Mar 4, 2013
Lubbock ALN apartment data Feb. 2013
LUBBOCK - ALN Apartment Data released February statistics for apartments in the Lubbock market. *Same store is everything in a market except for apartments in initial lease-up. Read more at...
LUBBOCK – ALN Apartment Data released February statistics for apartments in the Lubbock market.
| Lubbock Market | Same Store* | |
| Feb. 2013 | Annual Change | |
| Occupancy rate | 91.2 | 0.9% |
| Units added | 2 | – |
| Units absorbed (annual) | 127 | – |
| Average size (SF) | 849 | 0.2% |
| Asking rent | $679 | 2.8% |
| Effective rent | $671 | 3.0% |
| Effective rent per SF | $0.79 | 2.9% |
| Offering concessions | 24% | -13.5% |
| Avg. concession package | 5.1% | 10.1% |
*Same store 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 | 3.2% | 394 | $450 | $449 |
| 1 BR | 39.9% | 665 | $609 | $605 |
| 1 DEN | 0.0% | 552 | $575 | $575 |
| 2 BR | 37.9% | 955 | $750 | $745 |
| 3 BR | 13.1% | 1,244 | $1,098 | $1,077 |
| >3 BR | 5.9% | 1,452 | $1,839 | $1,838 |
Read more at ALN Market News.
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