RubinBrown Apartment Stats 2013

Market Rate

2012

2011

2010

Total Number of Projects

34

35

20

Average Number of Units

248

246

238

Averages Per Unit:

Monthly Rent

$766

$674

$763

Square Feet

926

938

932

Rooms

4.14

4.20

4.30

Economic Occupancy

85.0%

88.6%

82.8%

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

49.0%

49.4%

45.5%

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$9,193

$9.93

100.0%

$8,093

$8.63

100.0%

$9,153

$9.82

100.0%

Less: Vacancy Loss

(824)

(0.89)

-9.0%

(438)

(0.47)

-5.4%

(942)

(1.01)

-10.3%

Collection Loss

(116)

(0.13)

-1.3%

(62)

(0.07)

-0.8%

(113)

(0.12)

-1.2%

(435)

(0.47)

-4.7%

(420)

(0.45)

-5.2%

(520)

(0.56)

-5.7%

Concession Loss

Rent Collected

7,818

8.44

85.0%

7,173

7.64

88.6%

7,578

8.13

82.8%

821

0.89

8.9%

630

0.67

7.8%

692

0.74

7.6%

Other Income

$8,639

$9.33

93.9%

$7,803

$8.31

96.4%

$8,270

$8.87

90.4%

Total Income

Expenses

Salaries and Personnel

$976

$1.05

10.6%

$762

$0.81

9.4%

$794

$0.85

8.7%

Administrative

305

0.33

3.3%

339

0.36

4.2%

323

0.35

3.5%

Marketing

127

0.14

1.4%

104

0.11

1.3%

141

0.15

1.5%

Management Fees

350

0.38

3.8%

319

0.34

4.0%

330

0.35

3.6%

Utilities

596

0.64

6.5%

584

0.62

7.2%

645

0.69

7.1%

All Repairs and Maintenance and Contract Services

1,054

1.14

11.6%

883

0.94

10.9%

1,137

1.22

12.4%

Insurance

264

0.28

2.9%

233

0.25

2.9%

319

0.34

3.5%

Real Estate Taxes

690

0.75

7.5%

647

0.69

8.0%

673

0.72

7.3%

48

0.05

0.5%

76

0.08

0.9%

145

0.15

1.6%

Other Taxes

Total Expenses

$4,410

$4.76

48.1%

$3,947

$4.20

48.8%

$4,507

$4.82

49.2%

Net Operating Income Before Debt Service and Depreciation

$4,229

$4.57

45.8%

$3,856

$4.11

47.6%

$3,763

$4.05

41.2%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

12 | RubinBrown Apartment Stats 2012