RubinBrown Apartment Stats 2024

GOVERNMENT ASSISTED BY PROJECT SIZE

0-50 Units

51-100 Units

101-150 Units

151-200 Units

Over 200 Units

Total Number of Projects

68

100

85

26

25

Average Project Age In Years Average Number of Units

14.50

16.27

17.55

14.80

13.68

36

78

121

174

288

Averages Per Unit: Monthly Rent

$1,160

$1,193

$1,185

$1,067

$870

Square Feet

1,014

883

878

849

975

Rooms

4.99

4.18

4.11

4.22

4.69

Economic Occupancy

92.5%

92.7%

91.0%

91.9%

92.7%

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

24.0%

27.0%

26.5%

24.6%

28.7%

A

B

A

B

A

B

A

B

A

B

Revenues Gross Potential Rent Less: Vacancy Loss

$13,919 $13.73

$14,605 $16.54 (1,061) (1.20) (409) (0.46) (290) (0.33)

$14,384

$16.38 (1.47) (0.62) (0.53)

$13,764

$16.21

$10,976 $11.26 (800) (0.82) (306) (0.31)

(1,048)

(1.03)

(1,289)

(1,114)

(1.31)

Collection Loss

(423) (0.42) (303) (0.30)

(544) (463)

(547) (0.64) (615) (0.72)

Concession Loss

(83) (0.08)

Rent Collected

12,146

11.98

12,845

14.54

12,087

13.78

11,487

13.53

9,787

10.04

Other Income

1,210

1.19

419

0.47

597

0.68

812

0.96

590

0.61

Total Income

$13,356 $13.17

$13,264 $15.01

$12,684 $14.45

$12,299 $14.49

$10,377 $10.65

Expenses Salaries and Personnel

$1,685

$1.66

$1,522

$1.72

$1,283

$1.46

$1,590

$1.87

$1,212

$1.24

Administrative

1,048

1.03 0.06 0.73 1.19 0.11 0.15 0.34 0.15 0.06 0.07 0.05 1.82 1.36 0.85 0.39

1,028

1.16 0.09 0.71 1.49 0.15 0.10 0.21 0.22 0.08 0.10 0.09 1.80 1.15 0.69 1.18

911

1.04 0.07 0.73 1.53 0.19 0.10 0.23 0.12 0.09 0.10 0.06 1.84 1.07 0.74 1.25

1,012

1.19 0.06 0.70 1.78 0.20 0.12 0.20 0.13 0.11 0.13 0.03 1.97 1.28 0.70 0.45

589

0.60 0.05 0.54 1.01 0.09 0.06 0.12 0.10 0.03 0.04 0.03 1.73 0.83 0.83 0.29

Marketing

60

79

63

50

46

Management Fees

738

627

639

598

524 981

Utilities

1,205

1,316

1,345

1,511

Carpeting

113 150 341 156

133

169

167 105 167 109

86 61

Painting

93

84

Landscaping

185 194

203 103

119

HVAC

93 33 44 27

Appliances

57 73 49

74 89 81

78 89 54

93

Plumbing Electrical

112

22

Other Repairs and Services

1,841 1,378

1,588 1,020

1,616

1,676 1,087

1,683

Insurance

937 654

806 811 281

Real Estate Taxes

858 396

612

598 379

Other Taxes

1,042

1,094

Total Expenses

$10,149 $10.01

$9,682 $10.95

$9,321 $10.60

$9,275 $10.91

$7,396

$7.58

Net Operating Income Before Debt Service and Depreciation

$3,207

$3.16

$3,582

$4.06

$3,363

$3.85

$3,024

$3.58

$2,981

$3.07

Capital Expenditures

$1,206

$1.19

$437

$0.43

$978

$0.96

$1,107

$1.09

$701

$0.69

A = Dollars per unit, per year

B = Dollars per square foot, per year

RubinBrown Apartment Stats 2024

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