Feb 12, 2013
Lubbock ALN apartment data Jan. 2013
LUBBOCK - ALN Apartment Data released January statistics for apartments in the Lubbock market. *Same store is everything in a market except for apartments in initial lease-up. Read more at ALN...
LUBBOCK – ALN Apartment Data released January statistics for apartments in the Lubbock market.
Lubbock Market | Same Store* | |
Jan. 2013 | Annual Change | |
Occupancy rate | 90.9 | 0.3% |
Units added | 2 | -86.7% |
Units absorbed (annual) | 47 | -112.9% |
Average size (SF) | 847 | 0.2% |
Asking rent | $681 | 3.4% |
Effective rent | $670 | 3.2% |
Effective rent per SF | $0.79 | 3.0% |
Offering concessions | 28% | -4.9% |
Avg. concession package | 5.5% | 20.3% |
*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 | 3.3% | 392 | $454 | $452 |
1 BR | 39.8% | 661 | $603 | $598 |
1 DEN | 0.0% | 552 | $575 | $575 |
2 BR | 37.7% | 951 | $749 | $740 |
3 BR | 13.2% | 1,245 | $1,102 | $1,081 |
>3 BR | 6.0% | 1,452 | $1,837 | $1,836 |
Read more at ALN Market News.
Want to know more about what’s happening in Lubbock, see NewsTalk Texas.
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