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Greystar becomes top apartment owner, manager, and developer in 2024

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Greystar becomes top apartment owner, manager, and developer in 2024

The firm also sits at third in the National Multifamily Housing Council’s 25 Largest Builders list.


By Quinn Purcell, Managing Editor | April 12, 2024
Residential quarter of the aerial suburb with a low-rise new housing development
Photo by Adobe Stock

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:
 

  1. Greystar (108,566 units) rose to first
  2. MAA (100,894 units) dropped to second
  3. Morgan Properties (92,935 units) stayed in third
  4. Nuveen (84,697 units) rose to fourth, from seventh
  5. AvalonBay Communities (82,565 units) dropped to fifth, from fourth
  6. Equity Residential (80,191 units) dropped to sixth, from fifth
  7. The Michaels Organization (77,683 units) rose to seventh, from 13th
  8. Cortland (74,831 units) dropped to eighth, from sixth
  9. Monarch Investment (73,026 units) dropped to ninth, from eighth
  10. 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:
 

  1. Greystar (798,272) stayed in first
  2. Asset Living (291,322) rose to second, from third
  3. RPM Living (226,169 units) rose to third, from sixth
  4. Willow Bridge Property Company (201,472 units) dropped to fourth, from second
  5. Curshman & Wakefield (182,214 units) dropped to fifth, from fourth
  6. FPI Management, Inc. (167,767 units) dropped to sixth, from fifth
  7. Apartment Management Consultants, LLC (145,697 units) stayed in seventh
  8. Avenue5 Residential, LLC (121,932) rose to eighth, from 10th
  9. BH (113,993 units) dropped to ninth, from eighth
  10. 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:
 

  1. Greystar (9,151 units) rose to first, from second
  2. Mill Creek Residential (8,022 units) rose to second, from third
  3. Trammell Crow Residential (5,823 units) rose to third, from fifth
  4. Wood Partners (5,137 units) stayed in fourth
  5. Hillpointe, LLC (4,861 units) rose to fifth, from 13th
  6. Alliance Residential (4,628 units) dropped to sixth, from first
  7. The Michaels Organization (4,292 units) took seventh
  8. Core Spaces (4,030 units) took eighth
  9. Hines (3,670 units) rose to ninth, from 17th
  10. D.R. Horton Inc. (3,433 units) stayed in 10th

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