Laserfiche WebLink
HOUSING DEMAND ANALYSIS <br />Alzheimers/dementia (299 seniors) by the income-qualified percentage results in a total of 111 <br />age/income-qualified seniors in the Elk River in 2015. <br /> <br />TABLE HD-8 <br />MEMORY CARE DEMAND <br />ELK RIVER <br />2015 & 2020 <br />20152020 <br />65 to 74 Population1,5001,904 <br />(times) Dementia Incidence Rate¹x2%x2% <br />(equals) Estimated Age 65 to 74 Pop. with Dementia=30=38 <br />75 to 84 Population701858 <br />(times) Dementia Incidence Rate¹x19%x19% <br />(equals) Estimated Age 75 to 84 Pop. with Dementia=133=163 <br />85+ Population323363 <br />(times) Dementia Incidence Rate¹x42%x42% <br />(equals) Estimated Age 85+ Pop. with Dementia=136=152 <br />(equals) Total Senior Population with Dementia=299=354 <br />(times) Percent Income/Asset-Qualified²x37%x38% <br />(equals) Total Income-Qualified Market Base=111=134 <br />(times) Percent Needing Specialized Memory Care Assistancex25%x25% <br />(equals) Total Need for Dementia Care=28=34 <br />(plus) Demand from Outside Market Area (40%)+18+22 <br />Total Demand Potential=4656 <br />(minus) Existing and Pending Memory Care Units³-28-28 <br />(equals) Excess Demand for Memory Care Units=18=28 <br />¹ Alzheimer's Association: Alzheimer's Disease Facts & Figures (2009) <br />² Income-qualified households consider 3/4 of those with incomes greater than $60,000 plus 15% of homeowners with <br />incomes below this threshold. <br />³ Existing memory care units less units occupied by public pay res7% vacancy rate. <br />Source: Maxfield Research & Consulting, LLC <br /> <br /> <br />According to data from the National Institute of Aging, about 25 <br />memory care impairments comprise the market for memory care hous <br />considers that seniors in the early stages of dementia will be adependently with the <br />care of a spouse or other family member, while those in the late <br />require intensive medical care that would only be available in s <br />this figure to the estimated population with memory impairments yields a potential market of <br />about 28 seniors in Elk River. <br /> <br />95 <br />MAXFIELD RESEARCH & CONSULTING, LLC <br /> <br />