RubinBrown Apartment Stats 2024

MARKET RATE

2023

2022

2021

Total Number of Projects Average Number of Units

6

11

12

164

164

164

Averages Per Unit: Monthly Rent

$1,298

$1,206

$1,191

Square Feet

1,087

1,087

1,087

Rooms

4.19

4.19

4.19

Economic Occupancy

95.0%

96.8%

96.5%

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

38.3%

43.7%

46.8%

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$15,574

$14.33 (0.72) (0.31) (0.57)

100.0%

$14,469

$13.31 (0.43) (0.20) (0.98)

100.0%

$14,292

$13.15 (0.46) (0.12) (0.88)

100.0%

(783) (339) (620)

-5.0% -2.2% -4.0% 88.8%

(465) (214)

-3.2% -1.5% -7.3% 88.0%

(501) (130) (958)

-3.5% -0.9% -6.7% 88.9%

Collection Loss

(1,060)

Concession Loss

Rent Collected

13,832

12.72

12,730

11.71

12,703

11.69

1,422

1.31

9.1%

1,340

1.23

9.3%

1,307

1.20

9.1%

Other Income

$15,254

$14.03

97.9%

$14,070

$12.94

97.2%

$14,010

$12.89

98.0%

Total Income

Expenses Salaries and Personnel

$1,780

$1.64

11.4%

$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%

Administrative

788 321 940

0.72 0.30 0.87 1.16

5.1% 2.1% 6.0% 8.1%

468 245 573

0.43 0.23 0.53 0.97

445 183 568

0.41 0.17 0.52 1.01

Marketing

Management Fees

Utilities

1,259

1,052

1,103

All Repairs and Maintenance and Contract Services

2,405

2.21

15.4%

2,455

2.26

17.0%

2,033

1.87

14.2%

Insurance

441 722 757

0.41 0.66 0.70

2.8% 4.6% 4.9%

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%

Real Estate Taxes

1,050

1,142

120

161

Other Taxes

Total Expenses

$9,414

$8.66

60.4%

$7,923

$7.29

54.8%

$7,459

$6.86

52.1%

Net Operating Income Before Debt Service and Depreciation

$5,840

$5.37

37.5%

$6,147

$5.65

42.4%

$6,551

$6.03

45.9%

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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