RubinBrown Apartment Stats 2025

GOVERNMENT ASSISTED

2024

2023

2022

Total Number of Projects Average Number of Units

940

1024

1102

106

105

107

Averages Per Unit: Monthly Rent

$1,437

$1,294

$1,155

Square Feet

888

875

901

Rooms

4.36

4.36

4.45

Economic Occupancy

90.7%

92.0%

92.4%

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

37.2%

37.5%

37.0%

A

B

C

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%

$15,886

$18.16 (1.45) (0.46) (0.26)

100.0%

$13,860

$15.38 (1.16) (0.32) (0.18)

100.0%

(1,639)

-9.3% -2.4% -1.1% 87.2%

(1,272)

-8.0% -2.6% -1.4% 88.0%

(1,048)

-7.6% -2.1% -1.2% 89.2%

Collection Loss

(425) (197)

(406) (224)

(292) (161)

Concession Loss

Rent Collected

15,393

17.33

13,983

15.99

12,359

13.72

Other Income

666

0.75

3.8%

786

0.90

5.0%

803

0.89

5.8%

Total Income

$16,058

$18.07

91.0%

$14,770

$16.89

93.0%

$13,162

$14.61

95.0%

EXPENSES Salaries and Personnel

$1,695

$1.91

9.6% 7.4% 0.7% 4.2% 7.6%

$1,605

$1.84

10.1%

$1,382

$1.53

10.0%

Administrative

1,301

1.46 0.14 0.84 1.52

1,128

1.29 0.13 0.76 1.46

7.1% 0.7% 4.2% 8.0%

1,191

1.32 0.12 0.66 1.30

8.6% 0.8% 4.3% 8.5%

Marketing

123 744

112 661

112 596

Management Fees

Utilities

1,347

1,277

1,173

All Repair, Maintenance and Contract Services

2,309

2.60

13.0%

2,181

2.49

13.9%

2,034

2.26

14.7%

Insurance

1,083 1,038

1.22 1.17 0.50

6.1% 5.9% 2.5%

805 772 689

0.92 0.88 0.79

5.1% 4.9% 4.3%

598 895 314

0.66 0.99 0.35

4.3% 6.5% 2.3%

Real Estate Taxes

Other Taxes

448

Total Expenses

$10,088

$11.35

57.1%

$9,229

$10.55

58.3%

$8,295

$9.21

59.8%

Net Operating Income Before Debt Service and Depreciation

$5,971

$ 6.72

33.8%

$5,541

$6.34

34.7%

$4,867

$5.40

35.1%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

2025 APARTMENT STATS | 4