Greystar continues to hold the crown for largest multifamily owner, by apartments owned, in the United States.
The Charleston-based company, led by chief executive officer Bob Faith, this year owns 122,545 units, about 11 percent more than it owned in 2024, when the firm also held the No. 1 title.
Greystar also holds the most student housing apartments among the top 10 owners in the U.S., with just over 17,000 units.
The analysis of the top multifamily owners comes from the industry organization National Multifamily Housing Council, which looked at the top 50 owners of rental properties with at least five apartments and effective control over those properties. These top 50 owners comprise 11 percent of U.S. apartments. The data is up to date as of January 1, 2025.
The second-place title goes to MAA, headquartered in Germantown, Tennessee; its ranking was unchanged from 2024. This year, the firm owns 102,348 units, up approximately 1 percent from the year before.
Among the top 10 apartment owners, Related Companies ranked first for the greatest change in units from 2024 to 2025. The Jeff Blau-led, New York-based firm owns about 14 percent more units this year compared to the year before. However, Related’s almost 84,000 units landed it seventh place among the top owners in 2025.
Related holds another top spot: in 2025, it has the most subsidized units — 57,773, among the top 10 players.
Conshohocken, Pennsylvania-based Morgan Properties, which ranks third among the top owners this year, came in last place in terms of the change in its units owned. The company in 2025 shed about 7 percent of its units from 2024, the greatest drop among this cohort. Only one other company — Cortland — also lost units from 2024 to 2025.
The top 10 ranking saw one new entrant in 2025: Edward Rose Building Enterprise, headquartered in Michigan. The firm this year owns 71,591 units, up from 70,658 units in 2024, which had put the company 11th in the country.
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