RubinBrown Apartment Stats 2018

LOW INCOME TAX CREDIT PROJECTS

2017

2016

2015

Total Number of Projects Average Number of Units

597

466 111

386

107

99

Averages Per Unit: Monthly Rent

$771

$812

$709

Square Feet

929

885

952

Rooms

4.48

4.48

4.42

Economic Occupancy

93.2%

92.6%

90.6%

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

34.8%

36.6%

30.6%

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$9,253

$9.96

100.0%

$9,748

$11.01 (0.81) (0.14) (0.10)

100.0%

$8,513

$8.94

100.0%

(633) (117)

(0.68) (0.13) (0.04)

-6.8% -1.3% -0.4% 91.5%

(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%

Collection Loss

(41)

(87)

(63)

Concession Loss

Rent Collected

8,462

9.11 0.78

8,816

9.96 0.80

7,710

8.09 0.29

723

7.8%

707

7.2%

275

3.2%

Other Income

$9,185

$9.89

99.3%

$9,523

$10.76

97.7%

$7,985

$8.38

93.8%

Total Income

Expenses Salaries and Personnel

$1,084

$1.17

11.7%

$1,086

$1.23

11.1%

$1,172

$1.23

13.8%

Administrative

750

0.81 0.09 0.50 0.95

8.1% 0.9% 5.0% 9.6%

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%

Marketing

80

77

57

Management Fees

466 885

490 892

448 862

Utilities

10.1%

All Repair, Maintenance and Contract Services

1,467

1.58

15.9%

1,637

1.85

16.8%

1,631

1.71

19.2%

Insurance

329 621 311

0.35 0.67 0.33

3.6% 6.7% 3.4%

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%

Real Estate Taxes

96

Other Taxes

Total Expenses

$5,993

$6.45

64.9%

$6,034

$6.82

61.9%

$5,546

$5.82

65.2%

Net Operating Income Before Debt Service and Depreciation

$3,192

$3.44

34.4%

$3,489

$3.94

35.8%

$2,439

$2.56

28.6%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2018

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