Feb 11, 2014
ALN Lubbock apartments Jan. 2014
LUBBOCK - ALN Apartment Data released January 2014 apartment occupancy, effective rent and more data for apartments in the Lubbock market. *Stabilized market is everything in a market except for...
LUBBOCK – ALN Apartment Data released January 2014 apartment occupancy, effective rent and more data for apartments in the Lubbock market.
| Lubbock Market | Stabilized Market* | |
| Jan. 2014 | Annual Chg. | |
| Occupancy rate | 91.4 | 0.5% |
| Units added | 162 | – |
| Units absorbed (annual) | 216 | – |
| Average size (SF) | 842 | -0.1% |
| Asking rent | $685 | 1.7% |
| Effective rent | $678 | 2.4% |
| Effective rent per SF | $0.80 | 2.6% |
| Offering concessions | 22% | -19.9% |
| Avg. concession package | 4.3% | -31.0% |
*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 | $624 | $615 |
| 1 DEN | 0.0% | 755 | $600 | $600 |
| 2 BR | 37.9% | 955 | $795 | $787 |
| 3 BR | 12.7% | 1,249 | $1,085 | $1,080 |
| >3 BR | 6.9% | 1,526 | $1,855 | $1,854 |
Read more at ALN Market News, and be sure to check out Lubbock Market Data Sources.
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