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Multifamily Market Analysis <br />Senior Housing <br />Townhomes and CondominiumsApartments <br />For-saleRentalFor-sale and rental <br />Median sale price for single-family Vacancy rate in PMA: 5.1%Well developed market, many <br />detached homes in the PMA was product choices <br />Vacancy rate in Metro Area: 7.0% <br />$393,750 in 2022—43% increase <br />Vacancy rate vary <br />Affordable rental <br />from 2018 <br />Affordable: 0.0% <br />No vacancies in profiled properties <br />Median sale price for attached <br />Active Adult: 0.4% <br />townhomes and condominiums in <br />New properties in Forest Lake and <br />the PMA was $284,500 in 2022— <br />HugoIndependent Living: 2.8% <br />46% increase from 2018 <br />Market-rate rentalAssisted Living: 7.8% <br />One condominium project <br />Vacancy rate of 8.2% in newer Memory Care: 3.2% <br />marketing in PMA—Hill Farm <br />profiled properties <br />New AL and MC projects recently <br />Condominiums (starting at $800k) <br />Rents are $885-$2,700 per month opened in Centerville (not included <br />Attached townhomes range from <br />or $1.34 to $2.84 per square foot in vacancy numbers) <br />$340k to $460k. About 1,600-1,900 <br />Units are 480- to 1,543-square feetMonthly fees for market-rate units <br />square feet <br />start at $980 <br />New rental projects have leased up <br />Attached townhomes are mostly <br />quickly <br />targeted to price sensitive first-time <br />homebuyers <br />Downtown Redevelopment Market Analysis – Summary of Findings <br />10 <br />Centerville City Council <br />May 10, 2023 <br /> <br />