Real Estate Development
Types of Degrees Real Estate Development Majors Are Getting
The following table lists how many real estate development graduations there were in 2018-2019 for each degree level.
|Education Level||Number of Grads|
What Real Estate Development Majors Need to Know
People with careers related to real estate dev were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.
Knowledge Areas for Real Estate Dev Majors
Real Estate Dev majors often go into careers in which the following knowledge areas are important:
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
Skills for Real Estate Dev Majors
When studying real estate dev, you’ll learn many skills that will help you be successful in a wide range of jobs - even those that do not require a degree in the field. The following is a list of some of the most common skills needed for careers associated with this major:
- Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking - Talking to others to convey information effectively.
- Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
- Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Abilities for Real Estate Dev Majors
Real Estate Dev majors often go into careers where the following abilities are vital:
- Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Written Comprehension - The ability to read and understand information and ideas presented in writing.
- Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
- Speech Clarity - The ability to speak clearly so others can understand you.
- Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
What Can You Do With a Real Estate Development Major?
Below is a list of occupations associated with real estate dev:
|Job Title||Job Growth Rate||Median Salary|
|Appraisers, Real Estate||14.4%||$54,980|
|Property, Real Estate, and Community Association Managers||10.3%||$58,340|
|Real Estate Brokers||4.9%||$58,210|
|Real Estate Sales Agents||5.8%||$48,690|
|Social Sciences Professors||9.8%||$71,600|
|Urban and Regional Planners||12.8%||$73,050|
Who Is Getting a Master’s Degree in Real Estate Development?
At the countrywide level, the racial-ethnic distribution of real estate dev majors is as follows:
|Race/Ethnicity||Number of Grads|
|Black or African American||21|
|Hispanic or Latino||27|
Americans aren’t the only ones with an interest in Real Estate Dev. About 31.7% of those with this major are international students. The most popular countries for students from outside the country are:
- South Korea
How Much Do Real Estate Development Majors Make?
Master’s Degree Starting Salary
The U.S. Department of Education found that students who graduated in 2015-2017 with a master’s degree in real estate development made a median starting salary of $81,500 per year. During this timeframe, most salaries fell between $68,350 (25th percentile) and $95,350 (75th percentile).
One thing to note here is that not all of these people may be working in careers related to real estate dev.
Salaries According to BLS
Real Estate Dev majors often go into careers where salaries can range from $61,870 to $78,940 (25th to 75th percentile). This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.
To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.
Amount of Education Required for Careers Related to Real Estate Development
Some careers associated with real estate dev require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.
How much schooling do you really need to compete in today’s job market? People currently working in careers related to real estate dev have obtained the following education levels.
|Education Level||Percentage of Workers|
|Less than a High School Diploma||1.9%|
|High School Diploma - or the equivalent (for example, GED)||16.4%|
|Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)||6.3%|
|Some College Courses||11.8%|
|Associate’s Degree (or other 2-year degree)||10.5%|
|Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.||2.0%|
|First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.||2.7%|
Online Real Estate Development Programs
In the 2018-2019 academic year, 15 schools offered some type of real estate development program. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.
|Degree Level||Colleges Offering Programs||Colleges Offering Online Classes|
|Certificate (Less Than 1 Year)||0||0|
|Certificate (1-2 years)||0||0|
|Certificate (2-4 Years)||0||0|
|Doctor’s Degree (Research)||0||0|
|Doctor’s Degree (Professional Practice)||0||0|
|Doctor’s Degree (Other)||0||0|
Is a Degree in Real Estate Development Worth It?
The median salary for a real estate dev grad is $71,730 per year. This is based on the weighted average of the most common careers associated with the major.
This is 80% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $636,600 after 20 years!
Majors Related to Real Estate Development
You may also be interested in one of the following majors related to real estate dev.
|Major||Number of Grads|
|Architectural Sciences & Technology||5,448|
|Urban & Regional Planning||2,729|
- College Factual
- College Scorecard
- National Center for Education Statistics
- O*NET Online
- U.S. Bureau of Labor Statistics
- Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
- Image Credit: By Metropolitan Transportation Authority of the State of New York under License
More about our data sources and methodologies.