Nov 2, 2012
Lubbock ALN apartment data Oct. 2012
LUBBOCK - ALN Apartment Data has released October data for apartments in the Lubbock market. *Same store is everything in a market except for apartments in initial lease-up. Read more...
LUBBOCK – ALN Apartment Data has released October data for apartments in the Lubbock market.
| Lubbock Market | Same Store* | |
| Oct. 2012 | Annual Change | |
| Occupancy rate | 92.4 | 1.2% |
| Units added | 0 | -100.0% |
| Units absorbed (annual) | 162 | 145.9% |
| Average size (SF) | 852 | 0.2% |
| Asking rent | $691 | 3.1% |
| Effective rent | $682 | 2.8% |
| Effective rent per SF | $0.80 | 2.6% |
| Offering concessions | 26% | 33.8% |
| Avg. concession package | 5.5% | 3.7% |
*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 | 3.0% | 394 | $451 | $451 |
| 1 BR | 39.8% | 658 | $596 | $592 |
| 1 DEN | 0.0% | 552 | $575 | $575 |
| 2 BR | 37.8% | 949 | $747 | $739 |
| 3 BR | 13.3% | 1,241 | $1,095 | $1,073 |
| >3 BR | 6.2% | 1,452 | $1,846 | $1,845 |
Read more at ALN Market News.
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