Rental Survey Annual - HousingMEMORANDUM
January 31, 2002
TO:
FROM:
SUBJECT:
The Honorable Mayor and City Council Members
Michael C. Van Milligen, City Manager
Annual Rental Survey
Housing & Community Development Department Director David Harris is transmitting
the results of the Annual Rental Survey.
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
David Harris, Housing & Community Development Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
Attachment #29
21 January 02
To: Mike Van Milligen, City Manager
From: Housing Trust Fund Committee
David Harris, Housing & Community Development Department
Re: Annual Rental Survey
The Housing Trust Fund Committee has received the sixth edition of the annual "River Town
Rents" survey of the Dubuque rental housing market. The survey is performed under the
direction of Len Decker at the Loras College Center for Business and Social Research.
The City Council authorizes use of Community Development Block Grant funds for payment
of costs. The survey is annually provided by the Housing Department to area landlords.
lenders, realtors and others with interest in the residential rental market, as a public
information service.
The survey measures current rents and occupancy rates of residential properties, city-wide.
A methodology developed by Dr. Decker samples these factors individually for four
geographic sectors of the city; further, within these sectors each of three types of rental
housing is sampled. These include single family rentals, duplexes and multi-unit apartment
buildings.
This year's survey, the sixth in a series originating in 1996, provides a mix of information on
the rental housing market. Over-all, rents remained relatively unchanged. However, this
differed markedly by geographic sector. Rents increased in the South and West end,
remaining significantly higher than other areas of the City. City-wide rents for single family
homes, and 2-and 3-bedroom apartments in multi-unit buildings saw no change. Duplexes
increased by 3.5%; efficiencies decreased by 1.5%. Only one-bedroom apartments in multi-
unit buildings experienced significant change, increasing by 12.5%.
The news was less positive for occupancy levels. Over-all, this rate dropped 4%. Again,
this varied significantly by sector, with the West and South sides enjoying higher
occupancies than other areas. The decline was consistent across all housing types, with
single family rentals down 1% to 3-bedroom apartments in multiples down 11%.
In the downtown and North sectors, occupancies were consistently down from data
published in last year's survey. Many factors historically contribute to these market
variations, but this year in particular it was mentioned that the closing of Farmland Foods
had a discernible impact on demand for rental units.
The narrative written by Dr. Decker this year makes note of another factor in discussion of
vacancy rates. For purposes of construction ofthe survey sample, approximately 1500
rental units are excluded from the city-wide total of about 7500 rentals. This is done in order
to factor out all Section 8, other HUD-subsidized and college-owned units, so as to assess
only those rentals operating under actual "market" conditions. In past years, in discussion of
city-wide occupancy rates, we have calculated a rate then based only on the sample of
market units. This has had the effect of under-stating the true city-wide occupancy rate.
Beginning with last year's report, Decker has calculated an actual city-wide occupancy rate,
by first conducting the survey of market units and then re-combining that number with the
1500 "non-market' rentals. This "extrapolated" rate has been calculated at 89%, indicating a
decline in over-all rental occupancies.
The survey and Housing Department-issued synopsis is attached for your review and for
distribution to City Council members.
H&CD
Housing and Community Development Department
1805 Central Avenue
Dubuque, Iowa 52001-3656
(563) 5894239 office
(563) 5894244 fax
22 January 02
Contact:
Jim Holz: 582-3973
David Harris: 589-4239
Len Decker: 588-7030
Sixth Annual "River Town Rents" Survey Released
The Housing Trust Fund Committee announces the release of the sixth annual River Town
Rents, a survey of the Dubuque residential rental market. The survey was conducted for the
Trust Fund Committee and the Housing and Community Development Department by the
Loras College Center for Business and Social Research. Dr. Len Decker, Director of the
Center, served as project director and author of the report. The survey is annually provided
by the Housing Department to area landlords, lenders, realtors and others with interest in the
residential rental market, as a public information service.
The survey measures current rents and occupancy rates of residential properties, City-wide.
A methodology developed by Dr. Decker samples these factors individually for four
geographic sectors of the City; further, within these sectors each of three types of rental
housing is sampled. These include single family rentals, duplexes and multi-unit apartment
buildings.
This year's survey, the sixth in a series originating in 1996, provides a mix of information on
the rental housing market. Over-all, rents remained relatively unchanged. However, this
differed markedly by geographic sector. Rents increased in the South and West end,
remaining significantly higher than other areas of the City. City-wide, rents for single family
homes, and 2- and 3-bedroom apartments in multi-unit buildings saw no change. Duplexes
increased by 3.5%; efficiencies decreased by 1.5%. Only one-bedroom apartments in multi-
unit buildings experienced significant change, increasing by 12.5%.
The news was less positive for occupancy levels. Over-all, this rate dropped 4%. Again, this
varied significantly by sector, with the West and South sides enjoying higher occupancies
than other areas. The decline was consistent across all housing types, with single family
rentals down 1% to 3-bedroom apartments in multiples down 11%.
In the Downtown and North sectors, occupancies were consistently down from data published
in last year's survey. Many factors historically contribute to these market variations, but this
year in particular it was mentioned that the closing of Farmland Foods had a discernible
impact on demand for rental units.
The CBSR survey and a Housing Department synopsis is attached. Please contact Jim Holz,
Chair of the Housing Trust Fund Committee; Len Decker, at Loras College; or David Harris, at
the Housing Department, for additional information.
Service People Inte~ity Respor~ibility Innovation Teamwork
RIVER TOWN RENTS VI
2001 SURVEY SYNOPSIS
ANALYSIS AND CONCLUSIONS
City-wide median rent for single family dwellings was $500/month; for
duplexes, this rent was $390/month. In multiple-unit buildings, median
rents were as follows:
Efficiency $295
1-bedroom $338
2-bedroom $430
3-bedroom $500
Median rents, for survey purposes, did not include any utilities costs.
Due to the small number of 4-bedroom units in the sample, no information is
provided in this analysis.
By geographic area, single family rents were highest ($568/month) in the
South end. North end rents were lowest, at $475.
Duplex rents were also highest ($480) in the South end; North end rents were
also lowest, at $372.
In multiple-unit buildings, highest median rents for 1-bedroom units, at
$790/month, were in the South end; lowest were downtown at $295. The high
South end figure is explained by the concentration of units reported in one
newly-constructed apartment complex.
Highest rents for 2-bedroom units were also in the South, at $500.
Lowest were also Downtown, at $350.
Adequate sample size for 3-bedroom units was obtained only in the Downtown;
this rent was $450.00.
Efficiency units were also sampled. Rents for these were $310/month in the
West end and $235 Downtown.
The City-wide non-subsidized rentals occupancy rate for single family dwellings
was 92%; for duplexes, the rate was 87%. In multiple-unit buildings, the rates
were as follows:
Efficiency 74%
l-bedroom 85%
2-bedroom 89%
3-bedroom 85%
The City-wide occupancy rate for all rental units was 89%. This includes the
approximately 1500 rent-subsidized and college-owned units. Excluding these
units reduces the city-wide rate to 86%
By geographic area, occupancy rates were highest for single family
dwellings in the South end (100%). North end single-family occupancy was
lowest at 88%.
Duplex occupancies were highest in the West (96%) and lowest in the North
end (84%).
In multiple-unit buildings, South end 1-bedroom units had highest occupancy
levels, at 93%. Lowest were Downtown, at 73%.
2-bedroom occupancies were also highest in the South end, at 95%. Lowest
were in the North end, at 85%
For 3-bedroom units, valid sample sizes were obtained for the West and
Downtown. For these units, occupancy levels were 93% and 77%.
For efficiency units, highest rates (at 82%) were in the West end; lowest were
Downtown at 63%.
Comparisons: 2000 and 2001 survey results*
Rents
The 2001 survey shows that rents have in most cases seen little change,
city-wide. Single-family rentals increased by $2; duplexes increased 3.5%. In
multiple-unit buildings, rents in one-bedroom apartments experienced the only
significant change, increasing by 12.5%.
Two- and three-bedroom units saw no change; efficiency rents actually
decreased slightly, by t.5%.
These comparisons are summarized as follows:
Unit type 00 rent 01 rent $ change % change
Single-family $498 $500 2 0
Duplex 377 390 13 3.5
Multi-unit
1-bedroom 300 338 38 12.5
2-bedroom 430 430 0 0
3-bedroom 500 500 0 0
Efficiency 300 295 (5) (1
* A comparison of survey results from years 1996-2001 is fully detailed in
the published report, for both rents and occupancy levels.
Comparison of 2000-2001 rent changes - by the four sectors of the City - shows
an inconsistent pattern of rent fluctuations. In the South end, rents increased in
all types of units excepting single family properties (reduced by $7). Rents over-
all saw significant increases in this sector and were the highest in the City, in
each housing category.
In the West end, the pattern was more mixed. Rents increased for efficiencies
and one-bedroom apartments in multi-unit properties. However, they decreased
in single family and two-bedroom multiple-unit rentals, and remained the same in
duplexes.
On the North side of the City, rents increased, significantly, for all types of units
but two-bedroom multiples, which decreased (by $7).
The Downtown, typically, had the lowest rents and least change in levels from
year-to-year. Single family, efficiency and three-bedroom multi-unit property
rents increased. Duplex and one-bedroom multiple rents decreased; two-
bedroom multiples remained the same.
As mentioned, City-wide median rents did not vary significantly from last year's
numbers, with three unit types experience no change, duplexes increasing by
3.5%, one-bedroom multiples increasing by 12.5% (the exception) and
efficiencies declining by 1.5%. However, some individual sectors were stronger-
the South and West sides - while the North end saw some healthy increases and
the downtown market was relatively fiat. The strongest single type of rental unit,
evidenced from increased rents, was one-bedroom apartments in multi-unit
buildings, as significant increases for these occurred in all but the Downtown
sector.
Vacan¥ Rates
Reversing a two-year trend, vacancy rates increased this year, for all types of
units. For the City's 7485 total rental units, the over-all occupancy rate for this
survey in imputed at 89%, compared with a 93% rate last year. Eliminating the
approximately 1500 rent-subsidized and college-owned units from the actual
survey sample - for purposes of surveying only "market" rentals - computes to an
86% City-wide occupancy rate, compared with 91% last year. This is a
significant decrease in occupancies.
The rate was consistent across all housing types. Single family occupancies
decreased by 1%; duplexes and two-bedroom apartments in multi-units were
down by 2%. One-bedroom multiples declined 7%, efficiencies 9% and 3-
bedroom multiples 11%. It is interesting to note that while one-bedroom
apartments in multi-unit buildings significantly declined in occupancy, City-wide,
they also experienced significant rent increased in three of the four geographic
sectors.
These comparisons are summarized as follows:
Unit type
Single-family
Duplex
Multi-unit
1-bedroom
2-bedroom
3-bedroom
Efficiency
City-wide*:
o_0 o4
occupancy occupancy % chan,qe
93% 92% (1)
89 87 (2)
92 85 (7)
91 89 (2)
96 85 (11)
83 74 (9)
93 89 (4)
*includes all of the City's 7485 rental units
A comparison by geographic areas of the City, however, shows disparate
impacts of the reduced occupancies. Just as the South and West side owners
have higher rents, they also enjoy higher occupancy levels. However, even in
these traditionally stronger markets, some slippage occurred during the past
year.
In the South end, occupancies increased in two-bedroom apartments in mUlti-
units and remained at 100% for single family rentals. Meanwhile, they declined
in duplexes and one-bedroom multiples.
On the West side, an increase occurred only in 3-bedroom multiples. Rates
declined in single family and duplex rentals and one-bedroom multiples; they
remained the same in two-bedroom multiples and efficiencies.
This year's survey indicates that North end rentals experienced the greatest
occupancy decreases, with declines in all types of units. Lowest occupancy
rates in the City were seen in single family and duplex rentals, as well as in one-
bedroom apartments in multi-unit buildings. Of interest is the survey finding that
North end rents actually saw healthy increases in three of four housing types,
ranging from $22 to $52 per month, even as occupancies declined.
In the downtown, rates actually increased for single family rentals, while
declining in all others. Lowest City occupancy rates wer~ observed in
efficiencies and 2- and 3-bedroom multiples.
Continued Iow occupancy levels in efficiency units, City-wide, suggests that this
type of housing has fallen out of favor with more renters in general. Today's
tenants appear to expect larger units than efficiencies typically offer.
Note: While many factors historically contribute to the "two-market" aspect of
Dubuque's rental unit community, one aspect in particular has been identified to
partially explain this year's weakened North end/Downtown - compared with the
South and West sides - occupancy performance. According to several property
owners and managers, the closing of Farmland Foods resulted in a significant
impact on occupancies in these areas.
SURVEY FINDINGS
Rents*
Median rents - the rent at the mid-point of the distribution of all rents surveyed
(for each unit type) - were determined, City-wide, as follows:
Single family $500/month
Duplex 390
Multiple:
Efficiency 295
1-bedroom 338
2-bedroom 430
3-bedroom 500
*rent figures given excluded all utilities
By geographic area, median rents were as follows:
Single ~lex: Multi )le:
2BR 3BR 1BR 2BR 3BR EFF 1BR 2BR 3BR
Downtown $485 $550 Downtown $300 $375 $475 Downtown $235 $295 $350 $450
North 400 500 North 300 368 425 North * 312 393 *
West 505 625 West 325 450 450 West 310 450 475 *
Sob-th * . South * · . South * 790 500
City-Wide 475 563 City-Wide 300 385 450 City-Wide 295 338 430 500
*where noted, no median rent figures are listed, due to small sample sizes
OCCUPANCY RATES
Occupancy rates, City-wide, were determined as follows:
Single family 92%
Duplex 87%
Multiple:
Efficiency 74%
1-bedroom 85%
2-bedroom 69%
3-bedroom 85%
City-wide 89%
This includes the approximately 1500 rent-subsidized and college-owned
units. Excluding these units reduces the City-wide rate to 86%.
Multi )le: 1-BR 2-BR 3-BR EFF
~51n.C:lle Tamll f: I.)Upl~x. ~wu~,~,,~. , ,-, .............
Downtown 93% Downtown 86% Downtown 82% 86% 77% ~63%
North 88% North 84% North 73% 90% * *
West 92% West 96% West 90% 88% 93% 82%
South 100% South 85% South 93% 95% * *
City-Wide 92% City-Wide 87% City-Wide 85% 89% 85% 74%
*where noted, no occupancy rates are listed, due to small sample sizes
Synopsis prepared by:
David Harris
Housing and Community Development Department
January 02
DH/jn
River Town Rents VI:
A Survey of the Dubuque Residential Rental Market
A Research Report
S,~m~ tted by:
Leonard R. Decker, Ph.D.
Director
Center for Business and Social Research
Loras College
Dubuque, Iowa 52001
S=.~-"~tted to:
Housing Trust Fund Committee
Housing Services Department
City of Dubuque, iowa
January 2002
AC~ONLEDGEMENTS
The author wishes to express his appreciation to the following for
their help and support in the completion of this project:
Jim Hotz and members of the Housing Trust Fund Committee for their
leadership and support of this project.
David Harris and members of the Dubuque Housing and Community
Development Department for providing information that was essential to
sample selection and data gathering.
Mayor Terry Duggan and the Dubuque City Council for authorizing
Community Development Block Grant (CDBG) funds to finance this rental
housing survey.
Delores Vogt and members of the staff of Advanced Data Con,m, Inc. for
their expertise and professionalism when interviewing participants in
the survey.
Ms. Libby Decker, CBSR Research Assistant, for her attention to detail
in assisting with various tasks associated with the project.
Owners and managers of rental properties throughout the City of Dubuque
who shared some of their time to complete the mail survey or talk with
interviewers.
John Anderson, Director of Information Services at Loras College, for
his expertise in providing necessary computer services.
However, any errors contained within this document remain the sole
responsibility of the author.
TABLE OF CONTENTS
Introduction ........................................................ 1
Methodology ......................................................... 1
Population and Sample ............................................... 1
Findings ............................................................ 2
Distribution of Bedroo~ Units in Survey Rental Properties ...... 4
Rent Costs of Survey Rental Properties ......................... 4
Occupancy Rates for Rental Properties Surveyed ................. 16
Summary Points ................................................. 25
Conclusions .................................................... 29
RIVER TOWN RENTS - VOLUME VI
Introduction
The Center for Business and Social Research (CBSR) of Loras College was
contracted by the Department of Housing Services to conduct a sixth
survey of the residential rental market in the City of Dubuque. The
objective of the research was to gather information about current rent
levels and occupancy rates for various types of rental housing. In
addition, the information wilt be compared with results from surveys
conducted annually since 1996 to provide a trend analysis of the
current residential rental market in Dubuque.
Methodology
The 2001 residential rental market survey involved a two-pronged
approach to data gathering: 1) a telephone survey of a sample of
property owners and managers and 2) a mail survey sent to property
owners and managers who were responsible for more than 20 rental units.
The mail survey was implemented to ensure contact with those who make
up a substantial segment of the local residential rental market. Data
gathered from the mail survey, combined with the results of telephone
interviews, provide a very comprehensive assessment of the local
residential rental market.
CBSR personnel worked with members of the Housing Department to design
instruments for gathering identical information by means of telephone
interviews and self-administered questionnaires. (Copies of the
questionnaires are provided in Appendix A.)
The research population consisted of all non-publicly subsidized rental
properties within the City of Dubuque but did not include college-owned
rental properties. This research population was then categorized
according to one of four geographic locations (south, west, north, and
downtown) as well as three types of rental housing units (duplexes,
multiple units, and single family). Telephone interviews were
completed over a one-week period (Thursday, October 18 to Wednesday,
October 24) by the staff of Advanced Data Comm, Inc., a local
teleservices firm. Surveys were also mailed to rental property owners
with 20 or more units on Friday, October 5. Those who did not return
the mail surveys by October 23 were called and encouraged to complete
and return their surveys as soon as possible. If a new survey was
requested, the Housing Department was notified and a second survey was
sent to the respondent. Mailed surveys were returned through the
second week of November.
Population and S~le
Information from the Housing Services Department indicated that the
City of Dubuque had 2,150 non-subsidized, non-college owned rental
properties at the time of the survey. Of these, 1,808 were used to
draw a sample of 500 properties for conducting telephone interviews and
owners of the remaining 342 properties were sent mail surveys to be
completed. Ail of the entries on the list of properties used for
sample selection were placed in one of four geographic locations using
the boundaries illustrated in Figure 1. The larger circled nu/~bers on
the map correspond to the geographic location designated in the Key at
the bottom of the page. Ail of the properties included in the returned
mail surveys were also coded for geographic location.
RENTAl, ~URVF, Y MAP
DI.J BUQ{ IF., /()WA
KEY
I. S(~)(.I'I'II F. ND
WF. ST ENl.)
3. NORTII I';NI;)/ POINT
4° DOWNTOWN
After coding each property for geographic location, the list of 1,808
properties was divided into twelve lists representing each type of
rental housing property (duplexes, multiple unit properties, single
fan~ly dwellings) within each location (south, west, north, downtown).
Random samples of properties were chosen from each of these twelve
lists to create the total sample of 500 properties. As a result, the
sample is proportionate by geographic location and type of rental
property, thus enhancing the representativeness of the sample as a
reflection of the total population of rental properties in the city.
This sample data was supplemented with information on 218 properties
obtained from 14 property owners/managers who returned the mailed
surveys. This represents a 56% response rate from the 25 property
owners who were mailed a self-administered survey and a 63% response
rate for the 342 properties covered in the mail survey. While the 56%
property owner response rate is 7% lower than the 63% property owner
response rate of last year, the 63% property response rate is 13%
higher than the 50% property response rate of last year. Thus, while a
lower percentage of property owners participated this year compared to
last, the mail survey yielded more information on rental properties
than last year.
While there was not previous information about the number of different
sizes of rental units (as defined by number of bedrooms), this survey
did gather information about the number of bedrooms that existed in the
three types of rental properties as well as the number of efficiency
apartments in multiple unit properties. In addition, rent information
for efficiency units and different sizes (as defined by number of
bedrooms) of rental units was obtained for single family dwellings,
duplexes, and multiple unit properties. Lastly, Occupancy rates for
the date of September 10, 2001 were obtained for the various types of
rental units.
Findings
Table t. provides a summary of the types of rental housing properties
contained in the study population and survey group.
Table 1. Summary of Population and Survey Rental Properties
Type of Rental Property No. in Pop. % of Pop. NO. in Survey % of Survey
t. Duplex
2. Multiple Unit
3. Single Family
916 43% 274 38%
Property 702 33% 262 37%
Dwelling 532 24% 182 25%
Total: 2,150 Total: 100% Total: 718 Total: 100%
As indicated in Table 1., the single largest category of rental
properties (43%) in the city of Dubuque is that of duplexes. Multiple
unit properties represent 33% of rental properties and about a quarter
(24%) of rental properties are single family dwellings. The table also
indicates that the survey group is fairly proportionate by type of
rental property to the overall population of rental properties in the
city. The percentage variations between survey and population group
percentages are the result of data received from the mail survey. This
data is based upon those who returned the questionnaires mailed to them
and thus may not be representative of all the properties included in
the mail survey. Thus, while the percentages for single family
dwellings vary by only one percentage points (25% vs. 24%), the survey
contains 5% less of duplex properties than their percentage
representation in the total population of residential rental properties
(38% vs. 43%) and 4% more than percentage representation of multiple
unit properties in the residential rental market (37% vs. 33%). This
is the result of a higher response rate from o~rners of multiple unit
properties (63%) who were mailed a survey than the response rate of
owners of duplexes (55%). It is also noteworthy that this 2001 report
is based upon data collected from 718 properties, 40 more than the 678
properties in the 2000 residential rental report. This is probably the
result of the 63% property response rate for this year's mail survey
that, as mentioned earlier, is notably higher than last year's 50%
property response rate.
Table 2. provides a sumumary of the categories of rental properties in
the research population and the survey group by region of the city.
Table 2. Summary of Population and Survey Rental
Properties by Region of the City
Rental Property No. of % of No. of % of NO. of Phone % of Phone
Location and Phone Phone Phone Phone & Mailed & Mailed
Category Pop. Pop. Sable Sample Props Props
(N=1,808) (N=500) (N=718)
1. South D. rea of City
a. Duplexes 41 2% 10 2% 12 2%
b. Multiple UPsets 27 t% 4 1% 6 2%.
c. Single family 43 2% 1--0 2--% 16 2%
Totals: 111 5% 24 5% 34 ~
West ~ea of City
a. Duplexes 147 8% 40 8% 45 6%
b. Multiple Units 120 7% 35 7% 96 13%
C. Single family 12--1 7% 3--5 7% 5--1 7%
Totals: 388 22~ 110 2~ 192 2~
3. North Area of City
a. Duplexes 312 17% 85 17% 102 14%
b. Multiple Units 74 4% 20 4% 37 5%
c. Single family 166 9% 46 9% 57 8-%
Totals: 552 30~ 15~ 3~ 1~ 27%
4. DoWntown Area of City
a. Duplexes 336 19% 95 19% 115 16%
b. Multiple Units 286 16% 80 16% 123 17%
c. Single family 13--5 8% 40 8--% 5-5 8-5
Totals: 757 43% 215 43% 296 41%
Grand Totals: 1,808 100% 500 100% 718 100%
Table 2. provides additional information on the representativeness of
the data gathered as well as a description of the concentrations of
various types of residential rental properties throughout the city. As
indicated, the phone survey sample is exactly proportionate by type of
housing in each area of the city to the total population of properties
from which the phone survey sample was drawn. When properties included
in the mail survey are added to those in the phone survey, the makeup
of the total survey group is quite similar to the makeup of the phone
survey sample. The percentages for each category of housing type in
each area of the city of the total survey group does not vary more than
~ 4% from the distribution in the phone survey sample (which is
representative of the total phone survey population).
As indicated above, the largest concentration of rental properties is
located in the downtown area of the city. In addition, downtown
Dubuque has the largest number of duplexes and multiple unit properties
while the north end of the city possesses the largest number of single
family rental properties. The north end of the city also has a
sizeable number of duplexes. Overall, the north and downtown areas of
Dubuqus contain 69% of the 718 non-subsidized rental properties that
are the basis for this rental report. In addition, the west end of the
city accounts for more than a quarter (27%) ~f the rental properties
surveyed.
Distribution of Bedroom Units in Survey Rental Properties
The survey of 718 rental properties contained 2,480 separate rental
units located as follows: 182 in single family dwellings, 457 in
duplexes, and 1,841 in multiple unit properties.
Table 3. presents a summary of the various bedroom units available in
2,480 single family dwellings, duplex apartments, and apartments
located in multiple unit properties.
Table 3. Distribution of Bedroom Units
Available in Three Types of Rental Housing
Size of Bedroom Unit Single Family Dwellings
No. Percent
Efficiency unit 0 0%
1-bedroom unit 21 12%
2-bedroom unit 65 36%
3-bedroom unit 84 46%
4+-bedroom unit 12 6%
Total: 182 100%
Multiple Unit
Duplex Units Apartments
No. Percent No. Percent
0 0% 217- 12%
93 20% 757 41%
225 49% 768 42%
127 28% 93 5%
12 3% 6 0%
457 100% 1,841 100%
As indicated in the table, the largest concentration of rental units
was found in the multiple unit properties. This is quite reasonable
given the fact that many different rental units can be contained in one
multiple unit property compared to one single family dwelling or duplex
property. It must also be remembered that the percentage distributions
of different sizes of bedroom units may not reflect the actual
distribution of these units in the rental market. While the sarmple of
rental properties was randomly selected to be proportionate to the
rental property population, the database did not provide information to
sample according to the bedroom sizes of rental units.
Of the 182 single family houses, 12% were one-bedroom units, 36% were
2-bedroom units, slightly less than half (46%) were 3-bedroom
dwellings, and 6% had 4 or more bedrooms.
Data was gathered from 274 duplex properties and information about
bedroom sizes was obtained for 457 duplex units. (Bedroom size, rent
and occupancy information was not gathered for any single duplex unit
that w~s currently occupied by the owner of the duplex property.) Of
the 457 duplex apartments, 20% were one-bedroom units, just less than
half (49%) were 2-bedroom units, slightly more than a quarter (28%)
were 3-bedroom apartments and only 3% had 4 or more bedrooms.
Residential rental property information was provided by 262 multiple-
unit property owners/managers during the course of the survey. These
individuals provided information involving 1,841 rental units. Twelve
percent of these units were efficiency apartments, 41% of the
apartments were 1-bedroom units, another 42% had 2 bedrooms, and 5% had
3 bedrooms. Only 6 of the 1,841 rental units located in multiple unit
properties had 4 or more bedrooms.
Rent Costs of Survey Rental Properties
Respondents were asked to provide monthly rent figures for their
various rental properties end the rent figures given excluded
utilities. If the respondent provided a range of rent prices for a
particular type of property, the midpoint of the range was used as the
rent figure.
Rent figures were secured for 158 of the 182 (87%) single family rental
properties. The range of rents charged for single family dwellings was
from $150 to $995. The median rental figure, which is in the middle of
the distribution of rents, is provided for each size of single family
unit.
Table 4. provides a distribution of the number of single family units
at various rent levels as well as the median rent figure for each.
Table 4. Distribution of Single Family Units
at Various Levels of Rental Cost and Median Rent Figures
N/% of ~/% of N/% of N/% of N/% of
Range of Rent Ail Units 1-BdrmUnits 2-BdrmUnits 3-BdrmUnits 4-BdrmUnits
1. 000 - 100 0/ 0% 0/ 0% 0/ 0% 0/ 0% 0/ 0%
2. 101 - 200 4/ 2% 1/ 5% 2/ 3% 1/ 1% 0/ 0%
3. 201 - 300 9/ 6% 7/ 37% 1/ 2% 1/ 1% 0/ 0%
4. 301 - 400 37/ 23% 7/ 37% 17/ 29% 11/ 15% 2/ 25%
5. 401 - 500 42/ 27% 3/ 16% 20/ 34% 15/ 21% 4/ 50%
6. 501 - 600 28/ 18% 0/ 0% 11/ 19% 15/ 21% 2/ 25%
7. 601 - 700 23/ 15% 1/ 5% 5/ 8% 17/ 24% 0/ 0%
8. 701 - 800 10/ 6% 0/ 0% 3/ 5% 7/ 10% 0/ o%
9. 801 - 900 3/ 2% 0/ 0% 0/ 0% 3/ 4% 0/ 0%
10.901 - 1000 2/ 1% 0/ 0% 0/ 0% 2/ 3% 0/ 0%
Totals: 158/100% 19/100% 59/100% 72/100% 8/100%
Median Rent: $500.00 $350.00 $475.00 $563.00 $443.00
As indicated in T~ble 4., half (50%) of the single family units
surveyed were rented for $301 - $500 a month while slightly more than a
quarter(27%) rented at the $401 - $500 a month level. Eight percent
of single family units were rented for up to $300 a month and a third
(33%) of single family un~ts were rented for $501 - $700 a month.
Almost three-quarters (74%) of the 1-bedroom single family units were
rented for $201 - $400 a month; 63% of 2-bedroom units rented in the
$301 - $500 range and 42% of 3-bedroom units were rented in the $401 -
$600 range, and all 8 of the 4+-bedroom single family units rented for
$301 - $600 a month. As one would expect, median rental costs
increased as the size of the unit increased, except for the 4+-bedroom
units that had a median rent of $443.00. Thus, the median rental
figure for a 1-bedroom single family unit was $350.00; for a 2-bedroom
unit - $475.00; and for a 3-bedroom unit - $563.00. The median rent of
$443.00 for a 4+-bedroom unit is probably a reflection of sampling
error since rent information was provided for only 8 4+-bedroom single
family units and 4 of the 8 units rented in the $401 - $500 range. The
median rent paid for all single family dwellings included in the survey
was $500.00.
6
Owners/managers of duplexes were asked to provide rental figures for
both sides of their properties, except if one of the sides was owner-
occupied. The rents charged for duplexes ranged from $100 to $875.
The median rental figure was $377.00 for all duplex properties.
Table 5. provides a distribution of the number of duplex units at
various rent levels as well as the median rent figure for each.
Table 5. Distribution of Duplex Units
at Various Levels of Rental Cost and Median Rent Figures
N/% of N/% of N/% of N/% of N/% of
Range of Rent Ail Units 1-BdrmUnits 2-BdrmUnits 3-BdrmUnits 4-BdrmUnits
1. 000 - 100 0/ 0% 0/ 0% 0/ 0% 0/ 0% 0/ 0%
2. 101 - 200 11/ 3% 9/ 14% 2/ 1% 0/ 0% 0/ 0%
3. 201 - 300 68/ 19% 24/ 37% 31/ 16% 13/ 12% 0/ 0%
4. 301 - 400 130/ 35% 28/ 43% 80/ 41% 18/ 17% 4/ 58%
5. 401 - 500 101/ 27% 4/ 6% 57/ 30% 39/ 38% 1/ 14%
6. 501 - 600 41/ 11% 0/ 0% 16/ 8% 24/ 23% 1/ 14%
7. 601 - 700 8/ 2% 0/ 0% 5/ 3% 3/ 3% 0/ 0%
8. 701 - 800 7/ 2% 0/ 0% 2/ 1% 4/ 4% 1/ 14%
9. 801 - 900 3/ 1% 0/ 0% 0/ 0% 3/ 3% 0/ 0%
Totals: 369/100% 65/100% 193/100% 104/100% 7/100%
Median Rent: $390.00 $300.00 $385.00 $450.00 $350.00
Duplex rent figures were provided for 369 units of the 274 duplex
properties included in the survey. Of the 274 duplex properties and
457 units surveyed, information was unable to be obtained for 88 duplex
units as a result of Uno responses" or the discovery that the unit was
owner occupied and thus not eligible for inclusion in data about
current rental costs for duplex units.
As indicated, the median rent for all duplexes is $390.00. In
addition, the larger the duplex unit, the higher the median rent,
except the 4+-bedroom units. The median rent figure for 4+-bedroom
units is, again, likely a reflection of sampling error since only 7 of
these units were included in the survey and 4 of them rent in the $301
- $400 range. More than a third of the duplex units surveyed (35%)
have rents in the $301 - $400 range. Slightly more than a fifth (22%)
have rents up to $300 a month and 27% have rents in the $401 - $500
range. Sixteen percent of duplexes have rents of $501 or more.
Slightly over half (51%) of 1-bedroom duplex units have rent figures in
the $101 - $300 range and 43% are in the $301 - $400 rent range.
Forth-one percent of 2-bedroom units cost $301 - $400 and 30% cost
$401 - $500 a month. Also, 61% of 3-bedroom units cost $401 - $600 a
month and 4 of the 7 duplex units (58%) with 4+ bedrooms rent for
$301 - $400.
7
Table 6. provides a distribution of median rental costs for single
family dwellings for each region of the city. The median is considered
the most valid ~average" figure since it divides the distribution of
rents in half, with 50% of the rent responses above and 50% below this
summary statistic. The letter "N" represents the number of rent
figures that the median rent value is based upon out of the total
number of single fatally dwellings surveyed.
Table 6. Median Rental Costs for Single
Family Dwellings by Region of the City and Size of Unit
Median Rent
Region 1-BdrmUnits
1. South (N=16/16) $300 (N=I)
2. West (N=42/51) $425 (N=2)
3. North (N=50/57) $375 (N=7)
4. Downtown (N=50/58) $325 (N=9)
Median Rent Median Rent Median Rent
2-Bdrm Units 3-Bdrm Units 4-Bdrm Units
$535 (N= 7) $650 (N= 7) $450 (N=t)
$505 (N=14) $625 (N=25) $425 (N=i)
$400 (N=19) $500 (N=21) $400 (N=3)
$485 (N=19) $550 (N=19) $550 (N=3)
Median Rent: $350.00 $475.00 $563.00 $443.00
The above rental costs for single family dwellings are based upon
response rates ranging from a low of 82% for units located in the
western part of Dubuque to a high of 100% for units located on the
south side of the city. The overall response rate for obtaining single
family dwelling rent figures was 87%.
As indicated, 131 of the 158 single family units (83%) for which rental
figures were provided are 2- and 3-bedroom units. The highest rents
for these 2- and 3-bedroom single family dwellings are paid on the west
and south sides of the city while the lowest rents for 2- and 3-bedroom
units are paid in the northern part of town. Sixteen of 19 1-bedroom
single family units were located in the downtown section and north side
of the city. Of these 16, the most expensive were located on the north
side of the city and the least expensive in the downtown area. Data
was obtained for only 8 4-bedroom single family units with the most
expensive located in the downtown area of the city and the least
expensive located in northern section of town. The median rent paid
for all single family dwellings included in the survey was $500.00.
Graph 1. Provides a comparison of 1996, 1997, 1998, 1999, 2000, and
2001 median rents for single family dwellings by region of the city.
The numbers in parentheses indicate the number of units of the total
number of single family units surveyed that the rent figures are based
upon.
1996-2001 Median Rents for Single Family Dwellings
by Region of the City
Graph 1
South
(15/16)
West
44/50)
No~
S2001
S2000
01999
01998
m1997
~1996
$100 $200 $300 $400 $500 $600
As indicated, from 1996 - 2000 the median rents for single family units
progressively increased in all sections of the city but, from 2000 -
2001, declined by 1% ($7) in the south and 5% ($32) in the western part
of the city. At the same time, single family median rents increased 6%
($25) on the north end and 3% ($15) in the downtown area from 2000 -
2001. However, median rents for single family units on the south and
west sides of the city remain notably higher than single family median
rents on the north side and in the downtown area. It is also
noteworthy that while single family rent increases have occurred
gradually in the northern and downtown areas since 1996, the south and
west have experienced rather large and pronounced rent increases since
1998. The single largest increase on the west end occurred from 1998 -
1999 when the median rent increased by 14% ($68). The median rent for
single family units on the south side of town also increased 14% ($63)
between 1998 and 1999. Thus, single family median rents are not only
higher but have increased more notably on the south and west sides of
Dubuque compared with the north and downtown areas of the city.
However, the rent figures for the southern area are based upon
information from small numbers of properties.
9
Table 7. provides a distribution of median rental costs for duplexes
for each region of the city. As before, the letter "N" represents the
nu~foer of rent figures that the median rent value is based upon out of
the total number of duplex units surveyed.
Table 7. Median Rental Costs for Duplex Units
by Region of the City and Size of Unit
Median Rent Median Rent Median Rent Median Rent
~egion 1-BdrmUnits 2-BdrmUnits 3-BdrmUnits 4-BdrmUnits
1. South (N=13/20) $325 (N= 3) $480 (N= 6) $550 (N= 4) No Properties
2. West (N=71/74) $325 (N=15) $450 (N=36) $450 (N=lg) $800 (N=i)
3. North (N=121/164) $300 (N=16) $368 (N=76) $425 (N=27) $350 (N=2)
4. Downtown N=164/199)$300 (N=31) $375 (N=75) $475 (N=54) $400 (N=4)
Median Rent: $300.00 $385.00 $450.00 $350.00
The above rental costs for duplexes are based upon response rates
ranging from a low of 65% for units located in the southern part of
Dubuque to a high of 96% for units located on the west side of the
city. The overall response rate for obtaining duplex rent figures was
82%.
As indicated, and ignoring the information for only 6 4-bedroom units,
the larger the duplex in terms of bedroom size, the higher the median
rent. The highest median rents for all sizes of units for which data
were provided were found on the south side of the city. However, this
is based upon data for only 13 units. Excluding rental data for the
insufficient sample of only 13 duplex units located on the south side
of town, the highest rents for 1-bedroom duplex units are paid on the
west end while the north side and downtown area have lowest median
rents for 1-bedroom duplexes. The highest rents for 2-bedroom duplex
units are paid on the west end and the lowest rents for the sa~e size
unit are found on the north side. The downtown area has the highest
duplex rents for 3-bedroom units while the lowest rents for this type
of rental property are found on the north side of the city. Rental
information was obtained for only 6 4-bedroom units and the median rent
for these units was $350.00. The median rent paid for all duplexes
included in the survey was $390.00.
10
Graph 2. Provides a comparison of 1996, 1997, 1998, 1999, 2000, and
2001 median rates for duplex units by region of the city. The numbers
in parentheses indicate the number of units of the total nu~aber of
duplex units surveyed that the rent figures are based upon.
1996 - 2001 Median Rents for Duplex Units
By Region of the City
Graph 2
South
West ~ .2000
I Q1999
~ Q1998
~ i1997
North I !1996
$0 $100 $200 $300 $400 $500 $600
As indicated, median duplex rents on the west side of the city remained
unchanged from 2000 - 2001 while increasing in the northern and
southern sections of the city and decreasing in the downtown area.
From 2000 - 2001, the median rents for duplexes increased 8% ($37) in
the south and 6% ($22) in the north while declining 6% ($25) in the
downtown region. Similar to the rental market for single family units,
higher median rents are found on the west and south sides of the city.
Yet, duplex rents have gradually increased on the north side since 1996
and increased dramatically in the downtown area in 1999. However,
downtown duplex rents were stable from 1999 - 2000 before notably
declining during 2001.
In terms of multiple unit buildings, it is quite common to have
different rental rates for the same type of bedroom unit depending upon
the features of the apartment. As a result, the owners/managers of 262
multiple unit properties were given the opportunity to provide multiple
rental rates for same size apartments, if applicable. Respondents were
able to provide up to three rents for the same size bedroom unit.
i1
Table 8. provides a distribution of units at various levels of rent for
multiple unit properties.
Table 8. Distribution of Units
at Various Levels of Rent in Multiple Unit Properties
N/% of N/% of N/% of N/% of N/% of N/% Of
Ranqe of Rent All Units Eff Units t-Bdrm Units 2-Bdrm Units 3-Bdrm Units 4-Bdrm Units
1. 000-100 0/ 0% 0/ 0% 0/ 0% 0/ 0% 0/ 0% 0/ 0%
2. 101-200 35/ 2% 11/ 11% 23/ 4% 1/ 0% 0/ 0% 0/ 0%
3. 201-300 278/21% 46/ 44% 166/ 29% 60/ 9% 6/ 14% 0/ 0%
4. 301-400 494/37% 47/ 45% 207/ 36% 229/ 36% 1t/ 25% 0/ 0%
5. 401-500 329/24% 0/ 0% 132/ 23% 175/ 28% 22/ 50% 0/ 0%
6. 501-600 107/ 8% 0/ 0% 20/ 4% 83/ 13% 1/ 2% 3/ 75%
7. 601-700 57/ 4% 0/ 0% 4/ 1% 50/ 8% 3/ 7% 0/ 0%
8. 701-800 30/ 2% 0/ 0% 10/ 2% 20/ 3% 0/ 0% 0/ 0%
9. 801--900 21/ 2% 0/ 0% 4/ 1% 16/ 3% 0/ 0% 1/ 25%
10. 901-1000 1/ 0% 0/ 0% 0/ 0% 0/ 0% 1/ 2% 0/ 0%
11.1001--1500 0/ 0% 0/ 0% 0/ 0% 0/ 0% 0/ 0% 0/ 0%
Totals: 1352/100%104/100% 566/100% 634/100% 44/100% 4/100%
Of the 1,841 units located in multiple unit properties, 217 (12%) were
efficiency units, 757 (41%) were 1-bedroom units, 768 (42%) were
2-bedroom units, 93 (5%) were 3-bedroom units, and 6 (0%) were
4+-bedroom units. Rental information was given for 1,352 units for a
response rate of 73%. (This response rate is 6% higher than the 2000
response rate of 67% for multiple unit property rental information.)
The response rates for each of the units surveyed was 48% for
efficiency units, 75% for 1-bedroom units, 83% for 2-bedroom units, 47%
for 3-bedroom units, and 67% for the few 4+-bedroom units.
The rents for these units ranged from $114 - $925 a month with 89% of
the efficiency apartments and almost two-thirds (65%) of 1-bedroom
units in the $200 - $400 range. Slightly less than two-thirds (64%)
of 2-bedroom units and 75% of the 3-bedroom units rent in the $301 -
$500 range. Six of the remaining 11 3-bedroom units rent for $201 -
$300 a month. Three of the 4 4+-bedroom units for which data was
available rent for 3501 - $600 a month.
Table 9. provides a comparison by region of median rental costs for
various sizes of apartments located in multiple unit properties. The
letter "N" represents the number of rent figures that the median rent
value is based upon out of the total number of multiple unit apartments
surveyed. It is also noteworthy that some of the ~N's" are rather
small. There are three possible explanations for this phenomenon.
First, since the N represents the number of rent figures that the
median figure is based upon, respondents who declined to provide rent
figures decreased the total number of rent figures that the median
statistic is based upon. Second, as mentioned previously, since the
sampling procedure could not include consideration of different sizes
of apartments (based upon number of bedrooms), the sampling process may
have simply missed or not included a representative number of
properties with a certain number of bedrooms. Third, there may only be
a small number of rental units of a certain size in the area of the
city under consideration and that type of information was not available
for use in this survey.
12
Table 9. Median Rental Costs by Unit Type and Region
for 1,352 Units Located in Multiple Unit Properties
Region Efficiency ~ 2-bedroom 3-bedroom 4+-bedroom
1. South 0 $500 (N= 62/ 64) (N= 0/ 2) (N= O/ 2)
2. West $310(N=56/119) $450 (N=198/309) $475 (N= 315/423) $925 (N= t/42) $850(N=1/ 1)
3. North $250(N= 3/ 3) $312 (N= 66/ 81) $393 (N= 81/ 88) $470 (N= 9/14) $595(N=2/ 2)
4. Downtown$235(N=45/ 95) $295 (N=279/339) $350 (N= 176/193) $450 (N=34/35) $600(N=1/ 1)
5. Overall $295(N=104/217)$338 (N=566/757) $430 (N= 634/768) $500 (N=44/93) $598(N=4/ 6)
Of the 1,841 rental units located in multiple unit properties, rent
information was obtained for 1,352 (73%) of the various size
apartments. The response rate for multiple unit property rental
information was lowest (64%) in the western part of the city. The
highest response rate (89%) was obtained for the southern section of
city, but this area also has the smallest number of multiple property
units (96). Rental information was obtained for 86% of multiple unit
rental properties in the northern part of town and 81% of multiple unit
properties in the downtown section of the city. The response rates of
75% for 1-bedroom units and 83% for 2-bedroom units are notably higher
than the response rates of 48% for efficiency units, 47% for 3-bedroom
units, and 67% for 4+-bedroom units. These higher 1- and 2-bedroom
unit response rates provide rental information for 1200 of 1,352 (89%)
units for which rental information was provided.
Of these units for which rent information was provided, 8% were
efficiency units, 42% were 1-bedroom units, 47% were 2-bedroom units,
3% were 3-bedroom units, and less than 1% were 4+-bedroom apartments.
As previously noted, 89% of all the units for which rent information
was provided were 1- and 2-bedroom apartments. Rental information was
provided for only 48 of 99 3-and 4+-bedroom units surveyed. Thus, the
information for these units is very limited and probably not
representative of the rental market for these size units in multiple
unit properties. In addition, without knowing the number of each type
of bedroom unit in all areas of the city it is difficult to evaluate
the representativeness of any of the figures provided.
As indicated in the above table, the larger the size of the apartment,
the higher the median rent. The largest percentage increase in median
rent (27%) was an increase of $92 (from $338 to $430) from 1-bedroom to
2-bedroom apartments. The median rent for 3-bedroom units ($500) was
16% ($70) higher than the median rent for 2-bedroom units. The median
rent for 4+-bedroom apartments ($598) was 20% ($98) higher than the
median rent for 3-bedroom units ($500). However, as mentioned
previously, the median rents for 3- and 4+bedroom units are based upon
data from only 48 of 99 3- and 4+-bedroom units throughout the city.
In general, the highest rents for all sizes of apartments are on the
west side of the city. The exceptions to this pattern are the higher
rents for 1- and 2-bedroom apartments located on the south side of the
city. Rents for efficiency units in the northern and downtown areas of
the city were notably less than the overall median rents for these size
units while the lowest rents for 1-, 2-, and 3-bedroom units were found
in the downtown area. The downtown section also contained the largest
concentration of 1- and 3-bedroom apartments as well as the lowest
median rent for these units. The west side of the city had the largest
concentration of 2-bedroom apartments and the second highest median
rent for this size unit.
13
While thedowntown area had the lowest rent for 1-bedroom apartments,
the south side had the highest rent for this size of unit. The south
also had the highest rent for 2-bedroom units while the lowest rent for
2-bedroom units was again located in the downtown area. The west end
had the second highest rents for 2-bedroom units.
Median rent figures for 3-bedroom apartments are based upon data from
44 units. The highest 3-bedroom rent (based upon data from 1 of the 42
3-bedroom units) is paid on the west side and the lowest is paid in the
downtown area (based upon data for 34 of 35 3-bedroom units) of the
city. The overall median rent for the smell number of 4-bedroom units
(6) included in the sample was $598.
Graph 3. provides a comparison of 1996, 1997, 1998, 1999, 2000, and
2001 median rents by unit size for mnltiple unit properties located in
the south section of the city. The numbers in parentheses indicate the
number of apartments of the total number of apartments surveyed that
the rent figures are based upon.
1996-2001 Median Rents for Multiple Unit Properties
by Unit Type for the South Section of the City
Graph 3
One
(23/28)
(67/79)
(65/69)
Three Bedroom
Four+ Bedroom
I 12000
~ []1999
~ []1998
I 11997
I m1996
$100 $200 $300 $400 $500 $600 $700 $800
As indicated, compared to 2000, the 2001 median rent increased 110%
($415) for one-bedroom apartments located in the southern part of the
city and 2% ($12) for two-bedroom units. The dramatic increase in
the 1-bedroom median rent is the result of 10 of the 23 1-bedroom units
having a rental value of $790. While the median rental values of
1-bedroom units on the south side have been quite erratic for the last
4 years, the median rents for 2-bedroom units were quite similar for
1996 and 1997, then were dramatically higher in 1998 and 1999, and then
dropped in 2000 and 2001 to levels only slightly higher than the median
rent levels of 1996 and 1997. The median rents of 2-bedroo~ units on
the south side have been erratic in 2-year, rather than 1-year,
sequences.
Graph 4. provides a comparison of 1996, 1997, 1998, 1999, 2000, and
2001 median rents by unit size for multiple unit properties located in
the west section of the city. The numbers in parentheses indicate the
number of apartments of the total number of apartments surveyed that
the rent figures are based upon.
1996-2001 Median Rents for Multiple Unit Properties
by Unit Type for the West Section of the City
14
Graph 4
Efficienc~
One Bedroom
Two B~room
12001
12000
O1999
~1998
11997
11996
Three Bedroom
$925 (.1/42)
Four + Bedroom
$100 $200 $300 $400 $500 $600 $700 $800 $900
As indicated, the 2001 median rent for efficiencies increased 3% ($10)
from the 2000 median rent figure of $300. The 2001 median rent for
1-bedroom units increased 13% ($50) after remaining unchanged for 1999
and 2000 while the 2001 median rent for 2-bedroom units declined 5%
($25) during the past year. Three-bedroom apartments registered a
dramatic 50% ($307) increase in median rent from 2000 to 2001.
However, the median rental figure for 3-bedroom units is based upon
data from only 1 out of 42 units. The median rent for 1 4+-bedroom
apartment on the west side of the city was $850. Thus, west side rents
for efficiencies have experienced modest annual increases since 1999,
1-bedroom units increased 13% after remaining stable for 2 years, and
2-bedroom units were stable from 1996 to 1999 before increasing 11% in
2000 and then declining 5% in 2001.
15
It should be noted that the numbers of efficiencies and 1-bedroom units
providing rental information for the last 3 years are much larger than
the numbers of these units providing rental information for 1998. This
increases the likelihood that the median rent figures are true and
reliable indicators of rental costs for these years.
Graph 5. provides a comparison of the 1996, 1997, 1998, 1999, 2000, and
2001 median rents by unit size for multiple unit properties located in
the north section of the city. The numbers in parentheses indicate the
number of apartments of the total number of apartments surveyed that
the rent figures are based upon.
1996-2001 Median Rents for Multiple Unit Properties
by Unit Type for the North Section of the City
Graph 5
Effioien~
Two Bedroom
Three Bedroom
Four + Bedroom
$100 $200 $300 $400 $500 $600 $?00 SS00
As indicated, the 2001 median rent for efficiencies increased 25% ($50)
from the 2000 median rent figure of $200. This $250 median rent figure
is the s~aue as the median rent for 1998 and is based upon the same
smell number of units (3) as that year. While the median rent for
1-bedroom units also increased 20% ($52) from 2000 - 2001, median rents
declined 2% ($7) for 2-bedroom units and 6% ($30) for 3-bedroom units
during the past year. Since 1998 rents for 1-bedroomttnits on the
north end have notably increased while rents for 2-bedroom units have
remained stable during the past 3 years after increasing 23% from 1998
to 1999.
16
Graph 6. provides a comparison of 1996, 1997, 1998, 1999, 2000, and
2001 median rents by unit size for multiple unit properties located in
the downtown section of the city. The numbers in parentheses indicate
the number of apartments of the total number of apartments surveyed
that the rent figures are based upon.
Graph 6
1996-2001 Median Rents for Multiple Unit Properties
by Unit Type for the Downtown Section of the City
Efficiencuf
One Bedroom
Two Bedroom
Three Bedroom
Four +Bedroom
$100 $200 $300 $400 $500 $600 $700
AS indicated, the 2001 median rent for efficiencias increased 18% ($35)
from the 2000 median rent figure of $200. Median rents for 1- and
2-bedroom apartments in downtown Dubuque have remained very stable
during the past 4 years - $295 or $300 for 1-bedroom units and $350 for
2-bedroom apartments. During the past year the median rent for
3-bedroom units increased 6% ($25) while remaining the sa~r~ ($600) for
the 1 downtown 4+-bedroom unit included in this year's survey.
O~c./panc-fRates for Rental Properties SurveFed
The final section of the survey asked respondents to provide
information on occupancy rates for the various types of rental
properties. Respondents were asked to indicate the number of rental
units occupied on September 10, 2001 for each of the properties
included in the survey.
It should be noted that the data for occupancy rates in this report
refers to the non-subsidized rental market since there is no
information gathered from subsidized residential rental units.
According to information provided by the Dubuque Housing Services
17
Department, there are 7,485 rental units in the total residential
rental market in the City of Dubuque. Of this number of units, 1,593
(21%) are subsidized or college-owned and 5,892 (79%) are not and,
therefore, make up the private residential rental market.
It is probably reasonable to assu~e a much higher occupancy rate, e.g.,
99%, for the subsidized and college-owned units that have a ~captive"
market and are not subject to the usual rental market forces of non-
subsidized, non-college-owned rental units. Thus, at a 99% occupancy
rate, we can assume that 1,577 of these units are occupied at any
particular time. In terms of the non-subsidized, non-college-owned
market, if one assumes that the sample occupancy rate of 86% applies to
this entire market, 5,067 of the 5,892 units are occupied at any
particular point in time.
Combining the occupancy data for both of these markets creates an
overall higher occupancy rate for the entire residential rental market
of Dubuque. If we add the 1,577 subsidized, college-owned rental units
to the 5,067 non-subsidized, non-college-owned units, an occupancy rate
of 89% (6,644 out of 7,485) is created, a rate higher than the 86%
occupancy rate based upon data gathered for this rental report.
The overall occupancy rate for the survey group was 86%. Data from the
718 properties surveyed indicated that 2,130 of the 2,480 rental units
surveyed were occupied on September 10, 2001.
Single family units had an occupancy rate of 92%. Respondents
indicated that 167 of 182 single family dwellings included in the
survey were occupied on September 10, 2001.
The occupancy rate for duplex units was 87%. Respondents indicated
that 397 of 457 eligible duplex units included in the study were
occupied on September 10, 2001.
Table 11. provides a distribution of occupancy rates for single family
dwellings and duplexes for each region of the city. The UN" in
parentheses indicates the nua~er of rental units that the percentage
figure is based upon out of the total number of units included in the
survey.
Table 11. Occupancy Rates for Single Family Dwellings
and Duplexes by Region of the City
Region Single Family Dwellings
t. South 100% (N= 16/ 16)
2. West 92% (N= 47/ 51)
3. North 88% (N= 50/ 57)
4. Downtown 93% (N= 54/ 58)
5. Overall 92% (N=167/182)
Duplexes
85% (N= 17/ 20)
96% (N= 71/ 74)
84% (N=138/164
86% (N=171/199
87% (N=397/457
As indicated in the above table, single family occupancy rates for the
southern (100%) and downtown areas (93%) of Dubuque are higher than the
overall occupancy level for single f~ty dwellings. The occupancy
rate for the north end of Dubuque (88%) is 4% lower than the overall
rate of 92% while the occupancy rate for single family dwellings on the
west side is equivalent to the overall occupancy rate of 92%. The
duplex Occupancy rate of 96% on the west side is 9% higher than the
overall rate while occupancy rates for the remaining 3 sections of the
city are slightly lower than the overall occupancy level of 87%.
18
Graph 7. provides a comparison Of 1996, 1997, 1998, 1999, 2000, and
2001 occupancy rates for single family dwellings by section of the
city. The "N" in parentheses indicates the D,~mher of units that the
occupancy rates are based upon.
1996-2001 Occupancy Rates for Single Family Dwellings
by Region of the City
Graph 7
10o% (~=16)
100%
loo% (~=14)
North
(~=48)
(~=42)
(N=-54)
Downtown
As indicated, the 2001 occupancy rates for single family dwellings,
compared to the 2000 occupancy rates, remained the same in the south,
declined on the west and north sides, and increased by 3% in the
downtown region of the city. There have been consistent yearly
increases of 2% - 3% in occupancy levels among single f~m{ly dwellings
in the downtown area since 1998 while occupancy rates on the west side
have declined 6% over the same time period after reaching a high of 98%
in 1998 and 1999. The north end decline in occupancy from 2000 to
2001 (98% to 88%) represents a drop to the occupancy level obtained in
the 1997 rental survey, which is also the lowest occupancy rate ever
recorded for north end single family dwellings. In addition, occupancy
rates for single f~m41y dwellings on the south side of town show the
most erratic pattern, probably as a result of the small number of
properties surveyed.
19
In terms of duplexes, the north, south, and downtown sections of
Dubuque have occupancy rates that are slightly lower than the overall
figure of 87%. The western region of the city has a duplex occupancy
rate (96%) that is 9% higher than the overall duplex occupancy level of
87%.
With the exception of the west end, duplex occupancy rates are lower
than single family occupancy levels. The overall single family
occupancy rate of 92% is 5% higher than the 87% duplex occupancy level
and may be a reflection of greater desirability for single family
dwellings compared to duplexes in most areas of the city. The fact
that the north end has the lowest occupancy levels for both single
~family (88%) and duplex (84%) units may be a reflection of the
condition of these types of housing on the north end or the
desirability of living in this area or a combination of both variables.
Graph 8. provides a comparison of 1996, 1997, 1998, 1999, 2000, and
2001 occupancy rates for duplex units by section of the city. The ~N"
in parentheses indicates the number of units that the occupancy rates
are based upon.
Graph 8
South
West
North
1996-2001 Occupancy Rates for Duplex Units
by Region of the City
As indicated, the 2001 occupancy rates for duplexes in all areas of the
city were lower than the 2000 occupancy levels. The duplex occupancy
rate for the south side of town declined from 95% in 2000 to 85% in
2001. The 85% occupancy level also represents a 15% drop in occupancy
since 1999. However, these figures are based upon small numbers of
units. The north end duplex occupancy level declined 4% from 2000 to
20
2001 and matched its lowest ever occupancy rate of 84% in 1997. The
downtown occupancy level also decreased 2% between 2000 and 2001. The
west side, which has consistently had the highest duplex occupancy
rates during the past 6 years, also experienced a 3% drop in its
occupancy level. Occupancy rates on the north and south sides have had
more erratic patterns since 1996 while the downtown area has had
relatively stable occupancy rates during the same time period.
The overall occupancy rate for rental units located in multiple unit
properties was 85%. Respondents indicated that 1,566 of the 1,841
apartments included in the study were occupied on September 10, 2001.
The occupancy rate for efficiency units located in multiple unit
properties was 74%. Respondents indicated that 160 of the 217
efficiency apartments included in the study were occupied on September
10, 2001.
The occupancy rate for 1-bedroom apartments was 85%. Respondents
indicated that 641 of the 757 1-bedroom apartments included in the
study were occupied on September 10, 2001.
The occupancy rate for 2-bedroom apartments was 89%. Respondents
indicated that 680 of the 768 2-bedroom apartments included in the
study were occupied on September 10, 2001.
The occupancy rate for 3-bedroom apartments was 85%. Respondents
indicated that 79 of the 93 3-bedroom apartments included in the study
were occupied on September 10, 2001.
The occupancy rate for 4+-bedroom apartments was 100%. Respondents
indicated that 6 of the 6 4+-bedroom apartments included in the study
were occupied on September 10, 2001.
Table 12. provides a distribution by region of occupancy rates for
various sizes of apartments located in multiple unit properties. The
letter "N" represents the number of units that the percentage figures
are based upon out of the total nuafoer of units included in the survey.
Table 12. Occupancy Rates by Unit Type and Region
for 1,841 Units Located in Multiple Unit Properties
Region Efficiency 1-bedroom
1. South 0 93%(N= 26/28)
2. West 82%(N= 98/119) 90%(N=279/309)
3. North 67%(N= 2/ 3) 73%(N= 59/ 81)
4. Downtown 63%(N= 60/ 95) 82%(N=277/339)
5. Overall 74%(N=160/217) 85%(N=641/757)
2-bedroom 3-bedroom 4+-bedroom
95%(N=61/ 64) 50%(N= 1/ 2) 100%(N= 2/ 2)
88%(N=374/423) 93%(N= 39/ 42) 100%(N= 1/ 1)
90%(N= 79/ 88) 86%(N= 12/ 14) 100%(N= 2/ 2)
86%(N=166/193) 77%(N= 27/ 35) t00%(N= i/ I)
89%(N=680/768) 85%(N= 79/ 93) 100%(N= 6/ 6)
As indicated above, 1- and 2-bedroom units make up 83% of the rental
units surveyed in multiple unit properties. While the overall
occupancy rate for efficiency apartments was 74%, and excluding the 6
4+-bedroom units from consideration, the overall occupancy rates for
the remaining sizes of apartments ranged from 85% - 89%. The occupancy
levels for efficiencies were highest on the west side (82%) and lowest
in the downtown area (63%). The south and west sections had the
highest occupancy rates for 1-bedroom apartments (93% and 90%
respectively) and the north side had the lowest occupancy level (73%)
for this type of unit. In terms of 2-bedroom units, the south and
north areas had the highest occupancy rates, 95% and 90% respectively,
but also the smallest number of units. The 2-bedroom occupancy rates
for both the west (88%) and downtown areas (86%) were slightly below
21
the overall 2-bedroom occupancy level of 89%. The west side had the
highest occupancy rate (93%) for B-bedroom units and, excluding the 1
out of 2 3-bedroom units occupied on the south side, the downtown area
had the lowest level of occupancy (77%) for this type of apartment.
While the occupancy rate for 4+-bedroom units was 100% in all 4
sections of the city, the survey contained data for only 6 of these
apartments.
Graph 9. provides a comparison of 1996, 1997, 1998, 1999, 2000, and
2001 occupancy rates by unit type for multiple unit properties located
in the south section of the city. The "N" in parentheses indicates the
number of units that the occupancy rates are based upon.
1996-2001 Occupancy Rates for Multiple Unit Properties
by Unit Type for the South Section of the City
Graph 9
Effioienq
Two Bedroom
lOO%
¢N=~1)
(~-~?)
lOO% (N=4)
100% (N=i)
(N=2)
10o%
Four + Bedroom
AS indicated, occupancy data was available for only 1 3-bedroom and 2
4+-bedroom units on the south side of the city. The occupancy rate
decreased 7% for 1-bedroomunits while increasing 3% for 2-bedroom
units from 2000 to 2001. In addition, is it noteworthy that the
occupancy rates for 2-bedroom apartments on the south side have
steadily increased every year since 1997. On the other hand, occupancy
levels for 1-bedroom units have been quite erratic since 1996.
However, this may be a reflection of the small number of 1-bedroom
units contained in the survey.
22
Graph 10. provides a co~arison of 1996, t997, 1998, 1999, 2000, and
2001 occupancy rates ~ unit t~e for ~ltiple ~it properties located
in the west section of the city. The "N" in parentheses indicates the
number of units that the occupancy rates are based upon.
1996-2001 Occupancy ~tes for Multiple Unit Pr~erties
by Unit T~e for the West Section of the City
Graph 10 ~2000
O1999
O1998
m1997
W1996
Efficien~
100%
One Bedroom
(N=230)
Two Bedroom
Four + Bedroom
(N=335)
(N=259)
(N=159)
98%
96%
100%
100%
100% (N~lO)
100%
100% (N=I)
Am indicated, the efficiency and 2-bedroom unit occupancy rates, 82%
and 88% respectively, remained the same between 2000 and 2001 while the
OCCupancy rates for 1- (90%) and 3-bedroom units (93%) each decreased
5% between last year and this year. While west end occupancy rates for
1- and 2-bedroom apartments have been fairly stable since 1997,
occupancy rates for 3-bedroom units have been more erratic but also a
bit higher than the occupancy levels of other units. The 100%
occupancy rate for 4+-bedroom units is a reflection of only surveying 1
of these units on the west side of the city.
23
Graph 11. provides a comparison of 1996, 1997, 1998, 1999, 2000, and
2001 occupancy rates by unit type for multiple unit properties located
in the north section of the city. The "N" in parentheses indicates the
number of units that the occupancy rates are based upon.
1996-2001 Occupancy Rates for Multiple Unit Properties
by Unit Type for the North Section of the City
Graph 11
Efficien~
100%
One Bedroom
Three Bedroom
Four + Bedroom
(~-4S)
100% (~=10)
100%
100%
AS indicated, the efficiency unit occupancy rate decreased by a third,
from 100% in 2000 to 67% in 2001. However, throughout the years of the
rental survey, all the occupancy figures for efficiencies on the north
end have been based upon very small numbers of units. The occupancy
rate also decreased 25% for 1-bedroomunits, 3% for 2-bedroom units,
and 14% for 3-bedroom units on the north side of town from 2000 to
2001. The 2 4+-bedroom units included in the survey were both
occupied. Overall, 1-bedroom units on the north end have experienced a
dramatic decline in occupancy after several years of increases between
1998 - 2000. The 2-bedroom occupancy rats has been 90% or higher every
year of the survey except for the drop to 85% in 1999.
24
Graph 12. provides a comparison of 1996, 1997, 1998, 1999, 2000, and
2001 occupancy rates by unit type for multiple unit properties located
in the downtown section of the city. The "N" in parentheses indicates
the nu/~ber of units that the occupancy rates are based upon.
1996-2001 Occupancy Rates for Multiple Unit Properties
by Unit Type for the Downtown Section of the City
Graph 12
Im2001
I~000
O1999
m1998
11997
~1996
Effioien~
One Bedroom
Two Bedroom
Three Bedroom
Four + Bedroom
lo0%
(N=2)
Similar to the experience of north end multiple unit properties, the
occupancy rates of all types of units in the downtown area, except the
1 4+-bedroomapartment, declined from 2000 to 2001. Occupancy rates
decreased 18% for efficiencies, 6% for 1-bedroom units, 7% for
2-bedroom units, and 9% for 3-bedroom units. While occupancy rates for
efficiencies and 3-bedroom units have been quite erratic since 1996,
the occupancy rates for 1- and 2-bedroom units have been much more
stable during the same time period. Occupancy levels for 1-bedroom
apartments have ranged from 82% to 89% and 2-bedroom units have had the
same range of occupancy levels, in addition to a 93% occupancy rate in
2000. Yet, the pattern for both 1- and 2-bedroom units has been that
of increased occupancy l~vels from 1998 to 2000 and then a 6% - 7%
decline in occupancy during 2001. On the other hand, occupancy levels
for 3-bedroom units have declined from 88% in 1999 to 77% in 2001, a
decrease of 11%. The 2000 and 2001 occupancy rates of 100% for
4+-bedroom units are based upon data for 2 units in 2000 and t unit in
2001.
25
Summary Points
A nurmber of summary points can be drawn from the data presented in this
report:
t. The largest concentration of residential rental property in the
City of Dubuque is located in the downtown and northern areas of
the city, especially duplexes. Multiple unit properties are also
concentrated in the downtown area and the north end has more single
family dwellings for rent than any other area of the city. The
west end of Dubuque has more duplex rental units than single family
rental dwellings or multiple unit properties. Relatively few
rental properties are located in the southern part of the city.
2. Among the properties sampled, the vast majority of multiple unit
properties had 1- and 2-bedroom units while the vast majority of
duplexes and single family dwellings were 2- and 3-bedroom units.
3. ' The median monthly rent for all single family dwellings was $500, a
$2 increase in the 2000 median rent of $498. One-bedroom single
family dwellings had a median rent of $350; 2-bedroom units had a
median rent of $475; 3-bedroom units had a median rent of $563; and
4+-bedroom units had a median rent of $443.
The 2001 median rents were higher than 2000 median rents for single
family dwellings in the northern and downtown areas of the city but
lower on the southern and western sides of Dubuque. The largest
increase in median rent was the 6% ($25) increase for single family
dwellings on the north side while the median rent increased 3%
($15) in the downtown area of the city. The median rent for single
family units declined 5% ($32) on the west side and 1% ($7) in the
south. However, despite these declines, median rents for single
family units on the south and west sides of the city remain notably
higher than single family median rents on the north side and in the
downtown area.
The median rent for all duplexes was $390, a 3% increase ($13) in
the 2000 median figure of $377.00 One-bedroom duplex units had a
median rent of $300; 2-bedroom units had a median rent of $385;
3-bedroom units had a median rent of $450; and 4+-bedroom units had
a median rent of $350.
The 2001 median duplex rent remained unchanged from the 2000 figure
of $425 for the west side of the city. From 2000 - 2001, the
median rent for duplexes increased 6% ($22) on the north end and 8%
($37) on the south side, while decreasing 6% ($25) in the downtown~
region. Similar to the rental market for single family units,
higher duple median rents are found on the west and south sides of
the city compared to the north end and downtown area.
The median monthly rent for efficiencies was $295, a 2% .($5)
decline from 2000 while the median rent for 1-bedroom apartments
was $338, representing a 13% ($38) increase compared to last year.
The 2-bedroom median rent of $430 is the same as last year as is
the $500 median rent figure for 3-bedroom units in multiple unit
properties. The median rent of $598 for 4+-bedroom units
represents a 14% ($73) increase in the 2000 median figure.
26
8. The 2001 median rent for one-bedroom apartments ($790) located in
the southern part of the city increased 110% ($415) from the 2000
median rent for one-bedroom apartments while the 2001 median rent
for two-bedroom units ($500)increased 2% ($12) from the 2000 median
rent figure. The dramatic increase in the 1-bedroom median rent is
the result of 10 of the 23 1-bedroom units having a rental value of
$790.
9. The 2001 median rent for efficiencies located on the west side
increased 3% ($10) from the 2000 median rent figure of $300. The
2001 median rent for one-bedroom units ($450) increased 13% ($50)
last year while 2-bedroom units declined 5% ($25) and 3-bedroom
units increased a dramatic 50% ($307). However, the median rental
figure ($925) for 3-bedroom units is based upon data from only 1 out
of 42 units. The median rent for 1 4+-bedroom ~partment on the west
side of the city was $850 and based upon information from only 1
units. Thus, west side rents for multiple unit property
efficiencies have increased modestly over the past 3 years while
1-bedroom units registered a notable increase during the past
year after 2 years of stable median rent figures. Two-bedroom units
declined 5% after experiencing an 11% increase from 1999 - 2000.
10~ The 2001 median rent for efficiencies on the north side of the city
($250) increased 25% ($50) from the 2000 median rent figure of
$200. This $250 median rent figure is the same as the median rent
for 1998 but is based upon a very small number of units for each
year (3). While the median rent for 1-bedroom units ($312) also
increased 20% ($52) from 2000 - 2001, median rents declined 2% ($7)
for 2-bedroom units ($393) and 6% ($30) for 3-bedroom units ($470)
during the past year. Since 1998 rents for 1-bedroom units'on the
north end have notably increased while rents for 2-bedroom units
have remained stable during the past 3 years after increasing 23%
from 1998 to 1999.
11. The 2001 median rent for efficiencies ($235) in the downtown area
increased 18% ($35) from the 2000 median rent figure of $200.
Median rents for 1- and 2-bedroom apartments in downtown Dubuque '
have remained very stable during the past 4 years - $295 or
$300 for 1-bedroom units and $350 for 2-bedroom apartments.
During the past year the median rent for 3-bedroom units
($450) increased 6% ($25) while remaining the same ($600) for the t
downtown 4+-bedroom unit included in this year's survey. Thus,
rents for efficiencies have increased steadily during the past 3
years while rents for 1- and 2-bedroom units have virtually
remained unchanged for the past 4 years.
12. The overall occupancy rate for the survey group was 86%. Single
family dwellings had an occupancy rate of 92% while 87% of duplexes
and 85% of apartments in multiple unit properties were occupied on
September 10, 2001. The highest occupancy rates for single family
dwellings were found on the south (100%), in the downtown area
(93%), and the west side of the city (92%) while the lowest
occupancy rate for single family dwellings was found on the
north end (88%). The highest occupancy rates for duplexes were
found in the west (96%) with notably lower duplex occupancy levels
found in the south (85%), north (84%), and downtown (86%) regions.
Similar to the occupancy rates for single family dwellings, the
lowest duplex occupancy rate (84%) was recorded on the north end.
27
13o The 2001 occupancy rates for single family 'dwellings, compared to
the 2000 occupancy rates, remained the same in the south, declined
on the west and north sides, and increased 3% in the downtown
region. There have been consistent yearly increases of 2% - 3% in
occupancy levels among single family dwellings in the downtown area
since 1998 while occupancy rates on the west side have declined 6%
over the same time period after reaching a high of 98% in 1998 and
1999. The north end decline in occupancy from 2000 to 2001 (98% to
88%) represents a drop to the occupancy level recorded in the 1997
rental survey, which is also the lowest occupancy rate ever
recorded for north end single family dwellings. In addition,
occupancy rates for single family dwellings on the south side of
town show the most erratic pattern, probably as a result of the
small number of properties surveyed.
14.
In terms of duplexes, the 2001 occupancy rates in all areas of the
city were lower than the 2000 occupancy levels and, with the
exception of the west end, duplex occupancy rates were lower
than single family occupancy levels. The overall single family
occupancy rate of 92% is 5% higher than the 87% duplex occupancy
level and may be a reflection of greater desirability for single
family dwellings compared to duplexes in most areas of the city.
The fact that the north end has the lowest occupancy levels for
both single family (88%) and duplex (84%) units may be a reflection
of the condition of these types of housing on the north end or the
desirability of living in this area or a combination of both of
these variables.
15. The overall occupancy rate for rental units located in multiple
unit properties was 85%. The occupancy rate for efficiency units
located in multiple unit properties was 74%. The occupancy rate
for 1-bedroom apartments was 85%. The occupancy rate for 2-bedroom
apartments was 89%. The occupancy rate for 3-bedroom apartments
was 85%. The occupancy rate for 4+-bedroom apartments was 100%.
Respondents indicated that 6 of the 6 4+-bedroom apartments
included in the study were occupied on September 10, 2001.
16. One and 2-bedroom units make up 83% of the rental units surveyed in
multiple unit properties. While the overall occupancy rate for
efficiency apartments was 74%, and excluding the 6 4+-bedroom units
from consideration, the overall occupancy rates for the remaining
sizes of apartments ranged from 85% - 89%. The occupancy levels
for efficiencies were highest on the west side (82%) and lowest in
the downtown area (63%). The south and west sections had the
highest occupancy rates for 1-bedroom apartments (93% and 90%
respectively) and the north end had the lowest occupancy level
(73%) for this type of unit. In terms of 2-bedroom units, the
south and north had the highest occupancy rates, 95% and 90%
respectively, but also the smallest number of units. The
2-bedroom occupancy rates for both the west (88%) and downtown
areas (86%) were slightly below the overall 2-bedroom occupancy
level of 89%. The west side had the highest occupancy rate (93%)
for 3-bedroom units and, excluding the 1 out of 2 3-bedroom units
occupied on the south side, the downtown area had the lowest level
of occupancy (77%) for this type of apartment. While the occupancy
rate for 4+-bedroom units was 100% in all 4 sections of the city,
the survey contained data for only 6 of these units.
28
17. Occupancy data was available for only 2 4+-bedroom and 1 3-bedroom
units on the south side of the city. The occupancy rate decreased
7% for 1-bedroom units while increasing 3% for 2-bedroom units
from 200 to 2001. It is noteworthy that the occupancy rates for
2-bedroom apartments on the south side of the city have increased
steadily since 1997. On the other hand, occupancy levels for
1-bedroom units have been quite erratic since 1996. However, this
may be a reflection of the small number of 1-bedroom units
contained in the survey.
West end efficiency and 2-bedroom unit occupancy rates, 82% and 88%
respectively, remained the same between 2000 and 2001 while
occupancy rates for 1- (90%) and 3-bedroom (93%) each decreased 5%
between last year and this year. While west end occupancy rates
for 1- and 2-bedroom apartments have been fairly stable since 1997,
occupancy rates for 3-bedroom units have been more erratic but also
a bit higher than the occupancy levels of other units. The 100%
occupancy rate for 4+-bedroom units is a reflection of only
surveying 1 of these units on the west side of the city.
The efficiency unit occupancy rate on the north side decreased
by a third, from 100% in 2000 to 67% in 2001. However, throughout
the years of the rental survey, all the occupancy figures for
efficiencies on the north end have been based upon very small
numbers of units. The occupancy rate also decreased 25% for
1-bedroom units, 3% for 2-bedroom units, and 14% for 3-bedroom
units on the north side of town from 2000 to 2001. The 2
4+-bedroom units included in the survey were both occupied.
Overall, 1-bedroom units on the north end have experienced a
dramatic decline in occupancy after several years of increases
between 1998 - 2000. The 2-bedroom occupancy rate has been 90% or
higher every year of the survey except for the drop to 85% in 1999.
Similar to the experience of north end multiple unit properties,
the occupancy rates of all types of units in the downtown area,
except the 1 4+-bedroom apartment, declined from 2000 to 2001.
Occupancy rates decreased 18% for efficiencies, 6% for 1-bedroom
units, 7% for 2-beclroom units, and 9% for 3-bedroom units. While
occupancy rates for efficiencies and 3-bedroom units have been
quite erratic since 1996, the occupancy rates for 1- 2-bedroom
units have been much more stable during the same time period.
Occupancy levels for 1-bedroom apartments have ranged from 82% to
89% and 2-bedroom units have had the same range of occupancy
levels, in addition to a 93% occupancy rate in 2000. Yet, the
pattern for both 1- and 2-bedroom downtown units has been that of
increased occupancy levels from 1998 to 2000 and then a 6% - 7%
decline in occupancy during 2001. On the other hand, occupancy
levels for 3-bedroom units have declined from 88% in 1999 to 77% in
2001, a decrease of 11%. The 2000 and 2001 occupancy rates of 100%
for 4+-bedroom units are based upon data for 2 units in 2000 and 1
unit in 2001.
29
Conclusions
Mail survey data, added to the information obtained by means of
telephone interviews, continues to enhance the annual report of
residential rental properties in the city of Dubuque. The 2001
population of market rental properties increased slightly from
2,136 in 2000 to 2,150 for this year's survey. In addition, the
number of properties included in the 2001 report (718) was 40 more
than the number of properties included in the 2000 report (678).
The property response rate for the mail survey in 2001 (63%) was
13% higher than the 50% property response rate obtained in 2000.
Thus, the 500 telephone surveys were supplemented with information
about 218 properties in 2001 compared to 175 properties in 2000.
When properties included in the mail survey are added to those in
the phone survey, the makeup of the total survey group is quite
similar to the makeup of the phone survey samptg. The percentages
for each category of housing type in each area of the city of the
total survgy group does not vary more than + 4% from the
distribution in the phone survey sample (which is representative of
the total phone survey population).
The higher property response rate for the mail survey in 2001,
yielded a larger total number of rental units than last year. The
2001 rental survey is based upon information obtained for 2,480
separate rental units located in single family dwellings, duplexes,
and multiple unit properties. The 2000 rental survey was based
upon information obtained from 2,119 separate rental units. This
represents information based upon 361 more rental units than last
year and increases in the nu/aber of each type of housing unit
surveyed - 14 more single family units, 19 more duplex units, and
328 more units in multiple unit properties. The 2,480 units of the
2001 rental report is the highest number of rental units surveyed
since the annual survey of residential properties was initiated in
1996. Thus, the mail survey data represents a significant segment
of the local residential rental market and provides information on
rental units that were not selected into the random sample of
properties surveyed by means of telephone interviews. As a result,
the 2001 residential rental property report contains a
comprehensive assessment of the current market situation and
provides comparative data for findings from the 1996, 1997, 1998,
1999, and 2000 reports.
The 2001 median rents were higher than the 2000 median rents for
single family dwellings in the northern and downtown areas of the
city. The largest increase in median rent was the 6% ($25)
increase for single family dwellings on the north end. Similar to
the median rent increase from 1999 to 2000, the downtown single
family median rent increased a modest 3% ($15) from 2000 to 2001.
From 1996 to 2000, the median rents for single family dwellings
have increased very consistently on the west side of the city
before experiencing a 5% ($32) decline from 2000 to 2001. A
somewhat similar pattern has occurred on the south side also;
before experiencing a 1% ($7) decline in median rent during the
last year. In general, single family median rents are not only
higher but have increased more notably on the west and south sides
of Dubuque compared with the north and downtown regions of the
city. However, the rent figures for the southern area are based
upon information from small numbers of properties. These trends in
30
rental figures coincide with a fairly stable 98% - 96% occupancy
rate from 1998 - 2000 for single family units on the west side and
a 4% drop in occupancy for single family dwellings on the west side
in 2001. While single family dwellings maintained 100% occupancy
on the south side from 2000 to 2001, these numbers are based upon
small numbers of housing units. At the same time that median rents
increased 6% ($25) on the north end from 2000 to 2001, occupancy
rates for these single family dwellings have dropped from 98% to
88% in the last year after remaining at the 90%-plus level since
1998. Occupancy rates for single family dwellings in the downtown
area have increased gradually from 86% in 1998 to 93% in 2001 while
median rents have shown a parallel incremental increase from $450
in 1998 to $490 in 2001.
Median duplex rents on the west side of the city remained unchanged
from 2000 - 2001 while increasing in the northern and southern
sections of the city and decreasing in the downtown area. From
2000 - 2001, the median rents for duplexes increased 8% ($37) in
the south and 6% ($22) in the north while declining 6% ($25) in the
downtown region. Similar to the rental market for single family
units, higher median rents were found on the west and south sides
of the city. However, duplex rents have gradually increased on the
north side since 1996 and increased dramatically in the downtown
area in 1999. Downtown duplex rents were stable from 1999 to 2000
before notably declining during 2001. The 2001 occupancy rates for
duplexes in all areas of the city were lower than the 2000
occupancy levels - declining from 95% to 85% on the south side,
from 88% to 84% on the north end, from 99% to 96% in the western
area, and from 88% to 86% in the downtown region. In addition,
while median rents for south end duplexes have increased
consistently since 1999, occupancy levels have also consistently
declined during the same time period. A similar pattern of
increased median duplex rents and lower duplex occupancy levels
since 1999 can also be observed on the north side of the city. On
the other hand, downtown and west end median duplex rents and
occupancy levels have been relatively stable during the same time
period. It is also noteworthy that from 1996 - 2001, duplex
occupancy rates on the west side have remained consistently high
(96% - 100%) and have been higher than other areas of the city.
Occupancy rates on the north and south sides have had more erratic
patterns since 1996 while the downtown area has had relatively
stable, but lower, occupancy rates (83% - 88%) during the same time
period.
The median rents for larger apartments were higher than the median
rents for smaller apartments. Among those units in multiple unit
properties for which rental information was provided, 42% were
1-bedroom apartments and another 47% were 2-bedroom units. The
largest percentage increase in median rent (27%) was an increase of
$92 (from $338 to $430) from 1-bedroom to 2-bedroom apartments.
The median rent for 3-bedroom units ($500) was 16% ($70) higher
than the median rent for 2-bedroom units. The median rent for
4+-bedroom apartments ($598) was 20% ($98) higher than the median
rent for 3-bedroom units ($500). However, the median rents for
3- and 4+-bedroom units were based upon data from only 48 of 99
3- and 4+-bedroom units throughout the city.
31
From 2000 to 2001, the median rents for efficiency apartments
increased in all areas of the city - 3% ($10) in the west, 18%
($35) in the downtown region, and 18% ($35) in the downtown area.
No efficiency apartment rental information was provided for the
southern section of Dubuque.
From 2000 to 2001, the median rent for 1-bedroom apartments
increased in all areas of the city, except the downtown area where
the 1-bedroom median rent declined 2% ($5). From 2000 to 2001
median rents for 1-bedroom units increased 110% ($415) on the south
side, 20% ($52) on the north end, and 13% ($50) on the west side.
From 2000 to 2001, the median rent for 2-bedroom apartments
remained at $350 in the downtown area, declined 2% ($7) on
north end and 5% ($25) on the west side, and increased 2% ($12) on
the south side of town.
Thus, from 2000 to 2001, rents for multiple unit efficiencies
increased in all 3 areas of the city for which efficiency rental
information was obtained. In addition, median rents for multiple
unit 1-bedroom units increased in all regions except the downtown
area during the last year. In addition, rents for multiple unit
2-bedroom apartments have been relatively stable for the past 3
years in all areas of the city except the south where they
remained quite erratic during the past 6 years.
From 2000 to 2001, the median rents for multiple units 3-bedroom
Apartments decreased 6% ($30) on the north side while increasing 6%
($25) in the downtown area and 50% ($307) on the west side of the
city. The median rent for a 3-bedroom apartment on the south side
was $615 in 2000 and there was no comparison data from 2001.
From 2000 to 2001, the median rent for multiple unit 4+-bedroom
units remained the same ($600) in the downtown area 6% and was
$595 on the north end of the city with no comparison data for
2000. One multiple unit 4+-bedroom unit on the west side of
town had a 2001 median rent of $850 compared to 1 4+-bedroom unit
with a median rent of $450 in 2000. No rental information for
4+-bedroom units was provided for the south side of Dubuque.
From 2000 to 2001, the occupancy rate for efficiency apartments
remained the same (82%) on the west end and declined 18% (81% to
63%) in the downtown area, and decreased by a third (100% to 67%)
on the north end of town. These declines in 2001 represent a
continuation of the erratic pattern of efficiency apartment
occupancy levels on the north end and in the downtown section of
the city. No occupancy information for efficiencies on the south
side of the city has been collected during any of the 6 rental
surveys.
From 2000 to 2001, the occupancy rates for 1-bedroom apartments
declined in all sections of the city: 25% (98% to 73%) on the
north end, 7% (100% to 93%) on the south side, 5% (95% to 90%) on
the west end, and 6% (88% to 82%) in the downtown area. The
declines in 1-bedroom occupancy levels on the north and south sides
of the city represent a continuation of the erratic pattern of
occupancy rates in this type of unit during the past 6 years. The
declines in 1-bedroom occupancy levels on the west side and in the
downtown area represent much more stable patterns of occupancy for
32
this type of unit with only 1% to 6% fluctuations from year to year
during the past 6 years.
From 2000 to 2001, the occupancy rate for 2-bedroom apartments
remained at 88% on the west side, increased 3% (92% to 95%) on the
south end, and decreased 3% (93% to 90%) on the north end and 7%
(93% to 86%) in the downtown region. The small increase in
2-bedroom occupancy on the south side continues a pattern of
gradual yearly increases in occupancy levels since 1997 for this
type of unit (from 81% to 95%). The 7% decrease in the 2-bedroom
occupancy level in the downtown area represents a decline after 4
years of consistent increases in the occupancy levels for this type
of apartment in this section of the city. The 3% decline in the
2-bedroom occupancy rate on the north end reflects an ongoing
erratic pattern of occupancy levels for this type of unit since
1998.
From 2000 to 2001, the occupancy rates for 3-bedroom apartments
decreased in all sections of the city - 100% to 50% in the south,
98% to 93% on the west side, 100% to 86% on the north end, and 86%
to 77% in the downtown region. W1/ile occupancy rates for 3-bedroom
apartments in the south and north are based upon small nuambers of
units, the 93% occupancy on the west end represents a notable
decline from last year's very high rate of 98% and the 9% decrease
downtown reflects the third year of declining occupancy levels for
this type of unit in this part of town.