REPORT
MARKET STUDY
May 14, 2023
Houston Lake Homes
1705 Houston Lake Road
Perry, GA 31069
For
Brian Parent
4110 Southpoint Blvd., Suite 206
Jacksonville, FL 32216
And
Georgia Department of Community Affairs
60 Executive Park South, N.E.
Atlanta, Georgia 30329-2231
Prepared By:
Gibson Consulting, LLC
1651 E 70th ST, PMB 403
Shreveport, LA 71105-5115
Gibson.gibco@fgibsonconsulting.com
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A. TABLE OF CONTENTS
B. EXECUTIVE SUMMARY ................................................................................................................. 3
1. DESCRIPTION .......................................................................................................................................... 3
2. SITE DESCRIPTION ................................................................................................................................. 5
3. MARKET AREA DEFINITION .................................................................................................................... 6
PRIMARY MARKET AREA MAP ................................................................................................................... 7
4. COMMUNITY DEMOGRAPHIC DATA ........................................................................................................ 8
5. ECONOMIC DATA .................................................................................................................................... 8
6. PROJECT SPECIFIC AFFORDABILITY AND DEMAND ANALYSIS: ............................................................... 8
7. COMPETITIVE RENTAL ANALYSIS ......................................................................................................... 10
8. ABSORPTION/STABILIZATION ESTIMATE .............................................................................................. 11
9. OVERALL CONCLUSION ........................................................................................................................ 11
C. PROJECT DESCRIPTION .................................................................................................................. 14
D. SITE EVALUATION ............................................................................................................................ 16
2. SITE AND NEIGHBORHOOD PHOTOS ...................................................................................................... 17
3. MAPS AND SERVICES. ........................................................................................................................... 23
LOCATION MAP ........................................................................................................................................ 24
SERVICES MAP ......................................................................................................................................... 25
SURVEYED COMPLEXES MAP INCLUDING LOW INCOME .......................................................................... 27
E. MARKET AREA ................................................................................................................................... 29
Primary Market Area Map .................................................................................................................. 30
F. COMMUNITY DEMOGRAPHIC DATA ........................................................................................... 31
METHOD OF ANALYSIS ...................................................................................................................... 32
DEMOGRAPHIC SUMMARY ........................................................................................................................ 35
1. POPULATION TRENDS ................................................................................................................ 38
TOTAL POPULATION .......................................................................................................................... 38
POPULATION DETAILS ....................................................................................................................... 39
2. HOUSEHOLD TRENDS ....................................................................................................................... 40
PERSONS PER HOUSEHOLD .............................................................................................................. 40
HOUSEHOLD GROWTH ....................................................................................................................... 41
HOUSEHOLDS BY HOUSEHOLD INCOME ....................................................................................... 42
RENTER HOUSEHOLDS BY HOUSEHOLD SIZE ............................................................................................ 44
AGE OF HOUSING ................................................................................................................................ 45
HOUSING UNIT CHARACTERISTICS ................................................................................................ 46
G. EMPLOYMENT TREND ..................................................................................................................... 47
2. TOTAL JOBS BY INDUSTRY ............................................................................................................... 49
EMPLOYMENT TRENDS ............................................................................................................................. 51
H. PROJECT-SPECIFIC AFFORDABILITY & DEMAND ANALYSIS ............................................ 59
LIHTC REQUIREMENTS............................................................................................................................ 59
MAXIMUM RENTS ..................................................................................................................................... 59
LIHTC INCOME LIMITS ............................................................................................................................ 60
I. COMPETITIVE RENTAL ANALYSIS (EXISTING COMPETITIVE RENTAL
ENVIRONMENT) ...................................................................................................................................... 71
Map of Surveyed Complexes ............................................................................................................... 73
CHART OF SURVEYED COMPLEXES ............................................................................................. 74
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J. ABSORPTION AND STABILIZATION RATES ............................................................................... 76
ABSORPTION ANALYSIS.................................................................................................................... 76
MARKET IMPACT STATEMENT ........................................................................................................ 77
K. INTERVIEWS ....................................................................................................................................... 78
L. CONCLUSIONS AND RECOMMENDATION ............................................................................ 79
M. SIGNED STATEMENT REQUIREMENTS .................................................................................. 80
DATA SOURCES ....................................................................................................................................... 81
APPENDICES ............................................................................................................................................ 82
COMPLEXES SURVEYED ........................................................................................................................... 83
MARKET STUDY TERMINOLOGY ............................................................................................................... 84
DEMOGRAPHIC DATA ............................................................................................................................... 85
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B. EXECUTIVE SUMMARY
1. Description
The project is a new construction development of housing for general occupancy that will be built
with LIHTC financing.
1. The site is located at 1705 Houston Lake Rd, Perry, Houston County, GA
2. Project Construction Type: New Construction
3. Occupancy Type: Families
4. Special Population Target: n/a
5. Units by bedroom type and income targeting (AMI)
Bedrooms
Baths
AMI Level *
1
1
50%
3
2
50%
4
2
50%
1
1
80%
3
2
80%
4
2
80%
1
1
60%
3
2
60%
4
2
60%
TOTAL
6. Unit size, number of bedrooms and structure type:
Bedrooms
Baths
# of Units
Sq. Feet
1
1
5
850
3
2
23
1500
4
2
22
1520
TOTAL
50
STRUCTURE TYPE :walk-up
7. Rents and Utility allowances
UNIT CONFIGURATION
Bedrooms
Baths
# of Units
AMI Level *
Sq. Feet
Net Rents
Utility Allow.
Gross Rents
1
1
2
50%
850
636
114
750
3
2
13
50%
1500
844
181
1025
4
2
13
50%
1520
927
223
1150
1
1
1
80%
850
936
114
1050
3
2
3
80%
1500
1219
181
1400
4
2
2
80%
1520
1327
223
1550
1
1
2
60%
850
806
114
920
3
2
7
60%
1500
1019
181
1200
4
2
7
60%
1520
1102
223
1325
TOTAL
50
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UTILITY RESPONSIBILITY
UTILITY RESPONSIBILITY (Check Box of Responsible Party)
Party
Water/Sw
Trash
Electricity
Elec Heat
Gas Heat
Water Heat
Cooking (G/E)
Landlord
X
Tenant
X
X
X
X
X electric
8. Existing or proposed project based rental assistance: NONE
9. Proposed Development Amenities:
The amenities are superior to the market.
10. Project is not rehab.
11. Projected placed in-service date:10-1-2025.
The units will be constructed using LIHTC financing and therefore the tenants will have income
restrictions and there will be rent limits.
Range ( X )
Refrigerator ( X )
D
ishwasher (X )
Disposal ( X ) Security Gate ( )
Business Center ( )
Carpet ( ) Computer Center ( )
A/C-Wall ( ) Car Wash Area ( )
Picnic Area ( )
Craft Room ( )
Cable Sat Provided ( )
Library ( )
Wheelchair ramps ( ) I
nternet Provided ( ) Vaulted Ceilings ( ) Storage ( )
Safety bars ( ) Cable Sat Wired (X ) Internet Wired ( x ) View ( )
Pets Allowed ( X ) Hardwood Flooring ( ) Vinyl Flooring (X ) LVP Other* ( X )
Pet Fee (X ) *Detail "Other" Amenities:
Pet Rent ( )
Playground ( X )
Tennis Court ( )
UNIT AND PROJECT AMENITIES
Jacuzzi/Sauna ( )
Microwave Oven (X )
A/C-Central (X )
Window Blinds ( X )
On-site Maint. ( x )
Elevator ( )
Fitness Center ( )
Swimming Pool ( )
W/D Hookups ( X )
Security Syst. ( )
Furnishings ( )
Sports Court ( )
Wash/Dryer (X )
E-Call Button ( )
Patio/Balcony ( X )
Ceiling Fan ( X )
Fireplace ( )
Basement ( )
Intercom ( )
attached garage
Lake/Pond ( )
Laundry Facility ( )
Club House (X )
Community Facility ( )
On-site Mgt. ( x )
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2. Site Description
The site is a developed urban site that is mildly sloping. It is approximately 30.25acres of vacant
land. The area is residential and commercial. There are no obvious environmental or other visible
concerns. Adjoining east is residential; adjoining north is residential; adjoining west is commercial
and vacant; adjoining south is Houston Lake Road, followed by residential.
The site will have frontage access on Houston Lake Road.
The site will make a good location for affordable rental housing.
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3. Market Area Definition
The Primary Market Area (PMA) is the geographic area from which the property is expected to
draw 85% of its residents. We determined the PMA for the project to be an area encompassed by
the boundaries of the following census tracts.
The map below shows the boundaries of the PMA. The site is approximately 12 miles from the
farthest boundary of the PMA. The use of census tracts is appropriate for this type of housing in
this urban area. The site is located in the central part of the PMA and is expected to attract
applicants from the entire county.
Tract County FIPS code
211.08 Houston County 13153021108
211.14 Houston County 13153021114
211.15 Houston County 13153021115
212.03 Houston County 13153021203
212.04 Houston County 13153021204
212.05 Houston County 13153021205
212.06 Houston County 13153021206
213 Houston County 13153021300
214.01 Houston County 13153021401
214.02 Houston County 13153021402
215.01 Houston County 13153021501
215.02 Houston County 13153021502
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Primary Market Area Map
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4. Community Demographic Data
Households and population have increased since 2000 as shown in the charts in the body of the
report. Rental rates are increasing, and household incomes are increasing in the area. There should
be no impact to the project of foreclosed, abandoned and vacant single family and multi-family
homes and commercial properties in the PMA.
5. Economic Data
The County unemployment rate declined to 3.1% in March 2023, from 3.7% in 2021 and up from
3.0% in March of 2022. The annualized total employment increased 1.9% in 2019, decreased by
2.7% in 2020, increased 2.4% in 2021 and declined 0.1% in 2022. The annualized unemployment
rate decreased 0.7% in 2019, increased 1.7% in 2020, decreased 1.5% in 2021 and decreased 0.6%
in 2022. Total employment in March 2023 has increased by 702 over annualized 2022. The large
decrease in employment in 2020 was due to the COVID-19 safer at home actions taken by the
state.
The area has a concentration of employment in the manufacturing, educational services and retail
sectors. These jobs have incomes that would make the worker eligible for the proposed housing.
Current employment is increasing in these areas.
A review of the commuting patterns shows that 48.83% of those working in Houston County do
not live in Houston County. This may be due to a lack of decent affordable housing.
The increases in the numbers of employed will cause upward pressure on rents and occupancy
levels as people are able to improve their housing situations. New households will be formed as a
result of the increased employment. The employment conditions and trends are supportive of the
need for more affordable housing.
6. Project Specific Affordability and Demand Analysis:
In the body of the report we provide detailed calculations of demand by unit size and income level.
The affordability analysis shows the proposed project to be in compliance with LIHTC and DCA
requirements for affordability. The capture rate analysis chart summarizes the demand.
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Based upon all of the data and field work, it is our opinion that the capture rates are achievable.
AMI
Income
Limits
Unit Size
Units
Proposed
Total
Demand
Supply
Net
Demand
Capture
Rate
Absorption
Average
Market
Rent
Market
Rents Band
Min-Max
Proposed
Rents
50% AMI
25714
32950 1BR 2 236 236 0.85% <6 months $ 1,200 1025-1343 $636
35143
44450 3BR 13 191 191 6.81% <6 months $ 1,500 1170-2030 $844
39429
47750 4BR 13 171 171 7.62% <6 months $ 1,600 1170-2030 $927
80% AMI
36000
52720 1BR 1 342 342 0.29% <6 months $ 1,200 1170-2030 $936
48000
71120 2BR 3 468 468 0.64% <6 months 1,500$ 1170-2030 $1,219
53143
76400 3BR 2 471 471 0.42% <6 months 1,600$ 1170-2030 $1,327
60%AMI
31543
39540 1BR 2 206 206 0.97% <6 months 1,200$ 1025-1343 $806
41143
53340 2BR 7 249 249 2.81% <6 months 1,500$ 1170-2030 $1,019
45429
57300 3BR 7 241 241 2.90% <6 months 1,600$ 1170-2030 $1,102
TOTAL 50% AMI 28 565 0
565 4.96% <6 months
FOR 80% AMI 6 821 0
821 0.73% <6 months
60% AMI 16 568 0
568 2.82%
PROJECT
TOTAL
LIHTC
50 1,145 0
1,145 4.37% <6 months
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7. Competitive Rental Analysis
In the demographics section of the report, we include detailed information on the existing housing
stock for the PMA. The renter percentage is 22.73% which is low. One-unit detached homes make
up 83.52% of the housing units, while units while structures with 5 or more units make up 6.39%
of the housing units. Mobile Homes or Trailers make up 6.55% of the units.
We surveyed 12 complexes with a total of 1,385 units. This include 5 reported LIHTC projects
with a total of 396 units and 7 market rate and other subsidized units with a total of 989 units. The
LIHTC complexes had occupancy of 97.98%, while the other units had occupancy of 98%. The
overall occupancy rate is 97.98%. The amenities in the majority of the market rate units surveyed
are equal or inferior to the proposed units. Almost all of the complexes surveyed reported that they
had waiting lists of applicants. Some of the rental units are aging with complexes built in the 1970s
and 1980s. There are market rate multifamily units that are comparable to the subject. We
contacted real estate agents and researched rental properties online and found that homes and
mobile homes rent quickly. Based upon this information and assessing the amenities and features
of the proposed complex, we have determined the market rates to be $1,200 for one-bedroom units,
$1,500 for three-bedroom units and $1,600 for four-bedroom units. The chart below compares the
subject rents to the LIHTC maximums and the net market rent.
UNIT
LIHTC
MAX
RENT
UA
NET
LIHTC
RENT
MAX
PROPOSED
LIHTC
RENT
Net
Market
Rent
Advantage
over
market
1 Bedroom--50% AMI
772
$114
658
$636
1200
88.7%
3 Bedroom--50%AMI
1070
$181
889
$844
1500
77.7%
4 Bedroom--50% AMI
1193
$223
970
$927
1600
72.6%
1 Bedroom--80%AMI
1236
$114
1122
$936
1200
28.2%
3 Bedroom--80% AMI
1712
$181
1531
$1,219
1500
23.1%
4 Bedroom--80% AMI
1910
$223
1687
$1,327
1600
20.6%
1 Bedroom 60% AMI
927
$114
813
$806
1200
48.9%
3 Bedroom 60% AMI
1284
$181
1103
$1,019
1500
47.2%
4 Bedroom 60% AMI
1432
$223
1209
$1,102
1600
45.2%
The proposed project should not have any adverse impact on other affordable housing in the area,
including DCA projects. All of the properties surveyed had sustaining occupancy and most had
waiting lists.
In the last five years, rental rates and occupancy levels have been increasing. Rental trends in the
area include rising rents and level occupancy in the 95-100% range. We project rents to increase
3% per year for the next two years and we project occupancy to be stable, with slight
improvements. Foreclosures and abandoned homes are not a factor for this development due to the
high rental occupancy in the area. There is no way at this point in time to determine the effect, if
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any, of the COVID-19 pandemic upon the future economy and rental and occupancy rates.
Generally, during economic downturns, the need for affordable housing increases.
There are two housing voids in Houston County. The first is new market rate housing for general
occupancy. The income levels are sufficient to support this type of rental housing yet there is still
a large demand for it. The second is affordable housing for families. This project will help fill the
void for decent affordable housing for families but not for market rate housing.
8. Absorption/Stabilization Estimate
We project the following absorption (i.e. leasing) of the new units:
Date
Total #
Leased
%
Construction Completion
4
8%
30 Days Post Completion
12
24%
60 Days Post Completion
20
40%
90 Days Post Completion
28
56%
120 Days Post Completion
36
72%
150 Days Post Completion
44
88%
180 Days Post Completion
50
100%
The absorption rate is estimated to be 8 units per month, based upon the interviews with the
property managers. Preleasing is projected to result in 4 units rented during construction. 93%
occupancy should be achieved approximately 180 days after construction completion.
9. Overall Conclusion
We recommend that the proposed project be awarded an allocation of Low-Income Housing Tax
Credits based upon our review and analysis of current market conditions, economics,
demographics, current occupancy of existing complexes and supply and demand estimates. The
proposed design and amenities will enhance the relative marketability.
The site has no adverse conditions and is marketable. There is very little comparable in the area,
so the complex will be able to operate as the nicest rental complex available. The standard
calculated capture rate for each type of unit is within DCA guidelines for feasibility in a rural area.
We project the units will be absorbed fully within 180 days of completion. The new units will have
an advantage over other units in the area due to a superior amenities package.
The high occupancy rates, waiting lists, acceptable capture rates and interviews with local persons
knowledgeable about the housing needs of the area were the major factors that led to these
conclusions.
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The proposed project when completed will have no appreciable impact on the tax credit and other
existing affordable housing in the area. It will have a positive impact on those that are seeking
affordable housing in that they will have an additional choice and availability that prior to the
completion they will not have. As with any new addition or newly rehabilitated units to a market,
this complex may cause other properties to provide a better product and a higher level of customer
service and appreciation.
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50
50
12
#
Units
#
Beds
#
Baths
2 1 1
13 3 2
13 4 2
1 1 1
3 3 2
2 4 2
2 1 1
7 3 2
7 4 2
$ 1.36
$ 1.36
$ 1.36
$ 1.36
$ 1.40
$ 1.36
$ 1.36
$ 1.40
47%
45%
$ 2,030
$ 2,030
$ 1,343
$ 2,030
$ 2,030
$ 1,343
$ 2,030
$ 2,030
$1,219
$1,327
$806
23%
21%
49%
$ 1,500
$ 1,600
$ 1,200
$1,019
$1,102
4.37%
$ 1,500
$ 1,600
$ 1.00
$ 1.05
$ 1.41
$ 1.00
$ 1.05
$ 1.41
$ 1.00
$ 1.05
$ 1,500
$ 1,600
$ 1,200
78%
73%
28%
$844
$927
$936
2023 Market Study Manual DCA Housing Finance and Development Division 3 of 10
1500
1520
850
1500
1520
850
1500
1520
Capture Rate
4.96%
0.73%
2.82%
CAPTURE R
ATES (found on page
)
Targeted Population
50%
80%
60%
Market
Rate
Market
Rate
Overall
LIHTC
Per SF
850
$636
$ 1,200
$ 1.41
89%
$ 1,343
$ 1.40
Size
(SF)
Proposed
Rent
Per
Unit
Per
SF
Adv an
-tage
Per Unit
Properties in Construction &
Lease Up
Subject Development
Average Market Rent
Highest Unadjusted
Comp Rent
LIHTC
5
396
8
97.98%
Stabilized Comps
5
396
8
97.98%
Market-Rate Housing
5
846
19
97.75%
Assisted/Subsidized Housing not
to include LIHTC
2
143
1
99.30%
T ype
# Properties
Total
Units
Vacant Units
Average
Occupancy
All Rental Housing
12
1,385
28
97.98%
PMA Boundary:
Listed census tracts
South Boundary Line
Farthest Boundary Distance to
Subject:
miles
RENTAL HOUSING STOCK (found on page
)
Summary T able :
Development Name:
Houston Lake Homes
Total # Units:
Location:
1705 Houston Lake Road, Perry, GA
# LIHTC Units:
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C. PROJECT DESCRIPTION
The project is a new construction development of housing for general occupancy that will be built
with LIHTC financing.
1. The site is located at 1705 Houston Lake Rd, Perry, Houston County, GA
2. Project Construction Type: New Construction
3. Occupancy Type: Families
4. Special Population Target: n/a
5. Units by bedroom type and income targeting (AMI)
Bedrooms
Baths
AMI Level *
1
1
50%
3
2
50%
4
2
50%
1
1
80%
3
2
80%
4
2
80%
1
1
60%
3
2
60%
4
2
60%
TOTAL
1. Unit size, number of bedrooms and structure type:
Bedrooms
Baths
# of Units
Sq. Feet
1
1
5
850
3
2
23
1500
4
2
22
1520
TOTAL
50
STRUCTURE TYPE :walk-up
2. Rents and Utility allowances
UNIT CONFIGURATION
Bedrooms
Baths
# of Units
AMI Level *
Sq. Feet
Net Rents
Utility Allow.
Gross Rents
1
1
2
50%
850
636
114
750
3
2
13
50%
1500
844
181
1025
4
2
13
50%
1520
927
223
1150
1
1
1
80%
850
936
114
1050
3
2
3
80%
1500
1219
181
1400
4
2
2
80%
1520
1327
223
1550
1
1
2
60%
850
806
114
920
3
2
7
60%
1500
1019
181
1200
4
2
7
60%
1520
1102
223
1325
TOTAL
50
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UTILITY RESPONSIBILITY
UTILITY RESPONSIBILITY (Check Box of Responsible Party)
Party
Water/Sw
Trash
Electricity
Elec Heat
Gas Heat
Water Heat
Cooking (G/E)
Landlord
X
Tenant
X
X
X
X
X electric
6. Existing or proposed project based rental assistance: NONE
7. Proposed Development Amenities:
The amenities are superior to the market.
8. Project is not rehab.
9. Projected placed in-service date:10-1-2025.
The units will be constructed using LIHTC financing and therefore the tenants will have income
restrictions and there will be rent limits.
Range ( X )
Refrigerator ( X )
D
ishwasher (X )
Disposal ( X ) Security Gate ( )
Business Center ( )
Carpet ( ) Computer Center ( )
A/C-Wall ( ) Car Wash Area ( )
Picnic Area ( )
Craft Room ( )
Cable Sat Provided ( )
Library ( )
Wheelchair ramps ( ) I
nternet Provided ( ) Vaulted Ceilings ( ) Storage ( )
Safety bars ( ) Cable Sat Wired (X ) Internet Wired ( x ) View ( )
Pets Allowed ( X ) Hardwood Flooring ( ) Vinyl Flooring (X ) LVP Other* ( X )
Pet Fee (X ) *Detail "Other" Amenities:
Pet Rent ( )
Playground ( X )
Tennis Court ( )
UNIT AND PROJECT AMENITIES
Jacuzzi/Sauna ( )
Microwave Oven (X )
A/C-Central (X )
Window Blinds ( X )
On-site Maint. ( x )
Elevator ( )
Fitness Center ( )
Swimming Pool ( )
W/D Hookups ( X )
Security Syst. ( )
Furnishings ( )
Sports Court ( )
Wash/Dryer (X )
E-Call Button ( )
Patio/Balcony ( X )
Ceiling Fan ( X )
Fireplace ( )
Basement ( )
Intercom ( )
attached garage
Lake/Pond ( )
Laundry Facility ( )
Club House (X )
Community Facility ( )
On-site Mgt. ( x )
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D. Site Evaluation
1. The site visit including comparable market area developments was made on May 12, 2023
by Debbie Amox.
2. The site is a developed urban site that is mildly sloping. It is approximately 30.25 acres of
vacant land. The area is residential and commercial. There are no obvious environmental
or other visible concerns. Adjoining east is residential; adjoining north is residential;
adjoining west is commercial and vacant; adjoining south is Houston Lake Road, followed
by residential.
3. The site will have frontage access on Houston Lake Road.
4. The site will make a good location for affordable rental housing.
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2. Site and Neighborhood Photos
All photographs were taken May 12, 2023.
Neighborhood view east
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Neighborhood view north
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Neighborhood view South
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Neighborhood view west
View east to west
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View north to south
View south to north
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View west to east
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3. Maps and services.
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Location Map
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Services Map
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Service
Name/Address
Distance
Full-Service Grocery Store
Publix Super Market
275 Perry Parkway
0.7
Perry
Pharmacy/Drug Store
Publix Pharmacy
275 Perry Parkway
0.7
Perry
Doctor's Office/Emergency
Houston Healthcare-Perry
Clinic/Urgent Care Facility/
1120 Morningside Dr
0.6
Hospital
Perry
Shopping Center
Paradise Shops of Perry
275 Perry Parkway
0.7
Perry
Bank
Synovus Bank
916 Main Street
1
Perry
Public School
Perry High School
1307 North Ave
0.5
Perry
All of the above services and amenities are also employment opportunities.
1. The site is a developed urban site that is mildly sloping. It is approximately 30.67 acres of
vacant land. The area is residential and commercial. There are no obvious environmental
or other visible concerns. Adjoining east is residential; adjoining north is residential;
adjoining west is commercial and vacant; adjoining south is Houston Lake Road, followed
by residential.
2. According to information from neighborhoodscout.com, the crime index is 43. This should
not be a negative marketing factor and this new housing will improve the area.
3. See map below that shows existing low-income housing.
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Surveyed Complexes Map Including Low Income
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4. There are no known road or infrastructure improvements planned or under construction in the area of the
site.
5. Ingress and egress and access to the site is excellent via the hard-surfaced street that it faces. Pedestrian
access is from the unpaved road right of way. Visibility from the access street will be excellent.
6. There are no obvious environmental or other visible concerns. The site is well located for an affordable
housing development for families. Proximity to services is good and visibility is excellent. The site should
attract those seeking this type of housing.
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E. MARKET AREA
The Primary Market Area (PMA) is the geographic area from which the property is expected to
draw 85% of its residents. We determined the PMA for the project to be an area encompassed by
the boundaries of the following census tracts.
The map below shows the boundaries of the PMA. The site is approximately 12 miles from the
farthest boundary of the PMA. The use of census tracts is appropriate for this type of housing in
this urban area. The site is located in the central part of the PMA and is expected to attract
applicants from the entire county.
Tract County FIPS code
211.08 Houston County 13153021108
211.14 Houston County 13153021114
211.15 Houston County 13153021115
212.03 Houston County 13153021203
212.04 Houston County 13153021204
212.05 Houston County 13153021205
212.06 Houston County 13153021206
213 Houston County 13153021300
214.01 Houston County 13153021401
214.02 Houston County 13153021402
215.01 Houston County 13153021501
215.02 Houston County 13153021502
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Primary Market Area Map
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F. COMMUNITY DEMOGRAPHIC DATA
Gibson Consulting, LLC, Phone Number (318) 524-0177 was retained by the developer to provide a market
analysis that could be used to ascertain whether the project as proposed would have a likelihood of success.
In performing a market analysis, the analyst must perform a field study, the market must be defined, suitable
data must be obtained from Census and other sources, interviews must be conducted, competing properties
must be surveyed, and any special requirements of lenders or allocating agencies must be addressed. The
report should be taken as a whole, which forms the basis of the opinion expressed by the analyst.
As an appendix we have attached a market study terminology section for the reader’s use.
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METHOD OF ANALYSIS
The purpose of a market analysis is to objectively and professionally analyze the potential success of a
remodeled and refreshed or newly constructed housing development. Typically an affordable housing
development must maintain approximately 85-90% occupancy in order to be successful. Income and rent
restrictions placed upon the project by utilization of the LIHTC program make necessary a specific analysis
of the affordable housing market, not simply a study of the general housing market. The general rental housing
market in a market area may reveal that the existing rental units have low occupancy or high occupancy.
Vacancy rates alone are not sufficient for analyzing the need for affordable housing. For example, vacancies
may be high in a market area, but there may be an overwhelming need for additional affordable units. If the
units with vacancies are not affordable to LIHTC qualified applicants, those units are not serving the target
market. Therefore, introduction of additional affordable housing units may be advisable without affecting the
vacancies at the existing units. Conversely, low vacancy rates themselves are not necessarily indicative of
the need for additional affordable housing. The nature of the rental rates, occupancy demographics and other
factors such as services and amenities are also contributing factors to the overall need for affordable housing.
The mere existence of a property does not make it comparable or a factor in the analysis of the market. The
characteristics of the property are the determinant of whether the review of it is relevant to the report.
The source of residents and the need for additional housing units may come from:
1. New Households
By definition, households need housing to be a household. Household creation in a market area will create a
need for housing units. The trend in Georgia (as well as most other states) since 1970 has been that the
household contains fewer persons. In other words, household size is decreasing. Because of this fact, even
if a market area experiences negative population growth the number of households may increase due to the
shrinking number of persons per household. The projected household growth, rather than simple population
change is the factor that affects demand for housing.
2. Inadequate Supply of Existing Affordable Housing
A shortage of housing that is in the affordable range for LIHTC eligible renters may mean that these persons
are living in households with other family members. The simple fact of unavailability of sufficient affordable
housing means that an increase in supply of affordable housing will be utilized by those that are not currently
able to acquire housing in the existing overpriced market. Lower income families generally pay a higher
percentage of income for shelter when there is a shortage of affordable housing. They may be forced to accept
rent overburden because of this factor. A comparison of the income characteristics of the market area universe
with the rental rates of the market can signal pent-up demand for affordable housing.
3. Substandard and Overcrowded Housing Units
Persons living in overcrowded units or substandard housing are an excellent source of demand for new
affordable housing. A unit may be substandard because of lack of adequate plumbing facilities, or other
factors. An overcrowded unit is generally considered to be a unit that contains more than 1 person per room.
Besides the traditional definitions of substandard, demand for affordable housing can come form those who
simply wish to upgrade their housing conditions. For example, a family receiving housing assistance from a
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Section 8 voucher may be living in a unit that is less desirable and convenient than the new or remodeled
units. They might choose to move to the more desirable unit.
4. Special Needs
Large families, single parent households, elderly, disabled, homeless or handicapped persons are examples of
special needs populations which may be a source of demand for new units. The units that address the special
need may be more desirable than the housing they use now.
5. Population Growth
General population growth will cause a need for additional housing through creation of household growth
(see 1 above).
6. Favorable Comparability of New or Renovated Units
In the first several years of a new or renovated project, there will be a source of demand that comes from
households which would prefer the newer, more modern housing to the older, less modern place they live
now. In every market there is a demand from this group. The market analyst uses the above sources to
calculate a demand for new units in the market area for the proposed first year of operation. The demand
calculated is only demand from income eligible persons. The units in the pipeline as determined from building
permit information reduce the total demand. The penetration of this calculated demand that is necessary for
the new and remodeled units to be successful is determined and used in the final recommendation.
7. Primary Market Area and Secondary Market Area
The market is further analyzed by the analysis of the Primary Market Area (PMA) (Submarket or
Neighborhood) and the Secondary Market Area (SMA) (City, MSA or County). The major reasons for moving
into the subject project are for affordability of the units, safer community environment and to be closer to new
jobs. Demographic information and demand calculations from the PMA form the basis of the
recommendations in the report. The comparable project data are mainly from the PMA since the majority of
the renters in the proposed project should come from the PMA.
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This section of the market study considers housing statistics with the subject’s market area. The market area
is defined as the area in which similar properties compete with the subject property for tenants or homeowners.
The geographic boundaries are determined by physical factors such as highways, water bodies as well as
socioeconomic factors such as traditional neighborhood composition recognized by local residents, average
home prices, and established employment center.
The demographic data was obtained and compiled by Environics Analytics and the United States 2010 and
2020 Census. The current year update is a shorthand term for the massive set of demographic estimates and
projections produced multiple times per year for the Environics Analytics products. Estimates consist of data
prepared for the current year, and projections (sometimes called forecasts) are prepared for dates five years in
the future.
American Community Survey (ACS) estimates are released every year by the Census, and Environics
Analytics continues to make use of ACS estimates of median income and home value to guide estimates at
these levels.
To take full advantage of methodological refinements and new data resources, each set of updates begins not
with the previous year’s estimates, but with data from the most recent decennial census. For this reason, the
difference between estimates for consecutive years is not an estimate of change from one year to the next.
Change is estimated with reference to the previous census numbers.
In the charts that follow, all 2025 projections (year of project entry) are interpolated from the 2023-2028
projections provided by Environics Analytics.
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Demographic Summary
Pop-Facts® Executive Summary | Population & Household
Trade Area: PERRY, GA PMA
POPULATION
The population in this area is estimated to change from 60,532 to 63,998, resulting in a growth of 5.7%
between 2020 and the current year. Over the next five years the population is expected to grow by 8.4%
The population in the base area is estimated to change from 331,449,281 to 334,500,069, resulting in a growth
of 0.9% between 2020 and the current year. Over the next five years, the population is projected to grow by
2.1%.
The current year median age for this area is 38.0, while the average age is 39.1. Five years from now, the
median age is projected to be 39.2.
The current year median age for the base area is 39.2, while the average age is 40.2. Five years from now, the
median age is projected to be 40.3.
Of this area's current year estimated population:
62.3% are White Alone, 26.0% are Black or African American Alone, 0.3% are American Indian and Alaska
Nat. Alone, 2.4% are Asian Alone, 0.1%are Nat. Hawaiian and Other Pacific Isl. Alone, 1.7% are Some Other
Race, and 7.2% are Two or More Races.
Of the base area's current year estimated population:
60.1% are White Alone, 12.5% are Black or African American Alone, 1.2% are American Indian and Alaska
Nat. Alone, 6.2% are Asian Alone, 0.2%are Nat. Hawaiian and Other Pacific Isl. Alone, 9.0% are Some Other
Race, and 10.9% are Two or More Races.
This area's current estimated Hispanic or Latino population is 5.4%, while the base area's current estimated
Hispanic or Latino population is 19.9%.
HOUSEHOLD
The number of households in this area is estimated to change from 22,055 to 23,244, resulting in an increase
of 5.4% between 2020 and the current year. Over the next five years, the number of households is projected
to increase by 8.0%.
The number of households in the base area is estimated to change from 126,817,580 to 128,298,155, resulting
in an increase of 1.2% between 2020 and the current year. Over the next five years, the number of households
is projected to increase by 2.4%.
EDUCATION
Currently, it is estimated that 10.2% of the population age 25 and over in this area had earned a Master's
Degree, 1.3% had earned a Professional School Degree, 1.3% had earned a Doctorate Degree and 19.9% had
earned a Bachelor's Degree.
In comparison, for the base area, it is estimated that for the population over age 25, 9.1% had earned a Master's
Degree, 2.2% had earned a Professional School Degree, 1.5% had earned a Doctorate Degree and 20.2% had
earned a Bachelor's Degree.
INCOME
The average household income is estimated to be $103,630.646 for the current year, while the average
household income for the base area is estimated to be $104,972 for the same time frame.
The average household income in this area is projected to change over the next five years, from $103,630.646
to $111,606.208.
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The average household income in the base area is projected to change over the next five years, from $104,972
to $118,758.
HOUSING
Most of the dwellings in this area (77.3%) are estimated to be Owner-Occupied for the current year. For the
base area the majority of the housing units are Owner-Occupied (64.4%).
The majority of dwellings in this area (83.5%) are estimated to be structures of 1 Unit Detached for the current
year. The majority of the dwellings in the base area (61.4%) are estimated to be structure of 1 Unit Detached
for the same year.
The majority of housing units in this area (28.2%) are estimated to have been Built 2000 to 2009 for the
current year.
The majority of housing units in the base area (14.6%) are estimated to have been Built 1970 to 1979 for the
current year.
LABOR
For this area, PERRY, GA PMA, 96.5% of the labor force is estimated to be employed for the current year.
The employment status of the population age 16 and over is as follows:
2.7% are in the Armed Forces, 61.3% are employed civilians, 2.3% are unemployed civilians, and 33.7%
are not in the labor force.
The occupational classification for this area are as follows:
21.6% hold blue collar occupations, 61.2% hold white collar occupations, and 17.2% are occupied as
service & farm workers.
For the civilian employed population age 16 and over in this area, it is estimated that they are employed in
the following occupational categories: 2.9% are in Architecture and Engineering, 1.7% are in Arts,
Entertainment and Sports, 7.2% are in Business and Financial Operations, 3.7% are in Computers and
Mathematics, 6.0% are in Education, Training and Libraries, 6.5% are in Healthcare Practitioners and
Technicians, 3.4% are in Healthcare Support, 0.7% are in Life, Physical and Social Sciences, 9.0% are in
Management, 13.4% are in Office and Administrative Support.
1.1% are in Community and Social Services, 6.0% are in Food Preparation and Serving, 0.9% are in Legal
Services, 2.6% are in Protective Services, 8.1%are in Sales and Related Services, 2.7% are in Personal Care
Services.
2.4% are in Building and Grounds Maintenance, 4.1% are in Construction and Extraction, 0.3% are in
Farming, Fishing and Forestry, 7.0% are in Maintenance and Repair, 5.0% are in Production, 5.5% are in
Transportation and Moving.
For the base area, USA, 95.3% of the labor force is estimated to be employed for the current year.
The employment status of the population age 16 and over is as follows:
0.4% are in the Armed Forces, 60.1% are employed civilians, 3.0% are unemployed civilians, and 36.5%
are not in the labor force.
The occupational classification for the base area are as follows:
21.3% hold blue collar occupations, 60.5% hold white collar occupations, and 18.2% are occupied as
service & farm workers.
For the civilian employed population age 16 and over in the base area, it is estimated that they are employed
in the following occupational categories: 2.0% are in Architecture and Engineering, 2.0% are in Arts,
Entertainment and Sports, 5.4% are in Business and Financial Operations, 3.3% are in Computers and
Mathematics, 6.2% are in Education, Training and Libraries, 6.1% are in Healthcare Practitioners and
Technicians, 3.3% are in Healthcare Support, 1.0% are in Life, Physical and Social Sciences, 10.6% are in
Management, 11.0% are in Office and Administrative Support.
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1.8% are in Community and Social Services, 5.6% are in Food Preparation and Serving, 1.1% are in Legal
Services, 2.2% are in Protective Services, 9.9% are in Sales and Related Services, 2.7% are in Personal
Care Services.
3.7% are in Building and Grounds Maintenance, 5.1% are in Construction and Extraction, 0.6% are in
Farming, Fishing and Forestry, 3.1% are in Maintenance and Repair, 5.6% are in Production, 7.6% are in
Transportation and Moving.
Source: Environics Analytics
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1. POPULATION TRENDS
a. Total Population
TOTAL POPULATION
PMA
Population
2010 Census
44047
2020 Census
60532
2023 Estimate
63998
2025 Projection
66,145
2028 Projection
69366
Percent Change: 2010 to 2020
37.43%
Percent Change: 2020 to 2023
5.73%
Percent Change: 2020 to 2023
3.36%
Percent Change: 2023 to 2028
8.39%
Annualized change: 2000-2010
3.74%
Annualized change: 2010-2020
0.64%
Annualized change: 2023-2025
1.68%
Annualized change: 2023-2028
1.68%
Change 2000-2010
16485
Change 2010-2020
3466
Change 2023-2025
2147
Change 2023-2028
5368
Source: US Census Database; Environics Analytics, Gibson Consulting, LLC
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b. Population by age group
POPULATION DETAILS
PMA
2023
2025
Population by Age
63,998
0.0%
66,145
Age 0 - 4
3,762
5.9%
3,888
Age 5 - 9
3,982
6.2%
4,116
Age 10 - 14
4,492
7.0%
4,643
Age 15 - 17
2,716
4.2%
2,807
Age 18 - 20
2,482
3.9%
2,565
Age 21 - 24
3,281
5.1%
3,391
Age 25 - 34
8,791
13.7%
9,086
Age 35 - 44
8,043
12.6%
8,313
Age 45 - 54
8,029
12.5%
8,298
Age 55 - 64
8,341
13.0%
8,621
Age 65 - 74
6,157
9.6%
6,364
Age 75 - 84
2,997
4.7%
3,098
Age 85 and over
925
1.4%
956
Age 16 and over
50,865
79.5%
52,572
Age 18 and over
49,046
76.6%
50,692
Age 21 and over
46,564
72.8%
48,126
Age 65 and over
10,079
15.7%
10,417
Est. Median Age
38.04
Est. Average Age
39.06
Persons age 55+
18,420
36.21%
19,038
Source: US Census Database; Environics Analytics, Gibson Consulting, LLC
*Persons age 55+ are 36.21% of the total number of persons age 16+. Since persons under age 16 do not
typically form households, we use this percentage to calculate age 55+ demand.
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2010 Population by Age
Age 0 - 4
2,834
6.43
Age 5 - 9
3,164
7.18
Age 10 - 14
3,434
7.80
Age 15 - 17
2,182
4.95
Age 18 - 20
1,698
3.85
Age 21 - 24
1,867
4.24
Age 25 - 34
5,667
12.87
Age 35 - 44
6,320
14.35
Age 45 - 54
7,219
16.39
Age 55 - 64
4,844
11.00
Age 65 - 74
2,809
6.38
Age 75 - 84
1,522
3.46
Age 85+
487
1.11
Age 15+
34,615
78.59
Age 16+
33,876
76.91
Age 18+
32,433
73.63
Age 21+
30,735
69.78
Age 25+
28,868
65.54
Age 65+
4,818
10.94
Median Age
--
36.95
Source: US Census Database; Environics Analytics, Gibson Consulting, LLC
2. Household Trends
a. Total number of households and average household size
PERSONS PER HOUSEHOLD
PMA
2010 Census
2.71
2020 Census
2.74
2023 Estimate
2.75
2025 Projection
2.76
2028 Projection
2.76
Source: US Census Database; Environics Analytics, Gibson Consulting, LLC
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HOUSEHOLD GROWTH
PMA
Households
2010 Census
16,261
2020 Census
22,055
2023 Estimate
23,244
2025 Projection
23,990
2028 Projection
25,109
Percent Change: 2010 to 2020
35.63%
Percent Change: 2020 to 2023
5.39%
Percent Change: 2020 to 2023
3.21%
Percent Change: 2023 to 2028
8.02%
Annualized change: 2000-2010
3.56%
Annualized change: 2010-2020
0.60%
Annualized change: 2023-2025
1.60%
Annualized change: 2023-2028
1.60%
Change 2000-2010
5,794
Change 2010-2020
1,189
Change 2023-2025
746
Change 2023-2028
1,865
Source: US Census Database; Environics Analytics, Gibson Consulting, LLC
b. Household by tenure
PMA
2010
2023
2025
Total Households
16,261
23,244
23,990
Renter Occupied
3,917
24.09%
5,283
22.73%
5453
Owner Occupied
12,344
75.91%
17,961
77.27%
18537
Source: US Census Database; Environics Analytics, Gibson Consulting, LLC
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c. Households by Income
HOUSEHOLDS BY HOUSEHOLD INCOME
PMA
PMA
2021
%
2023
Total:
21,285
23,244
Owner occupied:
16,292
17,961
Less than $5,000
239
1.47%
263
$5,000 to $9,999
180
1.10%
198
$10,000 to $14,999
220
1.35%
243
$15,000 to $19,999
506
3.11%
558
$20,000 to $24,999
407
2.50%
449
$25,000 to $34,999
727
4.46%
801
$35,000 to $49,999
1,099
6.75%
1212
$50,000 to $74,999
2,350
14.42%
2591
$75,000 to $99,999
2,523
15.49%
2781
$100,000 to $149,999
4,268
26.20%
4705
$150,000 or more
3,773
23.16%
4160
Renter occupied:
4,993
5,283
Less than $5,000
225
4.51%
238
$5,000 to $9,999
197
3.95%
208
$10,000 to $14,999
360
7.21%
381
$15,000 to $19,999
316
6.33%
334
$20,000 to $24,999
302
6.05%
320
$25,000 to $34,999
562
11.26%
595
$35,000 to $49,999
529
10.59%
560
$50,000 to $74,999
870
17.42%
921
$75,000 to $99,999
885
17.72%
936
$100,000 to $149,999
523
10.47%
553
$150,000 or more
224
4.49%
237
Source: U.S. Census Bureau, American Community Survey B25118, Gibson Consulting LLC
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Households by HH Income
2020
Total:
19518
Owner occupied:
15215
77.95%
Less than $5,000
150
0.99%
$5,000 to $9,999
154
1.01%
$10,000 to $14,999
298
1.96%
$15,000 to $19,999
439
2.89%
$20,000 to $24,999
382
2.51%
$25,000 to $34,999
772
5.07%
$35,000 to $49,999
955
6.28%
$50,000 to $74,999
2495
16.40%
$75,000 to $99,999
2587
17.00%
$100,000 to $149,999
3523
23.15%
$150,000 or more
3460
22.74%
Renter occupied:
4303
22.05%
Less than $5,000
178
4.14%
$5,000 to $9,999
379
8.81%
$10,000 to $14,999
307
7.13%
$15,000 to $19,999
247
5.74%
$20,000 to $24,999
327
7.60%
$25,000 to $34,999
585
13.60%
$35,000 to $49,999
429
9.97%
$50,000 to $74,999
687
15.97%
$75,000 to $99,999
702
16.31%
$100,000 to $149,999
290
6.74%
$150,000 or more
172
4.00%
Source: U.S. Census Bureau, American Community Survey b25118
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d. Renter Households by number of persons in the household
Renter Households by Household Size
PMA
2021
%
2023
Total:
21,285
23244
Owner occupied:
16,292
17961
1-person household
3,290
20.19%
3627
2-person household
5,387
33.07%
5939
3-person household
3,489
21.42%
3846
4-person household
2,581
15.84%
2845
5-person household
1,276
7.83%
1407
6-person household
211
1.30%
233
7-or-more person household
58
0.36%
64
Renter occupied:
4,993
0
5283
1-person household
1,653
33.11%
1749
2-person household
1,218
24.39%
1289
3-person household
1,062
21.27%
1124
4-person household
706
14.14%
747
5-person household
102
2.04%
108
6-person household
179
3.59%
189
7-or-more person household
73
1.46%
77
Source: U.S. Census Bureau, 5-Year American Community Survey B25009, Environics Analytics, Gibson Consulting, LLC
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The chart below shows the age of existing housing in the PMA
AGE OF HOUSING
PMA
2023 Est. Housing Units by Year Structure Built
Built 2014 or Later
3,895
15.80
Built 2010 to 2013
1,512
6.13
Built 2000 to 2009
6,944
28.18
Built 1990 to 1999
4,351
17.65
Built 1980 to 1989
2,663
10.80
Built 1970 to 1979
1,970
7.99
Built 1960 to 1969
1,501
6.09
Built 1950 to 1959
993
4.03
Built 1940 to 1949
226
0.92
Built 1939 or Earlier
591
2.40
2023 Housing Units by Year Structure Built
2023 Est. Median Year Structure Built
--
2000
Source: US Census Database; Environics Analytics, Gibson Consulting, LLC
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The chart below shows existing housing characteristics of the market area.
HOUSING UNIT CHARACTERISTICS
PMA
Count
%
2023 Est. Housing Units by Units in Structure
1 Unit Attached
127
0.52
1 Unit Detached
20,585
83.52
2 Units
235
0.95
3 to 4 Units
500
2.03
5 to 19 Units
1,274
5.17
20 to 49 Units
141
0.57
50 or More Units
159
0.65
Mobile Home or Trailer
1,615
6.55
Boat, RV, Van, etc.
10
0.04
Source: US Census Database; Environics Analytics, Gibson Consulting, LLC
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G. Employment Trend
1. Total Jobs:
Houston County
Source: Bureau of Labor Statistics (BLS)
Year
Total Employed
2010
61498
2011
62446
2012
63085
2013
62345
2014
61332
2015
61086
2016
64005
2017
66524
2018
67613
2019
68906
2020
67032
2021
68638
2022
68554
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2. Total Jobs by Industry:
Area Time Period Industry Industry Code Establishments Month 1 Month 2 Month 3 Average Average Weekly Wage
Houston County Q3 2022 Agriculture, Forestry, Fishing and Hunting 11 23 99 101 104 101 $896.00
Houston County Q3 2022 Utilities 22 5 206 206 205 206 $1,389.00
Houston County Q3 2022 Construction 23 204 1,714 1,707 1,718 1,713 $1,112.00
Houston County Q3 2022 Manufacturing 31-33 74 6,027 5,947 5,948 5,974 $1,119.00
Houston County Q3 2022 Wholesale Trade 42 62 377 369 377 374 $1,137.00
Houston County Q3 2022 Retail Trade 44-45 532 7,667 7,755 7,760 7,727 $643.00
Houston County Q3 2022 Transportation and Warehousing 48-49 76 1,137 1,122 1,173 1,144 $1,019.00
Houston County Q3 2022 Information 51 24 292 292 290 291 $1,205.00
Houston County Q3 2022 Finance and Insurance 52 163 1,106 1,106 1,096 1,103 $1,215.00
Houston County Q3 2022 Real Estate and Rental and Leasing 53 111 332 335 279 315 $929.00
Houston County Q3 2022 Professional, Scientific, and Technical Servi 54 376 4,461 4,377 4,396 4,411 $1,618.00
Houston County Q3 2022 Management of Companies and Enterprises 55 13 198 212 224 211 $862.00
Houston County Q3 2022 Administrative and Support and Waste Manageme 56 201 2,016 2,013 2,015 2,015 $882.00
Houston County Q3 2022 Educational Services 61 92 Confidential Confidential Confidential Confidential Confidential
Houston County Q3 2022 Health Care and Social Assistance 62 424 7,502 7,518 7,457 7,492 $929.00
Houston County Q3 2022 Arts, Entertainment, and Recreation 71 39 780 658 595 678 $347.00
Houston County Q3 2022 Accommodation and Food Services 72 405 7,916 7,747 7,740 7,801 $391.00
Houston County Q3 2022 Other Services (except Public Administration) 81 201 1,022 1,020 1,013 1,018 $941.00
Houston County Q3 2022 Public Administration 92 38 Confidential Confidential Confidential Confidential Confidential
Quarterly Census of Employment and Wages (QCEW)
Downloaded: Mon May 15 2023 16:33:03 GMT-0500 (Central Daylight Time)
Source: Georgia Dept. of Labor, Workforce Statistics & Economic Research, Quarterly Census of Employment and Wages Program
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3. Major Employers:
Houston Lake Homes, Perry, GA
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4. Unemployment Trends:
Employment Trends
Houston County Annualized Total Employment and Annualized Unemployment Rates
year
Total
Change
Unemployment Rate
Rate Change
2010
61498
-6.0
8.6
1.0
2011
62446
1.5
8.5
-0.1
2012
63085
1.0
7.9
-0.5
2013
62345
-1.2
7.5
-0.5
2014
61332
-1.6
6.8
-0.6
2015
61086
-0.4
5.9
-0.9
2016
64005
4.8
5.4
-0.5
2017
66524
3.9
4.8
-0.7
2018
67613
1.6
4.1
-0.7
2019
68906
1.9
3.5
-0.6
2020
67032
-2.7
5.2
1.7
2021
68638
2.4
3.7
-1.5
2022
68554
-0.1
3.1
-0.6
Source: Bureau of Labor Statistics
Houston County Monthly Total Employment and Monthly Unemployment Rates
Month
Total
Change
Unemployment Rate
Rate Change
Jan-21
68347
-1.9
4.5
1.0
Feb-21
68769
-2.2
4.2
0.8
Mar-21
69260
-0.4
4.1
0.4
Apr-21
68948
12.2
3.7
-6.0
May-21
68775
6.4
3.7
-3.6
Jun-21
68780
5.7
4.2
-2.3
Jul-21
68819
5.2
3.5
-2.5
Aug-21
67675
4.1
3.7
-1.5
Sep-21
68638
4.6
3.0
-1.7
Oct-21
68232
-1.3
3.7
-0.7
Nov-21
68694
-0.9
2.9
-1.1
Dec-21
68714
-0.7
2.8
-1.6
Jan-22
68937
0.9
3.3
-1.2
Feb-22
69059
0.4
3.2
-1.0
Mar-22
69359
0.1
3.0
-1.1
Apr-22
68864
-0.1
2.5
-1.1
May-22
68708
-0.1
2.9
-0.8
Jun-22
68825
0.1
3.5
-0.7
Jul-22
68574
-0.4
3.3
-0.2
Aug-22
67464
-0.3
3.6
-0.2
Sep-22
68103
-0.8
3.0
0.0
Oct-22
68103
-0.2
3.2
-0.5
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Nov-22
68140
-0.8
2.9
0.0
Dec-22
68517
-0.3
2.8
0.0
Jan-23
68663
-0.4
3.3
-0.1
Feb-23
68987
-0.1
3.1
-0.1
Mar-23
69256
-0.2
3.1
0.2
Commute Patterns:
PMA
2023 Est. Workers Age 16+ by Travel Time to Work
Less than 15 Minutes
7,284
24.22
15 - 29 Minutes
14,116
46.93
30 - 44 Minutes
6,170
20.51
45 - 59 Minutes
703
2.34
60 or more Minutes
1,804
6.00
2023 Est. Avg Travel Time to Work in Minutes
--
25.88
2023 Est. Workers Age 16+ by Transp. to Work
2023 Est. Workers Age 16+ by Transp. to Work
31,436
100.00
Drove Alone
26,910
85.60
Carpooled
2,656
8.45
Public Transport
47
0.15
Walked
236
0.75
Bicycle
22
0.07
Other Means
197
0.63
Worked at Home
1,368
4.35
Source: Environics Analytics
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EMPLOYMENT and OCCUPATION
2023 Est. Civ. Employed Pop 16+ by Class of Worker
2023 Est. Civ. Employed Pop 16+ by Class of
Worker
31,169 100.00
For-Profit Private Workers
17,698
56.78
Non-Profit Private Workers)
1,450
4.65
Local Government Workers
2,499
8.02
State Government Workers
1,427
4.58
Federal Government Workers
5,201
16.69
Self-Employed Workers
2,890
9.27
Unpaid Family Workers
4
0.01
2023 Est. Civ. Employed Pop 16+ by Occupation
Architecture/Engineering
915
2.94
Arts/Design/Entertainment/Sports/Media
530
1.70
Building/Grounds Cleaning/Maintenance
737
2.37
Business/Financial Operations
2,237
7.18
Community/Social Services
344
1.10
Computer/Mathematical
1,148
3.68
Construction/Extraction
1,278
4.10
Education/Training/Library
1,862
5.97
Farming/Fishing/Forestry
85
0.27
Food Preparation/Serving Related
1,863
5.98
Healthcare Practitioner/Technician
2,013
6.46
Healthcare Support
1,061
3.40
Installation/Maintenance/Repair
2,170
6.96
Legal
293
0.94
Life/Physical/Social Science
226
0.72
Management
2,794
8.96
Office/Administrative Support
4,177
13.40
Production
1,561
5.01
Protective Services
799
2.56
Sales/Related
2,531
8.12
Personal Care/Service
827
2.65
Transportation/Material Moving
1,718
5.51
2023 Est. Pop Age 16+ by Employment Status
In Armed Forces
1,379
2.71
Civilian - Employed
31,205
61.35
Civilian - Unemployed
1,148
2.26
Not in Labor Force
17,133
33.68
Source: Environics Analytics
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2023
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5. Site Location and Major Employers:
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6. Analysis and Conclusions:
The County unemployment rate declined to 3.1% in March 2023, from 3.7% in 2021 and
up from 3.0% in March of 2022. The annualized total employment increased 1.9% in 2019,
decreased by 2.7% in 2020, increased 2.4% in 2021 and declined 0.1% in 2022. The
annualized unemployment rate decreased 0.7% in 2019, increased 1.7% in 2020, decreased
1.5% in 2021 and decreased 0.6% in 2022. Total employment in March 2023 has increased
by 702 over annualized 2022. The large decrease in employment in 2020 was due to the
COVID-19 safer at home actions taken by the state.
The area has a concentration of employment in the manufacturing, educational services
and retail sectors. These jobs have incomes that would make the worker eligible for the
proposed housing. Current employment is increasing in these areas.
A review of the commuting patterns shows that 48.83% of those working in Houston
County do not live in Houston County. This may be due to a lack of decent affordable
housing.
The increases in the numbers of employed will cause upward pressure on rents and
occupancy levels as people are able to improve their housing situations. New households
will be formed as a result of the increased employment. The employment conditions and
trends are supportive of the need for more affordable housing.
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H. PROJECT-SPECIFIC AFFORDABILITY & DEMAND ANALYSIS
1. Income Restrictions
The demand analysis must begin with a discussion of the requirements of the Low Income
Housing Tax Credit program.
LIHTC Requirements
Section 42 of the Internal Revenue Code allows a credit against income tax for
development of low-income housing. As such, the project developed, to be eligible for the
credit, must meet certain requirements. Two of the requirements are:
1. Rent restriction
2. Income restrictions
These two restrictions impact upon the market needs when calculating demand for
affordable housing. The universe of potential residents is limited by the above restrictions.
Generally, the rent (including an allowance for utilities) is limited to 30% of the maximum
income limit, adjusted for family size. The proposed development will have units targeted
to, 60% and 0% of the area median income, as determined by the Department of Housing
and Urban Development, adjusted for family size. The charts below summarize these
limits for the market area. It will also have market rate units that have no statutory limits.
Maximum Rents
Bedrooms (People)
60.00%
80.00%
50.00%
FMR
Efficiency (1.0)
865
1154
721
778
1 Bedroom (1.5)
927
1236
772
855
2 Bedrooms (3.0)
1111
1482
926
974
3 Bedrooms (4.5)
1284
1712
1070
1297
4 Bedrooms (6.0)
1432
1910
1193
1587
Source: HUD 2022 Income Limits, Gibson Consulting, LLC
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LIHTC Income Limits
% of Area Median
LIHTC Income Limits for 2022
(Based on 2022 MTSP/VLI Income Limits)
60.00%
80.00%
50.00%
1 Person
34,620
46,160
28,850
2 Person
39,540
52,720
32,950
3 Person
44,460
59,280
37,050
4 Person
49,380
65,840
41,150
5 Person
53,340
71,120
44,450
6 Person
57,300
76,400
47,750
7 Person
61,260
81,680
51,050
8 Person
65,220
86,960
54,350
Source: U. S. Department of HUD, 2022
Since 100% of the LIHTC units will be subject to the above rules, the universe for market
calculations will include only those with incomes lower than the above amounts in our
LIHTC demand calculation. The maximum allowable Area Median Level per household
for all bedroom types is based upon a standard of 1.5 persons per bedroom, rounded up to
the next whole number. HFOP occupancy (if project is designated as such) is limited to
two persons per unit.
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2. Affordability
This market study is concerned with only the demand from income eligible households and
therefore total demand is adjusted for the income eligible component, i.e those that can
afford the rent. The demand from existing households includes demand from those that
occupy substandard or overcrowded housing. Persons with special needs such as,
handicapped, or disabled are also sources of demand that factor into the overall calculation.
We calculate demand by utilizing data from the PMA. In this market there will be inward
migration to the town from the other areas of the county because of the increase in
availability of the quality affordable housing proposed by this developer. The minimum
income calculated based upon a maximum of 35% of income for rent and utilities. This is
conservative since the project can accept housing vouchers and can therefore rent to much
lower income levels. DCA requires that the maximum allowable Area Median Level per
household for all bedroom types is based upon a standard of 1.5 persons per bedroom,
rounded up to the next whole number.
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Total
Number of units
50
2
13
13
1
3
2
2
7
7
1BR
3BR
4BR
1BR
3BR
4BR
1BR
3BR
4BR
%
50% AMI
50% AMI
50% AMI
80% AMI
80% AMI
80% AMI
60% AMI
60% AMI
60% AMI
MINIMUM INCOME
25714
35143
39429
36000
48000
53143
31543
41143
45429
MAXIMUM INCOME
32,950
44,450
47,750
52,720
71,120
76,400
39,540
53,340
57,300
Less than $5,000
4.51%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
$5,000 to $9,999
3.95%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
$10,000 to $14,999
7.21%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
$15,000 to $19,999
6.33%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
$20,000 to $24,999
6.05%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
$25,000 to $34,999
11.26%
8.14% 0.00% 0.00% 0.00% 0.00% 0.00% 3.89% 0.00% 0.00%
$35,000 to $49,999
10.59%
0.00% 6.57% 5.88% 9.89% 1.41% 0.00% 3.21% 6.26% 3.23%
$50,000 to $74,999
17.42%
0.00% 0.00% 0.00% 1.90% 14.72% 15.23% 0.00% 2.33% 5.09%
$75,000 to $99,999
17.72%
0.00% 0.00% 0.00% 0.00% 0.00% 0.99% 0.00% 0.00% 0.00%
Income Eligible %
8.14% 6.57% 5.88% 11.78% 16.13% 16.23% 7.10% 8.58% 8.32%
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Total
50
28
6
16
Number of units
50
TOTAL
%
LIHTC
50% AMI
80% AMI
60%AMI
MINIMUM INCOME
25714
25714
36000
31543
MAXIMUM INCOME
76,400
47,750
76,400
57,300
Less than $5,000
4.51%
0.00% 0.00% 0.00% 0.00%
$5,000 to $9,999
3.95%
0.00% 0.00% 0.00% 0.00%
$10,000 to $14,999
7.21%
0.00% 0.00% 0.00% 0.00%
$15,000 to $19,999
6.33%
0.00% 0.00% 0.00% 0.00%
$20,000 to $24,999
6.05%
0.00% 0.00% 0.00% 0.00%
$25,000 to $34,999
11.26%
10.45% 10.45% 0.00% 3.89%
$35,000 to $49,999
10.59%
10.59% 9.01% 9.89% 10.59%
$50,000 to $74,999
17.42%
17.42% 0.00% 17.42% 5.09%
$75,000 to $99,999
17.72%
0.99% 0.00% 0.99% 0.00%
Income Eligible %
39.46% 19.46% 28.30% 19.57%
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3. Demand
a. Demand from New Household Growth
1BR
3BR
4BR
1BR
3BR
4BR
1BR
3BR
4BR
50% AMI
50% AMI
50% AMI
80% AMI
80% AMI
80% AMI
60% AMI
60% AMI
60% AMI
Households-2025
23,990
23,990
23,990
23,990
23,990
23,990
23,990
23,990
23,990
Households-2023
23,244
23,244
23,244
23,244
23,244
23,244
23,244
23,244
23,244
New Households
746
746
746
746
746
746
746
746
746
% Income Eligible
8.14%
6.57%
5.88%
11.78%
16.13%
16.23%
7.10%
8.58%
8.32%
% age eligible
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
Income and age Eligible
Households
61
49
44
88
120
121
53
64
62
Renter %
22.73%
22.73%
22.73%
22.73%
22.73%
22.73%
22.73%
22.73%
22.73%
Demand from new
Households
14
11
10
20
27
28
12
15
14
TOTAL
LIHTC
50% AMI
80% AMI
60%AMI
Households-2025
23,990
23,990
23,990
23,990
Households-2023
23,244
23,244
23,244
23,244
New Households
746
746
746
746
% Income Eligible
39.46%
19.46%
28.30%
19.57%
% age eligible
100.00%
100.00%
100.00%
100.00%
Income and age Eligible
Households
294
145
211
146
Renter %
22.73%
22.73%
22.73%
22.73%
Demand from new
Households
67
33
48
33
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b. Demand from Existing Households
The demand from existing households includes demand from those that occupy substandard or overcrowded housing.
Substandard Housing Data:
SELECTED CHARACTERISTICS
Occupied housing units
21,285
Lacking complete plumbing facilities
263
Lacking complete kitchen facilities
250
No telephone service available
156
OCCUPANTS PER ROOM
Occupied housing units
21,285
1.00 or less
20,920
1.01 to 1.50
275
1.51 or more
90
Source: U.S. Census Bureau, American Community Survey DP04
As shown on the chart above 263 units lack complete plumbing facilities, 250 units lack complete kitchen facilities and 365 units are overcrowded;
therefore, substandard units total 878.
1BR
3BR
4BR
1BR
3BR
4BR
1BR
3BR
4BR
50% AMI
50% AMI
50% AMI
80% AMI
80% AMI
80% AMI
60% AMI
60% AMI
60% AMI
Total Substandard units
878
878
878
878
878
878
878
878
878
% Income Eligible
8.14%
6.57%
5.88%
11.78%
16.13%
16.23%
7.10%
8.58%
8.32%
% age eligible
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
Demand From Substandard
Units
72
58
52
103
142
142
62
75
73
TOTAL
LIHTC
50% AMI
80% AMI
60%AMI
Total Substandard units
878
878
878
878
% Income Eligible
39.46%
19.46%
28.30%
19.57%
% age eligible
100.00%
100.00%
100.00%
100.00%
Demand From Substandard
Units
346
171
249
172
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Rent Overburden Information:
GROSS RENT AS A PERCENTAGE OF HOUSEHOLD INCOME (GRAPI)
Estimate
Percent
Occupied units paying rent (excluding units where GRAPI cannot be computed)
4,431
Less than 15.0 percent
701
15.82%
15.0 to 19.9 percent
882
19.91%
20.0 to 24.9 percent
518
11.69%
25.0 to 29.9 percent
373
8.42%
30.0 to 34.9 percent
450
10.16%
35.0 percent or more
1,507
34.01%
Source: U.S. Census Bureau, American Community Survey DP04
The chart above indicates that 34.01% of the renters pay 35.0% or more of their income for rent.
1BR
3BR
4BR
1BR
3BR
4BR
1BR
3BR
4BR
50% AMI
50% AMI
50% AMI
80% AMI
80% AMI
80% AMI
60% AMI
60% AMI
60% AMI
Households-2025
23,990
23,990
23,990
23,990
23,990
23,990
23,990
23,990
23,990
% Income Eligible
8.14%
6.57%
5.88%
11.78%
16.13%
16.23%
7.10%
8.58%
8.32%
% age eligible
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
Income and age Eligible Households
1,954
1,577
1,410
2,827
3,870
3,893
1,703
2,059
1,995
Renter %
22.73%
22.73%
22.73%
22.73%
22.73%
22.73%
22.73%
22.73%
22.73%
Income and age Eligible renters
444
358
321
643
880
885
387
468
453
% of Rent Overburdened
34.0%
34.0%
34.0%
34.0%
34.0%
34.0%
34.0%
34.0%
34.0%
Demand from Rent Overburdened
151
122
109
219
299
301
132
159
154
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TOTAL
LIHTC
50% AMI
80% AMI
60%AMI
Households-2025
23,990
23,990
23,990
23,990
% Income Eligible
39.46%
19.46%
28.30%
19.57%
% age eligible
100.00%
100.00%
100.00%
100.00%
Income and age Eligible Households
9,467
4,668
6,790
4,696
Renter %
22.73%
22.73%
22.73%
22.73%
Income and age Eligible renters
2152
1061
1543
1067
% of Rent Overburdened
34.0%
34.0%
34.0%
34.0%
Demand from Rent Overburdened
732
361
525
363
c. Elderly Homeowners likely to convert to rentership
Not applicable.
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4. Net Demand, Capture Rate and Stabilization Calculations
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HH at 50%
AMI
HH at
80% AMI
HH at
60% AMI
LIHTC
MINIMUM INCOME
25,714
36,000
31,543
25,714
MAXIMUM INCOME
47,750
76,400
57,300
76,400
DEMAND FROM NEW HOUSEHOLDS
33
48
33
67
Plus
Demand from Substandard units
171
249
172
346
Plus
DEMAND from RENT OVERBURDENED
361
525
363
732
Plus
Demand from Elderly Homeowner Turnover
(5%)
0
0
0
0
Equals
Total Demand
565
821
568
1,145
Less
Supply of Current Vacant Units, under
construction and/or newly constructed in the
past two years
0
0
0
0
Equals Net Demand
565
821
568
1,145
Proposed Subject Units
28
6
16
50
Proposed Subject Units Divided by Net Demand
-
-
-
-
Capture Rate
4.96%
0.73%
2.82%
4.37%
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CAPTURE RATE ANALYSIS CHART
AMI
Income
Limits
Unit Size
Units
Proposed
Total
Demand
Supply
Net
Demand
Capture
Rate
Absorption
Average
Market
Rent
Market
Rents Band
Min-Max
Proposed
Rents
50% AMI
25714
32950 1BR 2 236 236 0.85% <6 months $ 1,200 1025-1343 $636
35143
44450 3BR 13 191 191 6.81% <6 months $ 1,500 1170-2030 $844
39429
47750 4BR 13 171 171 7.62% <6 months $ 1,600 1170-2030 $927
80% AMI
36000
52720 1BR 1 342 342 0.29% <6 months $ 1,200 1170-2030 $936
48000
71120 2BR 3 468 468 0.64% <6 months 1,500$ 1170-2030 $1,219
53143
76400 3BR 2 471 471 0.42% <6 months 1,600$ 1170-2030 $1,327
60%AMI
31543
39540 1BR 2 206 206 0.97% <6 months 1,200$ 1025-1343 $806
41143
53340 2BR 7 249 249 2.81% <6 months 1,500$ 1170-2030 $1,019
45429
57300 3BR 7 241 241 2.90% <6 months 1,600$ 1170-2030 $1,102
TOTAL 50% AMI 28 565 0
565 4.96% <6 months
FOR 80% AMI 6 821 0
821 0.73% <6 months
60% AMI 16 568 0
568 2.82%
PROJECT
TOTAL
LIHTC
50 1,145 0
1,145 4.37% <6 months
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I. COMPETITIVE RENTAL ANALYSIS (EXISTING COMPETITIVE RENTAL
ENVIRONMENT)
In the demographics section of the report, we include detailed information on the existing housing stock for
the PMA. The renter percentage is 22.73% which is low. One-unit detached homes make up 83.52% of the
housing units, while units while structures with 5 or more units make up 6.39% of the housing units. Mobile
Homes or Trailers make up 6.55% of the units.
We surveyed 12 complexes with a total of 1,385 units. This include 5 reported LIHTC projects with a total
of 396 units and 7 market rate and other subsidized units with a total of 989 units. The LIHTC complexes
had occupancy of 97.98%, while the other units had occupancy of 98%. The overall occupancy rate is
97.98%. The amenities in the majority of the market rate units surveyed are equal or nferior to the proposed
units. Almost all of the complexes surveyed reported that they had waiting lists of applicants. Some of the
rental units are aging with complexes built in the 1970s and 1980s. There are market rate multifamily units
that are comparable to the subject. We contacted real estate agents and researched rental properties online
and found that homes and mobile homes rent quickly. Based upon this information and assessing the
amenities and features of the proposed complex, we have determined the market rates to be $1,200 for one-
bedroom units, $1,500 for three-bedroom units and $1,600 for four-bedroom units. The chart below
compares the subject rents to the LIHTC maximums and the net market rent.
UNIT
LIHTC
MAX
RENT
UA
NET
LIHTC
RENT
MAX
PROPOSED
LIHTC
RENT
Net
Market
Rent
Advantage
over
market
1 Bedroom--50% AMI
772
$114
658
$636
1200
88.7%
3 Bedroom--50%AMI
1070
$181
889
$844
1500
77.7%
4 Bedroom--50% AMI
1193
$223
970
$927
1600
72.6%
1 Bedroom--80%AMI
1236
$114
1122
$936
1200
28.2%
3 Bedroom--80% AMI
1712
$181
1531
$1,219
1500
23.1%
4 Bedroom--80% AMI
1910
$223
1687
$1,327
1600
20.6%
1 Bedroom 60% AMI
927
$114
813
$806
1200
48.9%
3 Bedroom 60% AMI
1284
$181
1103
$1,019
1500
47.2%
4 Bedroom 60% AMI
1432
$223
1209
$1,102
1600
45.2%
The proposed project should not have any adverse impact on other affordable housing in the area, including
DCA projects. All of the properties surveyed had sustaining occupancy and most had waiting lists.
In the last five years, rental rates and occupancy levels have been increasing. Rental trends in the area
include rising rents and level occupancy in the 95-100% range. We project rents to increase 3% per year
for the next two years and we project occupancy to be stable, with slight improvements. Foreclosures and
abandoned homes are not a factor for this development due to the high rental occupancy in the area. There
is no way at this point in time to determine the effect, if any, of the COVID-19 pandemic upon the future
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economy and rental and occupancy rates. Generally, during economic downturns, the need for affordable
housing increases.
There are two housing voids in Houston County. The first is new market rate housing for general occupancy.
The income levels are sufficient to support this type of rental housing yet there is still a large demand for
it. The second is affordable housing for families. This project will help fill the void for decent affordable
housing for families but not for market rate housing.
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Map of Surveyed Complexes
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CHART OF SURVEYED COMPLEXES
Name Type units
# vacant OCC % eff rent eff sf $per.sf. 1br rent 1br sf $per.sf. 2br rent 2br sf $per.sf. 3br rent 3br sf $per.sf. 4br Rent 4br sf $per.sf.
PINEBROOK APARTMENTS
LIHTC/RD 52 1 98.08% 558 700 0.80$ 640 850 0.75$
CAMERON COURT APARTMENTS (aka
CAMERON COURT, CAMERON COURT
PHASE I & II)
LIHTC 112 1 99.11% 800 600 1.33$ 900 700 1.29$ 1000 1000 1.00$
OLIVER PLACE
LIHTC 100 2 98.00% 685 725 790 1050 0.75$ 880 1250 0.70$
BERKSHIRE COURT (aka CREEKWOOD
ESTATES)
LIHTC 72 3 95.83% 745 850 0.88$ 840 1089 0.77$ 995 1311 0.76$
GATWICK SENIOR VILLAGE
LIHTC 60 1 98.33% 700 800 0.88$ 800 1038 0.77$
LIHTC Totals 396 8 97.98% 684 720 0.95$ 795 958 0.83$ 958 1187 0.81$
COMMODORE MANOR
RD 53 0 100.00% 617 735 0.84$ 801 1080 0.74$
KINGS VILLAS (aka KINGS VILLA I & II)
RD 90 1 98.89% BOI 630 BOI 900
PERRY HEIGHTS APARTMENTS (aka
ASHTON LANDING)
MRKT 108 5 95.37% 1315 951 1.38$ 1415 1089 1.30$
HAMPTON PLACE APARTMENTS
MRKT 152 0 100.00% 1124 747 1.50$ 1299 982 1.32$ 1296 1069 1.21$
WINSLOW PLACE APARTMENTS
MRKT 98 1 98.98% 1025 745 1.38$ 1090 978 1.11$ 1170 1140 1.03$
HOUSTON LAKE
MRKT 300 1 99.67% 1343 915 1.47$ 1526 1230 1.24$ 2030 1488 1.36$
CLUB VILLA COTTAGES
MRKT 188 12 93.62% 1275 910 1.40$ 1425 1107 1.29$ 1525 1287 1.18$
Market Totals/AVG 846 19 97.75% 1192 829 1.44$ 1331 1050 1.27$ 1487 1215 1.22$
Other Subsidized 143 1 99.30%
Totals-All units 1385 28 97.98%
SUBJECT LIHTC 50 0 100.00% 636 850 0.75$ 1219 1500 0.81$ 1327 1520 0.87$
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AMENITIES
Name Type P
atio Central AC Stove Ref MW DW WD Conn Laundry Carpet Vinyl Blinds Storage Pool Clubhouse
PINEBROOK APARTMENTS LIHTC X X X X X X X X X
CAMERON COURT APARTMENTS
(aka CAMERON COURT, CAMERON
COURT PHASE I & II)
LIHTC X X X X X X X X X X X X
OLIVER PLACE LIHTC X X X X X X X X X X
BERKSHIRE COURT (aka CREEKWOOD
ESTATES)
LIHTC X X X X X X X X X X X X
GATWICK SENIOR VILLAGE LIHTC X X X X X X X X X X X X
COMMODORE MANOR RD X X X X X X X X
KINGS VILLAS (aka KINGS VILLA I &
II) RD X X X X X X X X
PERRY HEIGHTS APARTMENTS (aka
ASHTON LANDING)
MRKT X X X X X X X X X X X X X
HAMPTON PLACE APARTMENTS MRKT X X X X X X X X X X X X X X
WINSLOW PLACE APARTMENTS MRKT X X X X X X X X X X X
H
OUSTON LAKE MRKT X X X X X X X X X X X X X X
CLUB VILLA COTTAGES MRKT X X X X X X X X X
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J. Absorption and Stabilization Rates
ABSORPTION ANALYSIS
The timeframe within which the new units are leased is the main component of the
absorption analysis. The analyst must consider the existing rental occupancy and turnover
rate of comparable units. Relative desirability of services, rates, facilities and amenities are
also factors. It is common for any new units to receive an immediate surge of demand
simply because they are new and the selection is greatest. Likewise, the final 5% of the
units to be rented are typically the hardest to rent because they are, in effect, the least
desirable units in the new complex.
The appearance of new units on the market will also cause competing properties to make
changes in rates and amenities to attract and keep tenants. Due to the tight nature of the
budgets of multifamily developments, there is not a huge permanent price reduction that is
available to the competing properties. The new units will cause the competing existing
units to provide better service. In a loose market, this is truer than in a tight market. In a
tight market, the new units will be absorbed quickly and there may be a slightly increased
turnover rate as a result of tenants attempting to upgrade their housing situation.
We project the following absorption (i.e. leasing) of the new units:
Date
Total #
Leased
%
Construction Completion
4
8%
30 Days Post Completion
12
24%
60 Days Post Completion
20
40%
90 Days Post Completion
28
56%
120 Days Post Completion
36
72%
150 Days Post Completion
44
88%
180 Days Post Completion
50
100%
The absorption rate is estimated to be 8 units per month, based upon the interviews with
the property managers. Preleasing is projected to result in 4 units rented during
construction. 93% occupancy should be achieved approximately 180 days after
construction completion.
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MARKET IMPACT STATEMENT
The proposed project when completed will have no appreciable impact on the tax credit
and other existing affordable housing in the area. It will have a positive impact on those
that are seeking affordable housing in that they will have an additional choice and
availability that prior to the completion they will not have. As with any new addition or
newly rehabilitated units to a market, this complex may cause other properties to provide
a better product and a higher level of customer service and appreciation.
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K. INTERVIEWS
Nesha, the manager of Oliver Place reported that occupancy generally stays full and
vacancies are rented quickly. She did not know of any additional quality market rate rentals
in the area.
Jamie, the manager of Berkshire Court, reported that occupancy generally stays full and
vacancies are rented quickly.
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L. CONCLUSIONS and RECOMMENDATION
We recommend that the proposed project be awarded an allocation of Low-Income
Housing Tax Credits based upon our review and analysis of current market conditions,
economics, demographics, current occupancy of existing complexes and supply and
demand estimates. The proposed design and amenities will enhance the relative
marketability.
The site has no adverse conditions and is marketable. The complex will be able to operate
as one of the nicest rental complexes available. The standard calculated capture rate for
each type of unit is within DCA guidelines for feasibility in a rural area.
We project the units will be absorbed fully within 180 days of completion. The new units
will have an advantage over other units in the area due to a superior amenities package.
The high occupancy rates, waiting lists, acceptable capture rates and interviews with local
persons knowledgeable about the housing needs of the area were the major factors that led
to these conclusions.
The proposed project when completed will have no appreciable impact on the tax credit
and other existing affordable housing in the area. It will have a positive impact on those
that are seeking affordable housing in that they will have an additional choice and
availability that prior to the completion they will not have. As with any new addition or
newly rehabilitated units to a market, this complex may cause other properties to provide
a better product and a higher level of customer service and appreciation.
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M. Signed Statement Requirements
This market study has been prepared by Gibson Consulting, LLC, a member in good
standing of the National Council of Housing Market Analysts (NCHMA). This study has
been prepared in conformance with the standards adopted by NCHMA for the market
analysts’ industry. These standards include the Standard Definitions of Key Terms Used
in Market Studies, and Model Content Standards for the Content of Market Studies. These
Standards are designed to enhance the quality of market studies and to make them easier
to prepare, understand, and use by market analysts and by the end users. These Standards
are voluntary only, and no legal responsibility regarding their use is assumed by the
National Council of Housing Market Analysts.
I affirm that I have made a physical inspection of the market area and the subject property
and that information has been used in the full study of the need and demand for the
proposed units. The report was written according to DCA’s market study requirements, the
information included is accurate and the report can be relied upon by DCA as a true
assessment of the low-income housing rental market.
To the best of my knowledge, the market can support the project as shown in the study. I
understand that any misrepresentation of this statement may result in the denial of further
participation in DCA’s rental housing programs. I also affirm that I have no interest in the
project or relationship with the ownership entity and my compensation is not contingent
on this project being funded.
DCA may rely on the representation made in the market study. The document is assignable
to other lenders.
Gibson Consulting, LLC
By:
Jim Howell
Senior Market Analyst
1651 E. 70
th
Street
PMB 403
Shreveport, LA 71105-5115
By:
Debbie J. Amox
Market Analyst
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DATA SOURCES
Environics Analytics
Census Bureau
Census American Fact Finder
http://www.novoco.com
http://lihtc.huduser.org
SOCDS Building Permit Database
Apartment management contacts
U.S. Bureau of Economic Analysis
Bureau of Labor Standards
City of Warner Robins
City of Perry
Houston County
Real Estate Center at Texas A&M University
HUD
Georgia DCA
Neighborhoodscout.com
NCHMA
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APPENDICES
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Complexes Surveyed
715MasonTerraceRd
Perry,GA31069‐2082
Telephone:(478)987‐7215
OfficeHours:M,W,F8:30‐5
Contact:
Ashley
5/10/2023
UnitSize
#
Baths
Last
Rent
VacantUnits
forUnit
Type
Number
Unitsper
size
Square
Footageper
size
TargetAMI
Rent
Concessions
Studio
1BR 1 $558 0 14 est700 ?
2BR 2 $640 1 38 est850 ?
2BR
3BR
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 52 1
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCov erings
Carpet,Vinyl
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
Cameras
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
CoveredGrill
Area
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
TypeofOccupancy:
ServiceCoordinations Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Included
Trash/Recycle
Included
PestControl
Included
FGC‐Comp1.15.20
CAHECManagement,Inc.
PinebrookApartments
Picture
Brick,Vinyl/2Stories
1988
Good
Good
(akaCameronCourt,CameronCourtPhaseI&II)
1807MaconRd
Perry,GA31069
Telephone:(478)988‐0109;(478)960‐2683
OfficeHours:M,W,F9‐4
Contact:
Katie
5/10/2023
UnitSize
#
Baths
Last
Rent
VacantUnits
forUnitType
Number
Unitsper
size
Square
Footageper
size
TargetAMI
Rent
Concessions
Studio
1BR
1
$670‐$800 0 20 600 50%‐60%
2BR
1
$799‐$900 1 84 700 50%‐60%
2BR
3BR
1
$900‐
$1000 0 8 1000 50%‐60%
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 112 1
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal
Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCoverings
Carpet,Vinyl
Plank
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
Gated
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
Fitness
Center,
Library,
OutdoorRec
Area,Gazebo
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
ComputerLab
TypeofOccupancy:
ServiceCoordinations Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Tenant
Trash/Recycle
Included
PestControl
Included
FGC‐Comp1.15.20
98%OccupancyRate;SisterProperty
GatwickSeniorVillage
CameronCourtApartments
Picture
Brick,Stucco/1Story
2008
Good
Good
(akaAshtonLanding)
1701MaconRd
Perry,GA31069
Telephone:(478)988‐0917;(478)316‐2334
OfficeHours:M‐F8:30‐5:30
Contact:
Ron
5/3/2023
UnitSize
#
Baths
Last
Rent
VacantUnits
forUnitType
Number
Unitsper
size
Square
Footageper
size
TargetAMI
Rent
Concessi ons
Studio
1BR
2BR
2BR
2
$1290‐
$1315 2 48 951 MRKT
3BR
2
$1370‐
$1415 3 60 1089 MRKT
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 108 5
YearBuilt/YearRenovated
Section 8
Yes No
Condition/Street Appeal
Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
DW
Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCoverings
Carpet,Vinyl
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
OnSite
Courtesy
Officer
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
FitnessCenter
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
TypeofOccupancy:
ServiceCoordinations Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Tenant
Trash/Recycle
Tenant
PestControl
Tenant
FGC‐Comp1.15.20
ArcanCapital
PerryHeightsApartments
Picture
Brick,Vinyl/3Stories
1999
Good
Good
530GrayRd
Perry,GA31069‐2810
Telephone: (478)287‐4096
OfficeHours:M‐F8‐5
Contact:
Nesha
5/1/2023
UnitSize
#
Baths
Last
Rent
VacantUnits
forUnit
Type
Number
Unitsper
size
S
quare
Footageper
size
TargetAMI
Rent
Concessi ons
Studio
1BR
1
$575,
$685 1 24 725 50%,60%
2BR
2BR
2
$650,
$790 1 44 975‐1050 50%,60%
3BR
2
$880 0 22 1075‐1200 60%
3BR
2.5
$790 0 10 1250 60%
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 100 2
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal
Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
DW
Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCoverings
Carpet,Vinyl
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
Fitness
Center,
Community
Garden
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
TypeofOccupancy:
ServiceCoordinations Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Tenant
Trash/Recycle
Included
PestControl
Included
FGC‐Comp1.15.20
98%OccupancyRate
OliverPlace
Picture
Brick,Vinyl/2Stories
2017
Good
Good
(akaCreekwoodEstates)
1820MaconRd
Perry,GA31069
Telephone: (478)200‐5592
Contact:
Jamie
5/8/2023
UnitSize
#
Baths
Last
Rent
VacantUnits
forUnit
Type
Number
Unitsper
size
S
quare
Footageper
size
TargetAMI
Rent
Concessi ons
Studio
1BR
1
$660‐$745 0 16 850 50%,60%
2BR
1
$775‐$840 1 32 1089 50%,60%
2BR
3BR
2
$915‐$995 2 24 1311 50%,60%
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 72 3
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal
Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCoverings
Carpet,Vinyl
Plank
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
Community
Garden
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
TypeofOccupancy:
ServiceCoordinations Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Tenant
Trash/Recycle
Included
PestControl
Included
FGC‐Comp1.15.20
96%OccupancyRate;IDPProperties
BerkshireCourt
Picture
Brick,Vinyl/2Stories
2021
Good
Good
901Perimete rRd
Perry,GA31069
Telephone:(478)987‐7252
Contact:
NoResponse
UnitSize
#
Baths
Last
Rent
VacantUnits
forUnit
Type
Number
Unitsper
size
Square
Footageper
size
Target
AMI
Rent
Concessions
Studio
1BR
1
$620‐$700 1 800
50‐60%,
MRKT
2BR
1
$700‐$800 0 1038
50‐60%,
MRKT
2BR
3BR
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 60 1
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal
Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCoverings
Carpet,Vinyl
Plank
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
Gated
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
Fitness
Center,
Library,
OutdoorRec
Area,Gazebo
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
ComputerLab
TypeofOccupancy:
ServiceCoordinations Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Included
Trash/Recycle
Included
PestControl
Included
FGC‐Comp1.15.20
SisterPropertyCameronCourtApts;All
informationfrominternet
GatwickSeniorVillage
Picture
Brick,Vinyl/1Story
2002
Good
Good
60
1603MaconRd
Perry,GA31069
Telephone:(478)987‐4800
Contact:
Karla
5/9/2023
UnitSize
#
Baths
Last
Rent
VacantUnits
forUnitType
Number
Unitsper
size
Square
Footageper
size
TargetAMI
Rent
Concessions
Studio
1BR 1 $475‐$617 0 20 735
2BR 1.5 $620‐$801 0 33 1080
2BR
3BR
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 53 0
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCoverings
Carpet,Vinyl
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
TypeofOccupancy:
ServiceCoordinations
Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Included
Trash/Recycle
Included
PestControl
Included
FGC‐Comp1.15.20
CharlesWilliamsRealEstateInvestment
Corporatio n
CommodoreManorApartments
Picture
Brick,Vinyl/2Stories
1985
Good
Good
(akaKingsVillaI&II)
1980KingsChapelRd
Perry,GA31069
Telephone:(478)987‐1494
Contact:
Katrina
4/28/2023
UnitSize
#
Baths
Last
Rent
VacantUnits
forUnit
Type
Number
Unitsper
size
Square
Footageper
size
TargetAMI
Rent
Concessions
Studio
1BR 1 BOI 1 34 630 30%
2BR 1 BOI 0 56 900 30%
2BR
3BR
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 90 1
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCov erings
Carpet,Vinyl
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
TypeofOccupancy:
ServiceCoordinations
Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Tenant
Trash/Recycle
Tenant
PestControl
Tenant
FGC‐Comp1.15.20
98%OccupancyRate;FlynnManagement
Corp.
KingsVillas
Picture
Brick,Vinyl/2Stories
1980
Good
Good
395NPerryPky
Perry,GA31069
Telephone:(478)987‐8179
OfficeHours:M‐F8‐5
Contact:
Jessie
4/28/2023
UnitSize
#
Baths
Last
Rent
Vacant
Unitsfor
UnitType
Number
Unitsper
size
Square
Footageper
size
Target
AMI
Rent
Concessions
Studio
1BR 1 $1,124 0 48 747 MRKT
2BR 1 $1,299 0 982 MRKT
2BR 2 $1,296 0 1069 MRKT
3BR
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 152 0
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCoverings
Carpet,Vinyl
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Bike
Walk‐up
Security
Courtesy
Patrol
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
Fitness
Center,Car
WashArea,
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
TypeofOccupancy:
ServiceCoordinations
Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Gas
OtherElectric
Electric
ColdWater/Sewer
Tenant
Trash/Recycle
Included
PestControl
Included
FGC‐Comp1.15.20
100%OccupancyRate;HensslerProperty
Management
104
Good
Good
HamptonPlaceApartments
Picture
Vinyl/2Stories
1998/?
200BristolSt
Perry,GA31069
Telephone:(478)218‐2875
OfficeHours:M‐F8:30‐5
Contact:
Sandy
4/28/2023
UnitSize
#
Baths
Last
Rent
Vacant
Unitsfor
UnitType
Number
Unitsper
size
Square
Footageper
size
Target
AMI
Rent
Concessions
Studio
1BR 1 $1,025 1 32 745 MRKT
2BR 1 $1,090 0 24 978 MRKT
2BR 2
$1155‐
$1170 0 42 1045‐1140 MRKT
3BR
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 98 1
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
DW Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCoverings
Carpet,Vinyl
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
Fitness
Center,Dog
Park
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
TypeofOccupancy:
ServiceCoordinations
Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Tenant
Trash/Recycle
Tenant
PestControl
Tenant
FGC‐Comp1.15.20
98%OccupancyRate;MulberryProperties
WinslowPlaceApartments
Picture
Vinyl/2Stories
1988/AsNeeded
Good
Good
2350HoustonLakeRd
Kathleen,GA31047
Telephone:(478)221‐7935;(478) 987‐
OfficeHours:M‐F8:30‐5:30,S10‐5
Contact:
Kim
4/28/2023
UnitSize
#
Baths
Last
Rent
VacantUnits
forUnit
Type
Number
Unitsper
size
Square
Footageper
size
Target
AMI
Rent
Concessions
Studio
1BR
1
$1313‐
$1343 0 44 825‐915 MRKT
2BR
1
$1,476 0 1031 MRKT
2BR
2
$1496‐
$1526 1 1133‐1230 MRKT
3BR
2
$1790‐
$2030 0 76 1362‐1488 MRKT
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 300 1
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal
Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCoverings
Carpet,Vinyl
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
Gated
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
Fitness
Center,
Basketball,
TennisCourt,
DogPark,
Garden
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
TypeofOccupancy:
ServiceCoordinations Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Tenant
Trash/Recycle
Included
PestControl
Included
FGC‐Comp1.15.20
99%OccupancyRate;PegasusResidential
180
Good
Good
HoustonLake
Picture
Vinyl/3Stories
2007/UnderRe novationsNow
301ClubVillaCt
Kathleen,GA31047
Telephone:(478)474‐5463
OfficeHours:M‐F9‐6,S9‐4
Contact:
Isaiah
4/28/2023
UnitSize
#
Baths
Last
Rent
Vacant
Unitsfor
UnitType
Number
Unitsper
size
Square
Footageper
size
Target
AMI
Rent
Concessions
Studio
1BR 1
$1175‐
$1275 6 910 MRKT
2BR 2
$1375‐
$1425 3 1107 MRKT
2BR
3BR 2
$1475‐
$1525 3 1287 MRKT
4BR
Design/Location/Condition
SiteInfo:
TotalUnits TotalVacant
Structure/Stories
TotalUnits 188 12
YearBuilt/YearRenovated
Section8
Yes No
Condition/StreetAppeal Accepts:
NeighborhoodCondition
#ofVouchers:
UnitEquipment/Amenities
Yes No Type
TypeofFinancing:
Balcony/Patio
LIHTC
AC:Central/Wall
RD
Range/Refrigerator
RDR/A
Microwave/Dishwasher
DW Market
Washer/DryerIncluded
HOME
Washer/DryerConnections
Bonds
FloorCoverings
Carpet,Vinyl
Section8
WindowCoverings
Other:
Cable/Satellite/InternetREADY
TypeofStructure:
SpecialFeatures
LowRise
SiteEquipment/Amenities
Yes No Type
HighRise
Parking($________(Fee)
Garden
ExtraStorage
Walk‐up
Security
SF
Clubhouse/MeetingRoom
Duplex
Pool
Triplex
RecreationAreas
Quadplex
Playground
Townhome
LaundryFacility(ies)
Other:
Bus.Center/NghbrhdNetwork
TypeofOccupancy:
ServiceCoordinations
Multifamily
UtilitiesIncludedInRent
Yes No Type
Elderly(55+)
Heat
Electric
Elderly(62+)
Cooling
Electric
Other:
Cooking
Electric
Notes:
HotWater
Electric
OtherElectric
Electric
ColdWater/Sewer
Tenant
Trash/Recycle
Tenant
PestControl
Tenant
FGC‐Comp1.15.20
93%OccupancyRate;ClubVillaApartments
188
Good
Good
ClubVillaCottages
Picture
Vinyl/2Stories
2021
Houston Lake Homes, Perry, GA
2023
84
Gibson Consulting, LLC
84
Market Study Terminology
1400 16
th
Street, NW
Suite #420
Washington, DC 20036
P: (202) 939-1750
F: (202) 265-4435
www.housingonline.com
Market Study Terminology
Effective January 1, 2007, all affordable housing market studies performed by NCHMA
members incorporate the member certification, market study index, the market study
terminology and market study standards.
State Housing Finance Agencies and other industry members are welcome to incorporate the
information below in their own standards. NCHMA only requests written notification of use.
I. Common Market Study Terms
The terms in this section are definitions agreed upon by NCHMA members. Market studies for
affordable housing prepared by NCNCHMAHMA members should use these definitions in their
studies except where other definitions are specifically identified.
Terminology
Definition
Absorption period
The period of time necessary for a newly constructed or renovated
property to achieve the stabilized level of occupancy. The
absorption period begins when the first certificate of occupancy is
issued and ends when the last unit to reach the stabilized level of
occupancy has a signed lease. Assumes a typical pre-marketing
period, prior to the issuance of the certificate of occupancy, of
about three to six months. The month that leasing is assumed to
begin should accompany all absorption estimates.
Absorption rate
The average number of units rented each month during the
absorption period.
Acceptable rent
burden
The rent-to-income ratio used to qualify tenants for both income-
restricted and non-income restricted units. The acceptable rent
burden varies depending on the requirements of funding sources,
government funding sources, target markets, and local conditions.
Achievable Rents
See Market Rent, Achievable Restricted Rent.
Affordable housing
Housing affordable to low or very low-income tenants.
Amenity
Tangible or intangible benefits offered to a tenant. Typical
amenities include on-site recreational facilities, planned programs,
2
services and activities.
Annual demand
The total estimated demand present in the market in any one year
for the type of units proposed.
Assisted housing
Housing where federal, state or other programs subsidize the
monthly costs to the tenants.
Bias
A proclivity or preference, particularly one that inhibits or entirely
prevents an impartial judgment.
Capture rate
The percentage of age, size, and income qualified renter households
in the primary market area that the property must capture to fill
the units. Funding agencies may require restrictions to the qualified
households used in the calculation including age, income, living in
substandard housing, mover-
ship and other comparable factors. The
Capture Rate is calculated by dividing the total number of units at
the property by the total number of age, size and income qualified
renter households in the primary market area. See also: penet
ration
rate.
Comparable property
A property that is representative of the rental housing choices of the
subject’s primary market area and that is similar in construction,
size, amenities, location, and/or age. Comparable and competitive
properties are g
enerally used to derive market rent and to evaluate
the subject’s position in the market. See the NCHMA white paper
Selecting Comparable Properties
Competitive property
A property that is comparable to the subject and that competes at
nearly the same re
nt levels and tenant profile, such as age, family or
income.
Comprehensive Market
Study
NCHMA defines a comprehensive market study for the purposes of
IRS Section 42 as a market study compliant with its Model Content
Standards for Market Studies for Rental Housing.
Additionally, use of
the suggested wording in the NC
HMA certification without limitations
regarding the comprehensive nature of the stud
y, shows compliance
with the IRS
Section 42 request for completion of a market study by
a ‘disinterested party.’
Concession
Discount given to a prospective tenant to induce the tenant to sign a
lease. Concessions typically are in the form of reduced rent or free
rent for a specific lease term, or for free amenities, which are
normally charged separately (i.e. washer/dryer, parking).
Demand
The total number of households in a defined market area that would
potentially move into the proposed new or renovated housing units.
These households must be of the appropriate age, income, tenure
and size for a specific proposed development. Components of
3
demand vary and can include household growth; turnover, those
living in substandard conditions, rent over-
burdened households, and
demolished housing units. Demand is project specific.
Effective rents
Contract rent less concessions.
Household trends
Changes in the number of households for a particular area over a
specific period of time, which is a function of new household
formations (e.g. at marriage or separation), changes in average
household size, and net migration.
Income band
The range of incomes of households that can afford to pay a specific
rent but do not have below any applicable program-specific
maximum income limits. The minimum household income typically is
based on a defined acceptable rent burden percentage and the
maximum typically is pre-defined by specific program requirements
or by general market parameters.
Infrastructure
Services and facilities including roads, highways, water, sewerage,
emergency services, parks and recreation, etc. Infrastructure
includes both public and private facilities.
Market advantage
The difference, expressed as a percentage, between the estimated
market rent for an apartment property without income restrictions
and the lesser of (a) the owner’s proposed rents o
r (b) the maximum
rents permitted by the financing program for the same apartment
property.
(market rent – proposed rent) / market rent * 100
Market analysis
A study of real estate market conditions for a specific type of
property.
Market area
See primary market area.
Market demand
The total number of households in a defined market area that would
potentially move into any new or renovated housing units. Market
demand is not project specific and refers to the universe of tenure
appropriate household
s, independent of income. The components of
market demand are similar to those used in determining project-
specific demand.
A common example of market demand used by HUD’s MAP program,
which is based on three years of renter household growth, loss of
existing units due to demolition, and market conditions.
Market rent
The rent that an apartment, without rent or income restrictions or
rent subsidies, would command in the primary market area
considering its location, features and amenities. Market rent should
be adjusted for concessions and owner paid utilities included in the
rent. See the NCHMA publication Calculating Market Rent.
4
Market study
A comprehensive study of a specific proposal including a review of
the housing market in a defined market area. Project specific
market studies are often used by developers, syndicators, and
government entities to determine the appropriateness of a proposed
development, whereas market specific market studies are used to
determine what housing needs, if any, exist within a specific
geography. The minimal content of a market study is shown in the
NCHMA publication Model Content for Market Studies for Rental
Housing.
Marketability
The manner in which the subject fits into the market; the relative
desirability of a property (for sale or lease) in comparison with
similar or competing properties in the area.
Market vacancy rate,
economic
Percentage of rent loss due to concessions, vacancies, and non-
payment of rent on occupied units.
Market vacancy rate,
physical
Average number of apartment units in any market which are
unoccupied divided by the total number of apartment units in the
same market, excluding units in properties which are in the lease-
up
stage.
Migration
The movement of households into or out of an area, especially a
primary market area.
Mixed income
property
An apartment property containing (1) both income restricted and
unrestricted units or (2) units restricted at two or more income
limits (i.e. low income tax credit property with income lim
its of 30%,
50% and 60%).
Mobility
The ease with which people move from one location to another.
Move-up demand
An estimate of how many consumers are able and willing to relocate
to more expensive or desirable units. Examples: tenants who move
from class-C properties to class-B properties, or tenants who move
from older tax credit properties to newer tax credit properties-
Multi-family
Structures that contain more than two housing units.
Neighborhood
An area of a city or town with common demographic and economic
features that distinguish it from adjoining areas.
Net rent (also referred
to as contract rent or
lease rent)
Gross rent less tenant paid utilities.
Penetration rate
The percentage of age and income qualified renter households in the
primary market area
that all existing and proposed properties, to be
completed within six months of the subject, and which are
competitively priced to the subject that must be captured to
5
achieve the stabilized level of occupancy. Funding agencies may
require restrictions to the qualified Households used in the
calculation including age, income, living in substandard housing,
mover ship and other comparable factors.
units in all proposals / households in market * 100
See also: capture rate.
Pent-up demand
A market in which there is a scarcity of supply and vacancy rates are
very low.
Population trends
Changes in population levels for a particular area over a specific
period of time—
which is a function of the level of births, deaths, and
net migration.
Primary market area
A geographic area from which a property is expected to draw the
majority of its residents. See the NCHMA publication Determining
Market Area.
Programmatic rents
See restricted rents.
Project based rent
assistance
Rental assistance from any source that is allocated to the property
or a specific number of units in the property and is available to each
income eligible tenant of the property or an assisted unit.
Redevelopment
The redesign or rehabilitation of existing properties.
Rent burden
Gross rent divided by adjusted monthly household income.
Rent burdened
households
Households with rent burden above the level determined by the
lender, investor, or public program to be an acceptable rent-to-
income ratio.
Restricted rent
The rent charged under the restrictions of a specific housing
program or subsidy.
Restricted rent,
Achievable
The rents that the project can attain taking into account both
market conditions and rent in the primary market area and income
restrictions.
Saturation
The point at which there is no longer demand to support additional
units. Saturation usually refers to a particular segment of a specific
market.
Secondary market
area
The portion of a market area that supplies additional support to an
apartment property beyond that provided by the primary market
area.
Special needs
population
Specific market niche that is typically not catered to in a
conventional apartment property. Examples of special needs
populations include: substance abusers, visually impaired person or
6
persons with mobility limitations.
Stabilized level of
occupancy
The underwritten or actual number of occupied units that a property
is expected to maintain after the initial rent-
up period, expressed as
a percentage of the total units.
Subsidy
Monthly income received by a tenant or by an owner on behalf of a
tenant to pay the difference between the apartment’s
contract rent
and the amount paid by the tenant toward rent.
Substandard
conditions
Housing conditions that are conventionally considered unacceptable
which may be defined in terms of lacking plumbing facilities, one or
more major systems not functioning properly, or overcrowded
conditions.
Target income band
The income band from which the subject property will draw tenants.
Target population
The market segment or segments a development will appeal or cater
to. State agencies often use target population to refer to various
income set asides, elderly v. family, etc.
Tenant paid utilities
The cost of utilities (not including cable, telephone, or internet)
necessary for the habitation of a dwelling unit, which are paid by
the tenant.
Turnover turnover
period
1. An estimate of the number of housing units in a market area as a
percentage of total housing units in the market area that will likely
change occupants in any one year. See also: vacancy period. Housing
units with new occupants / housing units * 100 2. The percent of
occupants in a given apartment complex that move in one year.
Unmet housing need
New units required in the market area to accommodate household
growth, homeless people, and households in substandard conditions.
Unrestricted rents
Rents that are not subject to restriction.
Unrestricted units
Units that are not subject to any income or rent restrictions.
Vacancy period
The amount of time that an apartment remains vacant and available
for rent.
Vacancy rate-
economic vacancy
rate - physical
Maximum potential revenue less actual rent revenue divided by
maximum potential rent revenue. The number of total habitable
units that are vacant divided by the total number of units in the
property.
7
II. Other Useful Terms
The terms in this section are not defined by NCHMA.
Terminology
Definition
Area Median Income
(AMI)
100% of the gross median household income for a specific
Metropolitan Statistical Area, county or non-metropolitan area
established annually by HUD.
Attached housing
Two or more dwelling units connected with party walls (e.g.
townhouses or flats).
Basic Rent
The minimum monthly rent that tenants who do not have rental
assistance pay to lease units developed through the USDA-
RD Section
515 Program, the HUD Section 236 Program and HUD Section
223(d)(3) Below Market Interest Rate Program. The Basic Rent is
calculated as the amount of rent required to operate the property,
maintain debt service on a subsidized mortgage with a below-
market
interest rate, and provide a return on equity to the developer in
accordance with the regulatory documents governing the property.
Below Market Interest
Rate Program (BMIR)
Program targeted to renters with income not exceeding 80% of area
median income by limiting rents based on HUD’s BMIR Program
requirements and through the provision of an interest reduction
contract to subsidize the market interest rate to a below-market
rate. Interest rates are typically subsidized to effective rates of one
percent or three percent.
Census Tract
A small, relatively permanent statistical subdivision delineated by a
local committee of census data users for the purpose of presenting
data. Census tract boundaries normally follow visible features, but
may follow governmental unit boundaries and other non-visible
features; they always nest within counties. They are designed to be
relatively homogeneous units with respect to population
characteristics, economic status, and living conditions at the time of
establishment. Census tracts average about 4,000 inhabitants.
Central Business
District (CBD)
The center of commercial activity within a town or city; usually the
largest and oldest concentration of such activity.
Community
Development
Corporation (CDC)
Entrepreneurial institution combining public and private resources to
aid in the development of socio-economically disadvantaged areas.
Condominium
A form of joint ownership and control of property in which specified
volumes of space (for example, apartments) are owned individually
while the common elements of the property (for example, outside
walls) are owned jointly.
8
Contract Rent
1.The actual monthly rent payable by the tenant, including any rent
subsidy paid on behalf of the tenant, to the owner, inclusive of all
terms of the lease. (HUD & RD) 2. The monthly rent agreed to
between a tenant and a landlord (Census).
Difficult Development
Area (DDA)
An area designated by HUD as an area that has high construction,
land, and utility costs relative to the Area Median Gross Income. A
project located in a DDA and utilizing the Low Income Housing Tax
Credit may qualify for up to 130% of eligi
ble basis for the purpose of
calculating the Tax Credit allocation.
Detached Housing
A freestanding dwelling unit, typically single-family, situated on its
own lot.
Elderly or Senior
Housing
Housing where (1) all the units in the property are restricted for
occupancy by persons 62 years of age or older or (2) at least 80% of
the units in each building are restricted for occupancy by Households
where at least one Household member is 55 years of age or older and
the housing is designed with amenities and facilities designed to
meet the needs of senior citizens.
Extremely Low Income
Person or Household with income below 30% of Area Median Income
adjusted for Household size.
Fair Market Rent
(FMR)
The estimates established by HUD of the Gross Rents (Contact Rent
plus Tenant Paid Utilities) needed to obtain modest rental units in
acceptable condition in a specific county or metropolitan statistical
area. HUD generally sets FMR so that 40% of the rental units have
rents below the FMR. In rental markets with a shortage of lower
priced rental units HUD may approve the use of Fair Market Rents
that are as high as the 50th percentile of rents.
Garden Apartments
Apartments in low-rise buildings (typically two to four stories) that
feature low density, ample open-space around buildings, and on-
site
parking.
Gross Rent
The monthly housing cost to a tenant which equals the Contract Rent
provided for in the lease plus the estimated cost of all Tenant Paid
Utilities.
High-rise
A residential building having more than ten stories.
Household
One or more people who occupy a housing unit as their usual place
of residence.
Housing Unit
House, apartment, mobile home, or group of rooms used as a
separate living quarters by a single household.
Housing Choice
Voucher (Section 8
Federal rent subsidy program under Section 8 of the U.S. Housing
Act, which issues rent vouchers to eligible Households to use in the
9
Program)
housing of their choice. The voucher payment subsidizes the
difference between the Gross Rent and the tenant’s contribution of
30% of adjusted income, (or 10% of gross income, whichever is
greater). In cases where 30% of the tenants’ income is less than the
utility allowance, the tenant will receive an assistance payment. In
other cases, the tena
nt is responsible for paying his share of the rent
each month.
Housing Finance
Agency (HFA)
State or local agencies responsible for financing housing and
administering Assisted Housing programs.
HUD Section 8
Program
Federal program that provides project based rental assistance.
Under the program HUD contracts directly with the owner for the
payment of the difference between the Contract Rent and a
specified percentage of tenants’ adjusted income.
HUD Section 202
Program
Federal Program, which provides direct capital assistance (i.e. grant)
and operating or rental assistance to finance housing designed for
occupancy by elderly households who have income not exceeding
50% of Area Median Income. The program is limited to housing owned
by 501(c)(3) non
profit organizations or by limited partnerships where
the sole general partner is a 501(c)(3) nonprofit organization. Units
receive HUD project based rental assistance that enables tenants to
occupy units at rents based on 30% of tenant income.
HUD Section 811
Program
Federal program, which provides direct capital assistance and
operating or rental assistance to finance housing designed for
occupancy by persons with disabilities who have income not
exceeding 50% of Area Median Income. The program is limited to
housing owned by 501(c)(3) nonprofit organizations or by limited
partnerships where the sole general partner is a 501(c)(3) nonprofit
organization.
HUD Section 236
Program
Federal program which provides interest reduction payments for
loans which
finance housing targeted to Households with income not
exceeding 80% of area median income who pay rent equal to the
greater of Basic Rent or 30 percent of their adjusted income. All
rents are capped at a HUD approved market rent.
Income Limits
Maximum Household income by county or Metropolitan Statistical
Area , adjusted for Household size and expressed as a percentage of
the Area Median Income for the purpose of establishing an upper
limit for eligibility for a specific housing program. Income Limits
for
federal, state and local rental housing programs typically are
established at 30%, 50%, 60% or 80% of AMI. HUD publishes Income
Limits each year for 30% median, Very Low Income (50%), and Low-
Income (80%), for households with 1 through 8 people.
Low Income
Person or Household with gross Household income below 80% of Area
Median Income adjusted for Household size.
10
Low Income Housing
Tax Credit
A program to generate equity for investment in affordable rental
housing authorized pursuant to Section 42 of the Internal Revenue
Code, as amended. The program requires that a certain percentage
of units built be restricted for occupancy to households earning 60%
or less of Area Median Income, and that the rents on these units be
restricted accordingly.
Low Rise Building
A building with one to three stories
Metropolitan
Statistical Area (MSA)
A geographic entity defined by the federal Office of Management
and Budget for use by federal statistical agencies, based on the
concept of a core area with a large population nucleus, plus
adjacent communities having a high degree of economic and social
integration with that core. Qualification of an MSA requires the
presence of a city with 50,000 or more inhabitants, or the presence
of an Urbanized Area (UA) and a
total population of at least 100,000
(75,000 in New England). The county or counties containing the
largest city and surrounding densely settled territory are central
counties of the MSA. Additional outlying counties qualify to be
included in the MSA by meeting certain other criteria of
metropolitan character, such as a specified minimum population
density or percentage of the population that is urban.
Mid-rise
A building with four to ten stories.
Moderate Income
Person or Household with gross household income between 80 and
120 percent of area median income adjusted for Household size.
Public Housing or Low
Income Conventional
Public Housing
HUD program administered by local (or regional) Housing Authorities
which serves Low- and Very-Low Income Ho
useholds with rent based
on the same formula used for HUD Section 8 assistance.
Qualified Census Tract
(QCT)
Any census tract (or equivalent geographic area defined by the
Bureau of the Census) in which at least 50% of Households have an
income less than 60% of Area Median Income or where the poverty
rate is at least 25%. A project located in a QCT and receiving Low
Income Housing Tax Credits may qualify for up to 130% of the
eligible basis for the purpose of calculating the Tax Credit
allocation.
Rural Development
(RD) Market Rent
A monthly rent that can be charged for an apartment under a
specific USDA-RD housing program, that reflects the agency’s
estimate of the rent required to operate the property, maintain debt
service on an un-subsidized mortgage and provide an adequate
return to the property owner. This rent is the maximum rent that a
tenant can pay at an RD Property.
Rural Development
(RD) Program
(Formerly the Farmers
Federal program which provides low interest loans to finance housing
which serves low- and moderate-income persons in rural areas who
pay 30 percent of their adjusted income on rent or the basic rent,
11
Home Administration
Section 515 Rural
Rental Housing
Program)
whichever is the higher (but not exceeding the market rent). The
Program may include property based rental assistance and interest
reduction contracts to write down the interest on the loan to as low
as one percent.
Single-Family Housing
A dwelling unit, either attached or detached, designed for use by
one Household and with direct access to a street. It does not share
heating facilities or other essential building facilities with any other
dwelling.
State Data Center
(SDC)
A state agency or university facility identified by the governor of
each state to participate
in the Census Bureau’s cooperative network
for the dissemination of the census data.
Tenant
One who rents real property from another.
Tenure
The distinction between owner-occupied and renter-occupied
housing units.
Townhouse (or Row
House)
Single-family attached residence separated from another by party
walls, usually on a narrow lot offering small front and back-yards;
also called a row house.
Very Low Income
Person or Household whose gross household income does not exceed
50% of Area Median Income adjusted for Household size.
Zoning
Classification and regulation of land by local governments according
to use categories (zones); often also includes density designations.
Houston Lake Homes, Perry, GA
2023
85
Gibson Consulting, LLC
85
Demographic Data
Pop-Facts
®
Census Demographics | Summary
Trade Area: PERRY, GA PMA
Total
%
Population
2010 Census
44,047
100.00
2020 Census
60,532
100.00
2023 Estimate
63,998
100.00
2028 Projection
69,366
100.00
Population Growth
Percent Change: 2010 to 2020
--
37.43
Percent Change: 2020 to 2023
--
5.73
Percent Change: 2023 to 2028
--
8.39
Total
%
Households
2010 Census
16,261
100.00
2020 Census
22,055
100.00
2023 Estimate
23,244
100.00
2028 Projection
25,109
100.00
Household Growth
Percent Change: 2010 to 2020
--
35.63
Percent Change: 2020 to 2023
--
5.39
Percent Change: 2023 to 2028
--
8.02
Total
%
Family Households
2010 Census
12,289
100.00
2023 Estimate
17,717
100.00
2028 Projection
19,146
100.00
Family Household Growth
Percent Change: 2020 to 2023
--
44.17
Percent Change: 2023 to 2028
--
8.07
Benchmark: USA
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(https://claritas.easpotlight.com/Spotlight/About/3/2023)
Pop-Facts
®
Census Demographics | Population & Race
Trade Area: PERRY, GA PMA
Total Population: 63,998
Count
%
2010 Population by Single Race Classification
White Alone
31,459
71.42
Black/Af rican American Alone
10,172
23.09
American Indian/Alaskan Native Alone
121
0.28
Asian Alone
868
1.97
Native Hawaiian/Pacific Islander Alone
31
0.07
Some Other Race Alone
483
1.10
Two or More Races
913
2.07
2010 Population by Ethnicity
Hispanic/Latino
1,649
3.74
Not Hispanic/Latino
42,398
96.26
2010 Hispanic/Latino Population by Single-Classification Race
White Alone
932
2.12
Black/Af rican American Alone
67
0.15
American Indian/Alaskan Native Alone
23
0.05
Asian Alone
13
0.03
Native Hawaiian/Pacific Islander Alone
6
0.01
Some Other Race Alone
428
0.97
Two or More Races
180
0.41
2010 Population by Sex
Male
21,701
49.27
Female
22,346
50.73
Male to Female Ratio
--
0.97
2010 Population by Age
Age 0 - 4
2,834
6.43
Age 5 - 9
3,164
7.18
Age 10 - 14
3,434
7.80
Age 15 - 17
2,182
4.95
Age 18 - 20
1,698
3.85
Age 21 - 24
1,867
4.24
Age 25 - 34
5,667
12.87
Age 35 - 44
6,320
14.35
Age 45 - 54
7,219
16.39
Age 55 - 64
4,844
11.00
Age 65 - 74
2,809
6.38
Age 75 - 84
1,522
3.46
Age 85+
487
1.11
Age 15+
34,615
78.59
Age 16+
33,876
76.91
Age 18+
32,433
73.63
Age 21+
30,735
69.78
Age 25+
28,868
65.54
Age 65+
4,818
10.94
Median Age
--
36.95
2010 Male Population by Age
Age 0 - 4
1,419
3.22
Age 5 - 9
1,648
3.74
Age 10 - 14
1,731
3.93
Age 15 - 17
1,169
2.65
Age 18 - 20
948
2.15
Age 21 - 24
965
2.19
Age 25 - 34
2,732
6.20
Age 35 - 44
3,058
6.94
Age 45 - 54
3,589
8.15
Age 55 - 64
2,357
5.35
Age 65 - 74
1,301
2.95
Age 75 - 84
641
1.46
Age 85+
143
0.33
Median Age, Male
--
35.83
2010 Female Population by Age
Age 0 - 4
1,415
3.21
Age 5 - 9
1,516
3.44
Age 10 - 14
1,703
3.87
Age 15 - 17
1,013
2.30
Age 18 - 20
750
1.70
Age 21 - 24
902
2.05
Age 25 - 34
2,935
6.66
Age 35 - 44
3,262
7.41
Age 45 - 54
3,630
8.24
Age 55 - 64
2,487
5.65
Age 65 - 74
1,508
3.42
Age 75 - 84
881
2.00
Age 85+
344
0.78
Median Age, Female
--
37.99
Benchmark:USA
© 2023 Claritas, LLC. All rights reserved. Source: ©Claritas, LLC 2023.
(https://claritas.easpotlight.com/Spotlight/About/3/2023)
Pop-Facts
®
Census Demographics | Housing & Households
Trade Area: PERRY, GA PMA
Total Households: 23,244
Count
%
2010 Households by Household Type
Family Households
12,289
75.57
NonFamily Households
3,972
24.43
2010 Group Quarters Population
Group Quarters Population
860
1.95
2010 Hispanic or Latino Households
Hispanic/Latino Households
419
2.58
2010 Households by Household Size
1-Person Household
3,406
20.95
2-Person Household
5,455
33.55
3-Person Household
3,160
19.43
4-Person Household
2,631
16.18
5-Person Household
1,073
6.60
6-Person Household
364
2.24
7+ Person Household
172
1.06
2010 Family Households by Type by Presence of Children
Married Couple Family, With Own Kids
4,186
34.06
Married Couple Family, Without Own Kids
5,187
42.21
Male Householder, With Own Kids
338
2.75
Male Householder, Without Own Kids
369
3.00
Female Householder, With Own Kids
1,278
10.40
Female Householder, Without Own Kids
931
7.58
2010 Households by Presence of People Under Age 18
Households with People Under 18 Years old
6,472
39.80
Married Couple Family
4,472
27.50
Other Family Household, Male Householder
428
2.63
Other Family Household, Female Householder
1,517
9.33
NonFamily Household, Male Householder
45
0.28
NonFamily Household, Female Householder
10
0.06
2010 Occupied Housing Units by Tenure
Renter-Occupied
3,917
24.09
Owner-Occupied
12,344
75.91
Benchmark: USA
© 2023 Claritas, LLC. All rights reserved. Source: ©Claritas, LLC 2023.
(https://claritas.easpotlight.com/Spotlight/About/3/2023)
Pop-Facts
®
Demographic Snapshot | Summary
Trade Area: PERRY, GA PMA
Population
2010 Census
44,047
2020 Census
60,532
2023 Estimate
63,998
2028 Projection
69,366
Population Growth
Percent Change: 2010 to 2020
37.43
Percent Change: 2020 to 2023
5.73
Percent Change: 2023 to 2028
8.39
Households
2010 Census
16,261
2020 Census
22,055
2023 Estimate
23,244
2028 Projection
25,109
Household Growth
Percent Change: 2010 to 2020
35.63
Percent Change: 2020 to 2023
5.39
Percent Change: 2023 to 2028
8.02
Family Households
2010 Census
12,289
2023 Estimate
17,717
2028 Projection
19,146
Family Household Growth
Percent Change: 2010 to 2023
44.17
Percent Change: 2023 to 2028
8.07
Benchmark: USA
© 2023 Claritas, LLC. All rights reserved. Source: ©Claritas, LLC 2023. (https://claritas.easpotlight.com/Spotlight/About/3/2023)
Pop-Facts
®
Demographic Snapshot | Population & Race
Trade Area: PERRY, GA PMA
Total Population: 63,998 | Total Households: 23,244
Count
%
2023 Est. Population by Single-Classification Race
White Alone
39,850
62.27
Black/Af rican American Alone
16,669
26.05
American Indian/Alaskan Native Alone
196
0.31
Asian Alone
1,548
2.42
Native Hawaiian/Pacific Islander Alone
57
0.09
Some Other Race Alone
1,069
1.67
Two or More Races
4,609
7.20
2023 Est. Population by Hispanic or Latino Origin
Not Hispanic or Latino
60,530
94.58
Hispanic or Latino
3,468
5.42
Mexican Origin
1,331
38.38
Puerto Rican Origin
613
17.68
Cuban Origin
287
8.28
All Other Hispanic or Latino
1,237
35.67
2023 Est. Pop by Race, Asian Alone, by Category
Chinese, except Taiwanese
133
8.59
Filipino
372
24.03
Japanese
6
0.39
Asian Indian
157
10.14
Korean
127
8.20
Vietnamese
463
29.91
Cambodian
0
0.00
Hmong
0
0.00
Laotian
0
0.00
Thai
7
0.45
All Other Asian Races Including 2+ Category
283
18.28
2023 Est. Pop Age 5+ by Language Spoken At Home
Speak Only English at Home
56,784
94.27
Speak Asian/Pacific Isl. Lang. at Home
593
0.98
Speak Indo-European Language at Home
777
1.29
Speak Spanish at Home
1,991
3.31
Speak Other Language at Home
91
0.15
2023 Est. Hisp. or Latino Pop by Single-Class. Race
White Alone
879
25.35
Black/Af rican American Alone
204
5.88
American Indian/Alaskan Native Alone
63
1.82
Asian Alone
27
0.78
Native Hawaiian/Pacific Islander Alone
7
0.20
Some Other Race Alone
847
24.42
Two or More Races
1,441
41.55
Benchmark: USA
© 2023 Claritas, LLC. All rights reserved. Source: ©Claritas, LLC 2023. (https://claritas.easpotlight.com/Spotlight/About/3/2023)
Pop-Facts
®
Demographic Snapshot | Population & Race
Trade Area: PERRY, GA PMA
Total Population: 63,998 | Total Households: 23,244
Count
%
2023 Est. Population by Sex
Male
31,112
48.61
Female
32,886
51.39
2023 Est. Population by Age
Age 0 - 4
3,762
5.88
Age 5 - 9
3,982
6.22
Age 10 - 14
4,492
7.02
Age 15 - 17
2,716
4.24
Age 18 - 20
2,482
3.88
Age 21 - 24
3,281
5.13
Age 25 - 34
8,791
13.74
Age 35 - 44
8,043
12.57
Age 45 - 54
8,029
12.55
Age 55 - 64
8,341
13.03
Age 65 - 74
6,157
9.62
Age 75 - 84
2,997
4.68
Age 85 and over
925
1.45
Age 16 and over
50,865
79.48
Age 18 and over
49,046
76.64
Age 21 and over
46,564
72.76
Age 65 and over
10,079
15.75
Median Age
--
38.04
Average Age
--
39.06
2023 Est. Pop Age 15+ by Marital Status
Total, Never Married
14,192
27.42
Male, Never Married
8,208
15.86
Female, Never Married
5,984
11.56
Married, Spouse Present
27,353
52.84
Married, Spouse Absent
2,182
4.21
Widowed
2,344
4.53
Male, Widowed
345
0.67
Female, Widowed
1,999
3.86
Divorced
5,691
10.99
Male, Divorced
2,302
4.45
Female, Divorced
3,389
6.55
2023 Est. Male Population by Age
Male: Age 0 - 4
1,881
6.05
Male: Age 5 - 9
2,006
6.45
Male: Age 10 - 14
2,257
7.25
Male: Age 15 - 17
1,425
4.58
Male: Age 18 - 20
1,318
4.24
Male: Age 21 - 24
1,707
5.49
Male: Age 25 - 34
4,393
14.12
Male: Age 35 - 44
3,759
12.08
Male: Age 45 - 54
3,811
12.25
Male: Age 55 - 64
4,031
12.96
Male: Age 65 - 74
2,914
9.37
Male: Age 75 - 84
1,286
4.13
Male: Age 85 and over
324
1.04
Median Age, Male
--
36.44
Average Age, Male
--
38.07
2023 Est. Female Population by Age
Female: Age 0 - 4
1,881
5.72
Female: Age 5 - 9
1,976
6.01
Female: Age 10 - 14
2,235
6.80
Female: Age 15 - 17
1,291
3.93
Female: Age 18 - 20
1,164
3.54
Female: Age 21 - 24
1,574
4.79
Female: Age 25 - 34
4,398
13.37
Female: Age 35 - 44
4,284
13.03
Female: Age 45 - 54
4,218
12.83
Female: Age 55 - 64
4,310
13.11
Female: Age 65 - 74
3,243
9.86
Female: Age 75 - 84
1,711
5.20
Female: Age 85 and over
601
1.83
Median Age, Female
--
39.47
Average Age, Female
--
40.00
Benchmark: USA
© 2023 Claritas, LLC. All rights reserved. Source: ©Claritas, LLC 2023. (https://claritas.easpotlight.com/Spotlight/About/3/2023)
Pop-Facts
®
Demographic Snapshot | Housing & Households
Trade Area: PERRY, GA PMA
Total Population: 63,998 | Total Households: 23,244
Count
%
2023 Est. Households by Household Type
Family Households
17,717
76.22
NonFamily Households
5,527
23.78
2023 Est. Group Quarters Population
2023 Est. Group Quarters Population
815
1.27
2023 HHs By Ethnicity, Hispanic/Latino
2023 HHs By Ethnicity, Hispanic/Latino
931
4.00
2023 Est. Family HH Type by Presence of Own Child.
Married Couple Family, own children
6,247
35.26
Married Couple Family, no own children
7,459
42.10
Male Householder, own children
477
2.69
Male Householder, no own children
517
2.92
Female Householder, own children
1,738
9.81
Female Householder, no own children
1,279
7.22
2023 Est. Households by Household Size
1-Person Household
4,987
21.45
2-Person Household
7,457
32.08
3-Person Household
4,914
21.14
4-Person Household
4,008
17.24
5-Person Household
1,339
5.76
6-Person Household
291
1.25
7-or-more-person
248
1.07
2023 Est. Average Household Size
--
2.72
2023 Est. Households by Number of Vehicles
No Vehicles
1,020
4.39
1 Vehicle
5,278
22.71
2 Vehicles
10,342
44.49
3 Vehicles
4,227
18.18
4 Vehicles
1,693
7.28
5 or more Vehicles
684
2.94
2023 Est. Average Number of Vehicles
--
2.12
2023 Est. Occupied Housing Units by Tenure
Housing Units, Owner-Occupied
17,961
77.27
Housing Units, Renter-Occupied
5,283
22.73
2023 Owner Occ. HUs: Avg. Length of Residence
2023 Owner Occ. HUs: Avg. Length of Residence
--
12.32
2023 Renter Occ. HUs: Avg. Length of Residence
2023 Renter Occ. HUs: Avg. Length of Residence
--
5.54
2023 Est. Owner-Occupied Housing Units by Value
Value Less Than $20,000
232
1.29
Value $20,000 - $39,999
280
1.56
Value $40,000 - $59,999
180
1.00
Value $60,000 - $79,999
646
3.60
Value $80,000 - $99,999
545
3.03
Value $100,000 - $149,999
1,793
9.98
Value $150,000 - $199,999
3,609
20.09
Value $200,000 - $299,999
5,732
31.91
Value $300,000 - $399,999
2,406
13.40
Value $400,000 - $499,999
1,680
9.35
Value $500,000 - $749,999
645
3.59
Value $750,000 - $999,999
176
0.98
Value $1,000,000 - $1,499,999
5
0.03
Value $1,500,000 - $1,999,999
13
0.07
Value $2,000,000 or more
19
0.11
2023 Est. Median All Owner-Occupied Housing Value
--
225,434.38
Benchmark: USA
© 2023 Claritas, LLC. All rights reserved. Source: ©Claritas, LLC 2023. (https://claritas.easpotlight.com/Spotlight/About/3/2023)
Pop-Facts
®
Demographic Snapshot | Housing & Households
Trade Area: PERRY, GA PMA
Total Population: 63,998 | Total Households: 23,244
Count
%
2023 Est. Housing Units by Units in Structure
1 Unit Attached
127
0.52
1 Unit Detached
20,585
83.52
2 Units
235
0.95
3 to 4 Units
500
2.03
5 to 19 Units
1,274
5.17
20 to 49 Units
141
0.57
50 or More Units
159
0.65
Mobile Home or Trailer
1,615
6.55
Boat, RV, Van, etc.
10
0.04
2023 Est. Housing Units by Year Structure Built
Built 2014 or Later
3,895
15.80
Built 2010 to 2013
1,512
6.13
Built 2000 to 2009
6,944
28.18
Built 1990 to 1999
4,351
17.65
Built 1980 to 1989
2,663
10.80
Built 1970 to 1979
1,970
7.99
Built 1960 to 1969
1,501
6.09
Built 1950 to 1959
993
4.03
Built 1940 to 1949
226
0.92
Built 1939 or Earlier
591
2.40
2023 Housing Units by Year Structure Built
2023 Est. Median Year Structure Built
--
2,000.04
2023 Est. Households by Presence of People Under 18
2023 Est. Households by Presence of People Under 18
9,406
40.47
Households with 1 or More People under Age 18
Married Couple Family
6,666
70.87
Other Family, Male Householder
600
6.38
Other Family, Female Householder
2,060
21.90
NonFamily Household, Male Householder
64
0.68
NonFamily Household, Female Householder
16
0.17
2023 Est. Households with No People under Age 18
Households with No People under Age 18
13,838
59.53
Households with No People under Age 18
Married Couple Family
7,045
50.91
Other Family, Male Householder
389
2.81
Other Family, Female Householder
959
6.93
NonFamily, Male Householder
2,666
19.27
NonFamily, Female Householder
2,779
20.08
Benchmark: USA
© 2023 Claritas, LLC. All rights reserved. Source: ©Claritas, LLC 2023. (https://claritas.easpotlight.com/Spotlight/About/3/2023)
Pop-Facts
®
Demographic Snapshot | Affluence & Education
Trade Area: PERRY, GA PMA
Total Population: 63,998 | Total Households: 23,244
Count
%
2023 Est. Pop Age 25+ by Edu. Attainment
Less than 9th Grade
1,005
2.32
Some High School, No Diploma
1,365
3.15
High School Graduate (or GED)
11,493
26.55
Some College, No Degree
9,740
22.50
Associate's Degree
5,539
12.80
Bachelor's Degree
8,600
19.87
Master's Degree
4,425
10.22
Professional Degree
565
1.30
Doctorate Degree
551
1.27
2023 Est. Pop Age 25+ by Edu. Attain., Hisp./Lat.
Less than High School Diploma
123
6.76
High School Graduate
585
32.16
Some College or Associate's Degree
721
39.64
Bachelor's Degree or Higher
390
21.44
2023 Est. Households by HH Income
Income < $15,000
1,848
7.95
Income $15,000 - $24,999
1,335
5.74
Income $25,000 - $34,999
1,345
5.79
Income $35,000 - $49,999
2,217
9.54
Income $50,000 - $74,999
3,352
14.42
Income $75,000 - $99,999
3,869
16.64
Income $100,000 - $124,999
2,621
11.28
Income $125,000 - $149,999
1,946
8.37
Income $150,000 - $199,999
2,463
10.60
Income $200,000 - $249,999
1,109
4.77
Income $250,000 - $499,999
911
3.92
Income $500,000+
228
0.98
2023 Est. Average Household Income
--
103,630.65
2023 Est. Median Household Income
--
84,688.51
2023 Median HH Inc. by Single-Class. Race or Eth.
White Alone
--
92,178.93
Black or African American Alone
--
68,144.42
American Indian and Alaskan Native Alone
--
58,329.07
Asian Alone
--
96,697.36
Native Hawaiian and Other Pacific Islander Alone
--
128,860.98
Some Other Race Alone
--
60,376.90
Two or More Races
--
82,976.72
Hispanic or Latino
--
103,375.84
Not Hispanic or Latino
--
83,392.13
2023 Est. Families by Poverty Status
2023 Families at or Above Poverty
16,830
94.99
2023 Families at or Above Poverty with children
7,999
45.15
2023 Families Below Poverty
887
5.01
2023 Families Below Poverty, with kids
682
3.85
Benchmark: USA
© 2023 Claritas, LLC. All rights reserved. Source: ©Claritas, LLC 2023. (https://claritas.easpotlight.com/Spotlight/About/3/2023)
Pop-Facts
®
Demographic Snapshot | Employment & Occupation
Trade Area: PERRY, GA PMA
Total Population: 63,998 | Total Households: 23,244
Count
%
2023 Est. Employed Civilian Population 16+ by Occupation Classification
White Collar
19,070
61.18
Blue Collar
6,727
21.58
Service and Farming
5,372
17.23
2023 Est. Workers Age 16+ by Travel Time to Work
Less than 15 Minutes
7,284
24.22
15 - 29 Minutes
14,116
46.93
30 - 44 Minutes
6,170
20.51
45 - 59 Minutes
703
2.34
60 or more Minutes
1,804
6.00
2023 Est. Avg Travel Time to Work in Minutes
--
25.88
2023 Est. Workers Age 16+ by Transp. to Work
2023 Est. Workers Age 16+ by Transp. to Work
31,436
100.00
Drove Alone
26,910
85.60
Carpooled
2,656
8.45
Public Transport
47
0.15
Walked
236
0.75
Bicycle
22
0.07
Other Means
197
0.63
Worked at Home
1,368
4.35
2023 Est. Civ. Employed Pop 16+ by Class of Worker
2023 Est. Civ. Employed Pop 16+ by Class of Worker
31,169
100.00
For-Profit Private Workers
17,698
56.78
Non-Profit Private Workers
1,450
4.65
Local Government Workers
2,499
8.02
State Government Workers
1,427
4.58
Federal Government Workers
5,201
16.69
Self-Employed Workers
2,890
9.27
Unpaid Family Workers
4
0.01
2023 Est. Civ. Employed Pop 16+ by Occupation
Architecture/Engineering
915
2.94
Arts/Design/Entertainment/Sports/Media
530
1.70
Building/Grounds Cleaning/Maintenance
737
2.37
Business/Financial Operations
2,237
7.18
Community/Social Services
344
1.10
Computer/Mathematical
1,148
3.68
Construction/Extraction
1,278
4.10
Education/Training/Library
1,862
5.97
Farming/Fishing/Forestry
85
0.27
Food Preparation/Serving Related
1,863
5.98
Healthcare Practitioner/Technician
2,013
6.46
Healthcare Support
1,061
3.40
Installation/Maintenance/Repair
2,170
6.96
Legal
293
0.94
Life/Physical/Social Science
226
0.72
Management
2,794
8.96
Of f ice/Administrative Support
4,177
13.40
Production
1,561
5.01
Protective Services
799
2.56
Sales/Related
2,531
8.12
Personal Care/Service
827
2.65
Transportation/Material Moving
1,718
5.51
2023 Est. Pop Age 16+ by Employment Status
In Armed Forces
1,379
2.71
Civilian - Employed
31,205
61.35
Civilian - Unemployed
1,148
2.26
Not in Labor Force
17,133
33.68
Benchmark: USA
© 2023 Claritas, LLC. All rights reserved. Source: ©Claritas, LLC 2023. (https://claritas.easpotlight.com/Spotlight/About/3/2023)
Pop-Facts
®
Demographic Snapshot | Map
Trade Area: PERRY, GA PMA
Total Population: 63,998 | Total Households: 23,244
Benchmark: USA
© 2023 Claritas, LLC. All rights reserved. Source: ©Claritas, LLC 2023. (https://claritas.easpotlight.com/Spotlight/About/3/2023)
©2006-2023 TomTom
Report Details
Name: Executive Dashboard
Date / Time: 5/16/2023 12:38:14 PM
Workspace Vintage: 2023
Trade Area
Name Level Geographies
PERRY, GA PMA Census Tract 13153-021108; 13153-021114; 13153-
021115; 13153-021203; 13153-021204;
13153-021205; 13153-021206; 13153-
021300; 13153-021401; 13153-021402;
13153-021501; 13153-021502
Benchmark
Name Level Geographies
USA Entire US United States
DataSource
Product Provider Copyright
Claritas Pop-Facts® Premier 2023 Claritas ©Claritas, LLC 2023
(https://claritas.easpotlight.com/Spotlight/About/3/2023#289)
SPOTLIGHT Pop-Facts® Premier 2023,
including 2000 and 2010 US Census, 2023
estimates and 2028 projections
Claritas © 2023 Claritas, LLC. All Rights Reserved.
Pop-Facts is a registered trademark of
Claritas, LLC.
(https://claritas.easpotlight.com/Spotlight/About/3/2023#289)