2023 Property Crime Statistics: 10 Stats Property Managers Should Know

The FBI’s 2023 crime data is here, shedding light on property crime trends in the United States that property managers need to be aware of. With over 6.4 million cases of property crime and $280 billion in stolen goods, understanding these statistics is key to enhancing security and minimizing risk. Here are the top 10 property crime stats every property manager should know.

The Federal Bureau of Investigation (FBI) has just released its 2023 violent and property crime statistics. These numbers reveal several key insights that property managers across the U.S. should know.

Property crime has decreased over the years, but it still remains a concern in the U.S. It affects both large and small properties, with theft, burglary, and vandalism being among the most common crimes.

With over 6.4 million property crime incidents in 2023 alone, it’s important that property managers take precautions to secure their property.

Read on for the top 10 statistics you need to know from the 2023 FBI Crime ReportA.

1. There were 6.4 million property crimes in 2023.Title

This total number includes burglary, motor vehicle theft, and larceny. It marks a slight 2.4% decline compared to 2022, continuing a downward trend in property crime rates since the COVID-19 pandemic.

While it’s good to see these numbers trending downward, it’s important to remember that property crime remains a concern. It’s wise to stay vigilant and continue to take security precautions to protect your property.

2. Property crimes accounted for 84% of all reported crimes.Title

A staggering 84% of all reported offenses in 2023 were related to property crime. In other words, property-related offenses far outnumber the violent crime rate. This means that property managers should prioritize security systemsA and protective measures to reduce the chances of becoming part of these statistics.

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3. Larceny-theft accounted for 70.3% of all reported property crimes.Title

Larceny-theft remains the most prevalent type of property crime, with 4.5 million reported cases in 2023, representing a slight 4.4% decrease from 2022. 

Items like electronics, cash, clothes, and construction materials are often the target. The numbers suggest that petty theft continues to be a major issue for property managers, especially those overseeing residential communities or storage facilities.

4. Total estimated losses from property crime amounted to $280.5 billion.Title

Property crime doesn’t just disrupt lives; it also creates a massive financial burden. This underscores the importance of robust security systems and insurance policies to minimize losses.

5. The burglary rate fell by 7.6% year-over-year.Title

The FBI reported 839,563 burglary cases, making up 13.1% of all property crimes in 2023. This continued decline reflects the effectiveness of enhanced security technologies, like motion detectors and surveillance camerasA. 

While this is a positive trend, it’s important to stay aware. Recent cases suggest that criminals are utilizing increasingly sophisticated methods to evade traditional security measures and target valuable items like electronics or specialized equipment.

6. Motor vehicle theft rates rose by 12.6%.Title

Though overall property crime has decreased, motor vehicle theft is one notable exception. In 2023, 1.07 million vehicles were stolen, up by 12.6% from the previous year. 

For property managers overseeing parking lots, garages, or residential complexes, this growing threat should be a top concern. Installing gated entry points and vehicle monitoring systems can help deter these crimes.

7. The average cost of damages from arson reports was $24,320.Title

The rate of arson reports remained relatively unchanged year-over-year, with around 33,000 incidents. Though arson makes up a smaller portion of property crime, the damage it causes is often severe. For property managers, installing fire prevention measures, including sprinklers and fire alarms, can mitigate potential damage.

8. Western states saw the highest rate of property crime.Title

According to the FBI’s 2023 data, the West had the highest number of property crimes per 100,000 residents at 2,312.3. Followed by the South at 1,966.1, the Midwest at 1,673, and the Northeast at 1,550.4. 

While property crime is a common issue across the country, some states do have higher rates than others.

9. Urban areas tended to have higher rates of property crime.Title

Property crime continues to be more prevalent in metropolitan settings, where the crime rate is 2,883.11 per 100,000 residents compared to only 665.90 in non-metropolitan counties. 

Property managers working in cities should remain especially cautious. High-traffic and densely populated areas tend to experience more incidents of theft, burglary, and vandalism.

10. Tech-enabled security measures are becoming increasingly effective in reducing crime.Title

One of the most promising trends from 2023 is the growing role technology is playing in reducing property crime. The rise of surveillance cameras, AI-powered monitoring, and predictive analytics has led to a reduction in thefts at properties with advanced security measures. 

The most effective security solution to prevent property crime? A range of AI-powered security cameras. A study by UNC Charlotte found that 83%A of burglars check for security cameras before attempting a break-in.

How should property managers respond to this data?Title

The takeaway is clear: while property crime rates may be declining overall, the threat remains significant. Here are some actionable steps you can take to protect your property:

1. Invest in advanced security systems: Consider technology-driven solutions like AI-powered camerasA or smart access control systems to prevent theft and vandalism.
2. Increase lighting: Dark areas are more vulnerable to theft and vandalism. Improving visibility can reduce crime.
3. Focus on vehicle security: With motor vehicle theft on the rise, parking lot securityA and vehicle monitoring are becoming increasingly important.
4. Build strong community ties: A well-connected community that looks out for one another can deter potential criminals. Encourage tenants to report suspicious activity.
5. Regularly review your insurance policies: Ensure that you have adequate coverage for property loss or damage, particularly for high-value equipment or goods.

RELATED POST: 10 Tenant Safety Measures for Property ManagersA

The 2023 FBI crime data explorerA provides a wealth of insight for property managers looking to safeguard their properties. Even though property crime is generally decreasing, the high number of occurrences highlights the necessity for preventive actions.

By staying informed and adopting advanced security measures, property managers can reduce their risks and better protect their investments.

AI-powered cameras with monitored surveillance are proven to prevent crime.Title

Deep Sentinel is the only security technology that delivers the experience of a personal guard on every customer’s home and business.

To learn more about Deep Sentinel’s AI-powered security solutions for residential and business properties, contact usA for a free quote.