RubinBrown Apartment Stats 2025

COMPARISON OF OPERATIONS

GOVERNMENT ASSISTED

MARKET RATE

Total Number of Projects

940

6

Average Project Age in Years Average Number of Units

11.88

9.00

106

164

Averages Per Unit: Monthly Rent

$1,437

$1,385

Square Feet

888

1,087

Rooms

4.36

4.19

Economic Occupancy

90.7%

94.2%

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

37.2%

38.9%

A

B

C

A

B

C

REVENUES Gross Potential Rent Less: Vacancy Loss

$17,654

$19.87 (1.85) (0.48) (0.22)

100.0%

$16,614

$15.28 (0.89) (0.30) (0.52)

100.0%

(1,639)

-9.3% -2.4% -1.1% 87.2%

(971) (327) (561)

-5.8% -2.0% -3.4% 88.8%

Collection Loss

(425) (197)

Concession Loss

Rent Collected Other Income Total Income

15,393

17.33

14,755

13.57

666

0.75

3.8%

623

0.57

3.8%

$16,058

$18.07

91.0%

$15,378

$14.14

92.6%

EXPENSES Salaries and Personnel

$1,695

$1.91

9.6% 7.4% 0.7% 4.2% 7.6% 0.4% 0.5% 0.9% 0.6% 0.3% 0.4% 0.2% 9.8% 6.1% 5.9% 2.5%

$1,866

$1.72

11.2%

Administrative

1,301

1.46 0.14 0.84 1.52 0.07 0.11 0.18 0.12 0.05 0.08 0.04 1.94 1.22 1.17 0.50

435 275 561 468 342 190 147

0.40 0.25 0.52 1.24 0.43 0.31 0.17 0.14 0.03 0.09 0.02 1.48 0.80 0.89 0.15

2.6% 1.7% 3.4% 8.1% 2.8% 2.1% 1.1% 0.9% 0.2% 0.6% 0.1% 9.7% 5.2% 5.8% 1.0%

Marketing

123 744

Management Fees

Utilities

1,347

1,351

Carpeting

66 96

Painting

Landscaping

159 108

HVAC

Appliances

46 73 39

28 98 24

Plumbing Electrical

Other Repairs and Services

1,722 1,083 1,038

1,609

Insurance

870 962 164

Real Estate Taxes

448

Other Taxes

Total Expenses

$10,088

$11.35

57.1%

$9,390

$8.64

56.5%

Net Operating Income Before Debt Service and Depreciation

$5,971

$6.72

33.8%

$5,988

$5.51

36.0%

Capital Expenditures

$1,489

$1.68

8.4%

$2,381

$2.19

14.3%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

3