RubinBrown Apartment Stats 2024

COMPARISON OF OPERATIONS

Government Assisted

Market Rate

Total Number of Projects

1024

6

Average Project Age in Years Average Number of Units

11.47

8.00

105

164

Averages Per Unit: Monthly Rent

$1,294

$1,298

Square Feet

875

1,087

Rooms

4.36

4.19

Economic Occupancy

92.0%

95.0%

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

37.5%

38.3%

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$15,886

$18.16 (1.45) (0.46) (0.26)

100.0%

$15,574

$14.33 (0.72) (0.31) (0.57)

100.0%

(1,272)

-8.0% -2.6% -1.4% 88.0%

(783) (339) (620)

-5.0% -2.2% -4.0% 88.8%

Collection Loss

(406) (224)

Concession Loss

Rent Collected Other Income Total Income

13,983

15.99

13,832

12.72

786

0.90

5.0%

1,422

1.31

9.1%

$14,770

$16.89

93.0%

$15,254

$ 14.03

97.9%

Expenses Salaries and Personnel

$1,605

$1.84

10.1% 7.1% 0.7% 4.2% 8.0% 0.5% 0.5% 1.0% 0.7% 0.3% 0.4% 0.2% 5.1% 4.9% 4.3% 10.1% 58.3%

$1,780

$1.64

11.4%

Administrative

1,128

1.29 0.13 0.76 1.46 0.08 0.10 0.18 0.13 0.05 0.08 0.04 1.84 0.92 0.88 0.79

788 321 940 346 340 235 145

0.72 0.30 0.87 1.16 0.32 0.31 0.22 0.13 0.08 0.09 0.14 0.92 0.41 0.66 0.70

5.1% 2.1% 6.0% 8.1% 2.2% 2.2% 1.5% 0.9% 0.5% 0.6% 1.0% 6.4% 2.8% 4.6% 4.9%

Marketing

112 661

Management Fees

Utilities

1,277

1,259

Carpeting

73 84

Painting

Landscaping

157 110

HVAC

Appliances

48 67 36

84

Plumbing Electrical

100 150

Other Repairs and Services

1,605

1,004

Insurance

805 772 689

441 722 757

Real Estate Taxes

Other Taxes

Total Expenses

$9,229

$10.55

$9,414

$8.66

60.4%

Net Operating Income Before Debt Service and Depreciation

$5,541

$6.34

34.7%

$5,840

$5.37

37.5%

Capital Expenditures

$870

$0.99

5.5%

$413

$0.38

2.7%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

Comparison of Operations

3