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<br />Market Analysis for Downtown Redevelopment ***Draft*** <br />City of Centerville Economic Development Authority <br />April 3, 2023 <br />A.7Assisted Living Demand in Primary Market Area, 2022 and 2027 <br />20222027 <br /> 3,1632,258 <br />Households Age 75+ with Incomes Above $50,000 <br />Households Age 75+ with Incomes Between $35,000 and $50,000 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 />2 <br />Percentage of Households that Need Assistance with ADLs or IADLs <br />20%20% <br /> 785613 <br />Estimated Penetration Rate50%50% <br /> 392307 <br />Plus Demand from Outside Primary Market Area20%20% <br />383490 <br />Minus Existing and Planned AL Units in the Primary Market Area at 93% <br />Occupancy492492 <br />Assisted Living Units Needed in the Primary Market Area-109-2 <br />Estimated percentage capturable by Downtown Centerville25%-33%25%-33% <br />Demand at site-27--360--1 <br />1. Incomes for 2027 are increased by 3% per year to account for inflation. <br />2. Activities of Daily Living (ADLs) are activities such as eating, dressing, or bathing. Instrumental Activities of Daily Living (IADLs) are <br />activities such as household chores or shopping. Source is Summary Health Statistics for the U.S. Population: National Health Interview <br />Survey, 2012. Centers for Disease Control. 2012. Study found 10% incidence for ADLs and 20% for IADLs. <br />Source: LOCi Consulting LLC <br /> <br /> <br />Page | 97 <br /> <br />