RubinBrown Apartment Stats 2019

LOW INCOME TAX CREDIT PROJECTS

2018

2017

2016

Total Number of Projects Average Number of Units

595

597

466 111

109

107

Averages Per Unit: Monthly Rent

$833

$771

$812

Square Feet

913

929

885

Rooms

4.47

4.48

4.48

Economic Occupancy

92.7%

93.2%

92.6%

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

35.0%

34.8%

36.6%

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$9,996

$10.95 (0.80) (0.15) (0.08)

100.0%

$9,253

$9.96

100.0%

$9,748

$11.01 (0.81) (0.14) (0.10)

100.0%

(732) (134)

-7.3% -1.3% -0.7% 90.6%

(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%

Collection Loss

(74)

(41)

(87)

Concession Loss

Rent Collected

9,056

9.92 0.72

8,462

9.11 0.78

8,816

9.96 0.80

655

6.6%

723

7.8%

707

7.2%

Other Income

$9,711

$10.64

97.2%

$9,185

$9.89

99.3%

$9,523

$10.76

97.7%

Total Income

Expenses Salaries and Personnel

$1,104

$1.21

11.0%

$1,084

$1.17

11.7%

$1,086

$1.23

11.1%

Administrative

700

0.77 0.10 0.55 1.01

7.0% 0.9% 5.0% 9.2%

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%

Marketing

89

80

77

Management Fees

499 924

466 885

490 892

Utilities

All Repair, Maintenance and Contract Services

1,591

1.74

15.9%

1,467

1.58

15.9%

1,637

1.85

16.8%

Insurance

364 756 286

0.40 0.83 0.31

3.6% 7.6% 2.9%

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%

Real Estate Taxes

Other Taxes

Total Expenses

$6,313

$6.91

63.2%

$5,993

$6.45

64.9%

$6,034

$6.82

61.9%

Net Operating Income Before Debt Service and Depreciation

$3,398

$3.73

34.0%

$3,192

$3.44

34.4%

$3,489

$3.94

35.8%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2019

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