RubinBrown Apartment Stats 2016

GOVERNMENT ASSISTED

2015

2014

2013

Total Number of Projects

425

516

371

Average Number of Units

109

108

108

Averages Per Unit: Monthly Rent

$750

$735

$702

Square Feet

951

944

952

Rooms

4.41

4.46

4.34

Economic Occupancy

90.0%

89.1%

90.8%

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

31.0%

35.3%

36.3%

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$9,004

$9.47

100.0%

$8,816

$9.34

100.0%

$8,421

$8.85

100.0%

Less: Vacancy Loss

(617)

(0.65)

-6.9%

(744)

(0.79)

-8.4%

(597)

(0.63)

-7.1%

Collection Loss

(167)

(0.18)

-1.9%

(123)

(0.13)

-1.4%

(111)

(0.12)

-1.3%

Concession Loss

(104)

(0.11)

-1.2%

(93)

(0.10)

-1.1%

(67)

(0.07)

-0.8%

Rent Collected

8,116

8.53

90.0%

7,856

8.32

89.1%

7,646

8.03

90.8%

Other Income

353

0.37

3.9%

456

0.48

5.2%

400

0.42

4.8%

Total Income

$8,469

$8.90

93.9%

$8,312

$8.80

94.3%

$8,046

$8.45

95.6%

Expenses

Salaries and Personnel

$1,211

$1.27

13.5%

$1,068

$1.13

12.1%

$1,079

$1.13

12.8%

Administrative

487

0.51

5.4%

496

0.53

5.6%

469

0.49

5.6%

Marketing

62

0.07

0.7%

56

0.06

0.6%

52

0.05

0.6%

Management Fees

471

0.50

5.2%

467

0.49

5.3%

449

0.47

5.3%

Utilities

925

0.97

10.3%

827

0.88

9.4%

867

0.91

10.3%

All Repair, Maintenance and Contract Services

1,680

1.76

18.6%

1,386

1.48

15.7%

1,333

1.40

15.8%

Insurance

369

0.39

4.1%

348

0.37

4.0%

327

0.34

3.9%

Real Estate Taxes

510

0.54

5.7%

511

0.54

5.8%

467

0.49

5.5%

Other Taxes

129

0.14

1.4%

84

0.09

1.0%

82

0.09

1.0%

Total Expenses

$5,884

$6.15

64.9%

$5,243

$5.57

59.5%

$5,125

$5.37

60.8%

Net Operating Income Before Debt Service and Depreciation

$2,625

$2.75

29.0%

$3,069

$3.23

34.8%

$2,921

$3.08

34.8%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

4 | RubinBrown Apartment Stats 2016