The State of Women in Commercial Real Estate: Key Takeaways from the 2025 CREW Network Study

By Shaine Anderson for Market Share Blog | February 17, 2026

The commercial real estate industry continues to evolve in response to economic cycles, shifting workplace expectations and the long-term effects of the COVID-19 pandemic. Understanding how these changes are shaping talent, leadership and compensation is essential for firms competing in today’s market.

The 2025 CREW Network benchmark study – conducted in partnership with the MIT Center for Real Estate and supported by the CREW Network Foundation and contributing underwriters ICSC, MBA and NAIOP – offers valuable insight into these dynamics, with a particular focus on women in the industry. The study has been conducted every five years since 2005.

The study is designed to inform companies, managers and industry leaders about the priorities and experiences of commercial real estate professionals while strengthening the data that supports efforts to advance women and other underrepresented populations across the sector.

Who Participated

A total of 2,450 professionals across CRE sectors completed the survey between Jan. 20 and April 30, 2025. Nearly 90% of respondents reside in the United States, with an additional 8% based in Canada. Most participants identified as women (86%) and as non-Hispanic white (85%).

Participants responded to 80 questions, several of which were newly added or substantially revised to reflect evolving industry conditions and post-pandemic workplace trends. Together, the responses provide a broad snapshot of progress, persistent challenges and emerging risks facing the industry’s workforce.

Progress, Alongside Persistent Barriers

One of the most notable findings is that gender-based pay gaps have narrowed over the past five years. The fixed salary gap decreased from 10% to 4%, while the overall compensation gap – including commissions, bonuses and other variable pay – declined from 34% in 2020 to 13%.

Women’s compensation and career satisfaction have also remained relatively stable during negative market cycles, positioning them more securely in downturns. In addition, women are benefiting from increased workplace flexibility, including greater access to remote and hybrid arrangements.