RubinBrown Apartment Stats 2015

Government Assisted by Project Size

0-50 Units

51-100 Units

101-150 Units

151-200 Units

Over 200 Units

Total Number of Projects

138

141

121

60

56

Average Project Age In Years

9.2

12.6

11.7

15.2

12.7

Average Number of Units

32

76

122

176

272

Averages Per Unit: Monthly Rent

$629

$683

$761

$766

$754

Square Feet

1,049

910

909

924

932

Rooms

4.98

4.27

4.30

4.30

4.43

Economic Occupancy

91.1%

92.3%

90.4%

88.0%

86.1%

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

20.6%

32.6%

37.4%

33.0%

40.6%

A

B

A

B

A

B

A

B

A

B

Revenues

Gross Potential Rent

$7,544

$7.19

$8,196

$9.01

$9,131 $10.05

$9,198

$9.95

$9,053 $9.71

Less: Vacancy Loss

(400) (0.38)

(493) (0.54)

(701) (0.77)

(880) (0.95)

(969) (1.04)

Collection Loss

(124) (0.12)

(96) (0.11)

(118) (0.13)

(161) (0.17)

(121) (0.13)

Concession Loss

(148) (0.14)

(39) (0.04)

(56) (0.06)

(65) (0.07)

(169) (0.18)

Rent Collected

6,872

6.55

7,568

8.32

8,256

9.09

8,092

8.76

7,749

8.36

Other Income Total Income

658

0.63

389

0.43

468

0.51

400

0.43

474

0.51

$7,530

$7.18

$7,957

$8.75

$8,724

$9.60

$8,492

$9.19

$8,268 $8.87

Expenses

Salaries and Personnel

$920

$0.88

$1,173

$1.29

$1,153

$1.27

$1,113

$1.20

$926

$0.99

Administrative

707 0.67

576

0.63

461

0.51

491

0.53

414

0.44

Marketing

36

0.03

49

0.05

55

0.06

70

0.08

58

0.06

Management Fees

419

0.40

455

0.50

509

0.56

445

0.48

464

0.50

Utilities

708

0.67

755

0.83

931

1.02

969

1.05

717

0.77

Carpeting

61

0.06

133

0.15

155 0.17

156

0.17

117

0.13

Painting

39

0.04

40

0.04

48

0.05

63

0.07

68

0.07

Landscaping

118

0.11

144

0.16

154

0.17

123

0.13

97

0.10

HVAC

49

0.05

58

0.06

56

0.06

52

0.06

42

0.05

Appliances

43

0.04

46

0.05

48

0.05

62

0.07

64

0.07

Plumbing

26

0.02

36

0.04

59

0.06

68

0.07

36

0.04

Electrical

53

0.05

76

0.08

73

0.08

45

0.05

66

0.07

Other Repairs and Services

935

0.89

860

0.95

827

0.91

983

1.06

766

0.82

Insurance

454

0.43

352 0.39

305

0.34

321

0.35

376

0.40

Real Estate Taxes

502

0.48

467

0.51

468

0.51

535

0.58

570

0.61

Other Taxes

90

0.09

122

0.13

97

0.11

95

0.10

34

0.04

Total Expenses

$5,160

$4.91

$5,342

$5.86

$5,399

$5.93

$5,591

$6.05

$4,815

$5.16

Net Operating Income Before Debt Service and Depreciation

$2,370 $2.27

$2,615

$2.89

$3,325

$3.67

$2,901

$3.14

$3,453

$3.71

Capital Expenditures

$291

$0.28

$402

$0.44

$374

$0.41

$307 $0.33

$275

$0.30

A = Dollars per unit, per year

B = Dollars per square foot, per year

10 | RubinBrown Apartment Stats 2015