RubinBrown Apartment Stats 2015

Market Rate

2014

2013

2012

Total Number of Projects

38

45

34

Average Number of Units

279

263

248

Averages Per Unit: Monthly Rent

$806

$780

$766

Square Feet

942

909

926

Rooms

4.00

4.00

4.14

Economic Occupancy

86.2%

85.8%

85.0%

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

47.8%

45.9%

49.0%

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$9,666

$10.26

100.0%

$9,358

$10.30

100.0%

$9,193

$9.93

100.0%

Less: Vacancy Loss

(887)

(0.94)

-9.2%

(908)

(1.00)

-9.7%

(824)

(0.89)

-9.0%

Collection Loss

(90)

(0.10)

-1.0%

(121)

(0.13)

-1.3%

(116)

(0.13)

-1.3%

(349)

(0.37)

-3.6%

(303)

(0.33)

-3.2%

(435)

(0.47)

-4.7%

Concession Loss

Rent Collected

8,340

$8.85

86.2%

8,026

8.84

85.8%

7,818

8.44

85.0%

1,039

1.10

10.7%

1,088

1.20

11.6%

821

0.89

8.9%

Other Income

$9,379

$9.95

96.9%

$9,114

$10.04

97.4%

$8,639

$9.33

93.9%

Total Income

Expenses

Salaries and Personnel

$981

$1.04

10.1%

$939

$1.03

10.0%

$976

$1.05

10.6%

Administrative

427

0.45

4.4%

438

0.48

4.7%

305

0.33

3.3%

Marketing

139

0.15

1.4%

153

0.17

1.6%

127

0.14

1.4%

Management Fees

395

0.42

4.1%

419

0.46

4.5%

350

0.38

3.8%

Utilities

665

0.71

6.9%

664

0.73

7.1%

596

0.64

6.5%

All Repairs and Maintenance and Contract Services

1,035

1.10

10.7%

1,050

1.16

11.2%

1,054

1.14

11.6%

Insurance

267

0.28

2.8%

311

0.34

3.3%

264

0.28

2.9%

Real Estate Taxes

900

0.95

9.3%

841

0.93

9.0%

690

0.75

7.5%

82

0.09

0.8%

120

0.13

1.3%

48

0.05

0.5%

Other Taxes

Total Expenses

$4,891

$5.19

50.5%

$4,935

$5.43

52.7%

$4,410

$4.76

48.1%

Net Operating Income Before Debt Service and Depreciation

$4,488

$4.76

46.4%

$4,179

$4.61

44.7%

$4,229

$4.57

45.8%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

12 | RubinBrown Apartment Stats 2015