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8.1 HRA Handout 03-03-2025
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8.1 HRA Handout 03-03-2025
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3/4/2025 8:40:02 AM
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City Government
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3/3/2025
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• Rental Market Analysis <br />o Vacancy Rate <br />■ Elk River: 3.2% <br />■ Sherburne:3.1% <br />■ Industry Standard: 5% <br />o Median Contract Rent 2024 (all types) <br />■ Elk River: $1,096 <br />■ Sherburne County: $1,053 <br />• Existing Senior Housing in Elk River: 530 <br />o Active Adult: 323 <br />■ Subsidy:139 <br />• Angel Ridge: 53 <br />• Guardian Oaks: 63 <br />• Elk Terrace: 23 <br />■ Owner Occupied: 124 <br />• Pullman Place: 65 <br />• Elk Run Village: 59 <br />■ Market Rate: 60 <br />• Evans Park: 36 <br />• Riverview Apartments: 24 <br />o Independent Living (with services): 37 <br />■ Elk River Senior Living: 37 <br />o Assisted Living: 96 <br />■ Elk River Senior Living: 36 <br />■ Guardian Angels by the Lake: 60 <br />o Memory Care: 74 <br />■ Elk River Senior Living: 24 <br />■ Beehive Homes: 20 <br />■ Guardian Angels by the Lake: 30 <br />
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