Some apartment managers are responsible for hundreds of units.
Unless you want to rent a house or condo, you'll likely rent an apartment via an apartment manager. These real estate workers are responsible for overseeing all aspects of the properties they rent, such as maintenance and leasing. While pay for some property managers doesn't reach $12 an hour, others turn their work into six-figure salaries.
Standard Salaries
The Bureau of Labor Statistics includes apartment managers in the "property, real estate and community association managers" category. The BLS states that the average yearly salary for the category is $58,660, or about $28.20 per hour. Its data also shows that salaries for apartment managers in the lowest 10th percentile of earners is $23,890, or $11.48. Those in the 90th percentile make $104,400, or $50.19.
Because the BLS includes real estate professionals other than apartment managers in the "property, real estate and community association managers" category, it's beneficial to look at figures from other sources that provide estimates just for apartment managers. Estimates vary based on which source you use. The average yearly salary is $38,000 as of March 2011, says the Indeed website. Apartment managers make between $39,012 and $64,510 based on 2010 data from the Salary website. The range is $46,400 to $64,800 as of 2011 according to the Page Rank Studio website.
Pay by Region
Apartment managers earn the highest salaries in Pennsylvania ($74,990), Massachusetts ($77,680), Delaware ($84,530), Virginia ($84,680) and New York ($91,630). However, pay can be as low as $28,440, as indicated by estimates for Montana.
Management Level
The level of management an apartment manager has to perform impacts her pay. Assistant managers have salaries around $34,000, according to the National Apartment Association. Senior apartment managers make about $62,000. By the time an apartment manager is vice president of property operations, pay is $160,000.
Number of Units
Apartment mangers make more money if they are in charge of a larger number of properties, as more units translates to more responsibility and, occasionally, more work hours. Those who manage under 300 units make $46,400. Those in charge of properties with 300 to 500 units make $55,800, and those who run large properties of 500 or more apartments earn $64,800.
Additional Monies and Benefits
Apartment managers often are also paid a commission on every apartment they lease. They also may live in one of the apartments in the property they manage for free or at a greatly reduced rent rate.
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