RubinBrown Apartment Stats 2023

GOVERNMENT ASSISTED

2022

2021

2020

Total Number of Projects

1102

939

902

Average Number of Units

107

106

109

Averages Per Unit: Monthly Rent

$1,155

$1,077

$978

Square Feet

901

905

907

Rooms

4.45

4.43

4.48

Economic Occupancy

92.4%

93.0%

92.8%

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

37.0%

40.9%

41.8%

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$13,860

$15.38 (1.16) (0.32) (0.18)

100.0%

$12,925

$14.28 (1.00) (0.28) (0.30)

100.0%

$11,740

$12.94 (0.93) (0.18) (0.07)

100.0%

(1,048)

-7.6% -2.1% -1.2% 89.2%

(909) (250) (272)

-7.0% -1.9% -2.1% 89.0%

(844) (164)

-7.2% -1.4% -0.5% 90.9%

Collection Loss

(292) (161)

Concession Loss

(62)

Rent Collected

12,359

13.72

11,494

12.70

10,670

11.76

Other Income

803

0.89

5.8%

1,101

1.22

8.5%

450

0.50

3.8%

Total Income

$13,162

$14.61

95.0%

$12,595

$13.92

97.5%

$11,120

$12.26

94.7%

Expenses Salaries and Personnel

$1,382

$1.53

10.0%

$1,243

$1.37

9.6% 6.8% 0.7% 4.7% 7.7%

$1,178

$1.30

10.0%

Administrative

1,191

1.32 0.12 0.66 1.30

8.6% 0.8% 4.3% 8.5%

873

0.96 0.10 0.67 1.10

789

0.87 0.09 0.59 1.03

6.7% 0.7% 4.6% 8.0%

Marketing

112 596

92

77

Management Fees

602 994

539 937

Utilities

1,173

All Repair, Maintenance and Contract Services

2,034

2.26

14.7%

1,899

2.10

14.7%

1,441

1.59

12.3%

Insurance

598 895 314

0.66 0.99 0.35

4.3% 6.5% 2.3%

540 834 364

0.60 0.92 0.40

4.2% 6.5% 2.8%

426 753 328

0.47 0.83 0.36

3.6% 6.4% 2.8%

Real Estate Taxes

Other Taxes

Total Expenses

$8,295

$9.21

59.8%

$7,441

$8.22

57.7%

$6,468

$7.13

55.1%

Net Operating Income Before Debt Service and Depreciation

$4,867

$5.40

35.1%

$5,154

$5.70

39.8%

$4,652

$5.13

39.6%

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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