Real estate

Industry Sub-Sector

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Workforce Population

2.62M

2020

Average Employee Age

45.8

2020

Estimated Job Growth

−0.53%

10-Year Projection

Average Salary

$64,421

2020

Average Male Salary

$74,199

2020

Average Female Salary

$53,003

2020

About

The top three occupations in the Real estate Industry Sub-Sector are real estate brokers & sales agents, property, real estate, & community association managers, and janitors & building cleaners. On average, full-time employees in the Real estate Industry Sub-Sector work 44 hours per week and have an average annual salary of $72,819. Part-time employees in the same industry work 21.6 hours and earn an average annual salary of $29,342.

The locations with the highest concentration of employees in the Real estate Industry Sub-Sector are Aventura City & Surfside Town PUMA, FL, Miami City (East) & Key Biscayne Village PUMA, FL, and Calabasas, Agoura Hills, Malibu & Westlake Village Cities PUMA, CA.

The workforce of Real estate Industry Sub-Sector in 2020 was 2,624,827 people, with 46.1% woman, and 53.9% men.

In 2020, 75.3% of the workforce in the Real estate Industry Sub-Sector was White (1,975,366 people), of which 46.7% were women and 53.3% men.

Photo by Sherwood CC

Finance & Insurance, and Real Estate, Rental & Leasing

Employment & Salaries

A snapshot of workforce, wages, and opportunities in the Real estate Industry Sub-Sector.

The workforce in Real estate Industry Sub-Sector was 2,624,827 people and is concentrated in California (353,401 workers). The average annual salary was $64,421, being $8,467 more than the national average salary, which was $55,954.

Monthly Employment

Start Year

Y-Axis

4.01%

Year-over-year growth

Employment change between February 2022 and February 2023

As of February 2023, there are 2.39M people employed in the Real Estate and Rental and Leasing industry. This represents a 4.01% increase in employment when compared to February 2022.

This chart shows monthly employment numbers for Real Estate and Rental and Leasing over time (non-seasonally adjusted).

Employment by Location

The states that concentrated the largest workforce in 2020 were California (353k), Florida (242k), and Texas (240k).

This map shows the states in the United States shaded by workforce for Real estate Industry Sub-Sector.

Yearly Wage Ranking

In 2020, Real estate Industry Sub-Sector had an average annual wage of $64,421, $8,467 more than the average national salary of $55,954.

The graph shows the position of Real estate Industry Sub-Sector in the ranking of industries by average annual wage.

Wage Distribution

0.494

WAGE GINI

Real estate has a wage GINI of 0.494, which is more than than the national average of 0.478. In other words, wages are distributed less evenly in Real estate (shown in red) in comparison to the national average for those wage buckets (shown in gray).

The graphic shows the distribution of average salaries by buckets for Real estate Industry Sub-Sector workers compared to the entire workforce in the country.

Occupations

A review of jobs and wages in the Real estate Industry Sub-Sector.

Real estate brokers & sales agents are the most common position with 626,670 workers, but the Real estate Industry Sub-Sector employs a relatively high number of Property, real estate, & community association managers and Janitors & building cleaners.

The highest average salary in Real estate goes to Education administrators.

Occupations Distribution

The graph shows the distribution of employees in the Real estate Industry Sub-Sector according to occupations. In 2020, the occupations that concentrated the largest number of employees in this industry were real estate brokers & sales agents (626,670 people), property, real estate, & community association managers (489,756 people), and janitors & building cleaners (152,458 people)

Wage by Sex in Common Jobs

$74,199

AVERAGE MALE SALARY

±$1,946

$53,003

AVERAGE FEMALE SALARY

±$1,350

On average, Male workers in the Real estate Industry Sub-Sector make 1.4 times more than their Female counterparts. This chart shows the sex-based wage disparity in the 5 most common occupations in the Real estate Industry Sub-Sector.

Business

Estimates of the sources of the costs and the purchasers of the products in the Real estate Industry Sub-Sector. Based on estimates from the Bureau of Economic Analysis, this section indicates the amount of money spent by a specific industry in other industries.

The industrial flow illustrates the intermediate inputs and the use of outputs of the Real estate Industry Sub-Sector.

The Real estate Industry Sub-Sector gets the most input, by its share of the cost of all intermediate inputs, from the Finance, insurance, real estate, rental, and leasing Industry.

Industrial Flow

The closest comparable data for Real estate is from Finance & Insurance, and Real Estate, Rental & Leasing.

Finance, insurance, real estate, rental, and leasing has the highest single input, by dollars, to the Real estate Industry Sub-Sector, and the largest industry purchasing services from the Real estate Industry Sub-Sector is Finance, insurance, real estate, rental, and leasing.

In this flow diagram, all of the industries listed to the left are those places from which the highlighted industry has made purchases. They are the intermediate inputs to the highlighted industry. All those industries listed on the right side are those industries that have made purchases from the highlighted industry. They are the use of outputs of the highlighted industry. The visualizations below offer alternative ways to see and understand this data.

Intermediate Inputs

The closest comparable data for Real estate is from Finance & Insurance, and Real Estate, Rental & Leasing.

HIGHEST INPUT INDUSTRY

The Real estate Industry Sub-Sector gets the most input, by its share of the cost of all intermediate inputs, from the Finance, insurance, real estate, rental, and leasing Industry. This visualization does not include labor and capital costs.

Use of Output by Other Industries

The closest comparable data for Real estate is from Finance & Insurance, and Real Estate, Rental & Leasing.

LARGEST PURCHASING INDUSTRY

The Finance, insurance, real estate, rental, and leasing Industry purchases the greatest share of products and services from the Real estate Industry Sub-Sector in order to produce other goods and services. Purchases of the Real estate Industry Sub-Sector for final consumption by consumers, businesses, or government are not included here.

Diversity

Demographic information on the Real estate Industry Sub-Sector in the US.

Of the total workforce, 46.1% corresponds to women and 53.9% men. Male employees tend to earn more than Female employees, with average respective salaries of $74,199 and $53,003.

75.6% of workers have a bachelors degree, some college or high school or equivalent.

Gender and Age

1,210,845

Women

46.1%

1,413,982

Men

53.9%

The workforce of Real estate industry in 2020 was 2,624,827 people, with 46.1% woman, and 53.9% men.

The visualization shows the distribution of the workforce by gender and age in Real estate industry.

Races

In 2020, 75.3% of the workforce in the Real estate industry was White (1,975,366 people), of which 46.7% were women and 53.3% men.

Other races that concentrated a significant number of workers were Black and Other.

Educational Levels

The main educational levels achieved by the Real estate workers in 2020 were bachelors degree (746,669 people), some college (649,720 people), and high school or equivalent (588,352 people).

The chart shows the Real estate workforce by gender and educational level.

Projections

Growth projections of the Real Estate and Rental and Leasing industry, both by number of employees and output, from the Bureau of Labor and Statistics. The national workforce is projected to grow 7.66% in the next ten years. The Real Estate and Rental and Leasing industry has a lower projected workforce growth at −0.53%. Its projected 10-year growth in output (20.1%) is lower than the projected national growth in output (24.2%).

Job Growth

For growth projections, the closest comparable industry reported by the Bureau of Labor Statistics is Real Estate and Rental and Leasing.

−0.53%

Estimated Job Growth

10-year Projection

7.66%

National Growth

10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Real Estate and Rental and Leasing. This industry is expected to grow less than than 7.66%, the average rate of national job growth.