According to a report by Zumper.com, St. Catharines ranked the 16th most expensive rental market in Canada in March, with a 14 per cent increase for two-bedroom units compared to last year. The average rent for a two-bedroom unit was $1,750, while a one-bedroom unit was $1,350, up 2.3 per cent year-over-year. The report attributed the rising rents to factors such as high immigration, low housing supply, high interest rates and more demand due to COVID-19. Some city councillors expressed concerns about the affordability and availability of rental housing in the city, especially for newer units that are not subject to rent controls.

Among metropolitan areas, the New York City metro remains the country’s largest real estate market by value, but by a narrowing margin. The NYC-area housing market is valued at $3.51 trillion, with the Los Angeles metro right behind at $3.27 trillion, according to a report published by Zillow.
What are the New York City real estate market predictions for 2023? New York City has a track record of being one of the best long-term real estate investments in the U.S. The New York real estate market has been booming year over year. NYC home prices nearly doubled over the last decade. With supply and demand continuing to favor sellers, prices continue to rise year over year.
According to NeighborhoodScout's data, the cumulative appreciation rate over the ten years has been 77.08%, which ranks in the top 40% nationwide. This equates to an annual average real estate appreciation rate of 5.88%. Despite the pandemic drastically affecting the New York real estate market, during the period between 2021 Q2 – 2022 Q2, New York's appreciation rate has been 10.54%. In the latest quarter tracked by NeighborhoodScout's data (2022 Q1 – 2022 Q2), they show that house appreciation rates in New York were at 0.91%, which equates to an annual appreciation rate of 3.71%.
According to StreetEast's forecast, due to the higher cost of renting and elevated inflation, renter demand will continue to cool in 2023, pushing down asking rents. This relief in rent prices, however, will be slow to come by due to a limited inventory of rental units. Priced-out buyers may stay in the rental market until 2023's spring purchasing season, keeping rents high.
Despite record-high rates and possible annual savings of $14,500 from roommates, NYC renters are prepared to pay more to avoid having roommates, according to their research. All of this suggests the rental market may cool off more slowly, despite reduced affordability. NYC homeowners will be better prepared for a possible recession.
NYC will continue to see an influx of new residents. Despite high rents, StreetEasy search data suggests the city continues to draw interest from potential new residents wishing to move from other areas. The strong demand in NYC rentals from outside the city, despite lower affordability, coincides with the city's impressive recovery, which had restored 97% of the employment lost during the epidemic by September of this year, according to an analysis by the NYC Office of the Comptroller.
According to a Black Knight Mortgage Report, the mortgage delinquency rate in New York state was 2.7% in September of this year, matching the historically low national rate of 2.8%. Only 0.4% of borrowers in the greater NYC area have negative equity, indicating that New Yorkers are well prepared to weather a potential economic crisis.
Let us look at the price trends recorded by Zillow over the past few years. The current typical home value of homes in NYC is $783,799 (ZHVI). In Nov 2021, the typical value of homes in NYC was around $737,871. NYC home values have gone up 6.2% since last November.

• Typical Home Value: $783,799 (November 30, 2022)
• 1-year Value Change: +6.2%
• 70 Median days to pending.
• 0.983 Median sale-to-list ratio
• 22.4% Percent of sales over list price
• 63.2% Percent of sales under list price

Here's Zillow’s housing market forecast for New York-Newark-Jersey City Metro. The Fed will likely keep interest rates elevated through much of next year which will lead to a decline in the prices over the next 12 months. Buyers are regaining negotiation leverage, but seller reluctance will keep the balance of power from shifting completely in favor of buyers next year.

• New York-Newark-Jersey City Metro home values have risen by 8.4% to $617,629.
• The New York Metro housing market forecast ending November 2033 is negative.
• Zillow predicts that New York Metro home values may decline by 3% by November 2023.
• If this forecast is correct, New York Metro home prices will be lower in the 3rd Quarter of 2023 than they were in the 3rd Quarter of 2022.

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New York's Recovery From The Pandemic

Changes in house prices, rents, and mortgage interest rates can affect households' income and wealth, as well as how much money they spend and on what. Housing costs and policies can also shape where people chose to live, work, and study, as well as their ability to move or change jobs. Rising house prices, by discouraging potential migrants, could significantly reduce the growth potential of the economy, shifting the balance of labor market growth from employment to wages, with a consequent deterioration in competitiveness.
When it comes to the job market and real estate, the relationship is generally correlative: when one rises, so does the other, and when one falls, so does the other. According to preliminary figures released on October 20, 2022, by the New York State Department of Labor, New York State’s seasonally adjusted unemployment rate increased from 4.3% in July to 4.7% in August 2022. From September 2021 to September 2022, the unemployment rate (not seasonally adjusted) fell from 5.7% to 3.9%.
The number of private sector jobs in New York State increased over the month by 17,400, or 0.2%, to 8,061,500 in September 2022. The number of private sector jobs in the U.S. also increased by 0.2% in September 2022. New York State's private sector jobs (not seasonally adjusted) increased by 361,400, or 4.7%, over the year in September 2022, which exceeded the 4.2% increase in the number of private sector jobs in the U.S.
On a net basis, the total number of nonfarm jobs in the state increased by 15,600 over the month, while private sector jobs rose by 17,400, in September 2022. At the same time, the total number of nonfarm jobs in the nation increased by 263,000, while private sector jobs increased by 288,000.

• New York City’s unemployment rate decreased over the month from 6.6% to 5.6%.
• Outside of New York City, the unemployment rate increased from 3.2% to 3.3%.
• The number of unemployed New Yorkers decreased over the month by 39,400, from 445,100 in August to 405,700 in September 2022.

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New York Rental Market Report

The Zumper New York City Metro Area Report analyzed active listings across the metro cities to show the most and least expensive cities and cities with the fastest growing rents. The New York one-bedroom median rent was $2,333 last month. New York City was the most expensive market with one-bedrooms priced at $3,790 whereas Newark was the most affordable city with rent at $1,400.
Here are the places where it makes sense to invest in rental properties in the New York City Metro Area. These are the places where the demand for rentals is growing strong in 2023.
The Fastest Growing Cities For Rents in New York City Metro Area (Y/Y%)

• Jersey City had the fastest growing rent, up 48.7% since this time last year.
• West New York saw rent climb 40.3%, making it rank as second.
• Bridgeport was third with rent jumping 25%.

The Fastest Growing Cities For Rents in New York City Metro Area (M/M%)

• Bayonne had the largest monthly rental growth rate, up 6.3%.
• Fort Lee rent grew 6.1% last month, making it the second fastest growing.
• Union City was third with rent climbing 5.4%.

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Where to Buy a House in NYC?

New York is dominated by renter-occupied one or two-bedroom apartments. 76.75% of New York's dwellings are rentals. As per Neigborhoodscout.com, a real estate data provider, one and two-bedroom large apartment complexes are the most common housing units in NYC. Other housing types prevalent in NYC include single-family detached homes, duplexes, rowhouses, and homes converted to apartments.
The New York housing market has affordable townhomes. New York's single-family homes account for just 1.15% of the city’s housing units. During the latest twelve months, the New York real estate did cool off. However, the cumulative appreciation rate over the ten years has been 38.81%, which ranks in the top 30% nationwide. Evaluate the specifics of the NYC housing market at the time you intend to purchase. Hiring a local property management company can help in finding tenants for your investment property in NYC.
New York City's housing market is one of the most costly and competitive in the country. There are 237 neighborhoods in New York (as per Realtor.com). Tribeca has a median listing price of $3.9M, making it the most expensive neighborhood. Riverdale is the most affordable neighborhood, with a median listing price of $360K.
There are some buyer-friendly neighborhoods in New York City where buyers have a bit more negotiating power in neighborhoods as compared to sellers. Jackson Heights is one of New York City’s most buyer-friendly neighborhoods at the moment with home prices under $700,000. Other buyer-friendly markets with a median sales price below $700,000 include Rego Park, where the median sales price in Oct 2021 was $389K, trending down -by 8.9% year-over-year. The sale-to-list price ratio was 100 percent.
The median list price of homes in Sheepshead Bay was $499K in Oct 2021, trending down -by 5% year-over-year. The sale-to-list price ratio was 97.72 percent. The median list price of homes in East Flatbush was $650K, trending up 8.9% year-over-year. The sale-to-list price ratio was 100 percent. The median list price of homes in Brighton Beach was $569K, trending up 16.4% year-over-year. The sale-to-list price ratio was 97.03 percent.
Buyers have a bit more negotiating power in neighborhoods where the median home price falls between $700,000 and $1 million. In areas like Midtown East, where the median sales price is $872,500. Homes in Midtown East sold for approximately the asking price on average in Oct 2021. The other neighborhoods best for buyers looking to spend between $700,000 and $1 million are Bayside, where the median sales price in Oct 2021 was $720,000 and the sale-to-list price ratio was 99.37 percent; Gravesend ($684,500, 96.98 percent); Flushing ($838,000, 96.38 percent); and Bay Ridge ($499,000, 98.14 percent).
All of this could vary from time to time and can be checked on Realtor.com. Check out some of the best neighborhoods for investing in New York for the long term→ These neighborhoods have been selected from all five boroughs.
If you think of investing in NYC, you have decided on a long-term investment property. Here are the ten neighborhoods in NYC having the highest real estate appreciation rates since 2000—List by Neigborhoodscout.com.

1. Inwood North
2. Marble Hill
3. Washington Heights Southeast
4. Roosevelt Island
5. W 115th St / Amsterdam Ave
6. E 57th St / Madison Ave
7. Madison Ave / E 52nd St
8. W 58th St / Grand Army Plz
9. Tribeca South
10. W 70th St / Amsterdam Ave

Top Real Estate Estate Markets in New York

Buffalo real estate market
The Buffalo real estate investment offers a surprisingly good deal with low prices and relatively high rental rates. The Buffalo real estate market is dominated by older homes. A majority of homes in the Buffalo housing market were built before World War 2. Interestingly, this also means that many small apartment buildings are designed to serve a population that rented small units close to their jobs.
For example, roughly a third of homes are single-family detached homes, while almost half take the form of small apartment buildings. This creates an excellent opportunity for those in the market for Buffalo rental properties. You could buy a small apartment building with multiple tenants for the cost of a single rental property in a more expensive New York real estate market.
Syracuse real estate market
Syracuse's real estate market offers cheaper property with a higher return on investment and a less hostile legal climate. It is one of the better choices if you want to invest in New York state. Another issue that factors into the equation is the job market. Lots of cities have a great quality of life but almost no one can afford to live there.
The Syracuse housing market ranked 6.3 out of 10 for its job market. That’s better than rural and much of upstate New York. And it is why there is a slow trickle of people moving in to replace those who leave. That’s why the Syracuse real estate market has a net migration of 5 or a stable population. This is in sharp contrast to the depopulation seen in most Rust Belt cities. It also means Syracuse's real estate investment properties will hold their value for the foreseeable future if they don’t appreciate it.
Albany real estate market
Albany is a steadily appreciating real estate market. While it isn’t as famous or hot as NYC, it offers an affordable entry point and a massive pool of perpetual renters. Though it may not be somewhere you want to live, many locals are choosing to stay and make their homes here. And that will continue to drive demand for Albany real estate investment properties as long as they are priced right.
Rochester real estate market
You can also consider Rochester. The Rochester real estate market is stable, offering slow appreciation, affordable properties to outsiders, and good returns. It has strong, long-term potential that is only buoyed if NYC collapses. And this is one of the reasons why being everything the Big Apple isn’t is in your favor.
The Rochester real estate market enjoys a healthy population profile. Roughly a quarter of the population consists of children, and many are likely to remain due to the healthy job market. It also means that the Rochester housing market won’t crash if the job market weakens the way San Francisco collapses whenever the tech bubble bursts. Others choose to remain here because of the low cost of living.

Real estate has traditionally been slow to adopt technology, but with automation becoming essential, this is changing. Consider this: the market capitalization of General Electric, Porsche, and LG Energy Solution combined is equivalent to that of Foxconn and Shopify combined. This number is $86 billion.
The proptech industry is expected to see tremendous growth, with a projected market value of $86 billion by 2032, equivalent to the net worth of Bill Gates in 2016. This staggering growth means that proptech companies will achieve in a single year what took Bill Gates a lifetime to accumulate.
Proptech companies are businesses that specialize in creating technology solutions for the real estate industry. They identify pain points within the industry and provide customized software products to address them. Whether it's in the design or functionality of a product, the top proptech companies understand the needs of real estate players and create solutions to meet them.
Now, let's take a look at the most valuable proptech companies to learn from and the best proptech startups to invest in.

Leading Proptech Firms to Watch in 2023: Top 7

• WeWork;
• Airbnb;
• Opendoor;
• Compass;
• Homelight;
• VTS;
• Redfin.

Top Proptech Companies in Real Estate in the US in 2023

Top Proptech Companies in Real Estate

WeWork

Type of Solution: Commercial office space solutions
Founded: 2010
Funding: $22 billion
WeWork is a leading proptech company that is revolutionizing the way we work by providing flexible office spaces in locations worldwide. They offer a variety of space options including dedicated desks, private offices, office suites, full-floor offices, and event spaces.
WeWork's clients can now enjoy the freedom of a flexible pricing system, allowing them to budget for office space more easily. They offer a variety of options for modern businesses, including the ability to decentralize offices or create collaboration hubs with advanced technology, such as private VLAN and Wi-Fi.
WeWork offers a wide range of office space options to suit the needs of any business, regardless of team size or location. With a global presence in 151 cities and over 700 prime locations, WeWork boasts a total of 151 million square feet of space. Additionally, many of the world's top companies, including over half of the Fortune 100, are WeWork's clients.

Airbnb

Type of Solution: Global short-rentals marketplace
Founded: 2008
Funding: $6.4 billion
Airbnb is one of the largest publicly traded proptech companies globally. It operates as a platform for short-term rentals, connecting travelers with homeowners. Travelers can easily book and manage their trips, and benefit from the secure payment system, verified host profiles and listings, and 24/7 support provided by Airbnb.
Users can select from a variety of options on Airbnb, including Airbnb Experiences, Airbnb Adventures, and Airbnb for Work, depending on the purpose of their trip.
Airbnb is a perfect example of how technology can change the way we do things. Using the principle of peer-to-peer economy, the company connects travelers and homeowners, while only charging a small service fee.
The majority of Airbnb's revenue comes from the non-refundable service fees charged to guests (14.2%) and hosts (3%).
Airbnb has a total of 7 million listings across over 200 countries.

OpenDoor

Type of Solution: Residential marketplace / iBuyer
Founded: 2014
Funding: $1.9 billion
OpenDoor is a proptech company that simplifies the process of buying and selling residential properties. Among American public proptech companies, it is one of the most well-funded. OpenDoor allows property owners to sell their property quickly and at top dollar, with a service charge of 5-14% depending on the sales deadline.
One of the greatest benefits of using OpenDoor is its efficient virtual property assessment process, which only requires a video walkthrough and can be completed in a matter of hours. Unlike other real estate tech companies, the entire process including paperwork is done online, making it easy and convenient for sellers to stay at home.
After the property assessment, property owners have the option to accept an all-cash offer and sell their house directly to the company or choose to work with a real estate agent.
OpenDoor's service allows you to avoid double mortgages by selling your old house and buying a new one with the company. You can easily explore OpenDoor houses by installing the company's app and touring them from 6 am to 9 pm, without the need for an appointment.
OpenDoor's streamlined process which includes fewer intermediaries and digital-first experiences, makes it an ideal option for anyone looking to save both time and money.

Compass

Type of Solution: Brokerage technology
Founded: 2012
Funding: $1.6 billion
Compass is a well-funded real estate tech company with unicorn status. It operates as a marketplace platform that brings buyers and sellers together by providing brokerage services.
Compass collected a large team of experts in real estate, marketing, design, business, and engineering, who will help you renovate your house without additional fees, and sell it for top dollar in the shortest possible time.
Compass boasts 25+ thousand top real estate agents and 67 real estate markets.
Compass is able to sell properties quickly due to its advanced analytical proptech stack and data-generating tools. Additionally, it offers exclusive listings with a "coming soon" tag, allowing potential buyers to preview properties even before they are officially on the market and determine if it's a suitable fit for them, regardless of their status as direct clients.

Homelight

Type of Solution: Rental marketplace
Funding: $742.5 million
Founded: 2012
One of the most rapidly growing proptech platforms, Homelight provides house buyers with individual agent advice and connects its clients with property owners. On the company website, you can find the value of your house and browse listings before becoming a Homelight customer.
The company boasts 28 thousand real estate agents and more than $1 billion in transactions yearly.
Homelight promotes housing equality and fights against racial prejudice. Like Orchard, the company helps owners purchase new homes before selling their old ones. Homelight provides services that make it easy to secure a mortgage and find the perfect home with the assistance of a top real estate agent.

VTS

Type of Solution: Commercial real estate software
Founded: 2012
Funding: $462 million to date
VTS is a leading proptech company globally and was once a top unicorn proptech start-up. They offer a range of commercial real estate products that assist landlords and brokers in managing properties, marketing vacant units, negotiating lease deals, and maintaining seamless communication with tenants.
Currently, VTS manages over 12 billion square feet worldwide and has a client base of over 45,000. The company's reports indicate that its platform enables clients to convert leads into leases 41% faster, by making data-driven decisions.
VTS's goal is to create an inclusive leasing and asset management platform that is user-friendly and encompasses all aspects of real estate processes.

Redfin

Type of Solution: Rental software
Founded: 2002
Funding: $319.6 million
Redfin is one of the most valuable proptech companies, offering a wide range of real estate services including insurance, lending, brokerage, and rentals in the US and Canada.
Choosing Redfin is a financially smart decision as the company's technology helps to reduce and save on fees. The only fee required is a 1% listing fee, and according to the company, on average buyers can save $7,000 by using Redfin's services.
As the #1 national brokerage site in the US, Redfin allows users to request house tours and schedule renovation sessions to maximize profits. The company's mobile app also enables users to receive new offers, communicate with real estate agents, and share their favorite properties with family members.

Zumper

Type of Solution: Rental marketplace
Founded: 2011
Funding: $180.2 million
Amongst other proptech companies, Zumper mostly focuses on multifamily complexes and operates as a platform connecting property owners with tenants. It allows tenants to fill in rental applications online and get real-time alerts on the best-fit property offers.
As for the property owners, the latter can perform a screening session on Zumper’s platform, request TransUnion credit reports and background checks, and collect their rent securely.
Zumper boasts around 180 million visits and 13 million renters.
In terms of inclusivity, Zumper ticks all items on the list. The company provides rental options for every taste and budget: short-term rentals, pet-friendly accommodations, cheap apartments, luxury properties, standard houses, and apartments.

Qualia

Type of Solution: Digital closing platform
Founded: 2015
Funding: $160 million
Qualia is a top proptech company, known as the leading digital closing platform in real estate. With its assistance, over 500,000 clients have successfully closed millions of home ownership deals.
Qualia transforms home closings into digital transactions and significantly reduces workload by 75%, providing a stress-free home closing and refinance experience for its users.
Qualia designs its products for use by lenders, vendors, settlement agents, title insurers, and real estate agents. With Qualia, all FedEx shipments, emails, and documents are stored in one central location, making it easy for users to access the data they need. Qualia's products also seamlessly integrate with other tools such as Simplifile, providing transparency to accounting and document preparation operations.
Furthermore, among all proptech companies, Qualia is the first to join the Coalition to Stop Real Estate Wire Fraud.

Reonomy

Type of Solution: AI-powered commercial database platform
Founded: 2012
Funding: 128.4 million
Reonomy is a highly innovative proptech company in the United States. They provide a commercial database platform that utilizes predictive analytics to assist investors, brokers, agents, and mortgage lenders in making data-driven investment decisions.
Reonomy offers two key features to its users: the Web Application and Data Solution. The Web Application helps clients locate and track available commercial properties in the US to invest in, while the Data Solution allows for customization of property searches to meet the specific needs of the company.
The company's proptech solution involves extracting data from various sources, primarily public and crowdsourced data, and using it to develop market intelligence for investors. The pricing is flexible and depends on the features used. Users can also request demos and take advantage of free trials.

Hover

Type of Solution: 3D visualization
Founded: 2011
Funding: $127.3 million
Hover is a proptech solution company that combines the latest trends in design, construction, and technology. By transforming photos of a user's home, taken with smartphone technology, into realistic interactive 3D models, Hover has revolutionized the home improvement process.
Users can obtain accurate measurements of their property to efficiently plan both construction and maintenance projects. With Hover, you can determine the expected costs and identify the contractors to work with before even starting the project. The platform also allows users to obtain accurate estimates and order the exact amount of building materials all in one place, through the app.
The best part is that you can get your first 3D visualization model without any cost and see if you are satisfied with the results.

RealPage

Type of Solution: Commercial and residential prop management tools
Founded: 1998
Funding: $105 million
RealPage is one of the most established proptech companies, providing proptech SaaS products, compliance, vendor, and billing services to managers of over 19 million units worldwide. Their products are cloud-based, but can also be accessed on the web and mobile devices.
RealPage has earned a reputation as one of the best real estate tech companies due to the high-quality proptech services it offers. It provides advanced tools to fully automate leasing, listing, tenant screening, billing, and management processes.
RealPage also has a rent-setting software that sets prices for units based on market dynamics without violating antitrust laws, ensuring that properties are leased for top dollar each day.

Zillow

Type of Solution: Real estate marketplace
Founded: 2006
Funding: $96.6 million to date
Like RealPage, Zillow is one of the biggest proptech companies, offering a wide range of options for buying, selling, and renting properties. The company connects renters, buyers, and sellers to help them find their dream home.
Zillow assists homeowners in getting pre-approved financing for their next home purchase, finding the best mortgage providers, and selecting their future home. Additionally, the Zestimate tool enables sellers to estimate their potential profit and decide whether to hire a Zillow Premier Agent for buy-and-sell consultation.
The platform also caters to renters, with Zillow Rentals, allowing users to search for new rental properties, submit applications, obtain background checks, and pay their monthly rent.

CoreLogic

Type of Solution: AI-powered data analytics software
Founded: 2010
Funding: $74.7 million
CoreLogic is one of the leading proptech companies in AI-powered housing data and analytics, providing innovative data modeling to aid mortgage brokers, insurers, valuers, and other industry players in refining their decision-making.
The company's automated valuation models (AVMs) form a part of current and predictive analytics for tracking price trends and other industry changes. For example, one of the company's products is the Mapping the Market Tool which allows users to view median property value and annual value changes.
CoreLogic has a vast database, with 4.5 billion records and 7 thousand data sources. The data provided by the company covers up to 98% of the property market.
With 9 locations and 5 thousand employees worldwide, CoreLogic is a highly respected and reliable source of real estate information, trusted by government agencies and financial institutions.

Loopnet

Type of Solution: Commercial real estate listing platform
Founded: 1995
Funding: $50 million
Loopnet is one of the largest proptech platforms for commercial real estate, providing a listing service for commercial properties. With 85% of commercial real estate decisions being made online, the platform is well-suited to meet the needs of the industry.
The platform is powered by customizable search filters, containing 50 thousand listings for commercial properties for auction, purchase, or lease. It offers a wide range of options, from offices and industrial buildings to land and shopping centers.
The fees for using the platform vary depending on the features you want to add. You can boost your property to the top of the list, save searches, share listings, access property details, and contact agents.
Overall, Loopnet is a great networking platform for finding top brokers and a valuable tool for obtaining top commercial properties.

Top 5 Proptech Startups to Follow in 2023

• EquipmentShare;
• Pacaso;
• Orchard;
• Side;
• OpenSpace.

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Top Proptech Startups in Real Estate in the US in 2023

Top Proptech Startups in Real Estate

EquipmentShare

Type of Solution: Construction rental services (marketplace)
Founded: 2015
Funding: $1.6 billion
One of the most funded proptech companies, EquipmentShare is a leader in construction automation. The company offers contractors to rent construction equipment with provided GPS trackers from other vendors by paying a small fee to the rental company which EquipmentShare is.
The company covers the safety plans itself, and economizes its clients up to 20% of total costs.
EquipmentShare delivered innovation by bringing connectivity to one of the most busy sectors in real estate. To boost productivity, the company has created a construction management platform – a cloud-based solution that offers maximum visibility to construction processes, eliminates bottlenecks like wrong alerts or inaccurate reports, and completely digitizes traditionally manual processes.
With the construction industry predicted to rise from $6.4 trillion in 2020 to $14.4 trillion in 2030, it’s clear as a day that EquipmentShare has already mapped out the industry trends for future startups to follow.
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Pacaso

Type of Solution: Second home investment
Founded: 2020
Funding: $1.5 billion
The main idea behind Pacaso innovators was to make the idea of second home ownership affordable to everyone.
How does it work? Let’s say are a homeowner, but have to move to a nearby state for a few months or a year. Rather than renting a flat and dealing with complicated homeownership, you can have your share of a second home (pun intended) on favorable terms like 12% of the home’s purchase price. If boredom strikes, you can resell your share or swap it for a different Pacaso house.
One of the world-known real estate unicorns, Pacaso has fairly taken the place among the most valuable proptech companies in less than a year. Today, the company is focusing more on luxury second home sales, since this type of second home purchase has increased by 25% during the second quarter of 2022.

Orchard

Type of Solution: Real estate marketplace
Founded: 2017
Funding: $472 million
As opposed to classic homebuying companies and agents that won’t give you a permit to buy a new house before selling your old one, Orchard does both. You get a licensed real estate agent that does free home valuation, manages expert home preparation at no additional cost, and sells your old home for top dollar.
Orchard is an excellent example of proptech companies that haven’t revolutionized the market but made the oldest ideas work for them with a tiny remodelling. You can window shop at the company’s website to understand whether the units are worth it. Orchard can skip the house shows, delegating the whole selling-and-buying process to the company’s professionals.

Side

Type of Solution: Brokerage platform
Founded: 2014
Funding: $313.5 million
Side is a real estate brokerage platform that disrupts traditional brokerage models by providing support for agents in legal matters, auditing, advertising, and other aspects commonly associated with the brokerage realm. By delegating these tasks to Side, agents can focus more on their communication with clients.
The company promises a growth of 44% in a year for agents who use their service. Furthermore, when working with Side, the agent maintains full ownership of their business, which can be sold or transformed later, unlike the traditional brokerage model where the brokerage owns the business.
Side is a rare unicorn company valued over $1 billion and considered one of the top successful ventures in real estate. It's a true gem in the proptech industry.

OpenSpace

Type of Solution: Construction space management
Founded: 2016
Funding: $200.4 million
OpenSpace is among the leading proptech companies in the US that leverage the power of AI to enhance the real estate industry.
With its cutting-edge technology, the company offers products such as OpenSpace Track to accurately document building sites. Using a 360-degree camera, users can easily capture and record the environment, allowing for later reference and analysis.
The company's technology also allows for easy comparison of building information modeling (BIM) with real-life site conditions, identifying potential hazards before they become a problem.
One of the key benefits of OpenSpace is its focus on risk prevention, with the added bonus of being able to request a demo with no upfront cost.

VergeSense

Type of Solution: Office analytics technology
Founded: 2017
Funding: $82 million
VergeSense is a proptech company that specializes in monitoring and analyzing office space usage.
Utilizing sensor hardware and a cloud-based platform, the company tracks physical office usage remotely through infrared sensors and AI algorithms. This allows businesses to improve office utilization, monitor workplace attendance, decrease vacancy rates and building costs, and make data-driven decisions about office technology.
The company currently monitors over 40 million square feet of office space in 30 countries, while ensuring the security of employee data through low-resolution imagery.

Doorvest

Type of Solution: Rental property investment
Founded: 2019
Funding: $50 million
Doorvest, a proptech startup, specializes in providing rental property investment opportunities for those looking to invest in single-family homes in Houston, Texas.
The company offers a streamlined process for buying and selling properties, managing maintenance, and screening tenants. With no prior property management experience required, Doorvest offers a one-year property management service for a 15% fee of total rent.
Additionally, the company provides a one-year renovation guarantee and a one-year rental income guarantee, ensuring a steady income even in case of a broken lease or non-payment. The minimum investment required is $35,000 and can vary depending on the investor's goals and budget.

DoorLoop

Type of Solution: Rental management software
Funded: 2019
Funding: $30 million
DoorLoop is a leading proptech startup that has developed an innovative solution for simplifying the most tedious tasks in property management, such as rent collection, portfolio management, lease signing, and maintenance request processing.
Despite being founded only a few years ago, the company has quickly established a presence in over 100 countries, thanks to its affordable and customizable software.
The greatest advantage of using DoorLoop is its seamless integration with other tools, and the ability to try the software out with a free demo before making any investment.

RentRedi

Type of Solution: All-in-one property management software
Founded: 2016
Funding: $17 million
RentRedi is a user-friendly property management tool that is specifically designed for landlords who manage their properties on-the-go using smartphones.
As one of the top proptech startups, RentRedi offers a range of features including on-time rent payments, tenant screening, maintenance requests management, and easy-to-use lease agreements.
With the help of RentRedi, landlords can expect an increase in on-time payments from tenants.
The software also offers an accounting feature in partnership with REI Hub to keep landlords' financial reporting fee-less and stress-free.

TurboTenant

Type of Solution: All-in-one prop management platform
Founded: 2015
Funding: $10.2 million
TurboTenant is a user-friendly and cost-effective proptech solution for landlords who prefer to handle property management tasks on their own. With TurboTenant, landlords can easily create their own listing pages, utilize automatic payment and late fee options, and use customizable lease agreements that can be signed remotely.
Additionally, the platform provides access to resources such as landlord-tenant laws and state-specific legal forms to ensure compliance. TurboTenant also streamlines move-in and move-out processes, making it a convenient and efficient tool for landlords.
The best part? TurboTenant helps you efficiently navigate every aspect of the rental and management process with lightning-fast speed. And it's completely free to use.
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