Senior Housing Demand
Independent / Congregate Living
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
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 | 333 | NA | 233 | NA | 83 | NA | 649 |
| $30,000+ | 99 | $1,625 | 70 | $1,625 | 57 | $1,625 | 226 |
| $35,000 + | 76 | $1,896 | 54 | $1,896 | 50 | $1,896 | 180 |
| $40,000 + | 61 | $2,167 | 43 | $2,167 | 43 | $2,167 | 147 |
| $50,000 + | 42 | $2,708 | 30 | $2,708 | 34 | $2,706 | 106 |
| $60,000 + | 31 | $3,250 | 23 | $3,250 | 24 | $3,250 | 78 |
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.
