After estimating the demand for high-acuity care, we can look at the remaining demand for independent and congregate living. These estimates may be combined with Nursing Home and Assisted Living demand across income classes since all of the overlaps have been eliminated.
The results shown below assume a balanced housing market – no extremely high or low rental vacancy rates. Excessive rental vacancy rates will reduce the demand shown because potential residents will have more housing choices at lower prices, while unusually low rental vacancy rates restrict choices, raise rents and increase the demand for congregate housing. Also, demand at the highest rent ranges could be satisfied by sales housing in a continuing care retirement community.
SUMMARY DEMAND FOR SENIORS HOUSING BY INCOME AND RENT
Sample Primary Market Area
As of Jan 1, 2018
|Current Income||Congregate/Independent with 1+ IADLs (one-person hlds.)||Congregate/Independent by choice (one-person hlds.)||Congregate/Independent 2+ Person Households||Total Demand Across Columns|
|@65% of Income||@65% of Income||@65% of Income|
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 potential market opportunities.
Project categories: Sample Reports