URBEK Summary Demand for Housing by Income and Rent

Independent / Congregate Living

Note: Demand estimates can be added across the table, but not down. 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	558	NA	306	NA	132	NA	996
$30,000+	174	$1,625	97	$1,625	95	$1,625	366
$35,000 +	143	$1,896	80	$1,896	84	$1,896	307
$40,000 +	117	$2,167	66	$2,167	74	$2,167	257
$50,000 +	87	$2,708	50	$2,708	59	$2,708	196
$60,000 +	63	$3,250	37	$3,250	46	$3,250	146

Nursing Homes & Assisted Living
Entrance Fee Independent Living

Source: Estimated by URBEK^Ž.