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HOUSING DEMAND ANALYSIS <br />TABLE HD-5 <br />MARKET RATE ASSISTED LIVING DEMAND <br />CITY OF RAMSEY <br />2019 and 2024 <br />2019 I 2024 <br />Percent Number Percent <br />Needing Needing Needing <br />Age group People Assistance' Assistance) People Assistance' <br />75 - 79 429 25.5% 109 724 25.5% <br />80 - 84 173 33.6% 58 321 33.6% <br />85+ 109 51.6% 56 163 51.6% <br />Total 711 224 1,208 <br />Percent Income-Qualified2 73% <br />Total potential market 163 <br />(times) Percent living alone x 44% <br />- <br />(equals) Age/income-qualified singles needing assistance = 72 <br />(plus) Proportion of demand from couples (12%)3 + 10 <br />_ <br />(equals) Total age/income-qualified market needing assistance = 81 <br />(times) Potential penetration rate4 x 40% <br />_ <br />(equals) Potential demand from Ramsey residents = 33 <br />(plus) Proportion from outside Ramsey (25%) + 11 <br />(equals) Total potential assisted living demand = 43 <br />(minus) Existing market rate assisted living units5 - 45 <br />(equals) Total excess market rate assisted living demand = 0 <br />1 The percentage of seniors unable to perform or having difficulting with ADLs, based on the publication Health, United States, 199' <br />Aging Chartbook, conducted by the Centers for Disease Control and Prevention and the National Center for Health Statistics. <br />2 Includes households with incomes of $40,000 or more (who could afford monthly rents of $3,000+ per month) plus 40% of estima <br />households with incomes below $40,000 (who will spend down assets, including home -equity, in order to live in assisted living hou <br />3 The 2009 Overview of Assisted Living (a collaborative project of AAHSA, ASHA, ALFA, NCAL & NIC) found that 12% of assisted living <br />are couples. <br />4 We estimate that 60% of the qualified market needing assistance with ADLs could either remain in their homes or reside at less ac <br />senior housing with the assistance of a family member or home health care, or would need greater care provided in a skilled care f: <br />5 Existing and pending units at 93% occupancy. <br />Source: Maxfield Research & Consulting, LLC <br />MAXFIELD RESEARCH AND CONSULTING <br />