RubinBrown Apartment Stats 2016

GOVERNMENT ASSISTED BY REGION

North

East/Northeast

Midwest

South/Southeast

Total Number of Projects

21

57

218

74

Average Project Age In Years

10.7

12.4

10.2

9.1

Average Number of Units

96

115

107

103

Averages Per Unit: Monthly Rent

$661

$759

$727

$707

Square Feet

1009

935

894

1,008

Rooms

4.24

4.39

4.37

5.03

Economic Occupancy

92.2%

89.8%

87.6%

92.7%

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

21.8%

28.8%

30.5%

25.2%

A

B

C

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$7,941

$9.87 100.0%

$9,520 $10.18 100.0%

$8,724

$9.76 100.0%

$8,481 $8.41 100.0%

Less: Vacancy Loss

(468) (0.46)

-5.9%

(697) (0.74)

-7.7%

(742) (0.83)

-8.5%

(406) (0.40)

-4.8%

Collection Loss

(108) (0.11)

-1.4% -0.5%

(197) (0.21)

-2.2% -0.3%

(188) (0.21) (148) (0.17)

-2.2% -1.7%

(164) (1.16)

-1.9% -0.6%

(39) (0.04)

(29) (0.03)

(51) (0.05)

Concession Loss

Rent Collected

7,326

7.26

92.2%

8,597

9.19 0.46

90.3%

7,646

8.55 87.6%

7,860

7.80 0.35

92.7%

418 0.41

5.3%

430

4.7%

426

0.48

4.9%

350

4.1%

Other Income Total Income

$7,744

$7.67 97.5%

$9,027

$9.65 94.8%

$8,072

$9.03 92.5%

$8,210 $8.15 96.8%

Expenses

Salaries and Personnel

$1,073

$1.06

13.5%

$1,172

$1.25

12.9%

$1,216

$1.36

13.9%

$1,191

$1.18

14.0%

Administrative

574

0.57

7.2%

511

0.55

5.6%

484

0.54

5.5%

762

0.76

9.0%

Marketing

50

0.05

0.6%

128

0.14

1.4%

53

0.06

0.6%

47

0.05

0.6%

Management Fees

489

0.48

6.2%

515 0.55

5.7%

430

0.48

4.9%

489

0.49

5.8%

Utilities

987

0.98

12.4%

915

0.98

10.1%

861

0.96

9.9%

796

0.79

9.4%

Carpeting

181

0.18

2.3%

213

0.23

2.3%

173

0.19

2.0%

157 0.16

1.9%

Painting

23

0.02

0.3%

49

0.05

0.5%

58 0.06

0.7%

102

0.10

1.2%

Landscaping

137

0.14 1.7%

193

0.21

2.1%

106

0.12

1.2%

236

0.23

28%

HVAC

43

0.04 0.5%

89

0.09

1.0%

52

0.06

0.6%

131

0.13

1.5%

Appliances

31

0.03

0.4%

96

0.10

1.1%

60 0.07

0.7%

76 0.08

0.9%

Plumbing

55

0.05

0.7%

95

0.10

1.0%

42

0.05

0.5%

54 0.06

0.7%

Electrical

20

0.02

0.2%

44

0.05

0.5%

58

0.07

0.7%

31

0.03

0.4%

Other Repairs and Services

1,121

1.11

14.1%

1,086

1.14 11.7%

1,014

1.13

11.6%

1,096

1.09

12.9%

Insurance

300

0.30

3.8%

277

0.30

3.0%

391

0.44

4.5%

399

0.40

4.7%

Real Estate Taxes

761

0.75

9.6% 2.8%

687

0.73 0.07

7.5% 0.7%

483 128

0.54 5.5%

409 160

0.41 0.16

4.8% 1.9%

220 0.22

62

0.14

1.5%

Other Taxes

Total Expenses

$6,056

$6.00

76.3%

$6,132

$6.54 67.1%

$5,609

$6.27

64.3%

$6,139 $6.12

72.5%

Net Operating Income Before Debt Service & Depreciation

$1,688

$1.67

21.2%

$2,895

$3.10 30.4%

$2,463 $2.76

28.2%

$2,071

$2.03 24.3%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

8 | RubinBrown Apartment Stats 2016