RubinBrown Apartment Stats 2013

Government Assisted

2012

2011

2010

Total Number of Projects

386

372

363

Average Number of Units

107

105

115

Averages Per Unit:

Monthly Rent

$699

$721

$673

Square Feet

932

964

940

Rooms

4.31

4.32

4.34

Economic Occupancy

88.6%

89.4%

86.9%

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

35.4%

40.0%

37.8%

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$8,383

$8.99

100.0%

$8,653

$8.98

100.0%

$8,078

$8.59

100.0%

Less: Vacancy Loss

(758)

(0.81)

-9.0%

(704)

(0.73)

-8.1%

(826)

(0.88)

-10.2%

Collection Loss

(127)

(0.14)

-1.5%

(130)

(0.13)

-1.5%

(128)

(0.14)

-1.6%

Concession Loss

(79)

(0.08)

-0.9%

(84)

(0.09)

-1.0%

(105)

(0.11)

-1.3%

Rent Collected

7,419

7.96

88.6%

7,735

8.03

89.4%

7,019

7.46

86.9%

Other Income

375

0.40

4.5%

469

0.49

5.4%

410

0.44

5.1%

Total Income

$7,794

$8.36

93.1%

$8,204

$8.52

94.8%

$7,429

$7.90

92.0%

Expenses

Salaries and Personnel

$1,031

$1.11

12.3%

$892

$0.93

10.3%

$801

$0.85

9.9%

Administrative

453

0.49

5.4%

454

0.47

5.2%

422

0.45

5.2%

Marketing

52

0.06

0.6%

102

0.11

1.2%

96

0.10

1.2%

Management Fees

434

0.47

5.2%

444

0.46

5.1%

406

0.43

5.0%

Utilities

784

0.84

9.4%

831

0.86

9.6%

717

0.76

8.9%

All Repair, Maintenance and Contract Services

1,428

1.54

17.0%

1,475

1.53

17.1%

1,324

1.41

16.4%

Insurance

284

0.30

3.4%

350

0.36

4.0%

298

0.32

3.7%

Real Estate Taxes

464

0.50

5.5%

514

0.53

5.9%

461

0.49

5.7%

Other Taxes

103

0.11

1.2%

110

0.11

1.3%

95

0.10

1.2%

Total Expenses

$5,033

$5.42

60.0%

$5,172

$5.36

59.7%

$4,620

$4.91

57.2%

Net Operating Income Before Debt Service and Depreciation

$2,761

$2.94

33.1%

$3,032

$3.16

35.1%

$2,809

$2.99

34.8%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

4 | RubinBrown Apartment Stats 2012