Jan 10, 2014
ALN Lubbock apartments Dec. 2013
LUBBOCK - ALN Apartment Data released December 2013 apartment occupancy, effective rent and more data for apartments in the Lubbock market. *Stabilized market is everything in a market except for apartments...
LUBBOCK – ALN Apartment Data released December 2013 apartment occupancy, effective rent and more data for apartments in the Lubbock market.
| Lubbock Market | Stabilized Market* | |
| Dec. 2013 | Annual Change | |
| Occupancy rate | 92.0 | 1.1% |
| Units added | 224 | – |
| Units absorbed (annual) | 358 | – |
| Average size (SF) | 842 | -0.1% |
| Asking rent | $683 | 1.7% |
| Effective rent | $678 | 3.0% |
| Effective rent per SF | $0.80 | 3.2% |
| Offering concessions | 19% | -38.5% |
| Avg. concession package | 4.0% | -53.0% |
*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 | $464 | $463 |
| 1 BR | 39.3% | 663 | $622 | $617 |
| 1 DEN | 0.0% | 755 | $600 | $600 |
| 2 BR | 37.9% | 955 | $794 | $790 |
| 3 BR | 12.7% | 1,249 | $1,090 | $1,088 |
| >3 BR | 6.9% | 1,526 | $1,874 | $1,873 |
Read more at ALN Market News. Be sure to check out Lubbock Market Data Sources. Is there data missing? If you have it, please contact the Real Estate Center at [email protected]
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