BUDGETING
Key Findings From The 2024-25 Compensation Report
BY MARK WILLIAMS
The Apartment Association of Metro Denver has conducted an industry compensation study every other year since 1999 . Original data for this report was collected in the Fall of 2024 .
36 different management companies participated in a portion or all of the survey , representing nearly 170,000 apartment units . The report reflects data from over 3,500 apartment industry employees in the Metro Denver area who operate and oversee 642 apartment communities . The average community size has 261 units .
Below are some insights we found from the report that can help you with your operations in 2025 .
Compensation Increased 12.6 % Since 2022
In this year ’ s study , we found that there was an overall increase in compensation of 12.6 % since the last time we collected data two years ago . Annualized this would equate to 6.3 % increase per year . The increases ranged between 4.0 % to 14.3 % depending on the position .
Front Line Team Member Positions Increased the Most
Of all of the industry positions surveyed , the Maintenance Tech , Grounds , Leasing and Assistant Manager positions increased the most – all over 14 % ( 7 % annualized ).
The Maintenance Technician wages increased the most at 14.3 % ( 7.1 % annualized ), and the Regional Manager
Pay Increases Since 2022
+ 14.3 % Maintenance Technician + 14.2 % Leasing Consultant + 14.1 % Assistant Manager + 14.0 % Groundskeeper + 13.7 % Maintenance Supervisor + 10.8 % On Site Community Manager + 4.0 % Regional Manager positions increased the least amount at 4.0 % ( 2 % annualized ). We also noted that the Regional Manager average portfolio size decreased on average from 1,580 units to 1,365 units ; perhaps the portfolio ’ s being reduced ( by what amounts to a full community ) may explain the compensation trend .
The front line and on-site teams are doing more with less , with a lower staff position to apartment unit ratio compared to 2022 . Specifically in 2022 there was 1:47 ( staff to unit ratio ) and in 2024 that ratio is now 1:52 . This trend may be a result of more centralization . Another trend we noticed was fewer Assistant Manager positions compared to 2022 .
Regional Manager Portfolio
The average Regional Manger portfolio for the study included 1,580 units , which was typically 6 communities with 33 onsite team
24 | TRENDS JANUARY 2025 www . aamdhq . org