RubinBrown Apartment Stats 2015

Government Assisted

2014

2013

2012

Total Number of Projects

516

371

386

Average Number of Units

108

108

107

Averages Per Unit: Monthly Rent

$735

$702

$699

Square Feet

944

952

932

Rooms

4.46

4.34

4.31

Economic Occupancy

89.1%

90.8%

88.6%

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

35.3%

36.3%

35.4%

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$8,816

$9.34

100.0%

$8,421

$8.85

100.0%

$8,383

$8.99

100.0%

Less: Vacancy Loss

(744)

(0.79)

-8.4%

(597)

(0.63)

-7.1%

(758)

(0.81)

-9.0%

Collection Loss

(123)

(0.13)

-1.4%

(111)

(0.12)

-1.3%

(127)

(0.14)

-1.5%

Concession Loss

(93)

(0.10)

-1.1%

(67)

(0.07)

-0.8%

(79)

(0.08)

-0.9%

Rent Collected

7,856

8.32

89.1%

7,646

8.03

90.8%

7,419

7.96

88.6%

Other Income

456

0.48

5.2%

400

0.42

4.8%

375

0.40

4.5%

Total Income

$8,312

$8.80

94.3%

$8,046

$8.45

95.6%

$7,794

$8.36

93.1%

Expenses

Salaries and Personnel

$1,068

$1.13

12.1%

$1,079

$1.13

12.8%

$1,031

$1.11

12.3%

Administrative

496

0.53

5.6%

469

0.49

5.6%

453

0.49

5.4%

Marketing

56

0.06

0.6%

52

0.05

0.6%

52

0.06

0.6%

Management Fees

467

0.49

5.3%

449

0.47

5.3%

434

0.47

5.2%

Utilities

827

0.88

9.4%

867

0.91

10.3%

784

0.84

9.4%

All Repair, Maintenance and Contract Services

1,386

1.48

15.7%

1,333

1.40

15.8%

1,428

1.54

17.0%

Insurance

348

0.37

4.0%

327

0.34

3.9%

284

0.30

3.4%

Real Estate Taxes

511

0.54

5.8%

467

0.49

5.5%

464

0.50

5.5%

Other Taxes

84

0.09

1.0%

82

0.09

1.0%

103

0.11

1.2%

Total Expenses

$5,243

$5.57

59.5%

$5,125

$5.37

60.8%

$5,033

$5.42

60.0%

Net Operating Income Before Debt Service and Depreciation

$3,069

$3.23

34.8%

$2,921

$3.08

34.8%

$2,761

$2.94

33.1%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

4 | RubinBrown Apartment Stats 2015