RubinBrown Apartment Stats 2015

Government Assisted by Region

North

East/Northeast

Midwest

South/Southeast

Total Number of Projects

23

67

276

89

Average Project Age In Years

10.0

13.6

12.6

10.2

Average Number of Units

97

115

105

104

Averages Per Unit: Monthly Rent

$687

$826

$725

$651

Square Feet

963

917

926

1,036

Rooms

4.29

4.43

4.41

4.97

Economic Occupancy

92.0%

90.8%

86.1%

91.2%

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

29.5%

37.3%

36.1%

27.6%

A

B

C

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$8,249

$8.57 100.0%

$9,910 $10.81 100.0%

$8,700

$9.40 100.0%

$7,818 $7.55 100.0%

Less: Vacancy Loss

(523) (0.54)

-6.3%

(732) (0.80)

-7.4%

(937) (1.01) -10.8%

(517) (0.50)

-6.6%

Collection Loss

(115) (0.12)

-1.4% -0.3%

(128) (0.14)

-1.3% -0.5%

(131) (0.14) (136) (0.15)

-1.5% -1.6%

(120) (0.12)

-1.5% -0.7%

(28) (0.03)

(47) (0.05)

(53) (0.05)

Concession Loss

Rent Collected

7,583

7.88 0.54

92.0%

9,003

9.82 0.53

90.8%

7,496

8.10 86.1%

7,128

6.88 0.44

91.2%

524

6.3%

483

4.9%

452

0.49

5.2%

451

5.8%

Other Income Total Income

$8,107

$8.42 98.3%

$9,486 $10.35 95.7%

$7,948

$8.59 91.3%

$7,579 $7.32 97.0%

Expenses

Salaries and Personnel

$1,002

$1.04

12.1%

$1,185

$1.29

12.0%

$1,000

$1.08

11.5%

$1,101

$1.06

14.1%

Administrative

507

0.53

6.1%

443

0.48

4.5%

451

0.49

5.2%

625

0.60

8.0%

Marketing

46

0.05

0.6%

44

0.05

0.4%

64

0.07

0.7%

45

0.04

0.6%

Management Fees

466

0.48

5.6%

575

0.63

5.8%

425

0.46

4.9%

450

0.43

5.8%

Utilities

1,001

1.04

12.1%

958

1.04

9.7%

728

0.79

8.4%

768

0.74

9.8%

Carpeting

202

0.21

2.5%

195

0.21

2.0%

101

0.11

1.2%

152

0.15

1.9%

Painting

76

0.08

0.9%

65

0.07

0.7%

42 0.05

0.5%

96

0.09

1.2%

Landscaping

123

0.13

1.5%

171

0.19

1.7%

86

0.09

1.0%

214

0.21

2.7%

HVAC

45

0.05 0.5%

82

0.09

0.8%

36

0.04

0.4%

75

0.07

1.0%

Appliances

30

0.03

0.4%

77

0.08

0.8%

34 0.04

0.4%

83

0.08

1.1%

Plumbing

52

0.05

0.6%

77

0.08

0.8%

23

0.03

0.3%

68 0.07

0.9%

Electrical

43

0.04

0.5%

42

0.05

0.4%

80

0.09

0.9%

31

0.03

0.4%

Other Repairs and Services

906

0.94

11.0%

949

1.03 9.6%

878

0.95

10.1%

730

0.71

9.3%

Insurance

276

0.29

3.3%

295

0.32

3.0%

341

0.37

3.9%

460

0.44

5.9%

Real Estate Taxes

741 201

0.77 0.21

9.0% 2.4%

727

0.79 0.05

7.3% 0.5%

490

0.53 5.6%

402 178

0.39 0.17

5.1% 2.3%

48

59

0.06

0.7%

Other Taxes

Total Expenses

$5,717

$5.94 69.1%

$5,933

$6.45 60.0%

$4,838

$5.25

55.7%

$5,478

$5.27

70.1%

Net Operating Income Before Debt Service & Depreciation

$2,390

$2.48 29.2%

$3,553

$3.90 35.7%

$3,110

$3.34

35.6%

$2,101

$2.05 26.9%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

8 | RubinBrown Apartment Stats 2015