| The demand
for new rental housing has been calculated based on a
25-year simulation from 1990 to 2015. For each year in
between the decennial census, the number of renter
occupied units by age group has been calculated, the
annual turnover rate has been computed, and the
incremental change in demand has been derived based on
household growth and replacement requirements. Over
time, a balanced rental market requires new construction
levels to correspond closely to the change in
incremental demand. |
YOUR Primary Market Area
As of any date through 2015
|
GROSS RENT IN
CURRENT DOLLARS |
Annual
Incremental Demand |
|
0 & 1 Bdrm. |
2 Bdrm. |
3+Bdrm. |
| $400+ |
48 |
- |
- |
| $500+ |
32 |
113 |
- |
| $600+ |
17 |
63 |
57 |
| $700+ |
6 |
25 |
40 |
| $800+ |
- |
5 |
31 |
| $900+ |
- |
- |
17 |
| $1000+ |
- |
- |
7 |
Source: Estimated by
URBEK®.
Note: Rental demand
includes all structure types.
|
