RubinBrown Apartment Stats 2021

GOVERNMENT ASSISTED

2020

2019

2018

Total Number of Projects

902

787

736

Average Number of Units

109

108

107

Averages Per Unit: Monthly Rent

$978

$865

$834

Square Feet

907

910

908

Rooms

4.48

4.47

4.48

Economic Occupancy

92.8%

92.1%

92.0%

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

41.8%

38.8%

34.9%

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

11,740

12.94

100.0%

10,354

11.38

100.0%

$10,010

$11.02 (0.88) (0.15) (0.07)

100.0%

(844) (164)

(0.93) (0.18) (0.07)

-7.2% -1.4% -0.5% 90.9%

(822) (126)

(0.90) (0.14) (0.06)

-7.9% -1.2% -0.5% 90.4%

(801) (137)

-8.0% -1.4% -0.7% 89.9%

Collection Loss

Concession Loss

(62)

(55)

(68)

Rent Collected

10,670

11.76

9,351

10.28

9,004

9.92 0.73

Other Income

450

0.50

3.8%

611

0.67

5.9%

667

6.7%

Total Income

$11,120

$12.26

94.7%

$9,962

$10.95

96.3%

$9,671

$10.65

96.6%

Expenses Salaries and Personnel

1,178

1.30 0.87 0.09 0.59 1.03

10.0%

$1,143

$1.26

11.0%

$1,117

$1.23

11.2%

Administrative

789

6.7% 0.7% 4.6% 8.0%

624

0.69 0.07 0.54 1.01

6.0% 0.6% 4.7% 8.8%

735

0.81 0.09 0.54 1.02

7.3% 0.8% 4.9% 9.3%

Marketing

77

66

82

Management Fees

539 937

487 915

494 928

Utilities

All Repair, Maintenance and Contract Services

1,441

1.59

12.3%

1,545

1.70

14.9%

1,595

1.75

15.9%

Insurance

426 753 328

0.47 0.83 0.36

3.6% 6.4% 2.8%

403 599 313

0.44 0.66 0.34

3.9% 5.8% 3.0%

360 703 283

0.40 0.77 0.31

3.6% 7.0% 2.8%

Real Estate Taxes

Other Taxes

Total Expenses

$6,468

$7.13

55.1%

$6,095

$6.70

58.7%

$6,297

$6.93

62.9%

Net Operating Income Before Debt Service and Depreciation

$4,652

$5.13

39.6%

$3,867

$4.25

37.6%

$3,374

$3.72

33.7%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2021

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