Oct 11, 2012
Lubbock ALN apartment data Sept. 2012
LUBBOCK - ALN Apartment Data has released September 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 September data for apartments in the Lubbock market.
Lubbock Market | Same Store* | |
Sept. 2012 | Annual Change | |
Occupancy rate | 93.1 | 2.4% |
Units added | 0 | -100.0% |
Units absorbed (annual) | 320 | 306.1% |
Average size (SF) | 849 | 0.2% |
Asking rent | $684 | 2.3% |
Effective rent | $677 | 1.8% |
Effective rent per SF | $0.80 | 1.6% |
Offering concessions | 20% | 18.7% |
Avg. concession package | 5.1% | 34.7% |
*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 | $449 | $449 |
1 BR | 39.8% | 657 | $592 | $589 |
1 DEN | 0.0% | 552 | $575 | $575 |
2 BR | 38.0% | 945 | $736 | $731 |
3 BR | 13.2% | 1,240 | $1,091 | $1,067 |
>3 BR | 6.1% | 1,452 | $1,873 | $1,865 |
Read more at ALN Market News.
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