Jun 17, 2013
Lubbock ALN apartment data May 2013
Lubbock - ALN Apartment Data has released the May 2013 apartment occupancy, effective rent data and more for apartments in the Lubbock market. *Stabilized market is everything in a market...
Lubbock – ALN Apartment Data has released the May 2013 apartment occupancy, effective rent data and more for apartments in the Lubbock market.
Lubbock Market | Stabilized Market* | |
May 2013 | Annual Change | |
Occupancy rate | 91.3 | -0.6% |
Units added | 171 | – |
Units absorbed (annual) | 81 | – |
Average size (SF) | 845 | -1.8% |
Asking rent | $681 | -0.7% |
Effective rent | $671 | -0.7% |
Effective rent per SF | $0.79 | 1.1% |
Offering concessions | 20% | 4.7% |
Avg. concession package | 6.6% | 7.1% |
*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% | 394 | $461 | $459 |
1 BR | 40.1% | 664 | $607 | $603 |
1 DEN | 0.0% | 552 | $600 | $600 |
2 BR | 37.9% | 950 | $754 | $745 |
3 BR | 13.0% | 1,243 | $1,051 | $1,034 |
>3 BR | 5.9% | 1,450 | $1,681 | $1,680 |
Read more at ALN Market News.
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