RubinBrown Apartment Stats 2017

LOW INCOME TAX CREDIT PROJECTS

2016

2015

2014

Total Number of Projects Average Number of Units

466 111

386

508 108

99

Averages Per Unit: Monthly Rent

$812

$709

$735

Square Feet

885

952

952

Rooms

4.48

4.42

4.51

Economic Occupancy

92.6%

90.6%

88.9%

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

36.6%

30.6%

35.3%

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$9,748

$11.01 (0.81) (0.14) (0.10)

100.0%

$8,513

$8.94

100.0%

$8,824

$9.27

100.0%

(717) (128)

-7.4% -1.3% -0.9% 90.4%

(580) (160)

(0.61) (0.17) (0.07)

-6.8% -1.9% -0.7% 90.6%

(757) (123)

(0.79) (0.13) (0.10)

-8.6% -1.4% -1.1% 88.9%

Collection Loss

(87)

(63)

(94)

Concession Loss

Rent Collected

8,816

9.96 0.80

7,710

8.09 0.29

7,850

8.25 0.47

707

7.2%

275

3.2%

450

5.1%

Other Income

$9,523

$10.76

97.7%

$7,985

$8.38

93.8%

$8,300

$8.72

94.0%

Total Income

Expenses Salaries and Personnel

$1,086

$1.23

11.1%

$1,172

$1.23

13.8%

$1,071

$1.12

12.1%

Administrative

570

0.64 0.09 0.55 1.01

5.9% 0.8% 5.0% 9.1%

452

0.47 0.06 0.47 0.91

5.3% 0.7% 5.3%

489

0.51 0.06 0.49 0.86

5.5% 0.6% 5.3% 9.3%

Marketing

77

57

57

Management Fees

490 892

448 862

467 818

Utilities

10.1%

All Repair, Maintenance and Contract Services

1,637

1.85

16.8%

1,631

1.71

19.2%

1,531

1.61

17.3%

Insurance

362 624 296

0.41 0.71 0.33

3.7% 6.4% 3.0%

352 451

0.37 0.47 0.13

4.1% 5.3% 1.4%

349 509

0.37 0.53 0.09

4.0% 5.8% 0.9%

Real Estate Taxes

96

82

Other Taxes

Total Expenses

$6,034

$6.82

61.9%

$5,546

$5.82

65.2%

$5,373

$5.64

60.8%

Net Operating Income Before Debt Service and Depreciation

$3,489

$3.94

35.8%

$2,439

$2.56

28.6%

$2,927

$3.08

33.2%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2017

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