Market Data, Staunton, Virginia, 2011-02-25

8/7/2019 Market Data, Staunton, Virginia, 2011-02-25

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Region State US

Nominal GDP Growth - - 4.5%Real GDP Growth - - 3.2%CPI Change - - 1.1%10-Year Treasury Yield - - 2.65%Industrial Capacity Utilization - - 74.80%Unemployment 6.4% 6.4% 9.2%

Civilian Job Growth 0.1% 1.5% 1.0%Establishment Job Growth (2000-10) 0.4% 0.9% 0.5%Establishment Job Growth (2010-15) 1.3% 1.7% 1.4%Manufacturing Job Growth (2000-10) -4.0% -3.6% -3.6%Manufacturing Job Growth (2010-15) 0.1% 0.2% 0.2%

Region

Staunton, Waynesboro and Augusta, Virginia 2000 2010 2015Population 108,988 117,618 120,997Households 42,856 48,297 50,309Renter Households 11,147 12,215 12,764Household Income $47,823 $58,801 $63,376

Market Area

Staunton, Virginia Market Area 2000 2010 2015

Population 64,806 68,888 70,364Households 25,787 28,803 29,788Renter Households 7,090 7,648 7,887Household Income $48,307 $59,871 $64,717

Market Area

Staunton, Virginia Market Area Elderly Family Total

Properties Surveyed, Market Rate 0 19 19Properties Surveyed, Restricted 2 9 11Properties Surveyed, Subsidized 3 2 5Properties Surveyed, Total 5 30 35

Units Surveyed, Market Rate 0 1,318 1,318Units Surveyed Restricted 72 491 563

Staunton, Virginia Market Area(see accompanying map)

Supply Analysis

Staunton, Waynesboro and Augusta, Virginia(see accompanying map)

Staunton, Virginia Market Area(see accompanying map)

Demographic Outlook

Economic Outlook

Multifamily Market Data

The following tables provide summary data for the Staunton, Virginia multifamily market. Detailed data andother supporting information is found in the following pages. Feel free to contact Jeff Carroll (President,Allen & Associates Consulting, Inc.) with any questions you may have regarding this information. He can be

reached at 704-905-2276 or [email protected].

Staunton, Virginia

2/25/2011


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Overview

Our primary and secondary market area definitions are found below.

Primary Market Area

% Census Tract County State Country/Region 2000 Pop Eff Pop

Our study suggested that secondary market areas were generally a function of whether the proposed

development was family or elderly. Our research suggested that secondary market demand for family

properties ranged from 10 to 30 percent. Secondary market demand for elderly properties ranged from 10 to 50

percent. Although seniors move less frequently than younger renters, they are often willing to move longer

distances when looking for housing. We considered these general secondary market guidelines in ourevaluation of the subject property.

MARKET AREA

Market areas are influenced by a variety of interrelated factors. These factors include site location, economic,and demographic characteristics (tenure, income, rent levels, etc.), local transportation patterns, physical

boundaries (rivers, streams, topography, etc.), census geographies, and the location of comparable and/or

potentially competing communities.

In areas where the county seat is the largest city, centrally located, and draws from the entire county, the

county may be the market area. In the case where there are potentially competing communities in one county,

the market area may be part of the county. In fact, the market area could include portions of adjacent counties.

In this case, a combination of county subdivisions may be used to define the market area. In urban or suburban

areas, the market area will be adjacent to the site extending to all locations of similar character with residentsor potential residents likely to be interested in the project. In this case, county subdivisions, townships, or a

combination of census tracts may be used to define the market area.

Allen & Associates recently conducted a series of property management interviews to better understand market

areas and resident moving patterns for affordable multifamily properties. Our study suggested that markets

may be classified into the following general categories: urban, suburban and rural. Renters in urban markets

are typically willing to move 5 to 10 minutes when looking for a new apartment. Our research also shows that

renters in suburban markets are normally willing to move 10 to 15 minutes when looking for a new place to live.

Renters in rural markets are typically willing to move 15 to 20 minutes when looking for a new apartment. We

considered these general guidelines in our evaluation of the subject property.

We defined the primary market area by generating a drive time zone around the subject property and analyzing

median rents and average household income levels in the area. We also considered population densities,

existing concentrations of multifamily properties and the nearest census tract boundaries in our analysis.

Based on our evaluation of the local market, we concluded that the primary market area includes the following

2000 Census Tracts:


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35% 711 Augusta Virginia United States 9,474 3,316

5% 712 Augusta Virginia United States 5,472 274

100% 1 Staunton Virginia United States 1,392 1,392


100% 3 Staunton Virginia United States 4,786 4,786100% 4 Staunton Virginia United States 6,911 6,911



40% 33 Waynesboro Virginia United States 4,345 1,738

60% 34 Waynesboro Virginia United States 4,609 2,765

15% 35 Waynesboro Virginia United States 4,639 696

Total 64,806

Secondary Market Area

Market Area MapMarket area, drive time and existing multifamily maps depicting the location of the subject property are

presented in the following pages:

The primary market area covers a total of 429.8 square miles and is 23.4 miles across on average.

We also estimate that up to 20 percent of multifamily demand will come from areas outside of the primary

market area.


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Market Area.pdf

Site

Section 7 - Market Area Allen and Associates Consulting


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Drive Time.pdfSite



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Existing Multifamily.pdf

Site



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Gross Domestic Product

Nominal Gross Domestic Product

Year Nominal GDP Change1999 $9,354 6.4%

2000 $9,952 6.4%2001 $10,286 3.4%2002 $10,642 3.5%2003 $11,142 4.7%2004 $11,868 6.5%2005 $12,638 6.5%2006 $13,399 6.0%2007 $14,078 5.1%2008 $14,441 2.6%2009 $14,258 -1.3%

In this section we evaluate gross domestic product for the nation since the 1990s. Our analysis includes anevaluation of nominal (current $) GDP and real (2005 $) GDP. We also evaluate money supply and moneyvelocity; money supply and money velocity are critical components of GDP that affect inflation. Our discussionbegins with an evaluation of nominal GDP:

Nominal gross domestic product is a measure of aggregate supply in current dollars. Increases in price levelsand productivity result in increases in nominal gross domestic product.

The following table and graph show nominal gross domestic product for the nation since the 1990s. The dataset comes from the Bureau of Economic Analysis:

Annual Change in Nominal Gross Domestic Product

ECONOMIC OUTLOOK

In this section we conduct an analysis of the national, state and regional economy. Our analysis begins with a

general overview of the national economy.

Source: Bureau of Economic Analysis

Nominal GDP ($ billions)

1 0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%


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Month Nominal GDP ChangeSep-09 $14,115Oct-09 $14,177 1.1%Nov-09 $14,237 1.8%Dec-09 $14,277 0.6%Jan-10 $14,251 0.6%Feb-10 $14,421 2.3%Mar-10 $14,446 2.8%Apr-10 $14,393 3.2%May-10 $14,529 3.5%

Jun-10 $14,579 3.9%Jul-10 $14,575 3.8%Aug-10 $14,651 4.5%Sep-10 $14,750 4.5%


The following table and graph show the nominal gross domestic product for the nation over the past 12months. The data set comes from the Bureau of Economic Analysis:

Nominal GDP ($ billions)


Annual Change in Nominal Gross Domestic Product

Over the past 12 months nominal GDP increased from $14,115 billion to $14,750 billion, or 4.5 percent. Overthe past three years nominal GDP increased at an average annual rate of 4.1 percent.

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%

Aug-09 Oct-09 Dec-09 Jan-10 Mar-10 May-10 Jun-10 Aug-10 Sep-10


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Real Gross Domestic Product

Year Real GDP Change1991 $8,015 -0.2%1992 $8,287 3.4%1993 $8,523 2.9%1994 $8,871 4.1%1995 $9,094 2.5%

1996 $9,434 3.7%1997 $9,854 4.5%1998 $10,284 4.4%1999 $10,780 4.8%2000 $11,226 4.1%2001 $11,347 1.1%2002 $11,553 1.8%

2003 $11,841 2.5%2004 $12,264 3.6%2005 $12,638 3.1%2006 $12,976 2.7%2007 $13,254 2.1%

2008 $13,312 0.4%2009 $12,990 -2.4%

Annual Change in Real Gross Domestic Product

The following table and graph show the real gross domestic product for the nation since the 1990s. The dataset comes from the Bureau of Economic Analysis:

Real GDP ($ billions)


Real gross domestic product is a measure of aggregate supply in constant dollars. Increases in real grossdomestic product are sometimes thought of as increases in productivity.

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%


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Month Real GDP ChangeSep-09 $12,861Oct-09 $12,914 -1.4%Nov-09 $12,966 -0.6%Dec-09 $13,019 0.2%Jan-10 $13,059 0.9%Feb-10 $13,099 1.6%Mar-10 $13,139 2.4%Apr-10 $13,158 2.6%

May-10 $13,176 2.8%Jun-10 $13,195 3.0%Jul-10 $13,222 3.1%Aug-10 $13,250 3.2%Sep-10 $13,277 3.2%

The following table and graph show the real gross domestic product for the nation over the past 12 months.The data set comes from the Bureau of Economic Analysis:

Over the past 12 months real GDP increased from $12,861 billion to $13,277 billion, or 3.2 percent. Over thepast three years real GDP increased at an average annual rate of 0.9 percent.

Real GDP ($ billions)


Annual Change in Real Gross Domestic Product


-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%



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Money Supply

Year Money Supply Change1991 $3,391 3.1%1992 $3,447 1.6%1993 $3,502 1.6%1994 $3,518 0.5%1995 $3,664 4.2%1996 $3,840 4.8%1997 $4,054 5.6%

1998 $4,398 8.5%1999 $4,657 5.9%2000 $4,940 6.1%2001 $5,451 10.3%2002 $5,793 6.3%2003 $6,082 5.0%2004 $6,427 5.7%2005 $6,685 4.0%

2006 $7,047 5.4%2007 $7,443 5.6%2008 $8,242 10.7%2009 $8,524 3.4%

The following table and graph show the money supply for the nation since the 1990s. The data set (M2 asdefined by the Federal Reserve) follows:

Annual Change in Money Supply

Money Supply (M2, $ billions)

Source: Federal Reserve

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010


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Month Money Supply ChangeSep-09 $8,459Oct-09 $8,492 6.1%Nov-09 $8,523 5.7%Dec-09 $8,543 3.5%Jan-10 $8,486 2.0%Feb-10 $8,546 2.3%Mar-10 $8,520 1.3%Apr-10 $8,491 1.5%

May-10 $8,573 1.6%Jun-10 $8,605 1.8%Jul-10 $8,603 1.9%Aug-10 $8,649 2.7%Sep-10 $8,709 3.0%

Annual Change in Money Supply


Over the past 12 months the money supply increased from $8,459 billion to $8,709 billion, or 3.0 percent. Overthe past three years the money supply increased at an average annual rate of 8.4 percent.

The following table and graph show the money supply for the nation over the past 12 months. The data setcomes from the Federal Reserve:

Money Supply (M2, $ billions)


0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%



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Money Velocity

Year Money Velocity Change1991 1.77 0.2%1992 1.84 4.1%

1993 1.90 3.5%1994 2.01 5.8%1995 2.02 0.5%1996 2.04 0.9%1997 2.06 0.7%1998 2.00 -2.7%1999 2.01 0.5%2000 2.01 0.3%

2001 1.89 -6.3%2002 1.84 -2.6%2003 1.83 -0.3%2004 1.85 0.8%2005 1.89 2.4%

2006 1.90 0.6%2007 1.89 -0.5%2008 1.75 -7.4%2009 1.67 -4.5%

Annual Change in Money Velocity

Source: Federal Reserve; Bureau of Economic Analysis

Money Velocity (Nominal GDP / M2 Money Supply)

The following table and graph show money velocity for the nation since the 1990s. The time series is derivedusing Federal Reserve and Bureau of Economic Analysis data:

Money velocity measures the average number of times a year that a dollar is used to buy final goods andservices. Higher velocities are associated with a higher propensity to spend; lower velocities are associatedwith a higher propensity to save. Money velocity is derived by dividing nominal gross domestic product by

money supply.

6 0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%


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Month Money Velocity ChangeSep-09 1.67Oct-09 1.67 -4.7%Nov-09 1.67 -3.7%Dec-09 1.67 -2.8%Jan-10 1.68 -1.4%Feb-10 1.69 0.0%Mar-10 1.70 1.5%Apr-10 1.70 1.7%

May-10 1.69 1.9%Jun-10 1.69 2.0%Jul-10 1.69 1.9%Aug-10 1.69 1.7%Sep-10 1.69 1.5%


Over the past 12 months the money velocity increased from 1.67 to 1.69, or 1.5 percent. Over the past sevenyears the money velocity averaged 1.83.

The following table and graph show the money velocity for the nation over the past 12 months. The time seriesis derived using Federal Reserve and Bureau of Economic Analysis data:


Money Velocity (Nominal GDP / M2 Money Supply)

Annual Change in Money Velocity

-6.0%

-5.0%

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%



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Inflation Outlook

Inflation can be estimated by adding the anticipated annual change in money supply to the anticipated annualchange in money velocity and then subtracting the anticipated annual change in real gross domestic product.

After the economy has recovered, we anticipate that the money supply will grow 10.0 percent annually. We

also anticipate that money velocity will grow 0.0 percent per year, accompanied by real gross domestic productgrowth of 4.0 percent. This results in an estimated annual inflation rate of 6.0 percent.

During the expected recovery, we anticipate that the money supply will grow 10.0 percent annually. We alsoanticipate that money velocity will grow 6.0 percent per year, accompanied by real gross domestic productgrowth of 4.0 percent. This results in an estimated annual inflation rate of 12.0 percent.

In the immediate term, we anticipate that the money supply will grow 4.0 percent annually. We also anticipate

that money velocity will grow 2.0 percent per year, accompanied by real gross domestic product growth of 3.0percent. This results in an estimated annual inflation rate of 3.0 percent.

Many economists maintain that inflationary pressures will begin to take place once the national unemploymentrate falls below 6.0 percent and industrial capacity utilization rises above 80 percent. These figures currentlystand at 9.2 percent and 75 percent, respectively.


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Consumer Price Index

Year Index Change1991 136.2 4.2%1992 140.3 3.0%1993 144.5 3.0%1994 148.2 2.6%1995 152.4 2.8%1996 156.9 3.0%

1997 160.5 2.3%1998 163.0 1.6%1999 166.6 2.2%2000 172.2 3.4%2001 177.1 2.8%2002 179.9 1.6%2003 184.0 2.3%2004 188.9 2.7%2005 195.3 3.4%

2006 201.6 3.2%2007 207.3 2.8%

2008 215.3 3.9%2009 214.5 -0.4%

Sep-09 216.0Sep-10 218.4 1.1%

The following table and graph give the consumer price index for the nation since the 1990s. The data set

comes from the Bureau of Labor Statistics:

Annual Consumer Price Index Change

Source: Bureau of Labor Statistics

Consumer Price Index

0 0%

1.0%

2.0%

3.0%

4.0%

5.0%


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Interest Rates

Year Yield Change1991 7.86% -0.69%1992 7.01% -0.85%1993 5.87% -1.14%1994 7.09% 1.22%1995 6.57% -0.52%

1996 6.44% -0.13%1997 6.35% -0.09%1998 5.26% -1.09%1999 5.65% 0.39%2000 6.03% 0.38%2001 5.02% -1.01%2002 4.61% -0.41%2003 4.01% -0.60%2004 4.27% 0.26%

2005 4.29% 0.02%2006 4.80% 0.51%

2007 4.63% -0.17%2008 3.66% -0.97%2009 3.26% -0.40%

Sep-09 3.40%Sep-10 2.65% -0.75%


10-Year Treasury Yield

The 10-year treasury yield is generally considered to be the best interest rate index for commercial real estate

transactions. The following table and graph give the 10-year treasury rate for the nation since the 1990s. Thedata set comes from the Federal Reserve:

10-Year Treasury Yield

2 00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%


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Industrial Capacity Utilization

Year Yield Change1991 79.8% -2.7%1992 80.4% 0.6%1993 81.5% 1.1%1994 83.5% 2.0%1995 84.0% 0.5%

1996 83.4% -0.6%1997 84.2% 0.8%1998 83.0% -1.2%1999 81.9% -1.1%2000 81.7% -0.2%2001 76.1% -5.6%2002 74.6% -1.5%2003 75.8% 1.2%2004 77.9% 2.1%

2005 80.1% 2.2%2006 80.9% 0.8%

2007 80.6% -0.3%2008 77.6% -3.0%2009 70.1% -7.5%

Sep-09 70.5%Sep-10 74.8% 4.3%



Industrial capacity utilization is a good measure of the health of the nation's manufacturing and industrial

sector. The following table and graph give industrial capacity utilization data for the nation since the 1990s. Thedata set comes from the Federal Reserve:


20 0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

70.0%

75.0%

80.0%

85.0%

90.0%


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Region Map

Region Map.pdf

From this point forward we evaluate the national, state and regional economy. For purposes of this analysis,we define the region as illustrated in the map found below:


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Civilian Employment

Year Nation State Region Nation State Region1990 119,769,423 3,098,145 39,242 - - -1991 118,720,733 3,148,851 39,305 -0.9% 1.6% 0.2%1992 119,521,190 3,180,803 39,381 0.7% 1.0% 0.2%1993 121,307,099 3,207,393 39,314 1.5% 0.8% -0.2%1994 124,243,448 3,250,202 39,173 2.4% 1.3% -0.4%

1995 127,134,391 3,317,434 39,572 2.3% 2.1% 1.0%1996 129,254,917 3,252,499 39,500 1.7% -2.0% -0.2%1997 132,120,921 3,323,266 41,092 2.2% 2.2% 4.0%1998 134,287,067 3,384,653 41,573 1.6% 1.8% 1.2%1999 136,289,214 3,441,589 42,368 1.5% 1.7% 1.9%2000 138,117,863 3,502,524 45,051 1.3% 1.8% 6.3%2001 138,241,765 3,537,719 45,310 0.1% 1.0% 0.6%2002 137,936,672 3,588,079 45,802 -0.2% 1.4% 1.1%2003 138,386,941 3,647,095 46,212 0.3% 1.6% 0.9%

2004 139,988,841 3,715,272 45,607 1.2% 1.9% -1.3%2005 142,328,021 3,783,813 46,334 1.7% 1.8% 1.6%

2006 145,081,526 3,881,258 47,064 1.9% 2.6% 1.6%2007 146,505,034 3,943,262 47,809 1.0% 1.6% 1.6%2008 146,198,116 3,968,410 47,857 -0.2% 0.6% 0.1%2009 140,870,681 3,896,161 46,459 -3.6% -1.8% -2.9%

Dec-09 138,927,357 3,834,021 45,700 - - -Dec-10 140,248,944 3,890,714 45,746 1.0% 1.5% 0.1%

The following table and graph give civilian employment and job growth statistics for the nation, state and region

since the 1990s. The data set comes from the Bureau of Labor Statistics:

Job Growth

Civilian EmploymentCivilian Employment Job Growth


-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%


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Unemployment

Year Nation State Region Nation State Region1990 7,239,509 139,206 1,629 5.7% 4.3% 4.0%1991 8,798,851 197,431 2,333 6.9% 5.9% 5.6%1992 9,830,747 217,491 2,534 7.6% 6.4% 6.0%1993 9,130,642 172,368 1,884 7.0% 5.1% 4.6%1994 8,212,253 167,466 2,161 6.2% 4.9% 5.2%

1995 7,684,687 156,319 2,352 5.7% 4.5% 5.6%

1996 7,522,773 146,142 1,658 5.5% 4.3% 4.0%1997 6,953,733 127,685 1,272 5.0% 3.7% 3.0%1998 6,475,058 97,500 947 4.6% 2.8% 2.2%1999 6,123,758 95,501 986 4.3% 2.7% 2.3%2000 5,754,911 82,455 896 4.0% 2.3% 2.0%2001 6,970,173 116,949 1,317 4.8% 3.2% 2.8%2002 8,492,916 157,306 1,698 5.8% 4.2% 3.6%2003 8,833,209 155,924 1,674 6.0% 4.1% 3.5%

2004 8,304,423 142,747 1,494 5.6% 3.7% 3.2%2005 7,807,022 137,237 1,456 5.2% 3.5% 3.0%

2006 7,155,122 120,039 1,303 4.7% 3.0% 2.7%2007 7,225,327 121,957 1,324 4.7% 3.0% 2.7%2008 9,001,583 161,049 1,873 5.8% 3.9% 3.8%2009 14,444,293 279,789 3,372 9.3% 6.7% 6.8%

Dec-09 14,923,537 275,326 3,395 9.7% 6.7% 6.9%Dec-10 14,210,245 266,032 3,107 9.2% 6.4% 6.4%

The following table and graph give unemployment and unemployment rate statistics for the nation, state and

region since the 1990s. The data set comes from the Bureau of Labor Statistics:

Unemployment Rate

UnemploymentUnemployment Unemployment Rate


2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%


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Establishment Employment

Nation State Region1990 Employment 138,331,022 3,699,605 54,5822000 Employment 165,370,978 4,373,566 61,3711990-2000 Change 27,039,956 673,961 6,789Annual Change, % 1.8% 1.7% 1.2%

2000 Employment 165,370,978 4,373,566 61,371

2010 Employment 174,062,641 4,802,382 64,143

2000-2010 Change 8,691,663 428,816 2,772Annual Change, % 0.5% 0.9% 0.4%

2010 Employment 174,062,641 4,802,382 64,1432015 Employment 186,999,786 5,218,701 68,2822010-2015 Change 12,937,145 416,319 4,139Annual Change, % 1.4% 1.7% 1.3%

The following table gives establishment-based employment data for the nation, state and region since 1990.

The data set, which comes from Woods & Poole Economics, includes a forecast through 2015:

Establishment-based employment for the region increased from 54,582 in 1990 to 64,143 in 2010.Employment is forecasted to increase 1.3 percent annually through 2015. This is compared with projectedgrowth of 1.7 and 1.4 percent for the state and nation, respectively.

The table on the next page gives the distribution of establishment-based employment by industry for the nation,state and region. Once again, the data set (which comes from Woods & Poole Economics), includes a forecastthrough 2015.

Our analysis suggests that state & local government is the largest employment sector, accounting for 8,523jobs, or 13.3 percent of regional employment. The regional state & local government sector is forecasted to

We do not anticipate significant job formation for the next 2 years. In our opinion, the recovery from the current

Please note: Economic forecasts rely heavily on historic data. One should take care in using these forecastsbecause historic economic performance may not be a good indicator of current economic trends.

Establishment Employment

Source: Bureau of Labor Statistics; Woods & Poole Economics

Our analysis also suggests that health care & social assistance is the second largest employment sector,accounting for 8,128 jobs, or 12.7 percent of regional employment. The regional health care & socialassistance sector is forecasted to grow 2.7 percent annually.

Finally, our analysis suggests that manufacturing is the third largest employment sector, accounting for 7,814jobs, or 12.2 percent of regional employment. The regional manufacturing sector is forecasted to grow 0.1

percent annually.


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1990 1990-2000 2000 2000-2010 2010 2010-2015 2015 % of Total

Farm 3,153,000 -0.1% 3,117,000 -1.7% 2,616,090 0.3% 2,656,137 1.5%

Forestry, Fishing & Related Activities 765,712 1.1% 851,365 0.4% 889,762 1.3% 949,364 0.5%

Mining 878,658 -1.5% 757,104 4.7% 1,194,162 0.7% 1,237,205 0.7%

Utilities 755,166 -1.9% 621,755 -0.4% 600,268 0.6% 617,024 0.3%

Construction 7,333,446 2.7% 9,540,310 -1.1% 8,498,659 1.9% 9,326,858 4.9%Manufacturing 18,123,211 -0.2% 17,750,623 -3.6% 12,249,767 0.2% 12,364,714 7.0%

Wholesale Trade 5,702,706 1.0% 6,270,809 -0.6% 5,921,378 1.0% 6,233,535 3.4%

Retail Trade 16,089,080 1.4% 18,455,353 -0.3% 17,951,637 1.2% 19,044,948 10.3%

Transportation & Warehousing 4,272,613 2.5% 5,466,230 0.1% 5,525,031 1.3% 5,883,394 3.2%

Information 3,069,952 2.8% 4,031,289 -1.9% 3,341,641 1.0% 3,516,437 1.9%

Finance & Insurance 6,803,887 1.4% 7,833,629 0.8% 8,469,012 1.4% 9,071,623 4.9%

Real Estate & Related Activities 4,384,916 2.2% 5,446,452 3.4% 7,596,789 1.9% 8,340,180 4.4%

Professional & Technical Services 7,298,716 3.2% 10,023,455 1.7% 11,886,971 2.0% 13,126,759 6.8%

Management & Related Activities 1,366,293 2.8% 1,801,752 0.6% 1,914,607 1.5% 2,061,500 1.1%

Administrative & Waste Services 5,803,324 5.5% 9,903,151 0.1% 9,982,786 2.2% 11,142,883 5.7%

Educational Services 2,031,989 3.4% 2,825,913 4.0% 4,201,688 2.2% 4,683,953 2.4%

Health Care & Social Assistance 11,184,910 3.0% 15,026,260 2.9% 20,054,024 2.1% 22,260,710 11.5%

Arts, Entertainment & Recreation 2,202,450 3.8% 3,199,082 1.7% 3,792,413 1.7% 4,116,969 2.2%Accomodation & Food Services 8,323,122 2.4% 10,574,525 1.4% 12,147,083 1.3% 12,988,384 7.0%

Other Services, Except Public Administration 7,555,871 1.7% 8,937,921 1.3% 10,121,783 1.7% 11,021,508 5.8%

Federal Civilian Government 3,233,004 -1.1% 2,892,979 -0.2% 2,842,845 0.5% 2,921,148 1.6%

Federal Military 2,717,996 -2.7% 2,067,021 -0.1% 2,049,593 0.2% 2,065,876 1.2%

State & Local Government 15,281,000 1.6% 17,977,000 1.2% 20,214,652 1.1% 21,368,677 11.6%

Total 138,331,022 1.8% 165,370,978 0.5% 174,062,641 1.4% 186,999,786 100.0%

1990 1990-2000 2000 2000-2010 2010 2010-2015 2015 % of Total

Farm 63,110 -0.3% 61,192 -2.3% 48,563 0.3% 49,252 1.0%

Forestry, Fishing & Related Activities 12,401 0.7% 13,296 0.0% 13,353 1.3% 14,243 0.3%

Mining 17,247 -4.1% 11,318 2.0% 13,796 0.2% 13,933 0.3%

Utilities 14,889 -2.4% 11,688 1.2% 13,206 0.4% 13,449 0.3%

Construction 203,642 3.2% 279,840 -0.5% 266,953 2.3% 298,917 5.6%

Manufacturing 397,300 -0.9% 363,499 -3.6% 250,751 0.2% 253,053 5.2%

Wholesale Trade 122,305 0.1% 123,592 -0.2% 120,575 1.1% 127,163 2.5%

Retail Trade 421,286 1.4% 482,460 0.0% 481,844 1.3% 512,811 10.0%

Transportation & Warehousing 106,258 2.6% 137,265 -0.3% 133,550 1.2% 141,776 2.8%

Information 84,927 4.2% 127,782 -3.3% 91,306 0.6% 93,969 1.9%

Finance & Insurance 134,495 1.8% 160,052 1.1% 178,030 1.3% 189,571 3.7%

Real Estate & Related Activities 115,048 1.7% 135,942 4.2% 205,983 2.0% 226,909 4.3%

Professional & Technical Services 240,089 4.4% 369,012 3.6% 526,680 2.8% 606,114 11.0%

Management & Related Activities 58,143 2.3% 72,761 0.2% 74,592 1.1% 78,756 1.6%

Administrative & Waste Services 148,654 5.4% 251,196 0.8% 272,170 2.6% 309,181 5.7%

Educational Services 38,991 4.6% 61,135 4.8% 97,790 2.7% 111,568 2.0%

Health Care & Social Assistance 251,143 2.6% 323,995 3.3% 446,942 2.5% 505,365 9.3%

Arts, Entertainment & Recreation 57,779 2.9% 77,262 2.1% 95,274 1.8% 104,369 2.0%Accomodation & Food Services 216,481 2.1% 266,011 1.8% 318,499 1.6% 344,270 6.6%

Other Services, Except Public Administration 203,544 1.5% 237,129 1.7% 279,897 2.1% 310,349 5.8%

Federal Civilian Government 188,425 -1.3% 165,746 0.8% 180,108 0.6% 185,679 3.8%

Federal Military 211,595 -2.3% 168,189 -0.6% 158,279 0.2% 159,542 3.3%

State & Local Government 391,853 1.9% 473,204 1.2% 534,241 1.2% 568,462 11.1%

Total 3,699,605 1.7% 4,373,566 0.9% 4,802,382 1.7% 5,218,701 100.0%

1990 1990-2000 2000 2000-2010 2010 2010-2015 2015 % of Total

Farm 2,212 0.1% 2,232 -2.4% 1,744 0.2% 1,764 2.7%

Forestry, Fishing & Related Activities 165 1.4% 190 1.1% 213 1.3% 227 0.3%

Mining 132 -1.5% 113 2.5% 145 1.2% 154 0.2%

Utilities 229 -1.8% 191 2.5% 244 0.3% 248 0.4%Construction 3,649 2.0% 4,447 0.5% 4,685 1.6% 5,060 7.3%

Manufacturing 12,962 -0.9% 11,785 -4.0% 7,814 0.1% 7,851 12.2%

Wholesale Trade 1,606 1.5% 1,862 -1.3% 1,626 -0.6% 1,581 2.5%

Retail Trade 5,584 1.9% 6,747 1.3% 7,642 1.5% 8,237 11.9%

Transportation & Warehousing 2,448 3.0% 3,299 -0.9% 3,014 0.7% 3,120 4.7%

Information 543 2.0% 661 -1.2% 586 0.1% 588 0.9%

Finance & Insurance 1,177 1.7% 1,398 2.9% 1,860 1.6% 2,014 2.9%

Real Estate & Related Activities 1,360 1.9% 1,646 1.7% 1,945 1.0% 2,048 3.0%

Professional & Technical Services 1 231 3 3% 1 710 1 2% 1 512 1 8% 1 652 2 4%

Region

Employment by Industry

State

Nation


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Annual Per Capita Earnings

Nation State Region1990 Earnings $26,565 $26,004 $22,2622000 Earnings $39,915 $40,130 $29,9071990-2000 Change $13,349 $14,125 $7,644Annual Change, % 4.2% 4.4% 3.0%

2000 Earnings $39,915 $40,130 $29,907

2010 Earnings $50,208 $55,133 $38,622

2000-2010 Change $10,293 $15,004 $8,715Annual Change, % 2.3% 3.2% 2.6%

2010 Earnings $50,208 $55,133 $38,6222015 Earnings $61,056 $67,393 $47,4162010-2015 Change $10,848 $12,260 $8,794Annual Change, % 4.0% 4.1% 4.2%

Please note: Woods & Poole Economics forecasts rely heavily on historic economic data. One should takecare in using these forecasts because historic economic performance may not be a good indicator of currenteconomic trends.

The table on the next page gives the distribution of average annual per capita earnings by industry for thenation, state and region. Once again, the data set (which comes from Woods & Poole Economics), includes aforecast through 2015.

Our analysis suggests that utilities is the highest paying employment sector, with average annual per capitaearnings of $129,305 for the region. Average annual per capita earnings for the regional utilities sector isforecasted to grow 3.1 percent annually.

Our also analysis suggests that information is the second highest paying employment sector, with averageannual per capita earnings of $111,308 for the region. Average annual per capita earnings for the regionalinformation sector is forecasted to grow 4.1 percent annually.

Finally, our analysis suggests that federal civilian government is the third highest paying employment sector,

with average annual per capita earnings of $89,880 for the region. Average annual per capita earnings for theregional federal civilian government sector is forecasted to grow 2.6 percent annually.

The following table gives average annual per capita earnings data for the nation, state and region since 1990.

The data set, which comes from Woods & Poole Economics, includes a forecast through 2015:

Annual Per Capita Earnings


Average annual per capita earnings for the region increased from $22,262 in 1990 to $38,622 in 2010.Earnings are forecasted to increase 4.2 percent annually through 2015. This is compared with projectedgrowth of 4.1 and 4.0 percent for the state and nation, respectively.


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1990 1990-2000 2000 2000-2010 2010 2010-2015 2015

Farm $15,104 1.1% $16,833 6.0% $30,058 3.1% $35,071

Forestry, Fishing & Related Activities $17,286 3.0% $23,121 2.7% $30,067 1.6% $35,166

Mining $39,940 6.0% $71,585 3.5% $101,220 2.4% $128,574

Utilities $48,172 5.4% $81,311 4.2% $122,437 2.4% $154,738

Construction $29,943 4.1% $44,779 0.8% $48,268 2.3% $60,727Manufacturing $33,856 4.5% $52,481 2.9% $69,620 2.3% $87,634

Wholesale Trade $36,683 4.4% $56,573 2.6% $73,153 2.2% $91,249

Retail Trade $17,526 3.5% $24,771 2.0% $30,115 1.9% $36,361

Transportation & Warehousing $30,439 3.4% $42,721 1.7% $50,553 1.8% $60,581

Information $35,673 6.2% $65,398 2.8% $86,483 2.0% $105,478

Finance & Insurance $29,963 7.1% $59,228 2.5% $76,028 2.2% $94,105

Real Estate & Related Activities $13,429 7.7% $28,225 -4.0% $18,687 2.1% $23,093

Professional & Technical Services $37,615 4.6% $58,968 1.9% $71,270 1.8% $85,425

Management & Related Activities $43,635 6.1% $79,055 3.3% $108,938 2.2% $135,739

Administrative & Waste Services $16,827 3.8% $24,424 2.7% $31,971 2.0% $39,120

Educational Services $18,802 3.8% $27,242 2.6% $35,084 1.9% $42,214

Health Care & Social Assistance $27,359 3.1% $37,027 3.0% $49,704 1.9% $59,847

Arts, Entertainment & Recreation $15,035 3.9% $22,096 1.9% $26,638 1.7% $31,542Accomodation & Food Services $12,089 4.2% $18,314 2.0% $22,405 1.8% $26,760

Other Services, Except Public Administration $19,107 4.3% $28,997 1.3% $33,023 1.8% $39,394

Federal Civilian Government $44,163 4.5% $68,817 5.0% $112,189 2.2% $139,725

Federal Military $26,629 3.8% $38,557 8.5% $86,914 2.2% $108,416

State & Local Government $29,223 3.3% $40,452 3.2% $55,652 3.9% $67,419

Total $26,565 4.2% $39,915 2.3% $50,208 4.0% $61,056

1990 1990-2000 2000 2000-2010 2010 2010-2015 2015

Farm $10,904 -1.7% $9,211 -3.9% $6,168 13.7% $11,716


Mining $40,790 3.6% $58,026 3.6% $82,716 5.0% $105,683

Utilities $45,337 5.6% $78,373 5.7% $136,225 4.9% $173,232

Construction $25,767 4.9% $41,423 1.2% $46,658 4.9% $59,324

Manufacturing $30,063 3.9% $44,183 3.7% $63,457 4.7% $79,968

Wholesale Trade $36,284 5.0% $58,976 2.3% $73,758 4.5% $91,702

Retail Trade $15,937 3.7% $23,021 2.3% $28,797 3.9% $34,882


Information $34,488 9.0% $81,984 0.7% $88,165 4.0% $107,420



Professional & Technical Services $34,650 5.8% $60,658 3.5% $85,570 3.8% $103,137

Management & Related Activities $42,749 6.1% $76,972 4.1% $114,654 5.0% $146,022

Administrative & Waste Services $16,451 3.4% $23,028 3.6% $32,920 4.4% $40,826

Educational Services $15,679 5.3% $26,228 3.4% $36,547 3.0% $42,436

Health Care & Social Assistance $25,468 3.4% $35,504 3.6% $50,369 3.8% $60,790

Arts, Entertainment & Recreation $10,963 2.7% $14,358 2.6% $18,539 3.9% $22,480Accomodation & Food Services $11,276 4.0% $16,766 2.5% $21,465 3.7% $25,783

Other Services, Except Public Administration $18,344 5.0% $29,824 2.6% $38,664 3.7% $46,310

Federal Civilian Government $46,772 4.8% $74,942 6.0% $134,489 4.5% $167,851

Federal Military $36,172 4.1% $54,229 7.2% $108,182 4.7% $135,796

State & Local Government $28,643 3.2% $39,414 3.3% $54,687 4.0% $66,459

Total $26,004 4.4% $40,130 3.2% $55,133 4.1% $67,393

1990 1990-2000 2000 2000-2010 2010 2010-2015 2015

Farm $16,072 -2.9% $11,942 -7.2% $5,662 9.8% $9,018


Mining $25,683 2.9% $34,139 8.8% $79,160 3.8% $95,451

Utilities $29,413 6.5% $55,205 8.9% $129,305 3.1% $150,444Construction $21,997 2.8% $29,084 -1.2% $25,836 8.9% $39,623

Manufacturing $32,401 3.3% $44,721 2.5% $57,347 4.7% $72,007

Wholesale Trade $26,400 3.1% $35,880 6.2% $65,780 2.3% $73,879

Retail Trade $12,843 3.9% $18,747 2.7% $24,545 3.9% $29,718


Information $50,062 4.9% $80,909 3.2% $111,308 4.1% $136,334



Professional & Technical Services $16 604 3 5% $23 347 3 4% $32 585 3 7% $39 082

Region

Average Earnings by Industry

State

Nation


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Top Employers

Nation State Region1990 Employment 18,123,211 397,300 12,9622000 Employment 17,750,623 363,499 11,7851990-2000 Change -372,588 -33,801 -1,177

Annual Change, % -0.2% -0.9% -0.9%

2000 Employment 17,750,623 363,499 11,7852010 Employment 12,249,767 250,751 7,8142000-2010 Change -5,500,856 -112,748 -3,971Annual Change, % -3.6% -3.6% -4.0%

2010 Employment 12,249,767 250,751 7,8142015 Employment 12,364,714 253,053 7,8512010-2015 Change 114,947 2,302 37Annual Change, % 0.2% 0.2% 0.1%

It is important to note that the top employer listing is not an exhaustive list. Other employers exist in this

marketplace which are not included because data was not available for this survey. In our opinion, however,the list gives a reasonable snapshot of the employer composition for this area.

The table on the next page gives a listing of the region's top 50 employers. The data, which was obtained fromInfoUSA, includes all industries. Because most economists agree that manufacturing employment is the

backbone of our economy, regional manufacturing employers are highlighted for ease of reference.

The top 5 employers include: (1) Augusta Medical Ctr (2,200 employees); (2) Augusta Health Care Home Med(2,000 employees); (3) Target Distribution Ctr (1,100 employees); (4) Western State Hospital (800 employees);and (5) Hershey Chocolate Of Virginia (600 employees).

The top 3 manufacturing employers include: (1) Personna Medical (600 employees); (2) Hollister (442employees); and (3) Nibco Of Virginia (400 employees).

Please note: Woods & Poole Economics forecasts rely heavily on historic economic data. One should takecare in using these forecasts because historic economic performance may not be a good indicator of currenteconomic trends.

The following table gives manufacturing employment data for the nation, state and region since 1990. The dataset, which comes from Woods & Poole Economics, includes a forecast through 2015:

Manufacturing employment for the region decreased from 12,962 in 1990 to 7,814 in 2008. Employment is

forecasted to increase 0.1 percent annually through 2015. This is compared with projected growth of 0.2 and

0.2 percent for the state and nation, respectively.

Manufacturing Employment



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Target Distribution Ctr.

Western State Hospital

Hershey Chocolate of Virginia

McQuay Int-Chiller

Personna Medical

Augusta County Offices

Augusta Correctional Ctr.

Hollister Inc.

Our employment data source list 600 people employed by Hershey Chocolate of Virginia (540-337-4700) inAugusta & Staunton City Counties making them the fifth largest employer. After multiple attempts, we were notable to get a person on the line to confirm our information.

in Augusta & Staunton City Counties making them the second largest employer. After multiple attempts, wewere not able to get a person on the line to confirm our information.

Our employment data source list 1100 people employed by Target Distribution Ctr. (540-932-3700) in Augusta,Staunton & Waynesboro Counties making them the third largest employer. We spoke with Debbie in the HRDept; she confirmed the number of employees. Debbie stated she could not address the terminations for thelast 12 months but they did hire some but could not give numbers. She expects that they will hire more in thenext 12 months but no numbers available.

Our employment data source list 800 people employed by Western State Hospital (540-332-8000) in Augusta,Staunton & Waynesboro Counties making them the fifth largest employer. We spoke with Becky in the HR

Dept; she confirmed the number of employees. Becky stated she could give no figures for the last 12 monthsand she expects they will remain constant for the next 12 months.

Our employment data source list 600 people employed by McQuay Int-Chiller (540-248-0711) after speakingwith Donna in the HR Dept. she stated that the number of employees was at 500 making them tied for the sixthlargest employer in Augusta & Staunton City Counties. Donna expects to hire more employees in the next 12months depending on the need.

Our employment data source list 600 people employed by Personna Medical (540-248-8000) in Augusta &Staunton City Counties making them tied for the sixth largest employer. After multiple attempts, we were not

able to get a person on the line to confirm our information.

Our employment data source list 450 people employed by Augusta County Offices (540-942-5113 in Augusta,Staunton & Waynesboro Counties after speaking with Faith in the HR Dept. she stated that their number ofemployees was 525 making them the seventh largest employer. Faith stated that they replace as they lose sothey remain constant and will do so for the near future.

Our employment data source list 460 people employed by Augusta Correctional Ctr. (540-997-7000) inAugusta & Staunton City Counties making them the eight largest employer. We spoke with JeanneHeldebrand in the HR Dept; she confirmed the number of employees. She states that they hire to replace andwill remain flat.


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The following map shows the location of the top employers in this region:

Top Employers.pdf


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Population

Nation State Region Market

2000 Population 281,421,906 7,078,515 108,988 64,806

2010 Population 309,038,974 7,884,742 117,618 68,888

2000-2010 Change 27,617,068 806,227 8,630 4,083

Annual Change, % 0.9% 1.1% 0.8% 0.6%

2010 Population 309,038,974 7,884,742 117,618 68,888

2015 Population 321,675,005 8,221,902 120,997 70,364

2010-2015 Change 12,636,031 337,160 3,379 1,476

Annual Change, % 0.8% 0.8% 0.6% 0.4%


2000 Population 222,155,469 5,654,571 81,121 47,581

2010 Population 232,900,422 5,964,800 83,055 47,6112000-2010 Change 10,744,953 310,229 1,934 30

Annual Change, % 0.5% 0.5% 0.2% 0.0%

2010 Population 232,900,422 5,964,800 83,055 47,611

2015 Population 234,325,555 5,979,196 82,627 46,938

2010-2015 Change 1,425,133 14,396 -428 -673

Annual Change, % 0.1% 0.0% -0.1% -0.3%

DEMOGRAPHIC CHARACTERISTICS

In this section we conduct an analysis of regional and market area demographic and select housing

characteristics. Our analysis uses the regional and market area definitions presented previously in this report.

Population for the market area increased from 64,806 in 2000 to 68,888 in 2010. Population is forecasted to

increase 0.4 percent annually through 2015. This is compared with projected growth of 0.6, 0.8 and 0.8 percent

for the region, state and nation, respectively.

The


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2000 Population 59,266,437 1,423,944 27,867 17,224

2010 Population 76,138,552 1,919,942 34,563 21,277

2000-2010 Change 16,872,115 495,998 6,696 4,053Annual Change, % 2.5% 3.0% 2.2% 2.1%

2010 Population 76,138,552 1,919,942 34,563 21,277

2015 Population 87,349,450 2,242,706 38,370 23,426

2010-2015 Change 11,210,898 322,764 3,807 2,149

Annual Change, % 2.8% 3.2% 2.1% 1.9%


2000 Population 42,274,158 981,816 19,679 12,303

2010 Population 51,316,844 1,271,601 24,172 15,017

2000-2010 Change 9,042,686 289,785 4,493 2,714

Annual Change, % 2.0% 2.6% 2.1% 2.0%

2010 Population 51,316,844 1,271,601 24,172 15,017

2015 Population 59,093,550 1,499,545 27,213 16,737

2010-2015 Change 7,776,706 227,944 3,041 1,720

Annual Change, % 2.9% 3.4% 2.4% 2.2%


2000 Population 34,991,753 792,333 16,170 10,194

2010 Population 40,678,969 993,741 19,719 12,334

2000-2010 Change 5,687,216 201,408 3,549 2,140

Annual Change, % 1.5% 2.3% 2.0% 1.9%

2010 Population 40,678,969 993,741 19,719 12,334

2015 Population 46,983,879 1,181,048 22,431 13,870

2010-2015 Change 6,304,910 187,307 2,712 1,536

Annual Change % 2 9% 3 5% 2 6% 2 4%

The 55+ population for the market area increased from 17,224 in 2000 to 21,277 in 2010. The 55+ populationis forecasted to increase 1.9 percent annually through 2015. This is compared with projected growth of 2.1, 3.2

and 2.8 percent for the region, state and nation, respectively.

The 62+ population for the market area increased from 12,303 in 2000 to 15,017 in 2010. The 62+ populationis forecasted to increase 2.2 percent annually through 2015. This is compared with projected growth of 2.4, 3.4


55+ Population

Source: U.S. Census Bureau; Claritas

62+ Population

Source: U.S. Census Bureau, Claritas; Allen & Associates

65+ Population


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Population per Household


2000 Population per Household 2.67 2.62 2.54 2.51


2000-2010 Change -0.01 -0.03 -0.11 -0.12



2010-2015 Change 0.00 -0.01 -0.03 -0.03


2000 Population per Household 3.22 3.10 3.13 3.122010 Population per Household 3.31 3.18 3.09 3.07

2000-2010 Change 0.09 0.08 -0.03 -0.05



2010-2015 Change 0.09 0.08 0.05 0.05




2000-2010 Change 0.04 0.02 -0.04 -0.04



2010-2015 Change 0.01 0.01 -0.01 -0.01

The following tables give population per household data for the nation, state, region and market area since

2000. The data sets, which come from the U.S. Census Bureau and Claritas, include forecasts through 2015:


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2000-2010 Change 0.04 0.03 -0.04 -0.04



2010-2015 Change 0.02 0.03 -0.01 -0.01




2000-2010 Change 0.05 0.03 -0.04 -0.05



2010-2015 Change 0.03 0.03 0.00 0.00

62+ Population per Household



65+ Population per Household

The 65+ population per household for the market area decreased from 1.59 in 2000 to 1.55 in 2010. The 65+

population per household is forecasted to increase from 1.55 in 2010 to 1.55 in 2015.

The 62+ population per household for the market area decreased from 1.61 in 2000 to 1.57 in 2010. The 62+

population per household is forecasted to decrease from 1.57 in 2010 to 1.56 in 2015.


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Households


2000 Households 105,539,122 2,700,335 42,856 25,787

2010 Households 116,136,617 3,043,091 48,297 28,803

2000-2010 Change 10,597,495 342,756 5,441 3,017

Annual Change, % 1.0% 1.2% 1.2% 1.1%

2010 Households 116,136,617 3,043,091 48,297 28,803

2015 Households 120,947,177 3,184,201 50,309 29,788

2010-2015 Change 4,810,560 141,110 2,012 985Annual Change, % 0.8% 0.9% 0.8% 0.7%


2000 Households 69,061,603 1,823,639 25,929 15,272

2010 Households 70,450,021 1,874,847 26,843 15,525

2000-2010 Change 1,388,418 51,208 914 253

Annual Change, % 0.2% 0.3% 0.3% 0.2%

2010 Households 70,450,021 1,874,847 26,843 15,525

2015 Households 68,982,220 1,831,815 26,317 15,051

2010-2015 Change -1,467,801 -43,032 -526 -474Annual Change, % -0.4% -0.5% -0.4% -0.6%

Nation State Region Market2000 Households 36,477,519 876,696 16,927 10,515

2010 Households 45,686,596 1,168,244 21,454 13,278

2000-2010 Change 9,209,077 291,548 4,527 2,763

Annual Change, % 2.3% 2.9% 2.4% 2.4%

The following tables give household data for the nation, state, region and market area since 2000. The data

sets, which come from the U.S. Census Bureau and Claritas, include forecasts through 2015:


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2000 Households 26,422,327 613,465 12,163 7,640

2010 Households 31,196,855 780,781 15,311 9,569

2000-2010 Change 4,774,528 167,316 3,148 1,929

Annual Change, % 1.7% 2.4% 2.3% 2.3%

2010 Households 31,196,855 780,781 15,311 9,569

2015 Households 35,455,889 906,725 17,306 10,701

2010-2015 Change 4,259,034 125,944 1,995 1,132

Annual Change, % 2.6% 3.0% 2.5% 2.3%


2000 Households 22,112,959 500,652 10,121 6,408

2010 Households 24,986,966 614,726 12,678 7,979


2010 Households 24,986,966 614,726 12,678 7,979

2015 Households 28,380,574 715,728 14,440 8,971

2010-2015 Change 3,393,608 101,002 1,762 992

Annual Change, % 2.6% 3.1% 2.6% 2.4%

62+ Households



65+ Households

The 65+ households for the market area increased from 6,408 in 2000 to 7,979 in 2010. The 65+ households

are forecasted to increase 2.4 percent annually through 2015. This is compared with projected growth of 2.6,

3.1 and 2.6 percent for the region, state and nation, respectively.

The 62+ households for the market area increased from 7,640 in 2000 to 9,569 in 2010. The 62+ households

are forecasted to increase 2.3 percent annually through 2015. This is compared with projected growth of 2.5,

3.0 and 2.6 percent for the region, state and nation, respectively.


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Owner Tenure


2000 Tenure 66.2% 68.1% 74.0% 72.5%

2010 Tenure 66.8% 70.0% 74.7% 73.4%

2000-2010 Change 0.66% 1.86% 0.72% 0.94%

2010 Tenure 66.8% 70.0% 74.7% 73.4%

2015 Tenure 66.8% 70.3% 74.6% 73.5%

2010-2015 Change 0.00% 0.31% -0.08% 0.08%


2000 Tenure 59.7% 61.7% 67.3% 65.6%

2010 Tenure 59.6% 63.0% 67.9% 66.6%

2000-2010 Change -0.04% 1.27% 0.53% 0.98%

2010 Tenure 59.6% 63.0% 67.9% 66.6%

2015 Tenure 58.8% 62.4% 67.2% 66.2%

2010-2015 Change -0.86% -0.53% -0.69% -0.45%


2000 Tenure 78.5% 81.5% 84.2% 82.5%

2010 Tenure 78.0% 81.3% 83.3% 81.4%

2000-2010 Change -0.53% -0.25% -0.92% -1.05%

2010 Tenure 78.0% 81.3% 83.3% 81.4%

2015 Tenure 77.5% 81.0% 82.8% 81.0%2010-2015 Change -0.41% -0.30% -0.47% -0.41%

The


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2000 Tenure 78.2% 81.0% 84.0% 82.1%

2010 Tenure 77.3% 80.5% 82.6% 80.4%

2000-2010 Change -0.90% -0.56% -1.41% -1.66%

2010 Tenure 77.3% 80.5% 82.6% 80.4%

2015 Tenure 76.9% 80.2% 82.3% 80.1%

2010-2015 Change -0.39% -0.26% -0.33% -0.36%


2000 Tenure 78.0% 80.6% 83.9% 81.8%

2010 Tenure 76.8% 79.8% 82.2% 79.7%

2000-2010 Change -1.21% -0.84% -1.76% -2.10%

2010 Tenure 76.8% 79.8% 82.2% 79.7%

2015 Tenure 76.4% 79.6% 81.9% 79.4%

2010-2015 Change -0.38% -0.23% -0.23% -0.32%

The 65+ owner tenure for the market area decreased from 81.8 percent in 2000 to 79.7 percent in 2010. The

65+ owner tenure is forecasted to decrease from 79.7 percent in 2010 to 79.4 percent in 2015.

The 62+ owner tenure for the market area decreased from 82.1 percent in 2000 to 80.4 percent in 2010. The

62+ owner tenure is forecasted to decrease from 80.4 percent in 2010 to 80.1 percent in 2015.

62+ Owner Tenure



65+ Owner Tenure


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Renter Tenure


2000 Tenure 33.8% 31.9% 26.0% 27.5%

2010 Tenure 33.2% 30.0% 25.3% 26.6%

2000-2010 Change -0.66% -1.86% -0.72% -0.94%

2010 Tenure 33.2% 30.0% 25.3% 26.6%

2015 Tenure 33.2% 29.7% 25.4% 26.5%

2010-2015 Change 0.00% -0.31% 0.08% -0.08%


2000 Tenure 40.3% 38.3% 32.7% 34.4%

2010 Tenure 40.4% 37.0% 32.1% 33.4%

2000-2010 Change 0.04% -1.27% -0.53% -0.98%

2010 Tenure 40.4% 37.0% 32.1% 33.4%

2015 Tenure 41.2% 37.6% 32.8% 33.8%

2010-2015 Change 0.86% 0.53% 0.69% 0.45%


2000 Tenure 21.5% 18.5% 15.8% 17.5%

2010 Tenure 22.0% 18.7% 16.7% 18.6%

2000-2010 Change 0.53% 0.25% 0.92% 1.05%

2010 Tenure 22.0% 18.7% 16.7% 18.6%

2015 Tenure 22.5% 19.0% 17.2% 19.0%2010-2015 Change 0.41% 0.30% 0.47% 0.41%


55+ Renter Tenure

The following tables give renter tenure data for the nation, state, region and market area since 2000. The data

sets, which come from the U.S. Census Bureau and Claritas, include forecasts through 2015:


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2000 Tenure 21.8% 19.0% 16.0% 17.9%

2010 Tenure 22.7% 19.5% 17.4% 19.6%

2000-2010 Change 0.90% 0.56% 1.41% 1.66%

2010 Tenure 22.7% 19.5% 17.4% 19.6%

2015 Tenure 23.1% 19.8% 17.7% 19.9%

2010-2015 Change 0.39% 0.26% 0.33% 0.36%


2000 Tenure 22.0% 19.4% 16.1% 18.2%

2010 Tenure 23.2% 20.2% 17.8% 20.3%

2000-2010 Change 1.21% 0.84% 1.76% 2.10%

2010 Tenure 23.2% 20.2% 17.8% 20.3%

2015 Tenure 23.6% 20.4% 18.1% 20.6%

2010-2015 Change 0.38% 0.23% 0.23% 0.32%

65+ Renter Tenure

The 65+ renter tenure for the market area increased from 18.2 percent in 2000 to 20.3 percent in 2010. The

65+ renter tenure is forecasted to increase from 20.3 percent in 2010 to 20.6 percent in 2015.

The 62+ renter tenure for the market area increased from 17.9 percent in 2000 to 19.6 percent in 2010. The

62+ renter tenure is forecasted to increase from 19.6 percent in 2010 to 19.9 percent in 2015.

62+ Renter Tenure



Owner Households


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Owner Households


2000 Households 69,840,987 1,840,114 31,709 18,697

2010 Households 77,624,393 2,130,300 36,082 21,155

2000-2010 Change 7,783,406 290,186 4,373 2,458

Annual Change, % 1.1% 1.5% 1.3% 1.2%

2010 Households 77,624,393 2,130,300 36,082 21,155

2015 Households 80,835,933 2,239,109 37,545 21,901

2010-2015 Change 3,211,540 108,809 1,463 746Annual Change, % 0.8% 1.0% 0.8% 0.7%


2000 Households 41,210,444 1,125,242 17,461 10,022

2010 Households 42,008,799 1,180,625 18,220 10,341

2000-2010 Change 798,355 55,383 759 319

Annual Change, % 0.2% 0.5% 0.4% 0.3%

2010 Households 42,008,799 1,180,625 18,220 10,341

2015 Households 40,537,995 1,143,849 17,682 9,958

2010-2015 Change -1,470,804 -36,776 -538 -383Annual Change, % -0.7% -0.6% -0.6% -0.8%


2010 Households 35,615,594 949,675 17,862 10,814

2000-2010 Change 6,985,051 234,803 3,614 2,140

Annual Change, % 2.2% 2.9% 2.3% 2.2%

The following tables give owner household data for the nation, state, region and market area since 2000. The

data sets, which come from the U.S. Census Bureau and Claritas, include forecasts through 2015:


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2000 Households 20,658,562 497,004 10,220 6,272

2010 Households 24,111,417 628,213 12,649 7,697

2000-2010 Change 3,452,855 131,209 2,430 1,424

Annual Change, % 1.6% 2.4% 2.2% 2.1%

2010 Households 24,111,417 628,213 12,649 7,697

2015 Households 27,264,303 727,150 14,239 8,569

2010-2015 Change 3,152,885 98,937 1,590 872

Annual Change, % 2.5% 3.0% 2.4% 2.2%


2000 Households 17,241,999 403,632 8,493 5,243

2010 Households 19,181,056 490,443 10,415 6,361


2010 Households 19,181,056 490,443 10,415 6,361

2015 Households 21,678,459 569,388 11,829 7,123

2010-2015 Change 2,497,403 78,945 1,414 762

Annual Change, % 2.5% 3.0% 2.6% 2.3%

62+ Owner Households



65+ Owner Households

The 65+ owner households for the market area increased from 5,243 in 2000 to 6,361 in 2010. The 65+ owner

households are forecasted to increase 2.3 percent annually through 2015. This is compared with projected

growth of 2.6, 3.0 and 2.5 percent for the region, state and nation, respectively.

The 62+ owner households for the market area increased from 6,272 in 2000 to 7,697 in 2010. The 62+ owner



Renter Households


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Renter Households


2000 Households 35,698,135 860,221 11,147 7,090

2010 Households 38,512,224 912,791 12,215 7,648

2000-2010 Change 2,814,089 52,570 1,068 558

Annual Change, % 0.8% 0.6% 0.9% 0.8%

2010 Households 38,512,224 912,791 12,215 7,648

2015 Households 40,111,244 945,092 12,764 7,887

2010-2015 Change 1,599,020 32,301 549 239Annual Change, % 0.8% 0.7% 0.9% 0.6%


2000 Households 27,851,159 698,397 8,468 5,250

2010 Households 28,441,222 694,222 8,623 5,185

2000-2010 Change 590,063 -4,175 155 -65

Annual Change, % 0.2% -0.1% 0.2% -0.1%

2010 Households 28,441,222 694,222 8,623 5,185

2015 Households 28,444,225 687,966 8,635 5,094

2010-2015 Change 3,003 -6,256 12 -91Annual Change, % 0.0% -0.2% 0.0% -0.4%


2010 Households 10,071,002 218,569 3,592 2,463

2000-2010 Change 2,224,026 56,745 913 623

Annual Change, % 2.5% 3.1% 3.0% 3.0%

Renter households for the market area increased from 7,090 in 2000 to 7,648 in 2010. Renter households are

forecasted to increase 0.6 percent annually through 2015. This is compared with projected growth of 0.9, 0.7


The


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2000 Households 5,763,765 116,461 1,943 1,368

2010 Households 7,085,438 152,569 2,662 1,872

2000-2010 Change 1,321,673 36,108 718 504Annual Change, % 2.1% 2.7% 3.2% 3.2%

2010 Households 7,085,438 152,569 2,662 1,872

2015 Households 8,191,586 179,576 3,066 2,132

2010-2015 Change 1,106,149 27,007 405 260

Annual Change, % 2.9% 3.3% 2.9% 2.6%


2000 Households 4,870,960 97,020 1,628 1,165

2010 Households 5,805,910 124,283 2,263 1,618

2000-2010 Change 934,950 27,263 635 453Annual Change, % 1.8% 2.5% 3.3% 3.3%

2010 Households 5,805,910 124,283 2,263 1,618

2015 Households 6,702,115 146,340 2,611 1,848

2010-2015 Change 896,205 22,057 348 230

Annual Change, % 2.9% 3.3% 2.9% 2.7%

The 65+ renter households for the market area increased from 1,165 in 2000 to 1,618 in 2010. The 65+ renter



The 62+ renter households for the market area increased from 1,368 in 2000 to 1,872 in 2010. The 62+ renter



62+ Renter Households



65+ Renter Households

Household Income


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2000 Average Income $56,644 $61,628 $47,823 $48,307

2010 Average Income $71,071 $83,385 $58,801 $59,871

2000-2010 Change $14,427 $21,758 $10,979 $11,565

Annual Change, % 2.3% 3.1% 2.1% 2.2%

2010 Average Income $71,071 $83,385 $58,801 $59,871

2015 Average Income $77,465 $93,713 $63,376 $64,717

2010-2015 Change $6,394 $10,328 $4,575 $4,845Annual Change, % 1.7% 2.4% 1.5% 1.6%

The following table gives average household income data for the region and market area since 2000. The data

set, which comes from the U.S. Census Bureau and Claritas, includes a forecast through 2015:

Average Household Income


$0 to $9,999

Average household income for the market area increased from $48,307 in 2000 to $59,871 in 2010. Household

income is forecasted to increase 1.6 percent annually through 2015. This is compared with consumer price

index growth of 1.1 percent over the past 12 months, suggesting that growth in real disposable income is

anticipated for the area.

$10,000 to $19,999

$40,000 to $49,999

$50,000 to $59,999

2011

Households, by Income (Market Area)

The following table and graph show the current distribution of household incomes for the market area. The dataset comes from the U.S. Census and Claritas:

$80,000 or more

1,964

2,828

3,676

3,320

7,514

3,061

2,852

$20,000 to $29,999

$30,000 to $39,999

2,033

1,752

$60,000 to $69,999

$70,000 to $79,999

4,000

5,000

6,000

7,000

8,000

Owner Household Income


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$ 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7+ Person

$0 to $9,999 548 162 36 12 3 1 0

$10,000 to $19,999 970 434 80 12 14 4 2

$20,000 to $29,999 852 934 245 73 51 16 7

$30,000 to $39,999 535 1,141 366 187 81 25 11

$40,000 to $49,999 417 1,107 327 274 118 37 16

$50,000 to $59,999 192 1,005 450 428 88 28 12

$60,000 to $69,999 138 652 408 312 106 33 14$70,000 to $79,999 126 582 379 281 102 32 14

$80,000 or more 568 2,622 1,705 1,267 457 143 62

$ 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7+ Person$0 to $9,999 61 34 14 5 0 0 0

$10,000 to $19,999 161 60 46 11 13 4 2

$20,000 to $29,999 210 212 137 60 40 12 5

$30,000 to $39,999 242 218 186 178 70 22 10

$40 000 to $49 999 191 325 203 250 106 33 14

2011

The following table and graph show the current distribution of owner household incomes for the market area. The

data set comes from the U.S. Census Bureau and Claritas:

2011

2011

Source: U.S. Census, Claritas; Allen & Associates

Owner Households, by Income, by Size

The following table shows the current distribution of


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$10,000 to $19,999 809 374 34 1 1 0 0

$20,000 to $29,999 642 722 108 13 11 3 1

$30,000 to $39,999 292 923 180 9 11 3 1

$40,000 to $49,999 226 782 124 24 12 4 2

$50,000 to $59,999 121 594 170 44 26 8 4

$60,000 to $69,999 90 391 150 42 11 3 1

$70,000 to $79,999 82 351 138 39 8 3 1$80,000 or more 369 1,580 622 176 38 12 5


$10,000 to $19,999 674 313 24 1 0 0 0

$20,000 to $29,999 506 614 75 6 4 1 1

$30,000 to $39,999 204 713 143 7 8 2 1

$40,000 to $49,999 171 561 93 20 10 3 1

$50,000 to $59,999 95 404 106 19 25 8 3

$60,000 to $69,999 64 245 86 23 6 2 1

$70,000 to $79,999 58 217 79 21 4 1 1

$80,000 or more 261 978 355 96 17 5 2


$10,000 to $19,999 616 286 19 1 0 0 0

$20,000 to $29,999 448 568 60 3 1 0 0

$30,000 to $39,999 167 623 128 6 6 2 1

$40 000 to $49 999 148 466 80 18 9 3 1

again, the data set comes from the U.S. Census Bureau and Claritas:

The following table shows the current distribution of 62+ owner household incomes for the market area. Once


The following table shows the current distribution of 65+ owner household incomes for the market area. Once



62+ Owner Households, by Income, by Size

2011

2011

2011

2011


2011

2011



Renter Household Income


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$ 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7+ Person

$0 to $9,999 971 93 103 26 6 2 1

$10,000 to $19,999 804 263 129 93 16 6 2

$20,000 to $29,999 845 347 133 112 41 15 6

$30,000 to $39,999 324 300 185 99 45 16 6

$40,000 to $49,999 152 285 148 117 43 15 6

$50,000 to $59,999 132 191 163 112 34 12 5

$60,000 to $69,999 70 99 76 87 25 9 4$70,000 to $79,999 44 63 46 58 17 6 2

$80,000 or more 128 184 135 170 49 17 7


$10,000 to $19,999 401 106 127 90 14 5 2

$20,000 to $29,999 552 250 124 111 41 14 6

$30,000 to $39,999 206 238 134 83 40 14 6

$40 000 to $49 999 111 213 130 114 34 12 5

2011

The following table and graph show the current distribution of renter household incomes for the market area. The

data set comes from the U.S. Census Bureau and Claritas:

2011

2011


Renter Households, by Income, by Size

The following table shows the current distribution of


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$10,000 to $19,999 403 157 2 2 2 1 0

$20,000 to $29,999 293 97 9 1 0 0 0

$30,000 to $39,999 118 62 51 16 5 2 1

$40,000 to $49,999 42 72 18 3 9 3 1

$50,000 to $59,999 37 35 26 2 2 1 0

$60,000 to $69,999 35 23 26 5 10 4 1

$70,000 to $79,999 24 15 18 4 7 3 1$80,000 or more 71 45 52 11 22 8 3


$10,000 to $19,999 328 137 1 1 2 1 0

$20,000 to $29,999 223 82 7 1 0 0 0

$30,000 to $39,999 86 41 21 12 2 1 0

$40,000 to $49,999 27 29 12 1 3 1 0

$50,000 to $59,999 33 26 18 2 2 1 0

$60,000 to $69,999 31 13 10 5 7 2 1

$70,000 to $79,999 21 8 6 4 5 2 1

$80,000 or more 61 24 19 11 14 5 2


$10,000 to $19,999 296 128 1 0 2 1 0

$20,000 to $29,999 193 75 6 0 0 0 0

$30,000 to $39,999 73 33 9 10 0 0 0

$40 000 to $49 999 20 10 10 1 0 0 0


The following table shows the current distribution of 62+ renter household incomes for the market area. Once


The following table shows the current distribution of 65+ renter household incomes for the market area. Once



62+ Renter Households, by Income, by Size

2011

2011

2011

2011


2011

2011



Overburdened Owner HouseholdsThe follo ing tables gi e o erb rdened o ner ho sehold data for the nation state region and market area


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35% of Income Spent on Housing 15.9% 14.2% 12.2% 12.7%

Total 100.0% 100.0% 100.0% 100.0%



Total 100.0% 100.0% 100.0% 100.0%



Total 100.0% 100.0% 100.0% 100.0%

The following tables give overburdened owner household data for the nation, state, region and market area.

The data set comes from the U.S. Census Bureau:

Our research suggests that 12.7 percent of the owner households in this market area are overburdened,

paying more than 35 percent of their income towards housing-related costs. Our research also suggests that

17.2 percent of the owner households are overburdened to 30 percent of income.

Our research suggests that 12.1 percent of the


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Total 100.0% 100.0% 100.0% 100.0%



Total 100.0% 100.0% 100.0% 100.0%

Our research suggests that 13.0 percent of the 62+ owner households in this market area are overburdened,


17.0 percent of the 62+ owner households are overburdened to 30 percent of income.

Our research suggests that 12.6 percent of the 65+ owner households in this market area are overburdened,


16.5 percent of the 65+ owner households are overburdened to 30 percent of income.

Source: U.S. Census Bureau; Allen & Associates

65+ Overburdened Owner Households

Source: U.S. Census Bureau

Overburdened Renter HouseholdsThe following tables give overburdened renter household data for the nation state region and market area


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Total 100.0% 100.0% 100.0% 100.0%



Total 100.0% 100.0% 100.0% 100.0%



Total 100.0% 100.0% 100.0% 100.0%

The following tables give overburdened renter household data for the nation, state, region and market area.

The data set comes from the U.S. Census Bureau:

Our research suggests that 23.9 percent of the renter households in this market area are overburdened, paying

more than 35 percent of their income towards housing-related costs. Our research also suggests that 32.7

percent of the renter households are overburdened to 30 percent of income.

Our research suggests that 21.3 percent of the


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Total 100.0% 100.0% 100.0% 100.0%



Total 100.0% 100.0% 100.0% 100.0%

Our research suggests that 33.1 percent of the 62+ renter households in this market area are overburdened,


45.7 percent of the 62+ renter households are overburdened to 30 percent of income.

Our research suggests that 33.8 percent of the 65+ renter households in this market area are overburdened,


46.3 percent of the 65+ renter households are overburdened to 30 percent of income.

Source: U.S. Census Bureau; Allen & Associates

65+ Overburdened Renter Households


Owner Substandard UnitsThe U.S. Census Bureau defines substandard housing units as follows: (1) Units without complete plumbing; or


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1.00 persons per room or less 96.5% 97.9% 98.5% 98.7%

1.01 to 1.50 persons per room 1.9% 1.1% 0.8% 0.6%

1.51 persons per room or more 1.1% 0.4% 0.1% 0.1%

Complete Plumbing 99.5% 99.4% 99.4% 99.4%




Lacking Complete Plumbing 0.5% 0.6% 0.6% 0.6%

Standard 96.5% 97.9% 98.5% 98.7%

Substandard 3.5% 2.1% 1.5% 1.3%

Total 100.0% 100.0% 100.0% 100.0%

Renter Substandard Units





Complete Plumbing 99.0% 98.9% 98.7% 99.3%


1.01 to 1.50 persons per room 0.1% 0.1% 0.0% 0.0%1.51 persons per room or more 0.2% 0.1% 0.0% 0.0%

Lacking Complete Plumbing 1.0% 1.1% 1.3% 0.7%

Standard 88.3% 92.3% 96.1% 97.3%

S b d d 11 7% 7 7% 3 9% 2 7%

g ( ) p p g;

(2) Units with 1.00 or more persons per room.

The following tables give owner substandard housing unit data for occupied housing units in the nation, state,

region and market area. The data comes from the U.S. Census Bureau:

The following tables give renter substandard housing unit data for occupied housing units in the nation, state,

region and market area. The data comes from the U.S. Census Bureau:

Renter Substandard Units

Owner Substandard Units


Our research suggests that 1.3 percent of occupied owner housing units in the market area are substandard.

This is compared with 1.5, 2.1 and 3.5 percent for the region, state and nation, respectively.

Owner MovershipThe following tables give owner household movership data for the market area with an estimated breakout by


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1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7+ Person Total

Owner to Owner 2.3% 3.6% 4.6% 4.6% 4.9% 5.3% 6.2% 3.8%

Owner to Renter 2.2% 2.0% 3.6% 3.4% 3.4% 5.1% 7.8% 2.8%

Owner Movership Rate 4.4% 5.6% 8.2% 7.9% 8.3% 10.4% 14.0% 6.5%


Owner to Owner 2.0% 2.8% 2.3% 1.6% 3.1% 1.0% 3.7% 2.4%

Owner to Renter 1.7% 0.8% 1.4% 2.1% 0.6% 2.6% 0.0% 1.2%

Owner Movership Rate 3.7% 3.7% 3.7% 3.7% 3.7% 3.7% 3.7% 3.7%

Renter Movership


Renter to Renter 10.4% 23.3% 32.9% 39.5% 40.0% 43.3% 66.9% 23.6%

Renter to Owner 2.5% 9.5% 9.7% 12.3% 13.5% 10.5% 12.3% 7.5%

Renter Movership Rate 13.0% 32.8% 42.6% 51.9% 53.5% 53.8% 79.2% 31.1%


R R 7 4% 6 6% 7 2% 7 6% 6 0% 7 8% 0 0% 7 1%

household size. The data comes from the U.S. Census Bureau and the American Housing Survey:

Our research suggests an owner movership rate of 6.5 percent, consisting of 3.8 percent owner to owner and 2.8

percent owner to renter movership.

Owner Movership, by Size

Source: U.S. Census, American Housing Survey; Allen & Associates

Market Area

Elderly Owner Movership, by Size

AHS Survey


Market Area

Our research suggests an elderly owner movership rate of 3.7 percent, consisting of 2.4 percent owner to owner

and 1.2 percent owner to renter movership.

The following tables give renter household movership data for the market area with an estimated breakout by

household size. The data comes from the U.S. Census Bureau and the American Housing Survey:

Our research suggests a renter movership rate of 31.1 percent, consisting of 23.6 percent renter to renter and

7.5 percent renter to owner movership.

Renter Movership, by Size

Elderly Renter Movership, by Size

AHS Survey


Owner Housing Unit Size RelationshipThe following table sets forth the relationship between owner unit size and household size for the nation from the


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1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7+ Person

0 Bedroom 0.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

1 Bedroom 7.2% 2.0% 0.5% 0.2% 0.1% 0.2% 0.0%

2 Bedroom 35.4% 21.8% 12.5% 6.4% 5.0% 5.0% 4.5%

3 Bedroom 45.8% 55.2% 57.7% 54.3% 42.1% 36.7% 33.7%

4 Bedroom 11.4% 20.9% 29.3% 39.0% 52.8% 58.2% 61.9%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Renter Housing Unit Size Relationship

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7+ Person

0 Bedroom 4.9% 1.2% 0.5% 0.1% 0.2% 0.4% 0.0%1 Bedroom 54.6% 22.9% 10.3% 7.6% 4.7% 3.1% 1.1%

2 Bedroom 30.6% 55.6% 51.1% 40.2% 30.5% 24.3% 26.2%

3 Bedroom 8.4% 17.4% 32.9% 41.1% 47.9% 44.9% 42.5%

4 Bedroom 1.4% 2.9% 5.3% 11.0% 16.8% 27.3% 30.1%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

most recent American Housing Survey. This data is useful in segmenting owner demand for housing by unit size:

The following table sets forth the relationship between renter unit size and household size for the nation from the

most recent American Housing Survey. This data is useful in segmenting renter demand for housing by unit size:

Renter Housing Units, by Unit Size, by Household Size

Source: American Housing Survey

Owner Housing Units, by Unit Size, by Household Size

Source: American Housing Survey

Housing Units by Building TypeThe following table gives total housing units by building type for the market area since 2000. The data set,

hi h f h U S C B d Cl i i l d f h h 2015


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2000 2000-2010 2010 2010-2015 2015 % of Total

1, detached 21,099 1.1% 23,457 0.6% 24,226 75.9%

1, attached 475 1.8% 567 0.1% 571 1.8%

2 749 -0.9% 686 1.0% 721 2.

Documents

Market Data, Staunton, Virginia, 2011-02-25