RubinBrown Apartment Stats 2016

GOVERNMENT ASSISTED BY PROJECT SIZE

0-50 Units

51-100 Units

101-150 Units

151-200 Units

Over 200 Units

Total Number of Projects

125

119

96

42

43

Average Project Age In Years

8.3

9.6

11.2

12.7

12.1

Average Number of Units

32

73

116

165

274

Averages Per Unit: Monthly Rent

$653

$709

$767

$800

$769

Square Feet

1,060

916

900

943

921

Rooms

4.92

4.19

4.24

4.11

4.41

Economic Occupancy

94.3%

92.9%

90.1%

86.7%

88.0%

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

30.1%

26.6%

28.8%

28.4%

33.3%

A

B

A

B

A

B

A

B

A

B

Revenues

Gross Potential Rent

$7,836

$7.39

$8,513

$9.29

$9,198 $10.23

$9,599 $10.18

$9,226 $10.01

Less: Vacancy Loss

(136) (0.13)

(421) (0.46)

(606) (0.67)

(896) (0.95)

(770) (0.84)

Collection Loss

(160) (0.15)

(132) (0.14)

(143) (0.16)

(221) (0.23)

(186) (0.20)

Concession Loss

(159) (0.15)

(42) (0.05)

(154) (0.17)

(167) (0.18)

(158) (0.17)

Rent Collected

7,381

6.69

7,918 8.64

8,295

9.23

8,315 8.82

8,112

8.80

Other Income Total Income

448

0.42

309

0.34

382 0.42

593 0.63

186 0.20

$7,829

$7.38

$8,227

$8.98

$8,677

$9.65

$8,908

$9.45

$8,298 $9.00

Expenses

Salaries and Personnel

$936

$0.88

$1,427

$1.56

$1,250

$1.39

$1,272

$1.35

$1,073

$1.16

Administrative

678 0.64

646

0.71

593

0.66

558

0.59

437

0.47

Marketing

21 0.02

48

0.05

44

0.05

54

0.06

108 0.12

Management Fees

451

0.43

461

0.50

515

0.57

467

0.50

445

0.48

Utilities

731

0.69

834

0.91

1,101

1.22

1,030

1.09

829

0.90

Carpeting

67

0.06

180

0.20

190 0.21

177

0.19

193

0.21

Painting

39 0.04

67

0.07

50

0.06

58

0.06

66

0.07

Landscaping

111

0.11

182 0.20

175

0.19

144

0.15

124

0.13

HVAC

59

0.06

72

0.08

68

0.08

72

0.08

76

0.08

Appliances

36

0.03

61 0.07

95

0.08

67

0.07

92 0.10

Plumbing

21

0.02

48 0.05

84 0.09

75

0.08

48

0.05

Electrical

143

0.13

61 0.07

70

0.08

253

0.27

202

0.22

Other Repairs and Services

1,034 0.97

993 1.08

1,042

1.16

1,117 1.18

1,055

1.14

Insurance

468

0.44

352 0.38

336

0.37

391

0.41

368

0.40

Real Estate Taxes

536

0.51

458

0.50

459

0.51

530

0.56

576

0.63

Other Taxes

140

0.13

149

0.16

127

0.14

117

0.12

119

0.13

Total Expenses

$5,471

$5,16

$6,039

$6.59

$6,180

$6.86

$6,382

$6.76

$5,811

$6.31

Net Operating Income Before Debt Service and Depreciation

$2,358 $2.22

$2,188

$2.39

$2,497

$2.79

$2,526 $2.69

$2,487 $2.70

Capital Expenditures

$123

$0.12

$339

$0.37

$433

$0.48

$248 $0.26

$328

$0.36

A = Dollars per unit, per year

B = Dollars per square foot, per year

10 | RubinBrown Apartment Stats 2016