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Entrance Fee Independent Living
Note: Typically, the entrance fee "buys-down" the monthly cost for services
(See Penetration rate tables).
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
(mostly 2 person hlds.) |
Excludes
overlap
|
|
@ 65% of income |
@ 65% of income |
|
Units |
Monthly Rent |
Units |
Units |
Monthly Fee |
Total Units |
|
$30,000+ |
215 |
$1,625 |
35 |
230 |
$1,625 |
410 |
|
$35,000 + |
170 |
$1,896 |
35 |
191 |
$1,896 |
326 |
|
$40,000 + |
132 |
$2,167 |
35 |
151 |
**$2,167 |
248 |
|
$50,000 + |
98 |
$2,708 |
30 |
117 |
$2,708 |
185 |
|
$60,000 + |
78 |
**$3,250 |
25 |
93 |
$3,250 |
146 |
** Essentially the same size
unit.
Source:
Estimated by URBEK®
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