Same Store NOI Growth Calculator

SS NOI growth measures organic performance. This calculator computes.

Prior year NOI

Current year NOI

Revenue growth %

Expense growth %

SS NOI growth %

6.67%

SS NOI $ growth

$280,000

Implied margin shift

-1.50%

How the math works

SS NOI growth = (current − prior) / prior. Margin shift = revenue growth − expense growth.

6.7% SS NOI growth signals healthy portfolio. Above 5% typical in strong market. Below 2% suggests expense pressure or rent stagnation. Negative: portfolio deteriorating — requires action.

How to Use

Enter prior year NOI.
Enter current year NOI.
Enter revenue growth %.
Enter expense growth %.
Read SS NOI growth.

Frequently Asked Questions

Why same-store?

Acquisitions and dispositions distort period-over-period comparison. Same-store excludes. Measures true operational performance. REIT earnings emphasize same-store metrics; private owners track for internal performance.

Definition?

Typically: assets owned entire comparable period (Y and Y-1). Excludes: new acquisitions (incomplete periods), dispositions, major redevelopments (not comparable). Held-period minimum varies by reporter (12-24 months).

Drivers?

Revenue: occupancy (stable), rent growth (positive typically), fees/other income. Expense: property tax, insurance, utilities, payroll. NOI growth = revenue growth × (1 − expense ratio) − expense growth × expense ratio. 200-400 bps expense growth typical vs 300-600 bps revenue.

How often should I rerun this?

Rerun this calculator whenever inputs change materially — new rent roll data, rate moves, loan balance updates, or quarterly operating data. For active deals, monthly refresh is typical. For stabilized assets under monitoring, quarterly is fine. Treat the output as a decision tool, not a one-time answer — market conditions evolve and so should your analysis.