RubinBrown Apartment Stats 2020

LOW INCOME TAX CREDIT PROJECTS

2019

2018

2017

Total Number of Projects Average Number of Units

666

595

597

107

109

107

Averages Per Unit: Monthly Rent

858 908 4.49

$833

$771

Square Feet

913

929

Rooms

4.47

4.48

Economic Occupancy

92.2%

92.7%

93.2%

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

38.6$

35.0%

34.8%

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$10,483

$11.55 (0.90) (0.14) (0.07)

100.0%

$9,996

$10.95 (0.80) (0.15) (0.08)

100.0%

$9,253

$9.96

100.0%

(819) (125)

-7.8% -1.2% -0.6% 90.4%

(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%

Collection Loss

(62)

(74)

(41)

Concession Loss

Rent Collected

9,477

10.44

9,056

9.92 0.72

8,462

9.11 0.78

593

0.65

5.7%

655

6.6%

723

7.8%

Other Income

$10,070

$11.09

96.1%

$9,711

$10.64

97.2%

$9,185

$9.89

99.3%

Total Income

Expenses Salaries and Personnel

$1,148

$1.26

11.0%

$1,104

$1.21

11.0%

$1,084

$1.17

11.7%

Administrative

622

0.69 0.08 0.54 1.02

5.9% 0.7% 4.7% 8.8%

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%

Marketing

72

89

80

Management Fees

493 921

499 924

466 885

Utilities

All Repair, Maintenance and Contract Services

1,563

1.72

14.9%

1,591

1.74

15.9%

1,467

1.58

15.9%

Insurance

411 630 322

0.45 0.69 0.35

3.9% 6.0% 3.1%

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%

Real Estate Taxes

Other Taxes

Total Expenses

$6,182

$6.80

59.0%

$6,313

$6.91

63.2%

$5,993

$6.45

64.9%

Net Operating Income Before Debt Service and Depreciation

$3,888

$4.29

37.1%

$3,398

$3.73

34.0%

$3,192

$3.44

34.4%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2020

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