RubinBrown Apartment Stats 2023

MARKET RATE

2022

2021

2020

Total Number of Projects Average Number of Units

11

12

10

164

164

164

Averages Per Unit: Monthly Rent

$1,206

$1,191

$1,102

Square Feet

1,087

1,087

1,087

Rooms

4.19

4.19

4.19

Economic Occupancy

96.8%

96.5%

98.6%

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

43.7%

46.8%

45.0%

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$14,469

$13.31 (0.43) (0.20) (0.98)

100.0%

$14,292

$13.15 (0.46) (0.12) (0.88)

100.0%

$13,227

$12.17 (0.17) (0.01) (0.03)

100.0%

(465) (214)

-3.2% -1.5% -7.3% 88.0%

(501) (130) (958)

-3.5% -0.9% -6.7% 88.9%

(188)

-1.4% -0.1% -0.3% 98.2%

Collection Loss

(15) (34)

(1,060)

Concession Loss

Rent Collected

12,730

11.71

12,703

11.69

12,990

11.96

1,340

1.23

9.3%

1,307

1.20

9.1%

205

0.19

1.6%

Other Income

$14,070

$12.94

97.2%

$14,010

$12.89

98.0%

$13,195

$12.15

99.8%

Total Income

Expenses Salaries and Personnel

$1,384

$1.27

9.6% 3.2% 1.7% 4.0% 7.3%

$1,346

$1.24

9.4% 3.1% 1.3% 4.0% 7.7%

$1,264

$1.16

9.6% 3.1% 2.1% 4.3% 8.1%

Administrative

468 245 573

0.43 0.23 0.53 0.97

445 183 568

0.41 0.17 0.52 1.01

407 271 570

0.37 0.25 0.52 0.98

Marketing

Management Fees

Utilities

1,052

1,103

1,065

All Repairs and Maintenance and Contract Services

2,455

2.26

17.0%

2,033

1.87

14.2%

1,866

1.72

14.1%

Insurance

577

0.53 0.97 0.11

4.0% 7.3% 0.8%

478

0.44 1.05 0.15

3.3% 8.0% 1.1%

434

0.40 1.12 0.14

3.3% 9.2% 1.2%

Real Estate Taxes

1,050

1,142

1,221

120

161

157

Other Taxes

Total Expenses

$7,923

$7.29

54.8%

$7,459

$6.86

52.1%

$7,254

$6.65

55.0%

Net Operating Income Before Debt Service and Depreciation

$6,147

$5.65

42.4%

$6,551

$6.03

45.9%

$5,941

$5.50

44.8%

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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