2. HRSR 02-01-2016 - Laserfiche WebLink

Home Browse Search

RENTAL MARKET ANALYSIS TABLE RMA-2 COMMON AREA FEATURES/AMENITIES EXISTING GENERAL OCCUPANCY RENTAL PROJECTS CITY OF ELK RIVER October 2015 In Unit/Comnon Area Amenities Utilities and Parking :c- .... �, o £ £ m o o. `y G O N Q. .G C al O: r N W C i4iaI : "D G o w > Y u °1 N w Y V. Projects E. ° ° x ° 3 F v 010 0. I Q o a 3 J W 8 Cr:ii 6 _ O. W 2 W Market Rate Rental Granite Shores Cent. o n O m I Y II Y I Q 1313 Y II 1111E= UG Included Evans Meadows W MI ( Y II Y 11131 manna Y Fin 0 n 0 1 I I I I AG Included Lions Park CA 13 13 © © 13 13 © 13 13 N Nor I I n UG Indluded Oak Crest W ©p 1 13 13 13 13 © 13 El in 0 n 0 1111 n DG Included Ridgewood Manor W Q © 0 13 13 13 © 13 13 Fin I 0 n 0 IO n DG Included Tara Hills Estates © 13 13 13 13 13 I N 11©1 N 113 N n 1 I 0 0 n DG Included Elk Park Estates W © © 13 13 1 N 1 13 1© 13 13 Y 0 I 10 Q I�7I DG Included Elk Ridge Estates W 13 13 13 10 1313 © 131 N 1 N IOI I LI 0 0 I an DG Included Balmoral Apartments W Q © Q 13 13 13 13 13 13 N I I u 0 0 I 1 DG $25 Elk Crossings W 111171113 13 13 131 N 13 13 N 0=mil I I LI DG $50 School Street W p 1313 El 13 © © 1313 M 0=0 0 n DG $50 River Garden W Q ©I S 113 13 13 111© © 13 © 0 n 0 0 II-7 D6 $50 Pineview W © Q © ©I N 113 © 13113 N QI I001 I DG $50 Lake Orono Estates W/5 13 1©1 N 1(110 13 13 ©1 ' 1 13 Y 0 I 10 0 I] DG $35 Affordable/Subsidized Rental Coachman Ridge CA Q © 13 m 13 1 ©I N I Y rn 0 sin UG Included The Depot of Elk River CA Q © Q m Q © © 13 © 0 Q 0 0 n UG Included Jackson Place CA p 13 CI I IU 1 E1 1 Y 1 113 13 13 1113 01 111111117 UG Included Dove Tree W Q 1111 © 13 I N 113 l N I 1 N 1 13 © 1E11-11111117-1 �I I l 1 I 11 1 11 n--1 A/DG $45/$55 Lanesboro Heights W unman 13 13 1© 13 13 © I 1 n 0 0 I I DG $30 Dove Terrace W 13 13 El Q 131 131 1 N 1 131© N O n 0 0 n DG $45 Auburn Place W 13 13 1 N 1 13 13 I "1 1© 13 13 ©I 0 n 0 0 a 06 $40 Elk Ridge Manor CA I N 1 1313 11313113 © 13 © O In 0 0 n 06 Included Note: Y=Available,N=Not Available;1=Included CA=Central Air;W=Wall unit air;S=Some units;DG=Detached Garage;UG=Underground;AG=Attached Garage;0=0ffstreet;IU=ln-unit;HU=Hook-ups; C=Common Source:Maxfield Research&Consulting,LLC • Along with income limits for residents, the projects have maximum rents that are based on a percentage of median income—usually 60%of median income. Rents at the affordable projects range from $695 to $800 for one-bedroom units, from $70 to $900 for two- bedroom units, and from $899 to $1,025 for three-bedroom units. These rents are similar to many of the market rate projects, and there is likely some market overlap. MAXFIELD RESEARCH&CONSULTING,LLC. 46