RubinBrown Apartment Stats 2013

Government Assisted by Region

North

East/Northeast

Midwest

South/Southeast

Total Number of Projects

19

60

204

59

Average Project Age In Years

10.8

11.8

10.1

10.5

Average Number of Units

91

124

95

124

Averages Per Unit: Monthly Rent

$703

$823

$655

$664

Square Feet

972

932

930

1,045

Rooms

4.13

4.47

4.34

4.83

Economic Occupancy

90.3%

89.3%

88.2%

84.7%

Net Operating Income Before Debt Service & Depreciation as a Percentage of Total Income

29.4%

43.1%

36.6%

24.5%

A

B

C

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$8,434

$8.68 100.0%

$9,879 $10.60 100.0%

$7,862

$8.46 100.0%

$7,966

$7.62 100.0%

Less: Vacancy Loss

(638) (0.66)

-7.6%

(887) (0.95)

-9.0%

(726) (0.78)

-9.2%

(951) (0.91) -11.9%

Collection Loss

(138) (0.14)

-1.6%

(137) (0.15)

-1.4%

(109) (0.12)

-1.4%

(172) (0.16)

-2.2%

(39) (0.04)

-0.5%

(35) (0.04)

-0.3%

(96) (0.10)

-1.2%

(97) (0.09)

-1.2%

Concession Loss

Rent Collected

7,619

7.84

90.3%

8,820

9.46

89.3%

6,931

7.46

88.2%

6,746

6.46

84.7%

453

0.46

5.4%

394

0.42

4.0%

425

0.45

5.4%

263

0.26

3.3%

Other Income

$8,072

$8.30 95.7%

$9,214

$9.88 93.3%

$7,356

$7.91 93.6%

$7,009

$6.72 88.0%

Total Income

Expenses

Salaries and Personnel

$1,013

$1.04

12.0%

$1,025

$1.10

10.4%

$998

$1.07

12.7%

$1,104

$1.06

13.9%

Administrative

541

0.56

6.4%

393

0.42

4.0%

419

0.45

5.3%

527

0.50

6.6%

Marketing

62

0.06

0.7%

56

0.06

0.6%

50

0.05

0.6%

52

0.05

0.7%

Management Fees

443

0.46

5.3%

493

0.53

5.0%

395

0.43

5.0%

425

0.41

5.3%

Utilities

975

1.00

11.6%

832

0.89

8.4%

699

0.75

8.9%

739

0.71

9.3%

Carpeting

102

0.10

1.2%

93

0.10

0.9%

126

0.14

1.6%

157

0.15

2.0%

Painting

36

0.04

0.4%

41

0.04

0.4%

39

0.04

0.5%

120

0.11

1.5%

Landscaping

96

0.10

1.1%

162

0.17

1.6%

127

0.14

1.6%

227

0.22

2.9%

HVAC

20

0.02

0.2%

56

0.06

0.6%

46

0.05

0.6%

83

0.08

1.0%

Appliances

24

0.02

0.3%

41

0.04

0.4%

32

0.03

0.4%

75

0.07

0.9%

Plumbing

19

0.02

0.2%

41

0.04

0.4%

27

0.03

0.3%

56

0.05

0.7%

Electrical

15

0.02

0.2%

26

0.03

0.3%

18

0.02

0.2%

31

0.03

0.4%

Other Repairs and Services

1,069

1.10

12.7%

877

0.94

8.9%

893

0.96

11.4%

866

0.83

10.9%

Insurance

255

0.26

3.0%

233

0.25

2.4%

284

0.31

3.6%

333

0.32

4.2%

Real Estate Taxes

727

0.75

8.6%

785

0.84

7.9%

415

0.45

5.3%

386

0.37

4.8%

303

0.31

3.6%

86

0.09

0.9%

93

0.10

1.2%

114

0.11

1.4%

Other Taxes

Total Expenses

$5,700

$5.86 67.5%

$5,240

$5.60 53.1%

$4,661

$5.02

59.2%

$5,295

$5.07

66.5%

Net Operating Income Before Debt Service & Depreciation

$2,372

$2.44 28.2%

$3,974

$4.25 40.2%

$2,695

$2.89

34.4%

$1,714

$1.65

21.5%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

8 | RubinBrown Apartment Stats 2012