A master’s degree in real estate provides students with an advanced understanding of real estate principles, regulations, and practices. It equips them to work in managerial, directorial, and executive-level roles in the industry’s acquisition, finance, development, and advising sectors. Graduates go on to become real estate appraisers, development managers, valuation managers, and real estate managers.
Real estate managers are part of a growing industry with an expected job growth rate of 5 percent over the next year. The national median annual salary for the position is $60,670. However, wages will vary depending on the location, position, and company. The lowest 10 percent of real estate managers earn less than $35,210 annually, while the highest 10 percent earn more than $129,900.
Most master’s degrees in real estate consist of between 31 and 61 credits, requiring two years of full-time study to complete. The national average cost for tuition and fees is $19,749, but it will vary by program and institution. Students who plan to live on-campus will incur higher annual costs for housing and living expenses.
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How we rank schools
Our list features the best Real Estate degree programs at top colleges nationwide. Each school featured is a nonprofit, accredited institution — either public or private — with a high standard of academic quality for post-secondary institutions.
We evaluated each school’s program on tuition costs, admission, retention and graduation rates, faculty, reputation, and the student resources provided for online students. We collected data from trusted sources like the National Center for Education Statistics, individual school and program websites, school admissions counselors, and other data sources. Then, we calculated the Intelligent Score on a scale of 0 to 100 based on the following criterion:
Academic Quality:
- Admission rate versus enrollment rate
- Retention rate of students who return after year one
- Accreditation status (regional and programmatic)
- Nonprofit status, both private and public institutions
Graduation Rate
- Overall graduation rate
- Total number of currently enrolled students, including diversity metrics
- Student-to-faculty ratio
Cost and ROI
- In-state and out-of-state per-credit tuition rates and fees
- Required credits to graduate
- Earning potential after graduation
- Availability of federal student loans, scholarships, and other financial aid options
Student Resources
- Available student services for online-only and hybrid programs
- On-campus amenities like tutoring centers and the number of libraries
Read more about our ranking methodology.
Institution Type
Status
- Intelligent Score
- Alphabetically By University Name
- Acceptance Rate
- Enrollment
- In-state Graduate Tuition
- Out-of-state Graduate Tuition
- In-state Undergraduate Tuition
- Out-of-state Undergraduate Tuition
New York University
Intelligent Score: 98.88In-state: $52,204
Out-of-state: $52,204
In-state: $34,704
Out-of-state: $34,704
SAT: 1370-1540
ACT: 31-34
$2,575
On-Campus, Hybrid
Middle States Commission on Higher Education
42
Cornell University
Intelligent Score: 98.66In-state: $58,586
Out-of-state: $58,586
In-state: $29,500
Out-of-state: $29,500
SAT: 1400-1540
ACT: 32-35
$2,328
On-Campus
Middle States Commission on Higher Education
62
Georgetown University
Intelligent Score: 96.98In-state: $57,384
Out-of-state: $57,384
In-state: $53,136
Out-of-state: $53,136
SAT: 1380-1550
ACT: 31-35
$1,620
On-Campus, Online
Middle States Commission on Higher Education
33
Mays Business School Texas A&M University
Intelligent Score: 96.38In-state: $8,395
Out-of-state: $36,849
In-state: $6,775
Out-of-state: $6,775
SAT: 1160-1380
ACT: 26-32
Resident: $869
Non-Resident: $1,410
On-Campus
Southern Association of Colleges and Schools Commission on Colleges
36
University of San Diego
Intelligent Score: 95.83In-state: $52,120
Out-of-state: $52,120
In-state: $27,936
Out-of-state: $27,936
SAT: N/A
ACT: N/A
$1,595
On-Campus
WASC Senior College and University Commissio
32
University of Wisconsin-Madison
Intelligent Score: 94.46In-state: $9,273
Out-of-state: $37,161
In-state: $10,728
Out-of-state: $10,728
SAT: 1260-1460
ACT: 27-32
$1,700
On-Campus
Higher Learning Commission
30
CUNY Bernard M. Baruch College
Intelligent Score: 92.87In-state: $6,930
Out-of-state: $14,880
In-state: $11,090
Out-of-state: $11,090
SAT: 1170-1340
ACT: 25-31
Resident: $470
Non-Resident: $855
On-Campus
Middle States Commission on Higher Education
32-35
Johns Hopkins University
Intelligent Score: 88.95In-state: $54,160
Out-of-state: $54,160
In-state: $57,010
Out-of-state: $57,010
SAT: 1470-1560
ACT: 34-36
$1,890
On-Campus
Middle States Commission on Higher Education
30
University of Denver
Intelligent Score: 88.70In-state: $52,596
Out-of-state: $52,596
In-state: $52,596
Out-of-state: $52,596
SAT: 1170-1360
ACT: 26-31
$1,668
On-Campus
Higher Learning Commission
48
Florida International University
Intelligent Score: 88.57In-state: $4,721
Out-of-state: $16,529
In-state: $8,912
Out-of-state: $8,912
SAT: 1110-1260
ACT: 23-29
Resident: $933
Non-Resident: $1,000
On-Campus, Online
Association to Advance Collegiate Schools of Business
30
Roosevelt University
Intelligent Score: 87.66In-state: $31,493
Out-of-state: $31,493
In-state: $21,275
Out-of-state: $21,275
SAT: 900-1130
ACT: 18-26
$1,190
On-Campus
Higher Learning Commission
30
University of Florida
Intelligent Score: 87.49In-state: $4,477
Out-of-state: $25,694
In-state: $10,770
Out-of-state: $10,770
SAT: 1290-1460
ACT: 29-33
Resident: $448
Non-Resident: $690
On-Campus
Southern Association of Colleges and Schools Commission on Colleges
34
Portland State University
Intelligent Score: 86.78In-state: $7,907
Out-of-state: $25,536
In-state: $14,652
Out-of-state: $14,652
SAT: 1000-1190
ACT: 17-24
Resident: $656
Non-Resident: $797
On-Campus
Northwest Commission on Colleges and Universities
55
Clemson University
Intelligent Score: 86.40In-state: $14,118
Out-of-state: $37,110
In-state: $10,600
Out-of-state: $10,600
SAT: 1210-1390
ACT: 27-32
$1,283
On-Campus
Southern Association of Colleges and Schools Commission on Colleges
35
Massachusetts Institute of Technology
Intelligent Score: 83.45In-state: $53,450
Out-of-state: $53,450
In-state: $53,450
Out-of-state: $53,450
SAT: 1510-1580
ACT: 34-36
$960
On-Campus
New England Commission of Higher Education
37
University of California, Berkeley
Intelligent Score: 82.87In-state: $11,442
Out-of-state: $41,196
In-state: $11,442
Out-of-state: $11,442
SAT: 1310-1530
ACT: 30-35
$681
On-Campus
WASC Senior College and University Commissio
36
University of Utah
Intelligent Score: 82.70In-state: $7,412
Out-of-state: $26,017
In-state: $6,666
Out-of-state: $6,666
SAT: 1130-1350
ACT: 22-29
$1,070
On-Campus
Northwest Commission on Colleges and Universities
42
University of Missouri - Kansas City
Intelligent Score: 81.74In-state: $9,330
Out-of-state: $27,612
In-state: $9,478
Out-of-state: $9,478
SAT: 1110-1320
ACT: 23-29
Resident: $488 - $732
Non-Resident: $1,225
On-Campus
Association to Advance Collegiate Schools of Business
30
How to Choose a Master’s in Real Estate Program
Choose your area of study
Consider your career goals before choosing your programs and path. The types of degrees available include:
- Master of Science (MS) in international real estate
- Master of Real Estate Development (MRED)
- Master of Business Administration (MBA) in real estate
An MS degree focuses on the industry’s technical, analytical, and practical skills. It includes courses related to science and math and uses learning methods such as labs, research, and analysis.
An MRED degree is best for students who plan to become property investors or developers. It covers real estate principles, urban economics, land development, and property investment.
An MBA in real estate will provide an advanced understanding of business management related to the real estate industry. The program will focus on the industry’s operations, marketing, strategy, and business verticals.
Students may also choose a specialization or formal concentration during their master’s program, such as entrepreneurship, global real estate, affordable housing, portfolio management, and project feasibility.
Research schools and programs
When researching schools, look only for those that have received accreditation. Accredited schools meet a set quality standard and have proven to prepare students for their future careers. Common accreditors to look for include the Association to Advance Collegiate Schools of Business (AACSB) and the International Accreditation Council for Business Education (IACBE). You can use the Department of Education accredited schools and programs database to filter schools and programs.
Students can learn more about potential schools and programs by exploring their websites, visiting the school in person, attending open houses, or scrolling through social media. You can also schedule a call with an admissions counselor to learn more about the school and its culture.
Prepare for tests and applications
The requirements for a master’s degree in real estate program will vary depending on the school. You will likely be required to submit some or all of the following:
Most schools will consider applicants with any undergraduate degree. However, the most common are those with an undergraduate background in finance, business, economics, urban planning, or construction. Speak with an admissions counselor before applying to ensure you understand the requirements and submit the correct materials.
Select your program
When making your final decision, find the program that best aligns with your educational and lifestyle requirements. Consider if the program is in-person or online, full-time or part-time, or has flexible scheduling. Think about the program’s cost, length, location, and curriculum. Choose the program that will best prepare you for your future career and meet your logistical needs.
If you need help with your decision, contact an academic advisor. They’ll review your options and help determine the best choice for you.
Determine how you’ll pay for your degree
Create a budget to determine whether you can pay for the program independently or need financial assistance. Include the following in your calculations:
- Tuition
- Fees
- Supplies
- Housing
- Transportation
- Living expenses
Complete the Free Application for Federal Student Aid (FAFSA) to determine the amount of financial aid you’re eligible to receive, including scholarships, loans, grants, and work-study funds. Some employers also offer tuition assistance for employees entering programs related to their current industry.
What Can You Expect From a Master’s in Real Estate Program?
A master’s degree in real estate gives students a complex understanding of the real estate industry, focusing on areas including business, law, engineering, economics, and architecture. Students leave the program with the problem-solving, negotiation, and decision-making skills that will help them succeed in their future careers. While the curriculum varies by program, most programs will include coursework in real estate investment, development, finance modeling, and property analysis.
Various learning methods, including lectures, exams, case studies, site visits, and simulations, help students gain a thorough understanding of the material. Many programs conclude with a capstone project or practicum that develops students’ understanding of real-world operations.
Potential courses you’ll take in a master’s in real estate program
- Principles of Real Estate Development. Students will learn about the fundamentals of real estate markets, property law, finance valuation, building construction, and design.
- Real Estate Investment Analysis. This course covers investment analysis processes related to the real estate industry. Topics include cash flow analysis, discount and capitalization rates, and risk analysis.
- Contract Negotiations. Contract negotiations teach students the basic skills and effective methods of negotiation and communication, including planning, preparation, and execution of effective negotiations.
- Real Estate Capital Markets. Students will learn about the structure and operations of public and private debt and equity in real estate development. The course will focus on deal structure, deal sourcing, and risk analysis for real estate in the capital markets.
Master’s in Real Estate Degree Frequently Asked Questions
How do I apply to a master's in real estate degree program?
To apply for a master’s in real estate degree, visit the program website, where you will find the application requirements. Requirements will likely include your undergraduate transcripts, a resume, letters of recommendation, an essay, and GRE or GMAT scores. Speak with an admissions advisor before submitting your application to ensure you have all the required materials.
How much does a master's in real estate degree cost?
The annual average cost for a master’s degree is $19,749. The total cost will vary depending on the school, program, and living requirements. Students who live on-campus will likely see a higher total amount, and those in an online or part-time program may see a lower annual price.
How long does it take to earn a master's in real estate degree?
Most master’s degrees in real estate will require two years of full-time study, as students must complete between 31 and 61 credits to graduate. Some programs also offer online, part-time, or asynchronous study options where students can complete the program at their own pace.