (167,767 units) dropped to sixth, from fifth
- Apartment Management Consultants, LLC (145,697 units) stayed in seventh
- Avenue5 Residential, LLC (121,932) rose to eighth, from 10th
- BH (113,993 units) dropped to ninth, from eighth
- WinnCompanies (109,037 units) dropped to 10th, from ninth
NMHC 25 Largest Developers
Greystar rose from second to first place in 2024 for largest developers. Mill Creek Residential started just over 8,000 units in 2023, rising from third place from second this year. Trammell Crow Residential started 5,823 units last year and has gone from fifth place to third in this year’s ranking.
Top Apartment Developers:
- Greystar (9,151 units) rose to first, from second
- Mill Creek Residential (8,022 units) rose to second, from third
- Trammell Crow Residential (5,823 units) rose to third, from fifth
- Wood Partners (5,137 units) stayed in fourth
- Hillpointe, LLC (4,861 units) rose to fifth, from 13th
- Alliance Residential (4,628 units) dropped to sixth, from first
- The Michaels Organization (4,292 units) took seventh
- Core Spaces (4,030 units) took eighth
- Hines (3,670 units) rose to ninth, from 17th
- D.R. Horton Inc. (3,433 units) stayed in 10th
Related Stories
University Buildings | Dec 8, 2023
Yale University breaks ground on nation's largest Living Building student housing complex
A groundbreaking on Oct. 11 kicked off a project aiming to construct the largest Living Building Challenge-certified residence on a university campus. The Living Village, a 45,000 sf home for Yale University Divinity School graduate students, “will make an ecological statement about the need to build in harmony with the natural world while training students to become ‘apostles of the environment’,” according to Bruner/Cott, which is leading the design team that includes Höweler + Yoon Architecture and Andropogon Associates.
MFPRO+ News | Dec 7, 2023
7 key predictions for the 2024 multifamily rental housing market
2024 will be the strongest year for new apartment construction in decades, says Apartment List's chief economist.
Codes and Standards | Dec 7, 2023
New York City aims to spur construction of more accessory dwelling units (ADUs)
To address a serious housing shortage, New York City is trying to get more homeowners to build accessory dwelling units (ADUs). The city recently unveiled a program that offers owners of single-family homes up to nearly $400,000 to construct an apartment on their property.
Student Housing | Dec 5, 2023
October had fastest start ever for student housing preleasing
The student housing market for the upcoming 2024-2025 leasing season has started sooner and faster than ever.
MFPRO+ News | Dec 5, 2023
DOE's Zero Energy Ready Home Multifamily Version 2 released
The U.S. Department of Energy has released Zero Energy Ready Home Multifamily Version 2. The latest version of the certification program increases energy efficiency and performance levels, adds electric readiness, and makes compliance pathways and the certification process more consistent with the ENERGY STAR Multifamily New Construction (ESMFNC) program.
Transit Facilities | Dec 4, 2023
6 guideposts for cities to create equitable transit-oriented developments
Austin, Texas, has developed an ETOD Policy Toolkit Study to make transit-oriented developments more equitable for current and future residents and businesses.
Office Buildings | Dec 1, 2023
Amazon office building doubles as emergency housing for Seattle families
The unusual location for services of this kind serves over 300 people per day. Mary's Place spreads across eight of the office's floors—all designed by Graphite—testing the status quo for its experimental approach to homelessness support.
Industry Research | Nov 28, 2023
Migration trends find top 10 states Americans are moving to
In the StorageCafe analysis of the latest migration trends, each U.S. state was looked at to see the moving patterns of people in the last few years. These are the top 10 states that people are moving to.
Engineers | Nov 27, 2023
Kimley-Horn eliminates the guesswork of electric vehicle charger site selection
Private businesses and governments can now choose their new electric vehicle (EV) charger locations with data-driven precision. Kimley-Horn, the national engineering, planning, and design consulting firm, today launched TREDLite EV, a cloud-based tool that helps organizations develop and optimize their EV charger deployment strategies based on the organization’s unique priorities.
MFPRO+ News | Nov 21, 2023
California building electrification laws could prompt more evictions and rent increases
California laws requiring apartment owners to ditch appliances that use fossil fuels could prompt more evictions and rent increases in the state, according to a report from the nonprofit Strategic Actions for a Just Economy. The law could spur more evictions if landlords undertake major renovations to comply with the electrification rule.