Question

For an apartment complex, the association collects $158,000 from all of its 211 residents. What is the average rent per capita for this apartment complex?

Answer 1

$748.42

Explanation:

The average rent per capita is used to measure the average rent paid by a group of people in an apartment or an area. The rent per capita estimates the average rent charged for each resident. It is ratio of the total rent paid by the people in the area to the number of residents. Hence:

The average rent per capita = Total rent / number of residents = $158000 / 211 residents = $748.42