Progress Residential Highlights Contributions to Economy and Local Communities
Invested Approximately $21 Billion in U.S. Homes Since Founding in 2012
Published Individual State Statistics on Website
Scottsdale, Ariz – June 28, 2022 – Progress Residential, the leading single-family rental management services platform, today announced its nationwide economic impact and highlighted its contributions to local economies across the United States.
“As members of the very communities we serve, a hallmark of our company culture is making a positive local impact,” said Adolfo Villagomez, Chief Executive Officer of Progress Residential. “Over the last decade, Progress Residential has been a significant economic driver in each of our markets, and we look forward to continuing to build on our efforts for many years to come.”
Since its founding in 2012, Progress Residential has contributed to local communities by:
· Investing approximately $21 billion in U.S. homes;
· Renovating 100% of homes at acquisition or vacancy; and
· Serving over 520,000 total residents.
Additional highlights of Progress Residential’s economic impact include:
· Over 85,000 single-family rental homes today;
· Over 2,500 employees;
· Over 2,600 homes being built;
· Over $50,000 average direct investment in homes over 5-year period;
· Over $707 million taxes paid over the last 5 years; and
· Over $111 million rental assistance since March 2020.
Progress Residential also published a State-by-State Factsheet Series, comprising statistics for the Company’s footprint and economic impact for each of the 22 states in which Progress Residential has a presence. Progress Residential encourages those who wish to learn more about its commitment to serving its residents and its communities in each state to visit rentprogressimpact.com.
About Progress Residential
Progress Residential is a market leader in intelligent single-family rental management services, with people, technology, scale, and data-driven solutions that streamline operations, optimize asset performance, and provide an exceptional renting and living experience for our residents. Progress Residential's approximately 2,800 employees currently manage more than 85,000 homes across 30 markets. Progress Residential also offers third-party property management service for investors with mid-to-large single-family rental home portfolios and Built for Rent communities through its Progress Residential Management Services. For more information, please visit www.rentprogress.com.
Vice President Communications and PR