RubinBrown Apartment Stats 2013

Government Assisted by Project Size

0-50 Units

51-100 Units

101-150 Units

151-200 Units

Over 200 Units

Total Number of Projects

95

109

99

43

40

Average Project Age In Years

9.9

9.6

11.0

13.2

11.6

Average Number of Units

31

75

122

177

263

Averages Per Unit: Monthly Rent

$608

$675

$719

$721

$702

Square Feet

1,042

880

904

950

945

Rooms

4.84

4.05

4.16

4.38

4.40

Economic Occupancy

89.6%

91.1%

89.3%

87.5%

86.0%

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

24.2%

34.8%

36.5%

32.4%

39.6%

A

B

A

B

A

B

A

B

A

B

Revenues

Gross Potential Rent

$7,299

$7.01

$8,102

$9.21

$8,631

$9.55

$8,656

$9.11

$8,424

$8.92

Less: Vacancy Loss

(507) (0.49)

(535) (0.61)

(762) (0.84)

(860) (0.90)

(923) (0.98)

Collection Loss

(135) (0.13)

(106) (0.12)

(115) (0.12)

(156) (0.16)

(139) (0.15)

Concession Loss

(116) (0.11)

(82) (0.09)

(46) (0.05)

(66) (0.07)

(114) (0.12)

Rent Collected

6,541

6.28

7,379

8.39

7,708

8.54

7,574

7.98

7,248

7.67

Other Income

456

0.44

291

0.33

374

0.41

297

0.31

474

0.50

Total Income

$6,997

$6.72

$7,670

$8.72

$8,082

$8.95

$7,871

$8.29

$7,722

$8.17

Expenses

Salaries and Personnel

$933

$0.90

$1,108

$1.26

$1,086

$1.20

$1,075

$1.13

$904

$0.96

Administrative

767

0.74

514

0.58

470

0.52

418

0.44

322

0.34

Marketing

28

0.03

52

0.06

47

0.05

63

0.07

55

0.06

Management Fees

432

0.41

428

0.49

465

0.51

438

0.46

401

0.42

Utilities

678

0.65

741

0.84

852

0.94

873

0.92

705

0.75

Carpeting

111

0.11

132

0.15

129

0.14

130

0.14

131

0.14

Painting

67

0.06

55

0.06

40

0.04

75

0.08

46

0.05

Landscaping

159

0.15

156

0.18

175

0.19

188

0.20

126

0.13

HVAC

55

0.05

65

0.07

53

0.06

77

0.08

39

0.04

Appliances

42

0.04

46

0.05

42

0.05

82

0.09

34

0.04

Plumbing

35

0.03

51

0.06

45

0.05

62

0.07

28

0.03

Electrical

11

0.01

25

0.03

30

0.03

36

0.04

18

0.02

Other Repairs and Services

1,040

1.00

774

0.88

897

0.99

1,033

1.09

914

0.97

Insurance

394

0.38

293

0.33

275

0.30

250

0.26

281

0.30

Real Estate Taxes

444

0.43

439

0.50

414

0.46

450

0.47

557

0.59

Other Taxes

108

0.10

121

0.14

109

0.12

73

0.08

102

0.11

Total Expenses

$5,304

$5.09

$5,000

$5.68

$5,129

$5.65

$5,323

$5.62

$4,663

$4.95

Net Operating Income Before Debt Service and Depreciation

$1,693

$1.63

$2,670

$3.04

$2,953

$3.30

$2,548

$2.67

$3,059

$3.22

Capital Expenditures

$283

$0.27

$219

$0.25

$67

$0.07

$213

$0.22

$156

$0.17

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

10 | RubinBrown Apartment Stats 2012