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
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®.

 

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