RubinBrown Apartment Stats 2014

Government Assisted

2013

2012

2011

Total Number of Projects

371

386

372

Average Number of Units

108

107

105

Averages Per Unit:

Monthly Rent

$702

$699

$721

Square Feet

952

932

964

Rooms

4.34

4.31

4.32

Economic Occupancy

90.8%

88.6%

89.4%

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

36.3%

35.4%

40.0%

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$8,421

$8.85

100.0%

$8,383

$8.99

100.0%

$8,653

$8.98

100.0%

Less: Vacancy Loss

(597)

(0.63)

-7.1%

(758)

(0.81)

-9.0%

(704)

(0.73)

-8.1%

Collection Loss

(111)

(0.12)

-1.3%

(127)

(0.14)

-1.5%

(130)

(0.13)

-1.5%

Concession Loss

(67)

(0.07)

-0.8%

(79)

(0.08)

-0.9%

(84)

(0.09)

-1.0%

Rent Collected

7,646

8.03

90.8%

7,419

7.96

88.6%

7,735

8.03

89.4%

Other Income

400

0.42

4.8%

375

0.40

4.5%

469

0.49

5.4%

Total Income

$8,046

$8.45

95.6%

$7,794

$8.36

93.1%

$8,204

$8.52

94.8%

Expenses

Salaries and Personnel

$1,079

$1.13

12.8%

$1,031

$1.11

12.3%

$892

$0.93

10.3%

Administrative

469

0.49

5.6%

453

0.49

5.4%

454

0.47

5.2%

Marketing

52

0.05

0.6%

52

0.06

0.6%

102

0.11

1.2%

Management Fees

449

0.47

5.3%

434

0.47

5.2%

444

0.46

5.1%

Utilities

867

0.91

10.3%

784

0.84

9.4%

831

0.86

9.6%

All Repair, Maintenance and Contract Services

1,333

1.40

15.8%

1,428

1.54

17.0%

1,475

1.53

17.1%

Insurance

327

0.34

3.9%

284

0.30

3.4%

350

0.36

4.0%

Real Estate Taxes

467

0.49

5.5%

464

0.50

5.5%

514

0.53

5.9%

Other Taxes

82

0.09

1.0%

103

0.11

1.2%

110

0.11

1.3%

Total Expenses

$5,125

$5.37

60.8%

$5,033

$5.42

60.0%

$5,172

$5.36

59.7%

Net Operating Income Before Debt Service and Depreciation

$2,921

$3.08

34.8%

$2,761

$2.94

33.1%

$3,032

$3.16

35.1%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

4 | RubinBrown Apartment Stats 2014