RubinBrown Apartment Stats 2025

MARKET RATE

2024

2023

2022

Total Number of Projects Average Number of Units

6

6

11

164

164

164

Averages Per Unit: Monthly Rent

$1,385

$1,298

$1,206

Square Feet

1,087

1,087

1,087

Rooms

4.19

4.19

4.19

Economic Occupancy

94.2%

95.0%

96.8%

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

38.9%

38.3%

43.7%

A

B

C

A

B

C

A

B

C

REVENUES Gross Potential Rent Less: Vacancy Loss

$16,614

$15.28 (0.89) (0.30) (0.52)

100.0%

$15,574

$14.33 (0.72) (0.31) (0.57)

100.0%

$14,469

$13.31 (0.43) (0.20) (0.98)

100.0%

(971) (327) (561)

-5.8% -2.0% -3.4% 88.8%

(783) (339) (620)

-5.0% -2.2% -4.0% 88.8%

(465) (214)

-3.2% -1.5% -7.3% 88.0%

Collection Loss

(1,060)

Concession Loss

Rent Collected

14,755

13.57

13,832

12.72

12,730

11.71

623

0.57

3.8%

1,422

1.31

9.1%

1,340

1.23

9.3%

Other Income

$15,378

$14.14

92.6%

$15,254

$14.03

97.9%

$14,070

$12.94

97.2%

Total Income

EXPENSES Salaries and Personnel

$1,866

$1.72

11.2%

$1,780

$1.64

11.4%

$1,384

$1.27

9.6% 3.2% 1.7% 4.0% 7.3%

Administrative

435 275 561

0.40 0.25 0.52 1.24

2.6% 1.7% 3.4% 8.1%

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

Marketing

Management Fees

Utilities

1,351

1,259

1,052

All Repairs and Maintenance and Contract Services

2,906

2.67

17.5%

2,405

2.21

15.4%

2,455

2.26

17.0%

Insurance

870 962 164

0.80 0.89 0.15

5.2% 5.8% 1.0%

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%

Real Estate Taxes

1,050

120

Other Taxes

Total Expenses

$9,390

$8.64

56.5%

$9,414

$8.66

60.4%

$7,923

$7.29

54.8%

Net Operating Income Before Debt Service and Depreciation

$5,988

$5.51

36.0%

$5,840

$5.37

37.5%

$6,147

$5.65

42.4%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

2025 APARTMENT STATS | 14