RubinBrown Apartment Stats 2012

Government Assisted by Project Size

0-50 Units

51-100 Units

101-150 Units

151-200 Units

Over 200 Units

Total Number of Projects

91

115

95

35

36

Average Project Age In Years

9.5

9.5

11.0

12.6

10.9

Average Number of Units

30

77

122

175

271

Averages Per Unit:

Monthly Rent

$709

$749

$762

$699

$664

Square Feet

1,034

897

917

953

974

Rooms

4.82

4.05

4.34

4.05

4.33

Economic Occupancy

88.4%

91.3%

91.2%

88.1%

82.6%

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

29.8%

33.2%

38.3%

37.3%

37.9%

A

B

A

B

A

B

A

B

A

B

Revenues

Gross Potential Rent

$8,505

$8.23

$8,992 $10.02

$9,144

$9.97

$8,388

$8.80

$7,974

$8.19

Less: Vacancy Loss

(768) (0.74)

(612) (0.68)

(626) (0.68)

(766) (0.80)

(821) (0.84)

Collection Loss

(145) (0.14)

(101) (0.11)

(124) (0.13)

(134) (0.14)

(156) (0.16)

Concession Loss

(70) (0.07)

(69) (0.08)

(59) (0.06)

(100) (0.11)

(120) (0.12)

Rent Collected

7,522

7.28

8,210

9.15

8,335

9.10

7,388

7.75

6,877

7.07

Other Income

652

0.63

360

0.40

566

0.62

328

0.34

490

0.50

Total Income

$8,174

$7.91

$8,570

$9.55

$8,901

$9.72

$7,716

$8.09

$7,367

$7.57

Expenses

Salaries and Personnel

$1,051

$1.02

$996

$1.11

$912

$1.00

$817

$0.86

$777

$0.80

Administrative

683

0.66

582

0.65

501

0.55

353

0.37

283

0.29

Marketing

81

0.08

132

0.15

101

0.11

91

0.10

87

0.09

Management Fees

475

0.46

477

0.53

494

0.54

395

0.41

378

0.39

Utilities

801

0.77

884

0.98

906

0.99

790

0.83

730

0.75

Contract Services

884

0.85

1,002

1.12

1,006

1.10

1,035

1.09

836

0.86

Repair and Maintenance

692

0.67

595

0.66

579

0.63

518

0.54

322

0.33

Insurance

491

0.48

419

0.47

348

0.38

258

0.27

308

0.32

Real Estate Taxes

452

0.44

513

0.57

532

0.58

482

0.51

529

0.54

Other Taxes

129

0.12

128

0.14

117

0.13

99

0.10

87

0.09

Total Expenses

$5,739

$5.55

$5,728

$6.38

$5,496

$6.01

$4,838

$5.08

$4,337

$4.46

Net Operating Income Before Debt Service and Depreciation $2,435

$2.36

$2,842

$3.17

$3,405

$3.71

$2,878

$3.01

$3,030

$3.11

Capital Expenditures

$302

$0.29

$224

$0.25

$185

$0.20

$269

$0.28

$209

$0.21

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

10 | RubinBrown Apartment Stats 2012