The State of Multifamily PropTech 2026: What 1,480 Vendors and 463 Integrations Tell Us

BOOSTNOI lists 1,480 software products, service providers and suppliers that sell to multifamily and commercial real estate operators, organized into 156 categories, with 463 vendor-confirmed integrations between them. This report is the first time we have pulled that data together in one place. It covers what the market looks like in October 2026: which categories are crowded, how old and how big the companies are, where they are based, and which platforms actually connect to each other.

Everything below comes from the BOOSTNOI directory as of October 25, 2026. Counts are listings, not companies, unless stated otherwise (1,448 companies stand behind the 1,480 listings). A product that belongs to more than one category is counted in each. The methodology and limits are at the end.

Key findings

• Leasing and marketing is the most crowded category in multifamily technology: 239 software listings, 16% of the directory, more than Payments & Finance and Property Operations combined (207).
• Nearly half of vendors are young. Of the 1,350 listings with a founding year, 46% were founded in 2015 or later and 19% in 2020 or later. The median software company was founded in 2015; the median service provider in 2009; the median supplier in 1996.
• New company formation peaked in 2020 (81 listings founded that year) and has fallen every year since: 67 in 2021, 38 in 2022, 37 in 2023, 28 in 2024.
• Only 13% of listings (194) have at least one confirmed integration on record, and most of those have exactly one. Integration depth is concentrated in a few platforms: Engrain (54 connections), Knock CRM (39), Funnel Leasing (35), ButterflyMX (32) and Rently (31) are more connected than any property management system.
• Among property management systems, Yardi has the most confirmed third-party connections (28), followed by Entrata (26), RealPage (23), Rent Manager (22), ResMan (19), AppFolio (17), Buildium (16) and MRI Software (13). Only 14 products connect to five or more of these eight systems, and one, ButterflyMX, connects to all eight.
• Vendors are overwhelmingly US-based (about 92%), led by California (221 listings), Texas (164), New York (156) and Florida (103). Canada accounts for 6% (82 listings), led by Ontario.
• Pricing is almost never public. 4 of 1,480 listings publish pricing on their profile.

1. Where the vendors are: category sizes

The directory splits into three entity types. Software accounts for 891 listings (60%), services for 410 (28%) and physical suppliers for 138 (9%); 42 listings are not yet categorized. The 29 top-level categories are far from evenly populated.

Two things stand out. First, the front of the funnel is where the money and the crowding are. Leasing and marketing software (AI leasing assistants, internet listing services, CRMs, virtual tours, website builders) plus the agencies in Marketing & Leasing Services add up to 327 listings, 22% of the directory. By contrast, the systems of record that run a property, the 15 property management platforms, are a tiny slice, which is exactly why the integration map in section 4 matters so much.

Second, the back office is thinner than the resident-facing layer. Procurement and vendor management (24), human resources (19) and investment and asset management (45) together have fewer listings than leasing alone. For an operator, that means more choice at the top of the stack and fewer, more entrenched options underneath it.

2. How old the companies are

1,350 of the 1,480 listings carry a founding year. Grouped by era:

The age profile differs sharply by entity type. The median software company was founded in 2015, the median service provider in 2009 and the median supplier in 1996. Among software vendors with a known founding year, 54% were founded in 2015 or later (438 of 812); among suppliers, 24%.

Year by year, the number of companies in the directory founded in each year tells a clear story about the funding cycle:

Formation peaked in 2020 and 2021, then roughly halved in 2022 as venture funding tightened, and has kept sliding. The 2024 and 2025 figures will rise as younger companies get listed, but the direction is consistent with what operators tell us: fewer new vendors knocking, more consolidation among the ones that exist. (For more on what that means for buyers, see Multifamily consolidation in 2026.)

3. How big the companies are

1,429 listings report an employee range. Most multifamily vendors are small businesses:

Eighty percent of vendors have 200 or fewer employees, and more than half have 50 or fewer. Software skews toward the 11 to 50 band (312 of 859 software listings with size data, 36%), while 65 software vendors and 38 service firms employ more than 1,000 people. For a procurement team this is the practical backdrop to vendor risk: the typical PropTech vendor is a company of a few dozen people, which argues for the contract protections and performance tracking covered in our vendor management guide.

4. The integration map

BOOSTNOI records integrations only when both vendors confirm them, so these numbers understate what exists in the market. They are, however, the most reliable view we have of who actually connects to whom.

• 463 confirmed integration pairs between published products.
• 194 listings (13%) have at least one confirmed integration. 93 of them have exactly one; 24 have ten or more.
• Integration density by category: Smart Building & Access (16 of 64 listings, 25%), Leasing & Marketing (51 of 239, 21%), Property Operations (20 of 101, 20%), Data & Analytics (13 of 65, 20%), Resident Experience (15 of 90, 17%), Payments & Finance (13 of 106, 12%), Risk & Compliance (7 of 90, 8%), Energy & ESG (3 of 53, 6%).

Most connected platforms

The surprise is that the most connected products are not the systems of record. Engrain, Knock, Funnel, ButterflyMX and Rently each have more confirmed connections than Yardi. These are the products that sit between the PMS and the resident or prospect, and their value depends on talking to everything else, so they invest in integrations the way a PMS does not have to.

Property management systems: who connects to what

Fifty-one products have a confirmed integration with at least one of the eight PMS platforms in the directory. Thirty-four connect to two or more, 29 to three or more, and only 14 connect to five or more:

There are no confirmed PMS-to-PMS integrations, which matches how the market works: operators pick one system of record and everything else has to fit around it. The practical implication for buyers is to start any evaluation from the PMS you run and work outward; the integration hubs list every confirmed connection for each platform.

5. Where the companies are based

1,441 listings report a headquarters. After normalizing the free-text entries, about 92% are in the United States (1,293 in a named state plus 39 that describe themselves as national or remote), 82 (6%) are in Canada and 15 are in the United Kingdom, with a handful elsewhere.

By metro, New York City leads with roughly 135 listings, followed by the San Francisco Bay Area (about 50), Austin (about 42), Chicago (34), Toronto (30), Dallas and Atlanta (29 each), Houston (27), Boston (22), Miami (20) and Denver (18). Texas as a whole, with Austin, Dallas and Houston, now has more vendors than New York State, a reflection of where multifamily development and the operators themselves have moved over the last decade.

6. Pricing transparency

Four listings out of 1,480 publish pricing on their BOOSTNOI profile. That is 0.3%. Nearly every vendor in this market sells on a quote, which is one reason buyers lean on peer references and directories to calibrate. If you are a vendor, publishing even a starting price is one of the easiest ways to stand out in a category of 25 near-identical listings.

What this means for operators

Three practical takeaways. If you are buying leasing or marketing technology, expect a crowded field and shortlist on integrations with your PMS first, because the crowd thins quickly once you require a confirmed connection. If you are buying anything in the back office, expect fewer options and older, larger vendors, and negotiate accordingly. And whatever you buy, assume the vendor is a company of 11 to 50 people founded in the last ten years: do the diligence that size implies, and track performance after signing (here is how).

Methodology and limits

Source: the BOOSTNOI directory database, published listings only, queried on October 25, 2026. Category counts include a listing in every category it belongs to, so category totals exceed the number of listings. Founding year is missing for 130 listings and employee range for 51; percentages use listings with data. Headquarters were normalized from free-text entries (abbreviations, city-only entries); 7 could not be classified. Integrations count only pairs confirmed by both vendors on BOOSTNOI, so a vendor's true integration count is usually higher than shown. Review data was deliberately excluded from this report. We will refresh these figures each quarter; vendors can correct their own data by claiming their profile.