Top 5: Q1 Property Manager Turnover

With average occupancy and apartment demand both declining in the first quarter, top-level talent on site is even more important. In this edition of the Top 5 series, the most active markets for property manager turnover are listed. Overall, turnover activity has been much higher in the first three months of 2022 than in the same period last year. ALN logged just more than 11,000 manager changes in the quarter – about 60% more than in Q1 2021.

MarketQ1 2022 ChangesQ1 2021 Changes
Dallas - Fort Worth720489
Houston570281
Atlanta465281
Seattle379188
Phoenix328136

Of course, total manager changes is not the only metric to use when evaluating turnover. In the table below, the top five markets among ALN Tier One markets, the 33 largest multifamily markets in the US, are listed with the rank based on the percentage of total properties in the market represented by the manager changes. For most of the areas on the list, Q1 2022 saw an increase in turnover activity.

MarketQ1 2022Q1 2021
Austin21%21%
Atlanta21%16%
Phoenix21%10%
San Antonio20%15%
Houston19%12%
Takeaways Episode 21

Takeaways Episode 21

In our series Takeaways, ALN Apartment Data Senior Market Analyst, Jordan Brooks, shares more insight into the final thoughts on the April 2022 newsletter article,…
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