a market conditions and project evaluation summary of - Georgia ...

Allen Wilson Phase III, Decatur, GA; Market Study
60%AMI
Calculation of Potential Household Demand by Income Cohort by % of AMI
Percent of AMI Level
60%
Minimum Income Limit $0
Maximum Income Limit $44,940 5 Persons
Income Category
New Renter
Households - Total
Change in
Households PMA
2000 to Prj Mrkt Entry
June 2014 Income Brackets Percent within Cohort
Renter Households
within Bracket
$0-9,999 452 14.0% 9,999 100.0% 452
$10,000-19,999 471 14.6% 9,999 100.0% 471
$20,000-29,999 398 12.3% 9,999 100.0% 398
$30,000-39,999 374 11.6% 9,999 100.0% 374
$40,000-49,999 358 11.1% 4,940 49.4% 177
$50,000-59,999 249 7.7% 0.0% 0
$60,000-74,999 208 6.4% 0.0% 0
$75,000-99,999 218 6.8% 0.0% 0
$100,000+ 497 15.4% 0.0% 0
3,227 100.0% 1,873
Percent of renter households within limits versus total number of renter households 58.04%
Check OK
Calculation of New Renter Household Demand by Income Cohort by % of AMI
Percent of AMI Level 60%
0%
Minimum Income Limit $0 $0
Maximum Income Limit $44,940 5 Persons $0
Total Renter
Households PMA Prj
Households within
Income Category
Mrkt Entry June 2014 Income Brackets Percent within Cohort Bracket Income Brackets
$0-9,999 2,925 14.0% 9,999 100.0% 2,925 0
$10,000-19,999 3,048 14.6% 9,999 100.0% 3,048 0
$20,000-29,999 2,574 12.3% 9,999 100.0% 2,574 0
$30,000-39,999 2,421 11.6% 9,999 100.0% 2,421 0
$40,000-49,999 2,313 11.1% 4,940 49.4% 1,143 0
$50,000-59,999 1,612 7.7% 0 0.0% 0 0
$60,000-74,999 1,346 6.4% 0 0.0% 0
$75,000-99,999 1,410 6.8% 0 0.0% 0
$100,000+ 3,216 15.4% 0 0.0% 0
20,864 100.0% 12,110
Percent of renter households within limits versus total number of renter households 58.04%
Check OK
Does the Project Benefit from Rent Subsidy? (Y/N) No
Type of Housing (Family vs Senior) Family
Location of Subject (Rural versus Urban) Urban
Percent of Income for Housing 35%
2000 Median Income $44,023
Projected Mkt Entry June 2014 Median Income $66,317
Change from 2000 to Prj Mrkt Entry June 2014 $22,294
Total Percent Change 50.6%
Average Annual Change 8.4%
Inflation Rate 8.4% Two year adjustment 1.0000
Maximum Allowable Income $44,940
Maximum Allowable Income Inflation Adjusted $44,940
Maximum Number of Occupants 5 Persons
Rent Income Categories 60%
Initial Gross Rent for Smallest Unit $0
Initial Gross Rent for Smallest Unit Inflation Adjusted $0.00
Persons in Household 0BR 1BR 2BR 3BR 4BR 5BR Total
1 0% 90% 10% 0% 0% 0% 100%
2 0% 20% 80% 0% 0% 0% 100%
3 0% 0% 60% 40% 0% 0% 100%
4 0% 0% 0% 80% 20% 0% 100%
5+ 0% 0% 0% 70% 30% 0% 100%
Novogradac & Company, LLP 54