RubinBrown Apartment Stats 2023

GOVERNMENT ASSISTED BY PROJECT SIZE

0-50 Units

51-100 Units

101-150 Units

151-200 Units

Over 200 Units

Total Number of Projects

76

114

98

32

31

Average Project Age In Years Average Number of Units

12.67

15.03

16.97

15.56

15.35

36

77

121

175

270

Averages Per Unit: Monthly Rent

$874

$915

$978

$910

$918

Square Feet

987

883

897

919

969

Rooms

4.94

4.17

4.27

4.49

4.77

Economic Occupancy

93.4%

91.2%

89.8%

92.8%

93.4%

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

21.1%

20.8%

23.8%

25.0%

33.7%

A

B

A

B

A

B

A

B

A

B

Revenues Gross Potential Rent Less: Vacancy Loss

$10,544 $10.69 (697) (0.71) (243) (0.25) (136) (0.14)

$10,977 $12.43 (970) (1.10) (239) (0.27)

$11,735 $13.08 (1,194) (1.33)

$10,919 $11.88 (787) (0.86) (326) (0.35)

$11,012 $11.37 (730) (0.75) (303) (0.31)

Collection Loss

(339) (0.38)

(67) (0.08)

(54) (0.06)

(26) (0.03)

(31) (0.03)

Concession Loss

Rent Collected

9,468

9.59 0.69

9,701

10.99

10,149

11.32

9,780

10.64

9,948

10.27

Other Income

681

655

0.74

622

0.69

398

0.43

631

0.65

Total Income

$10,149 $10.28

$10,356 $11.73

$10,771 $12.01

$10,178 $11.07

$10,579 $10.92

Expenses Salaries and Personnel

$1,346

$1.36

$1,480

$1.68

$1,594

$1.78

$1,442

$1.57

$1,118

$1.15

Administrative

855

0.87 0.04 0.62 1.06 0.07 0.12 0.27 0.13 0.05 0.10 0.06 1.42 0.94 0.71 0.30

1,037

1.17 0.08 0.64 1.30 0.12 0.09 0.18 0.16 0.06 0.09 0.09 1.65 0.88 0.70 0.39

759

0.85 0.07 0.67 1.41 0.17 0.08 0.17 0.12 0.07 0.09 0.04 1.71 0.76 0.81 0.37

778

0.85 0.05 0.59 1.34 0.13 0.08 0.11 0.13 0.06 0.08 0.07 1.52 0.71 0.71 0.32

612

0.63 0.06 0.52 1.04 0.12 0.09 0.12 0.12 0.03 0.05 0.03 1.40 0.59 1.00 0.27

Marketing

39

67

58

42

54

Management Fees

616

566

597

538

508

Utilities

1,049

1,144

1,267

1,229

1,006

Carpeting

65

107

152

123

113

Painting

123 262 132

75

70

72

91

Landscaping

160 142

152 106

106 123

120 119

HVAC

Appliances

53 96 58

55 82 80

65 81 33

58 71 61

31 51 31

Plumbing Electrical

Other Repairs and Services

1,403

1,460

1,533

1,399

1,361

Insurance

924 699 294

779 620 345

678 731 336

650 651 291

568 969 261

Real Estate Taxes

Other Taxes

Total Expenses

$8,014

$8.12

$8,199

$9.29

$8,212

$9.13

$7,634

$8.29

$7,013

$7.23

Net Operating Income Before Debt Service and Depreciation

$2,135

$2.16

$2,157

$2.44

$2,559

$2.86

$2,544

$2.78

$3,566

$3.69

Capital Expenditures

$1,592

$1.61

$698

$0.71

$531

$0.54

$871

$0.88

$801

$0.81

A = Dollars per unit, per year

B = Dollars per square foot, per year

RubinBrown Apartment Stats 2023

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