Aug 28, 2012
Lubbock ALN apartment data July 2012
LUBBOCK - ALN Apartment Data has released July 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 July data for apartments in the Lubbock market.
| Lubbock Market | Same Store* | |
| July 2012 | Annual Change | |
| Occupancy rate | 90.5 | -1.5% |
| Units added | 45 | -61.2% |
| Units absorbed (annual) | -168 | -165.9% |
| Average size (SF) | 843 | 0.1% |
| Asking rent | $686 | 2.9% |
| Effective rent | $677 | 2.3% |
| Effective rent per SF | $0.80 | 2.2% |
| Offering concessions | 19% | -19.9% |
| Avg. concession package | 6.2% | 73.0% |
*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 | $448 |
| 1 BR | 40.2% | 656 | $590 | $585 |
| 1 DEN | 0.0% | 552 | $575 | $575 |
| 2 BR | 37.8% | 946 | $725 | $718 |
| 3 BR | 13.3% | 1,240 | $1,087 | $1,066 |
| >3 BR | 5.7% | 1,442 | $1,783 | $1,780 |
Read more at ALN Market News.
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