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RENTAL MARKET ANALYSIS <br />ranite Shores <br />/ans Meadows <br />ns Park <br />< Crest <br />gewood Manor <br />a Hills Estates <br />Park Estates <br />Ridge Estates <br />moral Apartments <br />Crossings <br />ool Street <br />ver Garden <br />neview <br />ke Orono Estates <br />chman Ridge <br />Depot of Elk River <br />(son Place <br />ee Tree <br />esboro Heights <br />ee Terrace <br />)urn Place <br />Ridge Manor <br />COMMON AREA FEATURES /AMENITIES <br />EXISTING GENERAL OCCUPANCY RENTAL PROJECTS <br />CITY OF ELK RIVER <br />October 2015 <br />w/5 0000000000 <br />CA MY MY MY IU MY MY =Y MY N Y <br />L_JL_JL I JL I JL_jl UG llincluded <br />�I � �I �I � AG Included <br />���I �I � UG Indluded <br />�I ��I �I � DG Included <br />�I ��I �I � DG Included <br />���I �I � DG Included <br />�I � �I �I � DG Included <br />�I �I � DG Included <br />Di 0 Di Di 0 DG $so <br />ELI===== <br />ncluded <br />�I � �I �I � UG Included <br />EI Q EI EI Q UG ncluded <br />FA/DG <br />E = E E = DG $45 <br />E =E E = DG ncluded <br />ote: Y= Available, N =Not Available; 1= Included <br />4= Central Air; W =Wall unit air; S =Some units; DG= Detached Garage; UG= Underground; AG= Attached Garage; O= Offstreet; U =1n -unit; HU= Hook -ups; <br />ISource: Maxfield Research & Consulting, LLC <br />Along with income limits for residents, the projects have maximum rents that are based on <br />a percentage of median income — usually 60% of median income. Rents at the affordable <br />projects range from $695 to $800 for one - bedroom units, from $70 to $900 for two - <br />bedroom units, and from $899 to $1,025 for three - bedroom units. These rents are similar <br />to many of the market rate projects, and there is likely some market overlap. <br />MAXFIELD RESEARCH & CONSULTING, LLC. 46 <br />Utilities <br />and Parking <br />r <br />c <br />0 <br />E <br />a <br />a <br />a <br />T <br />y <br />� <br />V <br />7 <br />Y <br />Y <br />L_JL_JL I JL I JL_jl UG llincluded <br />�I � �I �I � AG Included <br />���I �I � UG Indluded <br />�I ��I �I � DG Included <br />�I ��I �I � DG Included <br />���I �I � DG Included <br />�I � �I �I � DG Included <br />�I �I � DG Included <br />Di 0 Di Di 0 DG $so <br />ELI===== <br />ncluded <br />�I � �I �I � UG Included <br />EI Q EI EI Q UG ncluded <br />FA/DG <br />E = E E = DG $45 <br />E =E E = DG ncluded <br />ote: Y= Available, N =Not Available; 1= Included <br />4= Central Air; W =Wall unit air; S =Some units; DG= Detached Garage; UG= Underground; AG= Attached Garage; O= Offstreet; U =1n -unit; HU= Hook -ups; <br />ISource: Maxfield Research & Consulting, LLC <br />Along with income limits for residents, the projects have maximum rents that are based on <br />a percentage of median income — usually 60% of median income. Rents at the affordable <br />projects range from $695 to $800 for one - bedroom units, from $70 to $900 for two - <br />bedroom units, and from $899 to $1,025 for three - bedroom units. These rents are similar <br />to many of the market rate projects, and there is likely some market overlap. <br />MAXFIELD RESEARCH & CONSULTING, LLC. 46 <br />