RubinBrown Apartment Stats 2016

MARKET RATE

2015

2014

2013

Total Number of Projects

31

38

45

Average Number of Units

266

279

263

Averages Per Unit: Monthly Rent

$897

$806

$780

Square Feet

926

942

909

Rooms

3.60

4.00

4.00

Economic Occupancy

87.3%

86.2%

85.8%

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

50.3%

47.8%

45.9%

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$10,763 $11.62 100.0%

$9,666

$10.26

100.0%

$9,358

$10.30

100.0%

Less: Vacancy Loss

(929)

(1.00)

-8.6%

(887)

(0.94)

-9.2%

(908)

(1.00)

-9.7%

Collection Loss

(101)

(0.11)

-0.9%

(90)

(0.10)

-1.0%

(121)

(0.13)

-1.3%

(334)

(0.36)

-3.1%

(349)

(0.37)

-3.6%

(303)

(0.33)

-3.2%

Concession Loss

Rent Collected

9,399 $10.15

87.4%

8,340

$8.85

86.2%

8,026

8.84

85.8%

945

1.02

8.8%

1,039

1.10

10.7%

1,088

1.20

11.6%

Other Income

$10,345 $11.17

96.2%

$9,379

$9.95

96.9%

$9,114

$10.04

97.4%

Total Income

Expenses

Salaries and Personnel

$1,044

$1.13

9.7%

$981

$1.04

10.1%

$939

$1.03

10.0%

Administrative

480

.52

4.5%

427

0.45

4.4%

438

0.48

4.7%

Marketing

168

.18

1.6%

139

0.15

1.4%

153

0.17

1.6%

Management Fees

476

.51

4.4%

395

0.42

4.1%

419

0.46

4.5%

Utilities

648

.70

6.0%

665

0.71

6.9%

664

0.73

7.1%

All Repairs and Maintenance and Contract Services

939

1.01

8.7%

1,035

1.10

10.7%

1,050

1.16

11.2%

Insurance

279

.30

2.6%

267

0.28

2.8%

311

0.34

3.3%

Real Estate Taxes

1,005

1.09

9.3%

900

0.95

9.3%

841

0.93

9.0%

96

0.10

0.9%

82

0.09

0.8%

120

0.13

1.3%

Other Taxes

Total Expenses

$5,135

$5.54

47.7%

$4,891

$5.19

50.5%

$4,935

$5.43

52.7%

Net Operating Income Before Debt Service and Depreciation

$5,208

$5.62

48.4%

$4,488

$4.76

46.4%

$4,179

$4.61

44.7%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

12 | RubinBrown Apartment Stats 2016