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<br />Market Analysis for Downtown Redevelopment ***Draft*** <br />City of Centerville Economic Development Authority <br />April 3, 2023 <br />A.4Active Adult For-Sale Demand in Primary Market Area, 2022 and 2027 <br />20222027 <br />Households Age 55 to 65 <br /> 1 <br />Households Age 55 to 64 with Incomes Above $50,000 <br /> 6,8627,448 <br /> 1 <br />Households Age 55 to 64 with Incomes Between $35,000 and $50,000 <br /> 397471 <br />Homeownership Rate90%90% <br />Asset-Qualified Households Age 55 to 64425 358 <br />Total Income- and Asset-Qualified Households Age 55 to 64 7,2207,873 <br />Penetration Rate for Active Adult For-Sale0.0%0.0% <br />Total Demand from Households Age 55 to 64 - - <br />Households Age 65 to 74 <br />1 <br />Households Age 65 to 74 with Incomes Above $50,000 <br /> 5,8535,183 <br />1 <br />Households Age 65 to 74 with Incomes Between $35,000 and $50,000 <br /> 669580 <br />Homeownership Rate97%97% <br />Asset-Qualified Households Age 65 to 74562 648 <br /> 6,5025,745 <br />Total Income- and Asset-Qualified Households Age 65 to 74 <br />Penetration Rate for Active Adult For-Sale1%1% <br />Total Demand from Households Age 65 to 74 57 65 <br />Households Age 75+ <br />1 <br />Households Age 75+ with Incomes Above $50,000 <br /> 3,1632,258 <br /> 1 <br />Households Age 75+ with Incomes Between $35,000 and $50,000 <br /> 835887 <br />Homeownership Rate91%91% <br />Asset-Qualified Households Age 75+808 760 <br />Total Income- and Asset-Qualified Households Age 75+ 3,9233,066 <br />Penetration Rate for Active Adult For-Sale3%3% <br />Total Demand from Households Age 75+ 11892 <br />Total Demand for Active Adult For-Sale Units149 183 <br />Demand from Outside PMA20%20% <br />187228 <br />Minus Existing and Planned AA For-Sale Units in the PMA at 95% Occupancy7171 <br />Total Active Adult For-Sale Units Needed in the PMA116157 <br />Estimated percentage capturable by Downtown Centerville25%-33%25%-33% <br />Demand at site29-3839-52 <br />1. Incomes for 2027 are increased by 3% per year to account for inflation. <br />Source: LOCi Consulting LLC <br /> <br /> <br />Page | 94 <br /> <br />