RubinBrown Apartment Stats 2024

GOVERNMENT ASSISTED BY REGION

North

East/Northeast

Midwest

South/Southeast

Total Number of Projects

25

107

623

160

Average Project Age In Years Average Number of Units

14.09

13.16

11.67

9.39

106

117

102

103

Averages Per Unit: Monthly Rent

$1,296

$1,375

$1,240

$1,364

Square Feet

869

938

810

1,025

Rooms

4.22

4.52

4.23

5.19

Economic Occupancy

91.7%

92.8%

92.1%

91.9%

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

28.5%

37.9%

38.6%

37.4%

A

B

C

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$15,627 $17.99 100.0% $16,808 $17.92 100.0%

$15,044

$18.57 100.0% $16,651

$16.24 100.0%

(1,297)

(1.49) (0.52)

-8.3% -2.9% -1.3% 87.6%

(1,211) (1.29) (423) (0.45) (658) (0.70)

-7.2% -2.5% -3.9% 86.4%

(1,190)

(1.47)

-7.9% -2.3% -1.0% 88.8%

(1,341)

(1.31)

-8.1% -3.4% -1.3% 87.2%

Collection Loss

(449)

(343) (0.42) (150) (0.19)

(571) (0.56) (215) (0.21)

(197) (0.23)

Concession Loss

Rent Collected

13,684

15.75

14,516

15.48

13,360

16.49

14,525

14.17

933

1.07

6.0%

724

0.77

4.3%

748

0.92

5.0%

827

0.81

5.0%

Other Income

$17.42 $93.8%

$14.98

92.2%

$14,617 $16.82

93.5% $15,240 $16.25

90.7%

$14,108

$15,352

Total Income

Expenses Salaries and Personnel

$1,519

$1.75

9.7% 5.5% 2.2% 4.7% 0.6% 0.7% 0.7% 0.6% 0.3% 0.6% 0.3% 5.6% 8.1% 3.2%

$1,305

$1.39

7.8% 9.2% 0.4% 3.9% 8.4% 0.8% 0.5% 0.9% 0.7% 0.5% 0.5% 0.4% 9.9% 4.5% 5.9% 2.0%

$1,553

$1.92

10.3% 6.7% 0.8% 4.0% 7.8% 0.4% 0.5% 0.9% 0.6% 0.2% 0.4% 0.2% 4.6% 5.2% 5.1% 10.0% 57.6%

$1,926

$1.88

11.6%

Administrative

866 336 734

1.00 0.39 0.85 1.80 0.11 0.12 0.13 0.11 0.06 0.11 0.05 2.53 1.01 1.46 0.57

1,540

1.64 0.07 0.71 1.51 0.15 0.08 0.15 0.13 0.09 0.08 0.07 1.78 0.81 1.06 0.37

1,011

1.25 0.14 0.74 1.44 0.07 0.09 0.16 0.12 0.04 0.07 0.03 1.86 0.85 0.96 0.96

1,198

1.17 0.11 0.78 1.21 0.08 0.11 0.24 0.14 0.06 0.07 0.04 1.52 1.00 0.52 0.44

7.2% 0.7% 4.8% 7.4% 0.5% 0.7% 1.4% 0.9% 0.4% 0.4% 0.2% 9.3% 6.2% 3.2% 2.7%

Marketing

69

114 600

110 797

Management Fees

662

Utilities

1,564

10.0%

1,412

1,168

1,239

Carpeting

98

136

53 73

83

Painting

103 117

78

115 241 147

Landscaping

144 123

128

HVAC

93 50 92 44

97 32 55 26

Appliances

83 76 63

63 72 39

Plumbing Electrical

Other Repairs and Services

2,197

14.1%

1,671

1,510

1,556 1,029

Insurance

880

763 994 344

690 780 774

Real Estate Taxes

1,272

538 455

495

Other Taxes

Total Expenses

$10,458 $12.04

66.9%

$9,465 $10.09

56.3%

$8,666 $10.70

$9,609

$9.37

57.7%

Net Operating Income Before Debt Service & Depreciation

$4,159

$4.78

26.6%

$5,775

$6.16

34.4%

$5,442

$6.72

36.2%

$5,743

$5.61

34.5%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2024

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