RubinBrown Apartment Stats 2025

GOVERNMENT ASSISTED BY REGION BY REGION

NORTH

EAST/NORTHEAST

MIDWEST

SOUTH/SOUTHEAST

Total Number of Projects

26

98

556

134

Average Project Age In Years Average Number of Units

11.96

13.14

12.01

9.93

114

115

102

118

Averages Per Unit: Monthly Rent

$1,468

$1,566

$1,381

$1,356

Square Feet

925

959

819

1,017

Rooms

3.68

4.50

4.36

4.99

Economic Occupancy

89.1%

92.2%

92.4%

88.0%

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

42.5%

39.1%

37.5%

35.5%

A B

C

A B

C

A B

C

A B

C

REVENUES Gross Potential Rent Less: Vacancy Loss

$17,612 $19.04 100.0% $18,797 $19.59 100.0% $17,193 $20.99 100.0% $16,272 $16.00 100.0%

(1,917) (2.07)-10.9%

(1,460) (1.52) (428) (0.45) (545) (0.57)

-7.8% -2.3% -2.9% 87.1%

(1,302) (1.59) (354) (0.43) (127) (0.15)

-7.6% -2.1% -0.7% 89.6%

(1,950) (1.92)-12.0%

Collection Loss

(356) (0.39) (131) (0.14)

-2.0% -0.7% 86.4%

(575) (0.57) (139) (0.14)

-3.5% -0.9% 83.6%

Concession Loss

Rent Collected

15,208

16.44

16,364

17.06

15,411

18.81

13,609

13.38

956

1.03

5.4%

589

0.61

3.1%

601

0.73

3.5%

750

0.74

4.6%

Other Income

$16,164 $17.47

91.8% $16,953 $17.67

90.2% $16,012 $19.55

93.1% $14,358

$14.11

88.2%

Total Income

EXPENSES Salaries and Personnel

$1,330

$1.44

7.6% 6.4% 0.4% 3.7% 8.8% 0.3% 0.4% 1.1% 0.4% 0.2% 0.4% 0.1% 9.3% 5.2% 6.6% 1.9%

$1,677

$1.75

8.9% 8.4% 0.4% 3.7% 8.4% 0.4% 0.4% 0.7% 0.6% 0.2% 0.4% 0.3% 9.9% 4.8% 5.4% 2.0%

$1,665

$2.03

9.7% 7.2% 0.8% 4.4% 7.3% 0.4% 0.6% 0.8% 0.6% 0.2% 0.4% 0.2% 9.9% 5.6% 7.3% 2.7%

$1,793

$1.76

11.0% 6.7% 0.7% 4.3% 7.6% 0.5% 0.7% 1.3% 0.7% 0.4% 0.4% 0.2% 7.8% 2.5% 1.9% 10.2% 56.9%

Administrative

1,122

1.21 0.07 0.70 1.68 0.05 0.08 0.21 0.07 0.03 0.08 0.03 1.77 0.99 1.26 0.36

1,577

1.64 0.08 0.72 1.64 0.08 0.08 0.13 0.12 0.04 0.09 0.06 1.93 0.94 1.06 0.39

1,245

1.52 0.17 0.93 1.53 0.08 0.13 0.17 0.13 0.05 0.08 0.04 2.08 1.18 1.54 0.56

1,091

1.07 0.11 0.69 1.22 0.07 0.11 0.20 0.11 0.06 0.07 0.03 1.62 1.25 0.40 0.31

Marketing

68

76

138 758

116 703

Management Fees

646

691

Utilities

1,559

1,573

1,254

1,237

Carpeting

50 75

76 75

67

76

Painting

103 140 108

114 206 115

Landscaping

196

129 113

HVAC

69 28 75 26

Appliances

40 84 57

40 68 31

63 68 35

Plumbing Electrical

Other Repairs and Services

1,641

1,855

1,703

1,652 1,269

Insurance

912

904

968

Real Estate Taxes

1,169

1,015

1,258

406 316

329

376

456

Other Taxes

Total Expenses

52.8%

$10,317 $10.75

54.9%

$10,003 $12.21

58.2%

$9,296

$10.05

$9,261

$9.10

Net Operating Income Before Debt Service & Depreciation

$6,869

$7.41

39.0%

$6,635

$6.92

35.3%

$6,009

$7.34

35.0%

$5,097

$5.01

31.3%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

2025 APARTMENT STATS | 8