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Entrance Fee Independent Living
Note: Typically, the entrance fee "buys-down" the monthly cost for services.
Ideally, an older couple (or individual) sells their home at a price that
allows them to make a "lateral" move to the continuing care setting with
little or no out-of-pocket costs (assuming the entrance fee has to be set a
level consistent with local home prices). The move then allows the couple
(or individual) to spend less for the same monthly services offered in a
typical independent living rental development. |
Total Demand for Entrance Fee Housing
YOUR Primary Market Area
As of any date through 2015
|
CURRENT INCOME |
Congregate/Independent
Rental Option
(mostly one-person hlds.) |
Overlap
|
Potential Independent
Entrance Fee
(many 2 person hlds.) |
Excludes
overlap
|
|
@ 65% of income |
@ 65% of income |
|
Units |
Monthly Rent |
Units |
Units |
Monthly Fee |
Total Units |
|
$30,000+ |
366 |
$1,625 |
0 |
290 |
$1,625 |
656 |
|
$35,000 + |
307 |
$1,896 |
0 |
253 |
**$1,896 |
560 |
|
$40,000 + |
257 |
$2,167 |
0 |
219 |
$2,167 |
476 |
|
$50,000 + |
196 |
$2,708 |
40 |
172 |
$2,708 |
328 |
|
$60,000 + |
146 |
**$3,250 |
25 |
134 |
$3,250 |
255 |
** Essentially the same size
unit.
Source:
Estimated by URBEK®
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