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Leading apartment owners in the U.S. 2020, by units owned

The largest owner of apartments in the United States is Tennessee-based real estate investment trust MAA, who owned 100,031 apartments as of 2020.

Real estate investment trusts

The majority of the largest owners of apartments in the U.S. are real estate investment trusts (REITs), which are companies who own (and usually operate) income producing real estate. REITs were created in 1960, when the Cigar Excise Tax Extension permitted investment in large-scale diversified real estate portfolios through the purchase and sale of liquid securities. This effectively aligned investment in real estate with other asset classes. In 2018, there were 226 REITs in the United States, who owned a combined 821 billion U.S. dollars of assets, and who had a combined market capitalization of one trillion U.S. dollars.

Apartments in the United States

The rental return for apartments in the U.S. has been steadily climbing in recent times, with the national monthly median rent for an unfurnished apartment steadily increasing between 2014 and 2018. Over this time apartment vacancy rates have been steadily decreasing across the country, suggesting that demand is current above supply. Accordingly, large-scale investment in apartments by REITs is likely to continue into the foreseeable future.

Leading apartment owners in the United States in 2020, by units owned

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Release date

April 2020


United States

Survey time period


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Statistics on "Apartments in the United States"

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