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.
 

Nursing Homes & Assisted Living
Independent/Congregate Living

Source: Estimated by URBEK®

 

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