URBEK Summary Demand for Housing by Income and Rent

Independent / Congregate Living

Note: Demand estimates can be added across the table, but not down (See Penetration rate tables). Existing supply must be subtracted from these demand estimates to obtain the remaining un-served market.

The results assume a balanced housing market (no extremely high or low rental vacancy rates). Excessive apartment rental vacancy rates (above 10 percent) could reduce the demand shown above because potential residents will have more housing choices at lower prices, while unusually low apartment rental vacancy rates (below 3 percent) restrict choices, raise rents and increase the demand for independent living housing. Also, some of the demand at the higher income levels could be satisfied by entrance fee independent living developments.

Total Demand for Housing by Income and Rent

YOUR Primary Market Area
As of any date through 2015

Units

CURRENT INCOME	Congregate/Independent with one + IADL's (one-person hlds.)		Congregate/Independent by choice (one-person hlds.)		Congregate/Independent Two + person households		Total Demand across the columns
	@ 65% of income		@ 65% of income		@ 65% of income		Total Demand across the columns
	Units	Rent	Units	Rent	Units	Rent	Units
Total	377	NA	224	NA	80	NA	681
$30,000+	97	$1,625	58	$1,625	60	$1,625	215
$35,000 +	73	$1,896	44	$1,896	53	$1,896	170
$40,000 +	55	$2,167	33	$2,167	44	$2,167	132
$50,000 +	40	$2,708	24	$2,708	34	$2,706	98
$60,000 +	32	$3,250	19	$3,250	27	$3,250	78

Nursing Homes & Assisted Living
Entrance Fee Independent Living

Source: Estimated by URBEK^Ž.