RubinBrown Apartment Stats 2023

GOVERNMENT ASSISTED BY REGION

North

East/Northeast

Midwest

South/Southeast

Total Number of Projects

39

127

635

174

Average Project Age In Years Average Number of Units

14.56

11.32

9.90

8.15

113

122

103

102

Averages Per Unit: Monthly Rent

$1,159

$1,110

$1,011

$1,163

Square Feet

939

978

839

958

Rooms

4.36

4.95

4.25

5.21

Economic Occupancy

91.5%

91.6%

92.1%

92.3%

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

37.9%

38.8%

33.1%

40.3%

A

B

C

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$13,910 $14.82 100.0% $13,319 $13.62 100.0% $12,137 $14.47 100.0% $13,959 $14.56 100.0%

(1,179) (1.26) (304) (0.32) (42) (0.05)

-8.5% -2.2% -0.3% 89.0%

(1,113) (1.14) (253) (0.26) (77) (0.08)

-8.4% -1.9% -0.6% 89.2%

(956) (1.14) (248) (0.30) (75) (0.09)

-7.9% -2.0% -0.6% 89.5%

(1,075) (1.12) (444) (0.46) (230) (0.24)

-7.7% -3.2% -1.6% 87.5%

Collection Loss

Concession Loss

Rent Collected

12,385

13.19

11,877

12.14

10,858

12.94

12,210

12.74

1,043

1.11

7.5%

623

0.64

4.7%

738

0.88

6.1%

953

0.99

6.8%

Other Income

95.5%

$13.73

94.3%

$13,428 $14.30

96.5% $12,500 $12.78

93.8%

$11,596

$13.82

$13,163

Total Income

Expenses Salaries and Personnel

$1,190

$1.27

8.6% 6.2% 1.0% 4.9% 8.8% 0.8% 0.6% 0.9% 0.6% 0.2% 0.3% 0.3% 4.2% 8.8% 2.6%

$1,070

$1.09

8.0% 9.7% 0.4% 3.9% 8.8% 0.8% 0.5% 0.8% 0.8% 0.3% 0.5% 0.3% 9.8% 4.1% 6.9% 2.0%

$1,315

$1.57

10.8% 9.3% 0.9% 4.5% 8.6% 0.4% 0.5% 0.8% 0.7% 0.3% 0.4% 0.2% 4.2% 7.6% 2.5% 12.1%

$1,462

$1.53

10.5%

Administrative

864 134 686

0.92 0.14 0.73 1.31 0.12 0.09 0.13 0.08 0.02 0.04 0.04 1.67 0.62 1.30 0.39

1,292

1.32 0.06 0.54 1.20 0.10 0.06 0.10 0.10 0.05 0.06 0.04 1.33 0.55 0.93 0.27

1,123

1.34 0.13 0.66 1.24 0.06 0.08 0.12 0.10 0.04 0.06 0.03 1.75 0.60 1.11 0.36

1,008

1.05 0.11 0.68 1.14 0.08 0.10 0.21 0.12 0.07 0.09 0.06 1.37 0.78 0.56 0.27

7.2% 0.7% 4.7% 7.8% 0.6% 0.7% 1.4% 0.9% 0.5% 0.6% 0.4% 9.4% 5.3% 3.8% 1.8%

Marketing

58

109 550

104 650

Management Fees

524

Utilities

1,228

1,174

1,043

1,093

Carpeting

117

102

50 66 97 85 33 50 26

78 92

Painting

84

62

Landscaping

120

102 101

200 120

HVAC

77 22 41 41

Appliances

45 60 37

68 84 59

Plumbing Electrical

Other Repairs and Services

1,569

11.3%

1,304

1,469

1,311

Insurance

586

541 914 260

504 927 305

743 534 257

Real Estate Taxes

1,221

363

Other Taxes

Total Expenses

$8,343

$8.89 60.0%

$7,646

$7.82 57.4%

$7,752

$9.24 63.9%

$7,863

$8.20 56.3%

Net Operating Income Before Debt Service & Depreciation

$5,085

$5.42 36.5%

$4,854

$4.96 36.4%

$3,844

$4.58 31.7%

$5,300

$5.53 38.0%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2023

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