May 28, 2015
ALN Lubbock apartment data April 2015
LUBBOCK - ALN Apartment Data released April 2015 apartment occupancy, effective rent and more data for apartments. *Stabilized market is everything in a market except for apartments in initial lease-up....
LUBBOCK – ALN Apartment Data released April 2015 apartment occupancy, effective rent and more data for apartments.
Lubbock Market | Stabilized Market* | |
Apr. 2015 | Annual Chg. | |
Occupancy rate | 91.7 | -0.4% |
Units added | 193 | – |
Units absorbed (annual) | -32 | – |
Average size (SF) | 846 | 0.1% |
Asking rent | $718 | 3.3% |
Effective rent | $714 | 3.3% |
Effective rent per SF | $0.84 | 3.2% |
Offering concessions | 14% | -6.6% |
Avg. concession package | 3.5% | -19.8% |
*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 | 2.9% | 391 | $496 | $495 |
1 BR | 39.3% | 667 | $655 | $652 |
1 DEN | 0.0% | 755 | $650 | $650 |
2 BR | 37.8% | 956 | $820 | $817 |
3 BR | 12.6% | 1,248 | $1,091 | $1,089 |
>3 BR | 7.3% | 1,553 | $1,972 | $1,972 |
Read more at ALN Market News.
See the full report: Lubbock Apartment Monthly Review Apr. 2015
Be sure to check out Lubbock Market Research.
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