RubinBrown Apartment Stats 2018

GOVERNMENT ASSISTED

2017

2016

2015

Total Number of Projects Average Number of Units

701

562 106

425 109

105

Averages Per Unit: Monthly Rent

$ 767

$802

$750

Square Feet

923

899

951

Rooms

4.50

4.50

4.41

Economic Occupancy

92.3%

92.1%

90.0%

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

34.5%

35.4%

31.0%

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$9,208

$9.98

100.0%

$9,514

$10.58 (0.83) (0.15) (0.10)

100.0%

$9,004

$9.47

100.0%

(708) (130)

(0.77) (0.14) (0.05)

-7.7% -1.4% -0.5% 90.4%

(749) (134)

-7.9% -1.4% -0.9% 89.8%

(617) (167) (104) 8,116

(0.65) (0.18) (0.11)

-6.9% -1.9% -1.2% 90.0%

Collection Loss

Concession Loss

(46)

(88)

Rent Collected

8,324

9.02 0.80

8,543

9.50 0.73

8.53 0.37

Other Income

742

8.1%

661

6.9%

353

3.9%

Total Income

$9,066

$9.82

98.5%

$9,204

$10.23

96.7%

$8,469

$8.90

93.9%

Expenses Salaries and Personnel

$1,087

$1.18

11.8%

$1,079

$1.20

11.3%

$1,211

$1.27

13.5%

Administrative

735

0.80 0.08 0.50 0.96

8.0% 0.8% 5.0% 9.7%

560

0.62 0.08 0.53 0.98

5.9% 0.7% 5.0% 9.2%

487

0.51 0.07 0.50 0.97

5.4% 0.7% 5.2%

Marketing

78

71

62

Management Fees

461 890

476 879

471 925

Utilities

10.3%

All Repair, Maintenance and Contract Services

1,477

1.61

16.1%

1,645

1.83

17.3%

1,680

1.76

18.6%

Insurance

333 577 302

0.36 0.63 0.33

3.6% 6.3% 3.3%

367 578 288

0.41 0.64 0.32

3.9% 6.1% 3.0%

369 510 129

0.39 0.54 0.14

4.1% 5.7% 1.4%

Real Estate Taxes

Other Taxes

Total Expenses

$5,940

$6.45

64.6%

$5,943

$6.61

62.4%

$5,884

$6.15

64.9%

Net Operating Income Before Debt Service and Depreciation

$3,126

$3.37

33.9%

$3,261

$3.63

34.3%

$2,625

$2.75

29.0%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2018

4