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.


 

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