RubinBrown Apartment Stats 2012

Government Assisted

2011

2010

2009

Total Number of Projects

372

363

226

Average Number of Units

105

115

129

Averages Per Unit:

Monthly Rent

$721

$673

$662

Square Feet

964

940

926

Rooms

4.32

4.34

4.19

Economic Occupancy

89.4%

86.9%

86.9%

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

40.0%

37.8%

38.2%

A

B

C

A

B

C

A

B

C

Revenues

Gross Potential Rent

$8,653

$8.98

100.0%

$8,078

$8.59

100.0%

$7,948

$8.58

100.0%

Less: Vacancy Loss

(704)

(0.73)

-8.1%

(826)

(0.88)

-10.2%

(825)

(0.89)

-10.4%

Collection Loss

(130)

(0.13)

-1.5%

(128)

(0.14)

-1.6%

(133)

(0.14)

-1.7%

Concession Loss

(84)

(0.09)

-1.0%

(105)

(0.11)

-1.3%

(82)

(0.09)

-1.0%

Rent Collected

7,735

8.03

89.4%

7,019

7.46

86.9%

6,908

7.46

86.9%

Other Income

469

0.49

5.4%

410

0.44

5.1%

331

0.36

4.2%

Total Income

$8,204

$8.52

94.8%

$7,429

$7.90

92.0%

$7,239

$7.82

91.1%

Expenses

Salaries and Personnel

$892

$0.93

10.3%

$801

$0.85

9.9%

$781

$0.84

9.8%

Administrative

454

0.47

5.2%

422

0.45

5.2%

367

0.40

4.6%

Marketing

102

0.11

1.2%

96

0.10

1.2%

89

0.10

1.1%

Management Fees

444

0.46

5.1%

406

0.43

5.0%

390

0.42

4.9%

Utilities

831

0.86

9.6%

717

0.76

8.9%

726

0.78

9.1%

Contract Services

958

0.99

11.1%

711

0.76

8.8%

744

0.80

9.4%

Repair and Maintenance

517

0.54

6.0%

613

0.65

7.6%

509

0.55

6.4%

Insurance

350

0.36

4.0%

298

0.32

3.7%

283

0.31

3.6%

Real Estate Taxes

514

0.53

5.9%

461

0.49

5.7%

471

0.51

5.9%

Other Taxes

110

0.11

1.3%

95

0.10

1.2%

107

0.12

1.4%

Total Expenses

$5,172

$5.36

59.7%

$4,620

$4.91

57.2%

$4,467

$4.83

56.2%

Net Operating Income Before Debt Service and Depreciation

$3,032

$3.16

35.1%

$2,809

$2.99

34.8%

$2,772

$2.99

34.9%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

4 | RubinBrown Apartment Stats 2012