Mar 8, 2014
ALN Lubbock apartments Feb. 2014
LUBBOCK - ALN Apartment Data released February 2014 apartment occupancy, effective rent and more data for apartments. *Stabilized market is everything in a market except for apartments in initial lease-up. ...
LUBBOCK – ALN Apartment Data released February 2014 apartment occupancy, effective rent and more data for apartments.
| Lubbock Market | Stabilized Market* | |
| Feb. 2014 | Annual Chg. | |
| Occupancy rate | 91.2 | -0.2% |
| Units added | 342 | – |
| Units absorbed (annual) | 107 | – |
| Average size (SF) | 843 | -0.3% |
| Asking rent | $690 | 2.0% |
| Effective rent | $683 | 2.3% |
| Effective rent per SF | $0.81 | 2.8% |
| Offering concessions | 19% | -19.1% |
| Avg. concession package | 4.8% | -11.5% |
*Stabilized market is everything in a market except for apartments in initial lease-up.
| Plan Type | % of Market | Avg. SF | Avg. Market Rent/Mo. | Avg. Eff. Rent/Mo. |
| Efficiency | 3.1% | 392 | $465 | $464 |
| 1 BR | 39.3% | 663 | $623 | $616 |
| 1 DEN | 0.0% | 755 | $600 | $600 |
| 2 BR | 37.9% | 955 | $794 | $787 |
| 3 BR | 12.7% | 1,249 | $1,083 | $1,078 |
| >3 BR | 6.9% | 1,526 | $1,856 | $1,856 |
Read more at ALN Market News, and be sure to check out Lubbock Market Data Sources.
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