Market Data, Charlottesville Virginia, 2011-02-24

Multifamily Market Data
Charlottesville, Virginia
2/24/2011
The following tables provide summary data for the Charlottesville, Virginia multifamily market. Detailed data
and other supporting information is found in the following pages. Feel free to contact Jeff Carroll (President,
Allen & Associates Consulting, Inc.) with any questions you may have regarding this information. He can be
reached at 704-905-2276 or jcarroll@allenadvisors.com.
Economic Outlook
Region State US
Nominal GDP Growth - - 4.5%
Real GDP Growth - - 3.2%
CPI Change - - 1.1%
10-Year Treasury Yield - - 2.65%
Industrial Capacity Utilization - - 74.80%
Unemployment 5.1% 6.4% 9.2%
Civilian Job Growth 2.3% 1.5% 1.0%
Establishment Job Growth (2000-10) 1.5% 0.9% 0.5%
Establishment Job Growth (2010-15) 1.4% 1.7% 1.4%
Manufacturing Job Growth (2000-10) -1.9% -3.6% -3.6%
Manufacturing Job Growth (2010-15) 1.3% 0.2% 0.2%
Demographic Outlook
Region Charlottesville and Albemarle, Virginia

(see accompanying map)
Charlottesville and Albemarle, Virginia 2000 2010 2015

Population 124,285 136,255 141,129
Households 48,777 55,424 58,125
Renter Households 20,791 21,969 22,898
Household Income $60,597 $79,437 $88,304
Market Area Charlottesville, Virginia Market Area

Charlottesville, Virginia Market Area 2000 2010 2015

Population 61,194 60,173 60,767
Households 24,224 26,006 26,569
Renter Households 14,250 14,337 14,672
Household Income $46,991 $61,700 $67,950
Supply Analysis
Market Area Charlottesville, Virginia Market Area

Charlottesville, Virginia Market Area Elderly Family Total

Properties Surveyed, Market Rate 6 68 74
Properties Surveyed, Restricted 3 12 15
Properties Surveyed, Subsidized 1 1 2
Properties Surveyed, Total 10 81 91
Units Surveyed, Market Rate 546 6,650 7,196

Units Surveyed, Restricted 203 1,155 1,358
Units Surveyed, Subsidized 120 311 431
Units Surveyed, Total 869 8,116 8,985
Occupancy Rate, Market Rate 82% 95% 94%

Occupancy Rate, Restricted 92% 88% 89%
Occupancy Rate, Subsidized 100% 83% 87%
Occupancy Rate, Total 86% 93% 93%
Charlottesville, Virginia Market Area Subsidized Restricted Market Rate

Square Foot Rent, 0 Bedroom $1.83 $1.35 $1.75
Square Foot Rent, 4 Bedroom $0.88 - $1.62
MARKET AREA
Overview
Market areas are influenced by a variety of interrelated factors. These factors include site location, economic,
and demographic characteristics (tenure, income, rent levels, etc.), local transportation patterns, physical
boundaries (rivers, streams, topography, etc.), census geographies, and the location of comparable and/or
potentially competing communities.
In areas where the county seat is the largest city, centrally located, and draws from the entire county, the
county may be the market area. In the case where there are potentially competing communities in one county,
the market area may be part of the county. In fact, the market area could include portions of adjacent counties.
In this case, a combination of county subdivisions may be used to define the market area. In urban or suburban
areas, the market area will be adjacent to the site extending to all locations of similar character with residents
or potential residents likely to be interested in the project. In this case, county subdivisions, townships, or a
combination of census tracts may be used to define the market area.
Allen & Associates recently conducted a series of property management interviews to better understand market
areas and resident moving patterns for affordable multifamily properties. Our study suggested that markets
may be classified into the following general categories: urban, suburban and rural. Renters in urban markets
are typically willing to move 5 to 10 minutes when looking for a new apartment. Our research also shows that
renters in suburban markets are normally willing to move 10 to 15 minutes when looking for a new place to live.
Renters in rural markets are typically willing to move 15 to 20 minutes when looking for a new apartment. We
considered these general guidelines in our evaluation of the subject property.
Our study suggested that secondary market areas were generally a function of whether the proposed
development was family or elderly. Our research suggested that secondary market demand for family
properties ranged from 10 to 30 percent. Secondary market demand for elderly properties ranged from 10 to 50
percent. Although seniors move less frequently than younger renters, they are often willing to move longer
distances when looking for housing. We considered these general secondary market guidelines in our
evaluation of the subject property.
Our primary and secondary market area definitions are found below.
Primary Market Area

We defined the primary market area by generating a drive time zone around the subject property and analyzing
median rents and average household income levels in the area. We also considered population densities,
existing concentrations of multifamily properties and the nearest census tract boundaries in our analysis.
Based on our evaluation of the local market, we concluded that the primary market area includes the following
2000 Census Tracts:
% Census Tract County State Country/Region 2000 Pop Eff Pop

4% 104 Albemarle Virginia United States 6,404 256
70% 105 Albemarle Virginia United States 2,614 1,830
100% 109.01 Albemarle Virginia United States 1,878 1,878
100% 109.02 Albemarle Virginia United States 738 738
100% 109.03 Albemarle Virginia United States 135 135
Section 7 - Market Area Allen and Associates Consulting

100% 1 Charlottesville Virginia United States 688 688
100% 2.01 Charlottesville Virginia United States 2,827 2,827
100% 6 Charlottesville Virginia United States 4,229 4,229
Total 61,194
The primary market area covers a total of 35.9 square miles and is 6.8 miles across on average.
Secondary Market Area

We also estimate that up to 20 percent of multifamily demand will come from areas outside of the primary
market area.
Market Area Map

Market area, drive time and existing multifamily maps depicting the location of the subject property are
presented in the following pages:

Market Area.pdf
Site

Site Drive Time.pdf

Existing Multifamily.pdf
Site

ECONOMIC OUTLOOK
In this section we conduct an analysis of the national, state and regional economy. Our analysis begins with a
general overview of the national economy.
Gross Domestic Product

In this section we evaluate gross domestic product for the nation since the 1990s. Our analysis includes an
evaluation of nominal (current $) GDP and real (2005 $) GDP. We also evaluate money supply and money
velocity; money supply and money velocity are critical components of GDP that affect inflation. Our discussion
begins with an evaluation of nominal GDP:
Nominal Gross Domestic Product

Nominal gross domestic product is a measure of aggregate supply in current dollars. Increases in price levels
and productivity result in increases in nominal gross domestic product.
The following table and graph show nominal gross domestic product for the nation since the 1990s. The data
set comes from the Bureau of Economic Analysis:
Nominal GDP ($ billions)

Year Nominal GDP Change
1999 $9,354 6.4%
2000 $9,952 6.4%
2001 $10,286 3.4%
2002 $10,642 3.5%
2003 $11,142 4.7%
2004 $11,868 6.5%
2005 $12,638 6.5%
2006 $13,399 6.0%
2007 $14,078 5.1%
2008 $14,441 2.6%
2009 $14,258 -1.3%
Source: Bureau of Economic Analysis
Annual Change in Nominal Gross Domestic Product
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
1998 2000 2002 2004 2006 2008 2010
Section 8 - Economic Outlook Allen and Associates Consulting

The following table and graph show the nominal gross domestic product for the nation over the past 12
months. The data set comes from the Bureau of Economic Analysis:
Nominal GDP ($ billions)

Month Nominal GDP Change
Sep-09 $14,115
Oct-09 $14,177 1.1%
Nov-09 $14,237 1.8%
Dec-09 $14,277 0.6%
Jan-10 $14,251 0.6%
Feb-10 $14,421 2.3%
Mar-10 $14,446 2.8%
Apr-10 $14,393 3.2%
May-10 $14,529 3.5%
Jun-10 $14,579 3.9%
Jul-10 $14,575 3.8%
Aug-10 $14,651 4.5%
Sep-10 $14,750 4.5%
Annual Change in Nominal Gross Domestic Product
5.0%
4.5%
4.0%
3.5%
3.0%
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%
Aug-09 Oct-09 Dec-09 Jan-10 Mar-10 May-10 Jun-10 Aug-10 Sep-10
Over the past 12 months nominal GDP increased from $14,115 billion to $14,750 billion, or 4.5 percent. Over
the past three years nominal GDP increased at an average annual rate of 4.1 percent.

Real Gross Domestic Product
Real gross domestic product is a measure of aggregate supply in constant dollars. Increases in real gross
domestic product are sometimes thought of as increases in productivity.
The following table and graph show the real gross domestic product for the nation since the 1990s. The data
set comes from the Bureau of Economic Analysis:
Real GDP ($ billions)

Year Real GDP Change
1991 $8,015 -0.2%
1992 $8,287 3.4%
1993 $8,523 2.9%
1994 $8,871 4.1%
1995 $9,094 2.5%
1996 $9,434 3.7%
1997 $9,854 4.5%
1998 $10,284 4.4%
1999 $10,780 4.8%
2000 $11,226 4.1%
2001 $11,347 1.1%
2002 $11,553 1.8%
2003 $11,841 2.5%
2004 $12,264 3.6%
2005 $12,638 3.1%
2006 $12,976 2.7%
2007 $13,254 2.1%
2008 $13,312 0.4%
2009 $12,990 -2.4%
Annual Change in Real Gross Domestic Product
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
-3.0%
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

The following table and graph show the real gross domestic product for the nation over the past 12 months.
The data set comes from the Bureau of Economic Analysis:
Real GDP ($ billions)

Month Real GDP Change
Sep-09 $12,861
Oct-09 $12,914 -1.4%
Nov-09 $12,966 -0.6%
Dec-09 $13,019 0.2%
Jan-10 $13,059 0.9%
Feb-10 $13,099 1.6%
Mar-10 $13,139 2.4%
Apr-10 $13,158 2.6%
May-10 $13,176 2.8%
Jun-10 $13,195 3.0%
Jul-10 $13,222 3.1%
Aug-10 $13,250 3.2%
Sep-10 $13,277 3.2%
Annual Change in Real Gross Domestic Product
4.0%
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
Over the past 12 months real GDP increased from $12,861 billion to $13,277 billion, or 3.2 percent. Over the
past three years real GDP increased at an average annual rate of 0.9 percent.

Money Supply
The following table and graph show the money supply for the nation since the 1990s. The data set (M2 as
defined by the Federal Reserve) follows:
Money Supply (M2, $ billions)

Year Money Supply Change
1991 $3,391 3.1%
1992 $3,447 1.6%
1993 $3,502 1.6%
1994 $3,518 0.5%
1995 $3,664 4.2%
1996 $3,840 4.8%
1997 $4,054 5.6%
1998 $4,398 8.5%
1999 $4,657 5.9%
2000 $4,940 6.1%
2001 $5,451 10.3%
2002 $5,793 6.3%
2003 $6,082 5.0%
2004 $6,427 5.7%
2005 $6,685 4.0%
2006 $7,047 5.4%
2007 $7,443 5.6%
2008 $8,242 10.7%
2009 $8,524 3.4%
Source: Federal Reserve
Annual Change in Money Supply
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

The following table and graph show the money supply for the nation over the past 12 months. The data set
comes from the Federal Reserve:
Money Supply (M2, $ billions)

Month Money Supply Change
Sep-09 $8,459
Oct-09 $8,492 6.1%
Nov-09 $8,523 5.7%
Dec-09 $8,543 3.5%
Jan-10 $8,486 2.0%
Feb-10 $8,546 2.3%
Mar-10 $8,520 1.3%
Apr-10 $8,491 1.5%
May-10 $8,573 1.6%
Jun-10 $8,605 1.8%
Jul-10 $8,603 1.9%
Aug-10 $8,649 2.7%
Sep-10 $8,709 3.0%
Annual Change in Money Supply
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
Over the past 12 months the money supply increased from $8,459 billion to $8,709 billion, or 3.0 percent. Over
the past three years the money supply increased at an average annual rate of 8.4 percent.

Money Velocity
Money velocity measures the average number of times a year that a dollar is used to buy final goods and
services. Higher velocities are associated with a higher propensity to spend; lower velocities are associated
with a higher propensity to save. Money velocity is derived by dividing nominal gross domestic product by
money supply.
The following table and graph show money velocity for the nation since the 1990s. The time series is derived
using Federal Reserve and Bureau of Economic Analysis data:
Money Velocity (Nominal GDP / M2 Money Supply)

Year Money Velocity Change
1991 1.77 0.2%
1992 1.84 4.1%
1993 1.90 3.5%
1994 2.01 5.8%
1995 2.02 0.5%
1996 2.04 0.9%
1997 2.06 0.7%
1998 2.00 -2.7%
1999 2.01 0.5%
2000 2.01 0.3%
2001 1.89 -6.3%
2002 1.84 -2.6%
2003 1.83 -0.3%
2004 1.85 0.8%
2005 1.89 2.4%
2006 1.90 0.6%
2007 1.89 -0.5%
2008 1.75 -7.4%
2009 1.67 -4.5%
Source: Federal Reserve; Bureau of Economic Analysis
Annual Change in Money Velocity
8.0%
6.0%
4.0%
2.0%
0.0%
-2.0%
-4.0%
-6.0%
-8.0%
-10.0%
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

The following table and graph show the money velocity for the nation over the past 12 months. The time series
is derived using Federal Reserve and Bureau of Economic Analysis data:
Money Velocity (Nominal GDP / M2 Money Supply)

Month Money Velocity Change
Sep-09 1.67
Oct-09 1.67 -4.7%
Nov-09 1.67 -3.7%
Dec-09 1.67 -2.8%
Jan-10 1.68 -1.4%
Feb-10 1.69 0.0%
Mar-10 1.70 1.5%
Apr-10 1.70 1.7%
May-10 1.69 1.9%
Jun-10 1.69 2.0%
Jul-10 1.69 1.9%
Aug-10 1.69 1.7%
Sep-10 1.69 1.5%
Annual Change in Money Velocity
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
-3.0%
-4.0%
-5.0%
-6.0%
Over the past 12 months the money velocity increased from 1.67 to 1.69, or 1.5 percent. Over the past seven
years the money velocity averaged 1.83.

Inflation Outlook
Inflation can be estimated by adding the anticipated annual change in money supply to the anticipated annual
change in money velocity and then subtracting the anticipated annual change in real gross domestic product.
In the immediate term, we anticipate that the money supply will grow 4.0 percent annually. We also anticipate
that money velocity will grow 2.0 percent per year, accompanied by real gross domestic product growth of 3.0
percent. This results in an estimated annual inflation rate of 3.0 percent.
Many economists maintain that inflationary pressures will begin to take place once the national unemployment
rate falls below 6.0 percent and industrial capacity utilization rises above 80 percent. These figures currently
stand at 9.2 percent and 75 percent, respectively.
During the expected recovery, we anticipate that the money supply will grow 10.0 percent annually. We also
anticipate that money velocity will grow 6.0 percent per year, accompanied by real gross domestic product
growth of 4.0 percent. This results in an estimated annual inflation rate of 12.0 percent.
After the economy has recovered, we anticipate that the money supply will grow 10.0 percent annually. We
also anticipate that money velocity will grow 0.0 percent per year, accompanied by real gross domestic product
growth of 4.0 percent. This results in an estimated annual inflation rate of 6.0 percent.

Consumer Price Index
The following table and graph give the consumer price index for the nation since the 1990s. The data set
comes from the Bureau of Labor Statistics:
Consumer Price Index

Year Index Change
1991 136.2 4.2%
1992 140.3 3.0%
1993 144.5 3.0%
1994 148.2 2.6%
1995 152.4 2.8%
1996 156.9 3.0%
1997 160.5 2.3%
1998 163.0 1.6%
1999 166.6 2.2%
2000 172.2 3.4%
2001 177.1 2.8%
2002 179.9 1.6%
2003 184.0 2.3%
2004 188.9 2.7%
2005 195.3 3.4%
2006 201.6 3.2%
2007 207.3 2.8%
2008 215.3 3.9%
2009 214.5 -0.4%
Sep-09 216.0
Sep-10 218.4 1.1%
Source: Bureau of Labor Statistics
Annual Consumer Price Index Change
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
-1.0%
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Over the past 12 months the consumer price index increased from 216.0 to 218.4, or 1.1 percent. Over the
past three years the consumer price index increased at an average annual rate of 3.2 percent.

Interest Rates
The 10-year treasury yield is generally considered to be the best interest rate index for commercial real estate
transactions. The following table and graph give the 10-year treasury rate for the nation since the 1990s. The
data set comes from the Federal Reserve:
10-Year Treasury Yield

Year Yield Change
1991 7.86% -0.69%
1992 7.01% -0.85%
1993 5.87% -1.14%
1994 7.09% 1.22%
1995 6.57% -0.52%
1996 6.44% -0.13%
1997 6.35% -0.09%
1998 5.26% -1.09%
1999 5.65% 0.39%
2000 6.03% 0.38%
2001 5.02% -1.01%
2002 4.61% -0.41%
2003 4.01% -0.60%
2004 4.27% 0.26%
2005 4.29% 0.02%
2006 4.80% 0.51%
2007 4.63% -0.17%
2008 3.66% -0.97%
2009 3.26% -0.40%
Sep-09 3.40%
Sep-10 2.65% -0.75%
10-Year Treasury Yield
9.00%
8.00%
7.00%
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Over the past 12 months the 10-year treasury rate decreased from 3.40 to 2.65 percent, or 0.75 percent.

Industrial Capacity Utilization
Industrial capacity utilization is a good measure of the health of the nation's manufacturing and industrial
sector. The following table and graph give industrial capacity utilization data for the nation since the 1990s. The
data set comes from the Federal Reserve:

Year Yield Change
1991 79.8% -2.7%
1992 80.4% 0.6%
1993 81.5% 1.1%
1994 83.5% 2.0%
1995 84.0% 0.5%
1996 83.4% -0.6%
1997 84.2% 0.8%
1998 83.0% -1.2%
1999 81.9% -1.1%
2000 81.7% -0.2%
2001 76.1% -5.6%
2002 74.6% -1.5%
2003 75.8% 1.2%
2004 77.9% 2.1%
2005 80.1% 2.2%
2006 80.9% 0.8%
2007 80.6% -0.3%
2008 77.6% -3.0%
2009 70.1% -7.5%
Sep-09 70.5%
Sep-10 74.8% 4.3%
90.0%
80.0%
85.0%
70.0%
60.0%
80.0%
50.0%
75.0%
40.0%
30.0%
70.0%
20.0%
65.0%
10.0%
60.0%
0.0%
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Over the past 12 months industrial capacity utilization increased from 71.0 to 75.0 percent, or 4.0 percent.

Region Map
From this point forward we evaluate the national, state and regional economy. For purposes of this analysis,
we define the region as illustrated in the map found below:
Region Map.pdf

Civilian Employment
The following table and graph give civilian employment and job growth statistics for the nation, state and region
since the 1990s. The data set comes from the Bureau of Labor Statistics:
Civilian Employment
Civilian Employment Job Growth
Year Nation State Region Nation State Region
1990 119,769,423 3,098,145 54,376 - - -
1991 118,720,733 3,148,851 53,812 -0.9% 1.6% -1.0%
1992 119,521,190 3,180,803 54,063 0.7% 1.0% 0.5%
1993 121,307,099 3,207,393 54,555 1.5% 0.8% 0.9%
1994 124,243,448 3,250,202 54,915 2.4% 1.3% 0.7%
1995 127,134,391 3,317,434 56,087 2.3% 2.1% 2.1%
1996 129,254,917 3,252,499 55,354 1.7% -2.0% -1.3%
1997 132,120,921 3,323,266 55,979 2.2% 2.2% 1.1%
1998 134,287,067 3,384,653 57,159 1.6% 1.8% 2.1%
1999 136,289,214 3,441,589 57,360 1.5% 1.7% 0.4%
2000 138,117,863 3,502,524 61,256 1.3% 1.8% 6.8%
2001 138,241,765 3,537,719 61,378 0.1% 1.0% 0.2%
2002 137,936,672 3,588,079 62,128 -0.2% 1.4% 1.2%
2003 138,386,941 3,647,095 62,590 0.3% 1.6% 0.7%
2004 139,988,841 3,715,272 64,092 1.2% 1.9% 2.4%
2005 142,328,021 3,783,813 65,553 1.7% 1.8% 2.3%
2006 145,081,526 3,881,258 68,817 1.9% 2.6% 5.0%
2007 146,505,034 3,943,262 71,300 1.0% 1.6% 3.6%
2008 146,198,116 3,968,410 71,930 -0.2% 0.6% 0.9%
2009 140,870,681 3,896,161 70,788 -3.6% -1.8% -1.6%
Dec-09 138,927,357 3,834,021 69,314 - - -

Dec-10 140,248,944 3,890,714 70,904 1.0% 1.5% 2.3%
Job Growth
8.0%
6.0%
4.0%
2.0%
0.0%
-2.0%
-4.0%
-6.0%
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Nation State Region
Over the past 12 months civilian employment for the region has increased from 69,314 to 70,904 or 2.3
percent. This is compared with 1.5 and 1.0 percent job growth for the state and nation, respectively.

Unemployment
The following table and graph give unemployment and unemployment rate statistics for the nation, state and
region since the 1990s. The data set comes from the Bureau of Labor Statistics:
Unemployment
Unemployment Unemployment Rate
Year Nation State Region Nation State Region
1990 7,239,509 139,206 1,251 5.7% 4.3% 2.2%
1991 8,798,851 197,431 2,150 6.9% 5.9% 3.8%
1992 9,830,747 217,491 2,404 7.6% 6.4% 4.3%
1993 9,130,642 172,368 1,617 7.0% 5.1% 2.9%
1994 8,212,253 167,466 1,535 6.2% 4.9% 2.7%
1995 7,684,687 156,319 1,231 5.7% 4.5% 2.1%
1996 7,522,773 146,142 1,377 5.5% 4.3% 2.4%
1997 6,953,733 127,685 1,081 5.0% 3.7% 1.9%
1998 6,475,058 97,500 747 4.6% 2.8% 1.3%
1999 6,123,758 95,501 748 4.3% 2.7% 1.3%
2000 5,754,911 82,455 1,294 4.0% 2.3% 2.1%
2001 6,970,173 116,949 1,653 4.8% 3.2% 2.6%
2002 8,492,916 157,306 2,151 5.8% 4.2% 3.3%
2003 8,833,209 155,924 2,345 6.0% 4.1% 3.6%
2004 8,304,423 142,747 2,187 5.6% 3.7% 3.3%
2005 7,807,022 137,237 2,093 5.2% 3.5% 3.1%
2006 7,155,122 120,039 1,861 4.7% 3.0% 2.6%
2007 7,225,327 121,957 1,779 4.7% 3.0% 2.4%
2008 9,001,583 161,049 2,426 5.8% 3.9% 3.3%
2009 14,444,293 279,789 4,105 9.3% 6.7% 5.5%
Dec-09 14,923,537 275,326 3,851 9.7% 6.7% 5.3%

Dec-10 14,210,245 266,032 3,828 9.2% 6.4% 5.1%
Unemployment Rate
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Nation State Region
Over the past 12 months the unemployment rate for the region decreased from 5.3 to 5.1 percent. This is
compared with 6.4 and 9.2 percent for the state and nation, respectively.

Establishment Employment
The following table gives establishment-based employment data for the nation, state and region since 1990.
The data set, which comes from Woods & Poole Economics, includes a forecast through 2015:
Establishment Employment
Nation State Region
1990 Employment 138,331,022 3,699,605 80,916
2000 Employment 165,370,978 4,373,566 99,993
1990-2000 Change 27,039,956 673,961 19,077
Annual Change, % 1.8% 1.7% 2.1%
2000 Employment 165,370,978 4,373,566 99,993

2010 Employment 174,062,641 4,802,382 115,970
2000-2010 Change 8,691,663 428,816 15,977
Annual Change, % 0.5% 0.9% 1.5%
2010 Employment 174,062,641 4,802,382 115,970

2015 Employment 186,999,786 5,218,701 124,151
2010-2015 Change 12,937,145 416,319 8,181
Annual Change, % 1.4% 1.7% 1.4%
Source: Bureau of Labor Statistics; Woods & Poole Economics
Establishment-based employment for the region increased from 80,916 in 1990 to 115,970 in 2010.
Employment is forecasted to increase 1.4 percent annually through 2015. This is compared with projected
growth of 1.7 and 1.4 percent for the state and nation, respectively.
The table on the next page gives the distribution of establishment-based employment by industry for the nation,
state and region. Once again, the data set (which comes from Woods & Poole Economics), includes a forecast
through 2015.
Our analysis suggests that state & local government is the largest employment sector, accounting for 27,829
jobs, or 24.0 percent of regional employment. The regional state & local government sector is forecasted to
Our analysis also suggests that professional & technical services is the second largest employment sector,
accounting for 11,709 jobs, or 10.1 percent of regional employment. The regional professional & technical
services sector is forecasted to grow 2.6 percent annually.
Finally, our analysis suggests that health care & social assistance is the third largest employment sector,
accounting for 11,156 jobs, or 9.6 percent of regional employment. The regional health care & social
assistance sector is forecasted to grow 3.3 percent annually.
Please note: Economic forecasts rely heavily on historic data. One should take care in using these forecasts
because historic economic performance may not be a good indicator of current economic trends.
We do not anticipate significant job formation for the next 2 years. In our opinion, the recovery from the current
recession will be slow.

Employment by Industry
Nation
1990 1990-2000 2000 2000-2010 2010 2010-2015 2015 % of Total
Farm 3,153,000 -0.1% 3,117,000 -1.7% 2,616,090 0.3% 2,656,137 1.5%
Forestry, Fishing & Related Activities 765,712 1.1% 851,365 0.4% 889,762 1.3% 949,364 0.5%
Mining 878,658 -1.5% 757,104 4.7% 1,194,162 0.7% 1,237,205 0.7%
Utilities 755,166 -1.9% 621,755 -0.4% 600,268 0.6% 617,024 0.3%
Construction 7,333,446 2.7% 9,540,310 -1.1% 8,498,659 1.9% 9,326,858 4.9%
Manufacturing 18,123,211 -0.2% 17,750,623 -3.6% 12,249,767 0.2% 12,364,714 7.0%
Wholesale Trade 5,702,706 1.0% 6,270,809 -0.6% 5,921,378 1.0% 6,233,535 3.4%
Retail Trade 16,089,080 1.4% 18,455,353 -0.3% 17,951,637 1.2% 19,044,948 10.3%
Transportation & Warehousing 4,272,613 2.5% 5,466,230 0.1% 5,525,031 1.3% 5,883,394 3.2%
Information 3,069,952 2.8% 4,031,289 -1.9% 3,341,641 1.0% 3,516,437 1.9%
Finance & Insurance 6,803,887 1.4% 7,833,629 0.8% 8,469,012 1.4% 9,071,623 4.9%
Real Estate & Related Activities 4,384,916 2.2% 5,446,452 3.4% 7,596,789 1.9% 8,340,180 4.4%
Professional & Technical Services 7,298,716 3.2% 10,023,455 1.7% 11,886,971 2.0% 13,126,759 6.8%
Management & Related Activities 1,366,293 2.8% 1,801,752 0.6% 1,914,607 1.5% 2,061,500 1.1%
Administrative & Waste Services 5,803,324 5.5% 9,903,151 0.1% 9,982,786 2.2% 11,142,883 5.7%
Educational Services 2,031,989 3.4% 2,825,913 4.0% 4,201,688 2.2% 4,683,953 2.4%
Health Care & Social Assistance 11,184,910 3.0% 15,026,260 2.9% 20,054,024 2.1% 22,260,710 11.5%
Arts, Entertainment & Recreation 2,202,450 3.8% 3,199,082 1.7% 3,792,413 1.7% 4,116,969 2.2%
Accomodation & Food Services 8,323,122 2.4% 10,574,525 1.4% 12,147,083 1.3% 12,988,384 7.0%
Other Services, Except Public Administration 7,555,871 1.7% 8,937,921 1.3% 10,121,783 1.7% 11,021,508 5.8%
Federal Civilian Government 3,233,004 -1.1% 2,892,979 -0.2% 2,842,845 0.5% 2,921,148 1.6%
Federal Military 2,717,996 -2.7% 2,067,021 -0.1% 2,049,593 0.2% 2,065,876 1.2%
State & Local Government 15,281,000 1.6% 17,977,000 1.2% 20,214,652 1.1% 21,368,677 11.6%
Total 138,331,022 1.8% 165,370,978 0.5% 174,062,641 1.4% 186,999,786 100.0%
State
1990 1990-2000 2000 2000-2010 2010 2010-2015 2015 % of Total
Farm 63,110 -0.3% 61,192 -2.3% 48,563 0.3% 49,252 1.0%
Forestry, Fishing & Related Activities 12,401 0.7% 13,296 0.0% 13,353 1.3% 14,243 0.3%
Mining 17,247 -4.1% 11,318 2.0% 13,796 0.2% 13,933 0.3%
Utilities 14,889 -2.4% 11,688 1.2% 13,206 0.4% 13,449 0.3%
Construction 203,642 3.2% 279,840 -0.5% 266,953 2.3% 298,917 5.6%
Manufacturing 397,300 -0.9% 363,499 -3.6% 250,751 0.2% 253,053 5.2%
Wholesale Trade 122,305 0.1% 123,592 -0.2% 120,575 1.1% 127,163 2.5%
Retail Trade 421,286 1.4% 482,460 0.0% 481,844 1.3% 512,811 10.0%
Transportation & Warehousing 106,258 2.6% 137,265 -0.3% 133,550 1.2% 141,776 2.8%
Information 84,927 4.2% 127,782 -3.3% 91,306 0.6% 93,969 1.9%
Finance & Insurance 134,495 1.8% 160,052 1.1% 178,030 1.3% 189,571 3.7%
Real Estate & Related Activities 115,048 1.7% 135,942 4.2% 205,983 2.0% 226,909 4.3%
Professional & Technical Services 240,089 4.4% 369,012 3.6% 526,680 2.8% 606,114 11.0%
Management & Related Activities 58,143 2.3% 72,761 0.2% 74,592 1.1% 78,756 1.6%
Administrative & Waste Services 148,654 5.4% 251,196 0.8% 272,170 2.6% 309,181 5.7%
Educational Services 38,991 4.6% 61,135 4.8% 97,790 2.7% 111,568 2.0%
Health Care & Social Assistance 251,143 2.6% 323,995 3.3% 446,942 2.5% 505,365 9.3%
Arts, Entertainment & Recreation 57,779 2.9% 77,262 2.1% 95,274 1.8% 104,369 2.0%
Accomodation & Food Services 216,481 2.1% 266,011 1.8% 318,499 1.6% 344,270 6.6%
Other Services, Except Public Administration 203,544 1.5% 237,129 1.7% 279,897 2.1% 310,349 5.8%
Federal Civilian Government 188,425 -1.3% 165,746 0.8% 180,108 0.6% 185,679 3.8%
Federal Military 211,595 -2.3% 168,189 -0.6% 158,279 0.2% 159,542 3.3%
State & Local Government 391,853 1.9% 473,204 1.2% 534,241 1.2% 568,462 11.1%
Total 3,699,605 1.7% 4,373,566 0.9% 4,802,382 1.7% 5,218,701 100.0%
Region
1990 1990-2000 2000 2000-2010 2010 2010-2015 2015 % of Total
Farm 1,082 0.5% 1,142 -2.0% 930 0.4% 949 0.8%
Forestry, Fishing & Related Activities 357 -0.1% 354 2.9% 470 1.4% 505 0.4%
Mining 229 -2.4% 179 5.7% 312 -1.2% 294 0.3%
Utilities 318 -3.8% 215 0.9% 234 0.5% 240 0.2%
Construction 4,384 4.2% 6,614 -1.5% 5,701 1.6% 6,167 4.9%
Manufacturing 4,842 -1.8% 4,023 -1.9% 3,327 1.3% 3,554 2.9%
Wholesale Trade 1,394 -0.2% 1,373 -2.9% 1,027 0.8% 1,070 0.9%
Retail Trade 10,196 0.8% 11,004 0.1% 11,149 0.3% 11,320 9.6%
Transportation & Warehousing 1,668 0.8% 1,813 0.0% 1,816 0.0% 1,818 1.6%
Information 2,193 3.1% 2,967 -2.1% 2,409 0.5% 2,469 2.1%
Finance & Insurance 2,268 3.1% 3,085 0.2% 3,135 0.5% 3,221 2.7%
Real Estate & Related Activities 2,395 3.3% 3,317 3.8% 4,838 0.9% 5,068 4.2%
Professional & Technical Services 4,758 4.3% 7,232 4.9% 11,709 2.6% 13,288 10.1%
Management & Related Activities 1,032 3.1% 1,402 1.8% 1,676 1.3% 1,786 1.4%
Administrative & Waste Services 2,524 5.3% 4,249 0.5% 4,459 2.3% 4,994 3.8%
Educational Services 1,059 5.2% 1,757 5.2% 2,920 2.3% 3,270 2.5%
Health Care & Social Assistance 5,898 3.1% 7,984 3.4% 11,156 3.3% 13,096 9.6%
Arts, Entertainment & Recreation 2,057 2.5% 2,642 3.0% 3,549 1.5% 3,815 3.1%
Accomodation & Food Services 5,876 2.0% 7,166 2.1% 8,819 1.3% 9,387 7.6%
Other Services, Except Public Administration 4,605 1.8% 5,492 1.6% 6,457 1.8% 7,054 5.6%
Federal Civilian Government 1,259 2.0% 1,528 -1.4% 1,321 -0.1% 1,313 1.1%
Federal Military 760 -1.0% 688 0.6% 727 0.2% 733 0.6%
State & Local Government 19,762 1.9% 23,767 1.6% 27,829 0.6% 28,740 24.0%
Total 80,916 2.1% 99,993 1.5% 115,970 1.4% 124,151 100.0%

Annual Per Capita Earnings
The following table gives average annual per capita earnings data for the nation, state and region since 1990.
The data set, which comes from Woods & Poole Economics, includes a forecast through 2015:
Annual Per Capita Earnings

Nation State Region
1990 Earnings $26,565 $26,004 $23,842
2000 Earnings $39,915 $40,130 $36,723
1990-2000 Change $13,349 $14,125 $12,880
Annual Change, % 4.2% 4.4% 4.4%
2000 Earnings $39,915 $40,130 $36,723

2010 Earnings $50,208 $55,133 $47,679
2000-2010 Change $10,293 $15,004 $10,957
Annual Change, % 2.3% 3.2% 2.6%
2010 Earnings $50,208 $55,133 $47,679

2015 Earnings $61,056 $67,393 $57,191
2010-2015 Change $10,848 $12,260 $9,511
Annual Change, % 4.0% 4.1% 3.7%
Average annual per capita earnings for the region increased from $23,842 in 1990 to $47,679 in 2010.
Earnings are forecasted to increase 3.7 percent annually through 2015. This is compared with projected
growth of 4.1 and 4.0 percent for the state and nation, respectively.
The table on the next page gives the distribution of average annual per capita earnings by industry for the
nation, state and region. Once again, the data set (which comes from Woods & Poole Economics), includes a
forecast through 2015.
Our analysis suggests that mining is the highest paying employment sector, with average annual per capita
earnings of $236,916 for the region. Average annual per capita earnings for the regional mining sector is
forecasted to grow 8.5 percent annually.
Our also analysis suggests that federal civilian government is the second highest paying employment sector,
with average annual per capita earnings of $130,112 for the region. Average annual per capita earnings for the
regional federal civilian government sector is forecasted to grow 2.5 percent annually.
Finally, our analysis suggests that utilities is the third highest paying employment sector, with average annual
per capita earnings of $120,401 for the region. Average annual per capita earnings for the regional utilities
sector is forecasted to grow 4.5 percent annually.
Please note: Woods & Poole Economics forecasts rely heavily on historic economic data. One should take
care in using these forecasts because historic economic performance may not be a good indicator of current
economic trends.

Average Earnings by Industry
Nation
1990 1990-2000 2000 2000-2010 2010 2010-2015 2015
Farm $15,104 1.1% $16,833 6.0% $30,058 3.1% $35,071
Forestry, Fishing & Related Activities $17,286 3.0% $23,121 2.7% $30,067 1.6% $35,166
Mining $39,940 6.0% $71,585 3.5% $101,220 2.4% $128,574
Utilities $48,172 5.4% $81,311 4.2% $122,437 2.4% $154,738
Construction $29,943 4.1% $44,779 0.8% $48,268 2.3% $60,727
Manufacturing $33,856 4.5% $52,481 2.9% $69,620 2.3% $87,634
Wholesale Trade $36,683 4.4% $56,573 2.6% $73,153 2.2% $91,249
Retail Trade $17,526 3.5% $24,771 2.0% $30,115 1.9% $36,361
Transportation & Warehousing $30,439 3.4% $42,721 1.7% $50,553 1.8% $60,581
Information $35,673 6.2% $65,398 2.8% $86,483 2.0% $105,478
Finance & Insurance $29,963 7.1% $59,228 2.5% $76,028 2.2% $94,105
Real Estate & Related Activities $13,429 7.7% $28,225 -4.0% $18,687 2.1% $23,093
Professional & Technical Services $37,615 4.6% $58,968 1.9% $71,270 1.8% $85,425
Management & Related Activities $43,635 6.1% $79,055 3.3% $108,938 2.2% $135,739
Administrative & Waste Services $16,827 3.8% $24,424 2.7% $31,971 2.0% $39,120
Educational Services $18,802 3.8% $27,242 2.6% $35,084 1.9% $42,214
Health Care & Social Assistance $27,359 3.1% $37,027 3.0% $49,704 1.9% $59,847
Arts, Entertainment & Recreation $15,035 3.9% $22,096 1.9% $26,638 1.7% $31,542
Accomodation & Food Services $12,089 4.2% $18,314 2.0% $22,405 1.8% $26,760
Other Services, Except Public Administration $19,107 4.3% $28,997 1.3% $33,023 1.8% $39,394
Federal Civilian Government $44,163 4.5% $68,817 5.0% $112,189 2.2% $139,725
Federal Military $26,629 3.8% $38,557 8.5% $86,914 2.2% $108,416
State & Local Government $29,223 3.3% $40,452 3.2% $55,652 3.9% $67,419
Total $26,565 4.2% $39,915 2.3% $50,208 4.0% $61,056
State
1990 1990-2000 2000 2000-2010 2010 2010-2015 2015
Farm $10,904 -1.7% $9,211 -3.9% $6,168 13.7% $11,716
Mining $40,790 3.6% $58,026 3.6% $82,716 5.0% $105,683
Utilities $45,337 5.6% $78,373 5.7% $136,225 4.9% $173,232
Construction $25,767 4.9% $41,423 1.2% $46,658 4.9% $59,324
Manufacturing $30,063 3.9% $44,183 3.7% $63,457 4.7% $79,968
Wholesale Trade $36,284 5.0% $58,976 2.3% $73,758 4.5% $91,702
Retail Trade $15,937 3.7% $23,021 2.3% $28,797 3.9% $34,882
Information $34,488 9.0% $81,984 0.7% $88,165 4.0% $107,420
Finance & Insurance $25,937 6.4% $48,135 4.4% $74,139 4.8% $93,545
Total $26,004 4.4% $40,130 3.2% $55,133 4.1% $67,393
Region
1990 1990-2000 2000 2000-2010 2010 2010-2015 2015
Farm $6,947 -5.0% $4,167 #NUM! -$12,058 -185.4% $5,482
Mining $179,782 11.0% $509,086 -7.4% $236,916 8.5% $356,145
Utilities $44,557 4.2% $66,936 6.0% $120,401 4.5% $150,180
Construction $24,729 5.0% $40,391 0.2% $41,298 3.9% $50,101
Manufacturing $30,765 6.6% $58,221 2.5% $74,372 4.8% $94,093
Wholesale Trade $34,185 4.5% $53,261 0.5% $55,778 4.4% $69,250
Retail Trade $14,692 5.8% $25,839 1.4% $29,561 4.0% $35,892
Information $24,557 6.3% $45,448 3.7% $65,628 4.1% $80,415
Finance & Insurance $26,127 5.4% $44,339 9.0% $105,212 -1.3% $98,388
Total $23,842 4.4% $36,723 2.6% $47,679 3.7% $57,191

Top Employers
The table on the next page gives a listing of the region's top 50 employers. The data, which was obtained from
InfoUSA, includes all industries. Because most economists agree that manufacturing employment is the
backbone of our economy, regional manufacturing employers are highlighted for ease of reference.
The top 5 employers include: (1) University Of Virginia (20,000 employees); (2) U VA Neurological Surgery
(5,001 employees); (3) University-VA Health Systems (5,001 employees); (4) U VA Urology (4,000 employees);
and (5) Summit Realty Co (1,700 employees).
It is important to note that the top employer listing is not an exhaustive list. Other employers exist in this
marketplace which are not included because data was not available for this survey. In our opinion, however,
the list gives a reasonable snapshot of the employer composition for this area.
The following table gives manufacturing employment data for the nation, state and region since 1990. The data
set, which comes from Woods & Poole Economics, includes a forecast through 2015:
Manufacturing Employment
Nation State Region
1990 Employment 18,123,211 397,300 4,842
2000 Employment 17,750,623 363,499 4,023
1990-2000 Change -372,588 -33,801 -819
Annual Change, % -0.2% -0.9% -1.8%
2000 Employment 17,750,623 363,499 4,023

2010 Employment 12,249,767 250,751 3,327
2000-2010 Change -5,500,856 -112,748 -696
Annual Change, % -3.6% -3.6% -1.9%
2010 Employment 12,249,767 250,751 3,327

2015 Employment 12,364,714 253,053 3,554
2010-2015 Change 114,947 2,302 227
Annual Change, % 0.2% 0.2% 1.3%
Manufacturing employment for the region decreased from 4,842 in 1990 to 3,327 in 2008. Employment is
forecasted to increase 1.3 percent annually through 2015. This is compared with projected growth of 0.2 and
0.2 percent for the state and nation, respectively.
Please note: Woods & Poole Economics forecasts rely heavily on historic economic data. One should take
care in using these forecasts because historic economic performance may not be a good indicator of current
economic trends.
In the discussion below, we summarize employment news for some of the larger employers in the area:
University Of Virginia
Our employment data source list 20000 people employed by University Of Virginia (434-924-4598) in
Charlottesville, Virginia, Albemarle & Charlottesville City Counties making them the largest employer. We
spoke with Greg Fresheour in the HR Dept; he confirmed the number of employees at 20000; with 11000 in
the academic division and 9000 in the healthcare division. He also stated that they have had layoffs in different
departments, but are moving employees around to different divisions. He also stated that hirings will be for
replacements only over the next few months.
Summit Reality
Our employment data source list 1700 people employed by Summit Reality (434-817-4040) in Charlottesville,
Virginia, Albemarle & Charlottesville City Counties making them the second largest employer. After multiple

attempts, we were not able to get a person on the line to confirm our information.
GE Fanuc Automation Inc

Our employment data source list 1500 people employed by GE Fanuc Automation Inc (434-978-5000) in
Charlottesville, Virginia, Albemarle & Charlottesville City Counties making them the third largest employer.
After multiple attempts, we were not able to get a person on the line to confirm our information. We left
messages for Debbie Thomson in the HR Dept. but received no call back.
Northrop Grumman Sperry Marine

Our employment data source list 1300 people employed by Northrop Grumman Sperry Marine (434-974-2000)
in Charlottesville, Virginia, Albemarle & Charlottesville City Counties making them tied for the forth largest
employer. After multiple attempts, we were not able to get a person on the line to confirm our information. We
left messages for the HR Dept. but received no call back.
State Farm Operations Center

Our employment data source list 1300 people employed by State Farm Operations Center (434-872-5000) in
Charlottesville, Virginia, Albemarle & Charlottesville City Counties making them tied for the forth largest
employer. We spoke with Amy in the HR Dept; she would not confirm the number of employees due to
company policy. She also stated that they are not expecting any layoffs or additional hirings over the next 6
months.
City of Charlottesville
Our employment data source list 900 people employed by City of Charlottesville (434-970-3333) in
Charlottesville, Virginia, Albemarle & Charlottesville City Counties making them the sixth largest employer.
After multiple attempts, we were not able to get a person on the line to confirm our information.
Stellar One Group

Our employment data source list 846 people employed by Stellar One Group (434-964-2211) in Charlottesville,
Virginia, Albemarle & Charlottesville City Counties making them the seventh largest employer. After multiple
attempts, we were not able to get a person on the line to confirm our information.
Charlottesville Public Utilities

Our employment data source list 600 people employed by Charlottesville Public Utilities (434-970-3490) in
Charlottesville, Virginia, Albemarle & Charlottesville City Counties making them tied for the eighth largest
employer. We spoke with Janis in the HR Dept; she would not confirm the number of employees. She also
stated that she would have a supervisor return our call; we never received a call back.
Lexis Nexis
Our employment data source list 600 people employed by Lexis Nexis (434-972-7600) in Charlottesville,
Virginia, Albemarle & Charlottesville City Counties making them tied for the eighth largest employer. After
multiple attempts, we were not able to get a person on the line to confirm our information. We left messages
for Ashley Sloskey in the HR Dept. but received no call back.
Aramark Services Inc

Our employment data source list 550 people employed by Aramark Services Inc (434-924-3043) in
Charlottesville, Virginia, Albemarle & Charlottesville City Counties making them the tenth largest employer. We
spoke with the company operator who told us that it was company policy to not give out employment
information and would not transfer us to the HR Dept.

The following map shows the location of the top employers in this region:
Top Employers.pdf

Top Employers
Name Address City State Zip Phone Employees SIC Code Industry Description Type of Operation
University Of Virginia Madison Hall Charlottesville VA 22901 0000 (434) 924-0311 20,000 822101 Schools-Universities & Colleges Academic Single Loc
U VA Neurological Surgery 1215 Lee St # Cdw Charlottesville VA 22908-0816 (434) 924-2203 5,001 801101 Physicians & Surgeons Single Loc
University-VA Health Systems 1300 Jefferson Park Ave Charlottesville VA 22903-3363 (434) 924-0211 5,001 822101 Schools-Universities & Colleges Academic Single Loc
U VA Urology 1300 Jefferson Park Ave Charlottesville VA 22903-3363 (434) 924-9561 4,000 801101 Physicians & Surgeons Single Loc
Summit Realty Co 820 E High St Charlottesville VA 22902-5148 (434) 817-4040 1,700 653118 Real Estate Single Loc
GE Fanuc Automation Inc 2500 Austin Dr Charlottesville VA 22911-8319 (434) 978-5000 1,500 367901 Electronic Equipment & Supplies-Mfrs Headquarter
Northrop Grumman Sperry Marine 1070 Seminole Trl Charlottesville VA 22901-2827 (434) 974-2000 1,300 508812 Marine Electronic Equip & Supls (Whls) Subsidiary
State Farm Operations Ctr 1500 State Farm Blvd Charlottesville VA 22909-0001 (434) 872-5000 1,300 874130 Management Services Branch
University Of VA School-Mdcn Jefferson Park Ave # 3-3022 Charlottesville VA 22908-0001 (434) 924-5118 1,000 822108 Schools-Medical Single Loc
Charlottesville City Govt Info 605 E Main St Charlottesville VA 22902-5337 (434) 970-3333 900 912104 Government Offices-City, Village & Twp Single Loc
Stellar One Corp 590 Peter Jefferson Pkwy # 250 Charlottesville VA 22911-4655 (434) 964-2211 846 671201 Holding Companies (Bank) Headquarter
Charlottesville Public Utlts 305 4th St NW Charlottesville VA 22903-4506 (434) 970-3302 600 492501 Gas Companies Single Loc
Lexis Nexis 701 E Water St Charlottesville VA 22902-5389 (434) 972-7600 600 594203 Law Books Branch
Aramark Services Inc 1301 Emmet St N Charlottesville VA 22903-4872 (434) 924-3043 550 874130 Management Services Single Loc
Crutchfield Corp 1 Crutchfield Park Charlottesville VA 22911-9097 (434) 817-1000 550 573105 Stereophonic & High Fidelity Equip-Dlrs Headquarter
Darden Executive Education 100 Darden Blvd Charlottesville VA 22903-1760 (434) 924-3000 500 822101 Schools-Universities & Colleges Academic Single Loc
Region Ten Community Svc Board 800 Preston Ave Charlottesville VA 22903-4420 (434) 972-1800 500 806301 Mental Health Services Single Loc
University Of VA Library PO Box 400114 Charlottesville VA 22904-4114 (434) 924-0746 500 823106 Libraries-Public Single Loc
Boar's Head Inn 200 Ednam Dr Charlottesville VA 22903-4606 (434) 296-2181 400 701101 Hotels & Motels Single Loc
C W Hurt Contractors Inc 195 Riverbend Dr Charlottesville VA 22911-8607 (434) 977-3454 400 152103 General Contractors Single Loc
US Post Office 2148 Barracks Rd Charlottesville VA 22903-4810 (434) 978-7647 400 431101 Post Offices Branch
Thomas Jefferson Foundation 931 Thomas Jefferson Pkwy Charlottesville VA 22902-7148 (434) 984-9808 350 594712 Gift Shops Single Loc
West Virginia Heat Pump Assn 250 Pantops Mountain Rd Charlottesville VA 22911-8686 (434) 980-6713 350 171102 Heating Contractors Single Loc
Piedmont Virginia Cmnty Clg 501 College Dr Charlottesville VA 22902-7589 (434) 977-3900 347 822101 Schools-Universities & Colleges Academic Subsidiary
Health Services Foundation 500 Ray C Hunt Dr Charlottesville VA 22903-2981 (434) 295-1000 325 872103 Billing Service Single Loc
Albemarle County Office Buildi 1600 5th Street Ext Charlottesville VA 22902-6495 (434) 296-5841 300 919903 County Government-General Offices Single Loc
Darden Graduate School Of Bus 100 Darden Blvd Charlottesville VA 22903-1760 (434) 924-7283 300 822101 Schools-Universities & Colleges Academic Single Loc
Lowe's 400 Woodbrook Dr Charlottesville VA 22901-1154 (434) 975-7140 300 521138 Home Centers Branch
Walmart 975 Hilton Heights Rd Charlottesville VA 22901-8394 (434) 973-1412 280 531102 Department Stores Branch
ACAC Fitness & Wellness Ctr 500 Albemarle Sq Charlottesville VA 22901-7405 (434) 978-3800 275 799101 Health Clubs Studios & Gymnasiums Single Loc
Kluge Children's Rehab Ctr 2270 Ivy Rd Charlottesville VA 22903-4972 (434) 924-5161 260 833102 Rehabilitation Services Single Loc
Giant Food 1900 Abbey Rd Charlottesville VA 22911-3543 (434) 244-4300 250 541105 Grocers-Retail Branch
University-Virginia Chemiistry Mccormick Rd Charlottesville VA 22904 0000 (434) 924-3344 250 822101 Schools-Universities & Colleges Academic Single Loc
Boar's Head Sports Club 200 Wellington Dr Charlottesville VA 22903-4621 (434) 972-2237 240 864108 Clubs Single Loc
Albemarle Cnty Transportation 110 Lambs Ln Charlottesville VA 22901-8979 (434) 973-5716 230 962103 County Govt-Transportation Programs Single Loc
Albemarle High School 2775 Hydraulic Rd Charlottesville VA 22901-8916 (434) 975-9300 225 821103 Schools Single Loc
World Strides 590 Peter Jefferson Pkwy # 300 Charlottesville VA 22911-4628 (434) 982-8600 220 472501 Tours-Operators & Promoters Subsidiary
CFA Institute 560 Ray C Hunt Dr Charlottesville VA 22903-2981 (434) 951-5499 201 861102 Associations Single Loc
Albemarle County Bldg Svc Dept 2751 Hydraulic Rd Charlottesville VA 22901-8917 (434) 975-9340 200 912103 Government Offices-County Single Loc
Charlottesvile Public Svc 305 4th St NW Charlottesville VA 22903-4506 (434) 970-3830 200 912104 Government Offices-City, Village & Twp Single Loc
Colonnades 2600 Barracks Rd Charlottesville VA 22901-2121 (434) 963-4198 200 805904 Retirement Communities & Homes Branch
Digestive Health Ctr-Excllnc 1215 Lee St Charlottesville VA 22908-0816 (434) 924-2959 200 801101 Physicians & Surgeons Single Loc
Financial Analysts Journal 560 Ray C Hunt Dr Charlottesville VA 22903-2981 (434) 951-5442 200 628205 Financial Planning Consultants Single Loc
Jim Price Chevrolet Hyundai 2150 Seminole Trl Charlottesville VA 22901-8302 (434) 817-1881 200 551102 Automobile Dealers-New Cars Single Loc
Monticello 931 Thomas Jefferson Pkwy Charlottesville VA 22902-7148 (434) 984-9822 200 841201 Museums Single Loc
Pediatrics-U VA 1221 Lee St Charlottesville VA 22908-0001 (434) 924-5321 200 801101 Physicians & Surgeons Single Loc
Sears 1531 Rio Road East Charlottesville VA 22901-1496 (434) 974-1322 200 531102 Department Stores Branch
U VA Anesthesiology 1 Hospital Dr # 4748 Charlottesville VA 22908-0001 (434) 924-2283 200 801101 Physicians & Surgeons Single Loc
U VA Pathology 415 Lane Rd # Mr5-3 Charlottesville VA 22908-0001 (434) 924-1946 200 801101 Physicians & Surgeons Single Loc
U VA Urology 2 Hospital Dr Charlottesville VA 22908-0001 (434) 924-9560 200 801101 Physicians & Surgeons Single Loc
Source: InfoUSA

Housing Unit Completions
Housing unit completions is an excellent measure of housing activity. The statistic tracks changes to the
housing stock and accounts for units completed as well as units demolished. The following table gives housing
unit completion data for the nation, state and region since 2000. The data set, which comes from the U.S.
Census Bureau and Claritas, includes a forecast through 2015:
Housing Unit Completions

Nation State Region
2000 Housing Units 115,904,641 2,904,192 51,311
Completions, 1, detached 10,162,830 74.3% 278,662 67.2% 6,410 75.7%

Completions, 1, attached 920,573 6.7% 58,007 14.0% 151 1.8%
Completions, 2 111,035 0.8% -2,072 -0.5% -455 -5.4%
Completions, 3 to 19 2,394,467 17.5% 43,456 10.5% 1,317 15.6%
Completions, 20 to 49 534,121 3.9% 12,685 3.1% 1,403 16.6%
Completions, 50 or more -223,298 -1.6% 18,617 4.5% 379 4.5%
Completions, Mobile home -71,008 -0.5% 7,855 1.9% -714 -8.4%
Completions, Other -159,419 -1.2% -2,749 -0.7% -26 -0.3%
2000-2010 Completions 13,669,301 100.0% 414,461 100.0% 8,465 100.0%
2010 Housing Units 129,573,942 3,318,653 59,776
Completions, 1, detached 3,339,358 62.5% 95,540 62.9% 1,795 61.2%

Completions, 1, attached 268,193 5.0% 15,496 10.2% 156 5.3%
Completions, 2 140,916 2.6% 2,593 1.7% 95 3.2%
Completions, 3 to 19 745,229 13.9% 19,990 13.2% 548 18.7%
Completions, 20 to 49 183,590 3.4% 2,808 1.8% 129 4.4%
Completions, 50 or more 215,694 4.0% 6,510 4.3% 117 4.0%
Completions, Mobile home 444,965 8.3% 8,845 5.8% 92 3.1%
Completions, Other 6,353 0.1% 13 0.0% 0 0.0%
2010-2015 Completions 5,344,298 100.0% 151,795 100.0% 2,932 100.0%
2015 Housing Units 134,918,240 3,470,448 62,708

Source: U.S. Census Bureau; Claritas
In 2000 there were 51,311 housing units in the region. Between 2000 and 2010 a total of 8,465 new units (net
of any demolitions) were completed. This resulted in a total of 59,776 housing units in 2010. Between 2010 and
2015 a total of 2,932 new units (net of any demolitions) are anticipated. This results in an estimated total of
62,708 housing units in 2015.

DEMOGRAPHIC CHARACTERISTICS
In this section we conduct an analysis of regional and market area demographic and select housing
characteristics. Our analysis uses the regional and market area definitions presented previously in this report.
Population
The following tables give population data for the nation, state, region and market area since 2000. The data
sets, which come from the U.S. Census Bureau and Claritas, include forecasts through 2015:
Population
Nation State Region Market
2000 Population 281,421,906 7,078,515 124,285 61,194
2010 Population 309,038,974 7,884,742 136,255 60,173
2000-2010 Change 27,617,068 806,227 11,970 -1,021
Annual Change, % 0.9% 1.1% 0.9% -0.2%
2010 Population 309,038,974 7,884,742 136,255 60,173

2015 Population 321,675,005 8,221,902 141,129 60,767
2010-2015 Change 12,636,031 337,160 4,874 593
Annual Change, % 0.8% 0.8% 0.7% 0.2%
Population for the market area decreased from 61,194 in 2000 to 60,173 in 2010. Population is forecasted to
increase 0.2 percent annually through 2015. This is compared with projected growth of 0.7, 0.8 and 0.8 percent
for the region, state and nation, respectively.
<55 Population
2000 Population 222,155,469 5,654,571 99,857 50,549
2010 Population 232,900,422 5,964,800 101,984 45,596
2000-2010 Change 10,744,953 310,229 2,127 -4,953
Annual Change, % 0.5% 0.5% 0.2% -1.0%
2010 Population 232,900,422 5,964,800 101,984 45,596

2015 Population 234,325,555 5,979,196 102,535 45,405
2010-2015 Change 1,425,133 14,396 551 -192
Annual Change, % 0.1% 0.0% 0.1% -0.1%
The <55 population for the market area decreased from 50,549 in 2000 to 45,596 in 2010. The <55 population
is forecasted to decrease 0.1 percent annually through 2015. This is compared with projected growth of 0.1,
0.0 and 0.1 percent for the region, state and nation, respectively.
Section 9 - Demographic Characteristics Allen and Associates Consulting

55+ Population
2000 Population 59,266,437 1,423,944 24,428 10,646
2010 Population 76,138,552 1,919,942 34,271 14,577
2000-2010 Change 16,872,115 495,998 9,843 3,931
Annual Change, % 2.5% 3.0% 3.4% 3.2%
2010 Population 76,138,552 1,919,942 34,271 14,577

2015 Population 87,349,450 2,242,706 38,594 15,362
2010-2015 Change 11,210,898 322,764 4,323 785
Annual Change, % 2.8% 3.2% 2.4% 1.1%
The 55+ population for the market area increased from 10,646 in 2000 to 14,577 in 2010. The 55+ population
is forecasted to increase 1.1 percent annually through 2015. This is compared with projected growth of 2.4, 3.2
and 2.8 percent for the region, state and nation, respectively.
62+ Population
2000 Population 42,274,158 981,816 17,456 8,004
2010 Population 51,316,844 1,271,601 24,112 10,961
2000-2010 Change 9,042,686 289,785 6,656 2,957
Annual Change, % 2.0% 2.6% 3.3% 3.2%
2010 Population 51,316,844 1,271,601 24,112 10,961

2015 Population 59,093,550 1,499,545 26,952 11,328
2010-2015 Change 7,776,706 227,944 2,840 366
Annual Change, % 2.9% 3.4% 2.3% 0.7%
Source: U.S. Census Bureau, Claritas; Allen & Associates
The 62+ population for the market area increased from 8,004 in 2000 to 10,961 in 2010. The 62+ population is
forecasted to increase 0.7 percent annually through 2015. This is compared with projected growth of 2.3, 3.4
65+ Population
2000 Population 34,991,753 792,333 14,468 6,873
2010 Population 40,678,969 993,741 19,758 9,412
2000-2010 Change 5,687,216 201,408 5,290 2,540
Annual Change, % 1.5% 2.3% 3.2% 3.2%
2010 Population 40,678,969 993,741 19,758 9,412

2015 Population 46,983,879 1,181,048 21,963 9,599
2010-2015 Change 6,304,910 187,307 2,205 187
Annual Change, % 2.9% 3.5% 2.1% 0.4%
The 65+ population for the market area increased from 6,873 in 2000 to 9,412 in 2010. The 65+ population is

Population per Household
The following tables give population per household data for the nation, state, region and market area since
2000. The data sets, which come from the U.S. Census Bureau and Claritas, include forecasts through 2015:
Population per Household

2000 Population per Household 2.67 2.62 2.55 2.53
2000-2010 Change -0.01 -0.03 -0.09 -0.21

2010-2015 Change 0.00 -0.01 -0.03 -0.03
Population per household for the market area decreased from 2.53 in 2000 to 2.31 in 2010. Population per
household is forecasted to decrease from 2.31 in 2010 to 2.29 in 2015.
<55 Population per Household

2000-2010 Change 0.09 0.08 -0.02 -0.22

2010-2015 Change 0.09 0.08 0.00 -0.01
The <55 population per household for the market area decreased from 2.85 in 2000 to 2.64 in 2010. The <55
population per household is forecasted to decrease from 2.64 in 2010 to 2.63 in 2015.
55+ Population per Household

2000-2010 Change 0.04 0.02 0.03 0.04

2010-2015 Change 0.01 0.01 0.01 -0.02
The 55+ population per household for the market area increased from 1.63 in 2000 to 1.67 in 2010. The 55+

2000-2010 Change 0.04 0.03 0.04 0.04

2010-2015 Change 0.02 0.03 0.01 -0.01

2000-2010 Change 0.05 0.03 0.05 0.05

2010-2015 Change 0.03 0.03 0.02 -0.01

Households
The following tables give household data for the nation, state, region and market area since 2000. The data
Households
2000 Households 105,539,122 2,700,335 48,777 24,224
2010 Households 116,136,617 3,043,091 55,424 26,006
2000-2010 Change 10,597,495 342,756 6,647 1,782
Annual Change, % 1.0% 1.2% 1.3% 0.7%
2010 Households 116,136,617 3,043,091 55,424 26,006

2015 Households 120,947,177 3,184,201 58,125 26,569
2010-2015 Change 4,810,560 141,110 2,701 563
Annual Change, % 0.8% 0.9% 1.0% 0.4%
Households for the market area increased from 24,224 in 2000 to 26,006 in 2010. Households are forecasted
to increase 0.4 percent annually through 2015. This is compared with projected growth of 1.0, 0.9 and 0.8
percent for the region, state and nation, respectively.
<55 Households
2000 Households 69,061,603 1,823,639 33,820 17,707
2010 Households 70,450,021 1,874,847 34,766 17,298
2000-2010 Change 1,388,418 51,208 946 -409
Annual Change, % 0.2% 0.3% 0.3% -0.2%
2010 Households 70,450,021 1,874,847 34,766 17,298

2015 Households 68,982,220 1,831,815 34,938 17,284
2010-2015 Change -1,467,801 -43,032 172 -15
Annual Change, % -0.4% -0.5% 0.1% 0.0%
The <55 households for the market area decreased from 17,707 in 2000 to 17,298 in 2010. The <55
households are forecasted to decrease 0.0 percent annually through 2015. This is compared with projected
growth of 0.1, -0.5 and -0.4 percent for the region, state and nation, respectively.
55+ Households
2000 Households 36,477,519 876,696 14,957 6,517
2010 Households 45,686,596 1,168,244 20,658 8,708
2000-2010 Change 9,209,077 291,548 5,701 2,191
Annual Change, % 2.3% 2.9% 3.3% 2.9%
2010 Households 45,686,596 1,168,244 20,658 8,708

2015 Households 51,964,957 1,352,386 23,187 9,285
2010-2015 Change 6,278,361 184,142 2,529 577
Annual Change, % 2.6% 3.0% 2.3% 1.3%
The 55+ households for the market area increased from 6,517 in 2000 to 8,708 in 2010. The 55+ households
are forecasted to increase 1.3 percent annually through 2015. This is compared with projected growth of 2.3,

62+ Households
2000 Households 26,422,327 613,465 10,671 4,840
2010 Households 31,196,855 780,781 14,414 6,459
2000-2010 Change 4,774,528 167,316 3,743 1,619
Annual Change, % 1.7% 2.4% 3.1% 2.9%
2010 Households 31,196,855 780,781 14,414 6,459

2015 Households 35,455,889 906,725 15,986 6,725
2010-2015 Change 4,259,034 125,944 1,572 266
Annual Change, % 2.6% 3.0% 2.1% 0.8%
65+ Households
2000 Households 22,112,959 500,652 8,834 4,122
2010 Households 24,986,966 614,726 11,738 5,495
2000-2010 Change 2,874,007 114,074 2,904 1,373
Annual Change, % 1.2% 2.1% 2.9% 2.9%
2010 Households 24,986,966 614,726 11,738 5,495

2015 Households 28,380,574 715,728 12,900 5,628
2010-2015 Change 3,393,608 101,002 1,162 132
Annual Change, % 2.6% 3.1% 1.9% 0.5%

Owner Tenure
The following tables give owner tenure data for the nation, state, region and market area since 2000. The data
Owner Tenure
2000 Tenure 66.2% 68.1% 57.4% 41.2%
2010 Tenure 66.8% 70.0% 60.4% 44.9%
2000-2010 Change 0.66% 1.86% 2.99% 3.69%
2010 Tenure 66.8% 70.0% 60.4% 44.9%

2015 Tenure 66.8% 70.3% 60.6% 44.8%
2010-2015 Change 0.00% 0.31% 0.24% -0.09%
Owner tenure for the market area increased from 41.2 percent in 2000 to 44.9 percent in 2010. Owner tenure
is forecasted to decrease from 44.9 percent in 2010 to 44.8 percent in 2015.
<55 Owner Tenure

2000 Tenure 59.7% 61.7% 47.7% 29.8%
2010 Tenure 59.6% 63.0% 49.2% 31.4%
2000-2010 Change -0.04% 1.27% 1.52% 1.58%
2010 Tenure 59.6% 63.0% 49.2% 31.4%

2015 Tenure 58.8% 62.4% 48.8% 31.2%
2010-2015 Change -0.86% -0.53% -0.43% -0.20%
The <55 owner tenure for the market area increased from 29.8 percent in 2000 to 31.4 percent in 2010. The
<55 owner tenure is forecasted to decrease from 31.4 percent in 2010 to 31.2 percent in 2015.
55+ Owner Tenure

2000 Tenure 78.5% 81.5% 79.3% 72.1%
2010 Tenure 78.0% 81.3% 79.2% 71.7%
2000-2010 Change -0.53% -0.25% -0.15% -0.41%
2010 Tenure 78.0% 81.3% 79.2% 71.7%

2015 Tenure 77.5% 81.0% 78.4% 70.1%
2010-2015 Change -0.41% -0.30% -0.72% -1.58%
The 55+ owner tenure for the market area decreased from 72.1 percent in 2000 to 71.7 percent in 2010. The
55+ owner tenure is forecasted to decrease from 71.7 percent in 2010 to 70.1 percent in 2015.

62+ Owner Tenure
2000 Tenure 78.2% 81.0% 79.0% 72.3%
2010 Tenure 77.3% 80.5% 77.9% 71.4%
2000-2010 Change -0.90% -0.56% -1.02% -0.91%
2010 Tenure 77.3% 80.5% 77.9% 71.4%

2015 Tenure 76.9% 80.2% 77.4% 70.0%
2010-2015 Change -0.39% -0.26% -0.55% -1.40%
65+ Owner Tenure

2000 Tenure 78.0% 80.6% 78.7% 72.5%
2010 Tenure 76.8% 79.8% 77.0% 71.3%
2000-2010 Change -1.21% -0.84% -1.69% -1.26%
2010 Tenure 76.8% 79.8% 77.0% 71.3%

2015 Tenure 76.4% 79.6% 76.6% 70.0%
2010-2015 Change -0.38% -0.23% -0.43% -1.29%

Renter Tenure
The following tables give renter tenure data for the nation, state, region and market area since 2000. The data
Renter Tenure
2000 Tenure 33.8% 31.9% 42.6% 58.8%
2010 Tenure 33.2% 30.0% 39.6% 55.1%
2000-2010 Change -0.66% -1.86% -2.99% -3.69%
2010 Tenure 33.2% 30.0% 39.6% 55.1%

2015 Tenure 33.2% 29.7% 39.4% 55.2%
2010-2015 Change 0.00% -0.31% -0.24% 0.09%
Renter tenure for the market area decreased from 58.8 percent in 2000 to 55.1 percent in 2010. Renter tenure
is forecasted to increase from 55.1 percent in 2010 to 55.2 percent in 2015.
<55 Renter Tenure

2000 Tenure 40.3% 38.3% 52.3% 70.2%
2010 Tenure 40.4% 37.0% 50.8% 68.6%
2000-2010 Change 0.04% -1.27% -1.52% -1.58%
2010 Tenure 40.4% 37.0% 50.8% 68.6%

2015 Tenure 41.2% 37.6% 51.2% 68.8%
2010-2015 Change 0.86% 0.53% 0.43% 0.20%
The <55 renter tenure for the market area decreased from 70.2 percent in 2000 to 68.6 percent in 2010. The
<55 renter tenure is forecasted to increase from 68.6 percent in 2010 to 68.8 percent in 2015.
55+ Renter Tenure

2000 Tenure 21.5% 18.5% 20.7% 27.9%
2010 Tenure 22.0% 18.7% 20.8% 28.3%
2000-2010 Change 0.53% 0.25% 0.15% 0.41%
2010 Tenure 22.0% 18.7% 20.8% 28.3%

2015 Tenure 22.5% 19.0% 21.6% 29.9%
2010-2015 Change 0.41% 0.30% 0.72% 1.58%
The 55+ renter tenure for the market area increased from 27.9 percent in 2000 to 28.3 percent in 2010. The
55+ renter tenure is forecasted to increase from 28.3 percent in 2010 to 29.9 percent in 2015.

62+ Renter Tenure
2000 Tenure 21.8% 19.0% 21.0% 27.7%
2010 Tenure 22.7% 19.5% 22.1% 28.6%
2000-2010 Change 0.90% 0.56% 1.02% 0.91%
2010 Tenure 22.7% 19.5% 22.1% 28.6%

2015 Tenure 23.1% 19.8% 22.6% 30.0%
2010-2015 Change 0.39% 0.26% 0.55% 1.40%
65+ Renter Tenure

2000 Tenure 22.0% 19.4% 21.3% 27.5%
2010 Tenure 23.2% 20.2% 23.0% 28.7%
2000-2010 Change 1.21% 0.84% 1.69% 1.26%
2010 Tenure 23.2% 20.2% 23.0% 28.7%

2015 Tenure 23.6% 20.4% 23.4% 30.0%
2010-2015 Change 0.38% 0.23% 0.43% 1.29%

Owner Households
The following tables give owner household data for the nation, state, region and market area since 2000. The
data sets, which come from the U.S. Census Bureau and Claritas, include forecasts through 2015:
Owner Households
2000 Households 69,840,987 1,840,114 27,986 9,974
2010 Households 77,624,393 2,130,300 33,455 11,669
2000-2010 Change 7,783,406 290,186 5,469 1,695
Annual Change, % 1.1% 1.5% 1.8% 1.6%
2010 Households 77,624,393 2,130,300 33,455 11,669

2015 Households 80,835,933 2,239,109 35,227 11,897
2010-2015 Change 3,211,540 108,809 1,772 228
Annual Change, % 0.8% 1.0% 1.0% 0.4%
Owner households for the market area increased from 9,974 in 2000 to 11,669 in 2010. Owner households are
<55 Owner Households

2000 Households 41,210,444 1,125,242 16,124 5,277
2010 Households 42,008,799 1,180,625 17,102 5,428
2000-2010 Change 798,355 55,383 978 151
Annual Change, % 0.2% 0.5% 0.6% 0.3%
2010 Households 42,008,799 1,180,625 17,102 5,428

2015 Households 40,537,995 1,143,849 17,038 5,390
2010-2015 Change -1,470,804 -36,776 -64 -39
Annual Change, % -0.7% -0.6% -0.1% -0.1%
The <55 owner households for the market area increased from 5,277 in 2000 to 5,428 in 2010. The <55 owner
households are forecasted to decrease 0.1 percent annually through 2015. This is compared with projected
growth of -0.1, -0.6 and -0.7 percent for the region, state and nation, respectively.
55+ Owner Households

2000 Households 28,630,543 714,872 11,862 4,697
2010 Households 35,615,594 949,675 16,353 6,240
2000-2010 Change 6,985,051 234,803 4,491 1,543
Annual Change, % 2.2% 2.9% 3.3% 2.9%
2010 Households 35,615,594 949,675 16,353 6,240

2015 Households 40,297,938 1,095,260 18,189 6,507
2010-2015 Change 4,682,344 145,585 1,836 267
Annual Change, % 2.5% 2.9% 2.2% 0.8%
The 55+ owner households for the market area increased from 4,697 in 2000 to 6,240 in 2010. The 55+ owner
households are forecasted to increase 0.8 percent annually through 2015. This is compared with projected
growth of 2.2, 2.9 and 2.5 percent for the region, state and nation, respectively.

2000 Households 20,658,562 497,004 8,426 3,501
2010 Households 24,111,417 628,213 11,235 4,613
2000-2010 Change 3,452,855 131,209 2,809 1,112
Annual Change, % 1.6% 2.4% 2.9% 2.8%
2010 Households 24,111,417 628,213 11,235 4,613

2015 Households 27,264,303 727,150 12,373 4,708
2010-2015 Change 3,152,885 98,937 1,138 95
Annual Change, % 2.5% 3.0% 1.9% 0.4%

2000 Households 17,241,999 403,632 6,954 2,989
2010 Households 19,181,056 490,443 9,042 3,916
2000-2010 Change 1,939,057 86,811 2,088 927
Annual Change, % 1.1% 2.0% 2.7% 2.7%
2010 Households 19,181,056 490,443 9,042 3,916

2015 Households 21,678,459 569,388 9,881 3,937
2010-2015 Change 2,497,403 78,945 839 22
Annual Change, % 2.5% 3.0% 1.8% 0.1%

Renter Households
The following tables give renter household data for the nation, state, region and market area since 2000. The
data sets, which come from the U.S. Census Bureau and Claritas, include forecasts through 2015:
Renter Households
2000 Households 35,698,135 860,221 20,791 14,250
2010 Households 38,512,224 912,791 21,969 14,337
2000-2010 Change 2,814,089 52,570 1,178 87
Annual Change, % 0.8% 0.6% 0.6% 0.1%
2010 Households 38,512,224 912,791 21,969 14,337

2015 Households 40,111,244 945,092 22,898 14,672
2010-2015 Change 1,599,020 32,301 929 335
Annual Change, % 0.8% 0.7% 0.8% 0.5%
Renter households for the market area increased from 14,250 in 2000 to 14,337 in 2010. Renter households
<55 Renter Households

2000 Households 27,851,159 698,397 17,696 12,430
2010 Households 28,441,222 694,222 17,664 11,870
2000-2010 Change 590,063 -4,175 -32 -560
Annual Change, % 0.2% -0.1% 0.0% -0.5%
2010 Households 28,441,222 694,222 17,664 11,870

2015 Households 28,444,225 687,966 17,900 11,894
2010-2015 Change 3,003 -6,256 236 24
Annual Change, % 0.0% -0.2% 0.3% 0.0%
The <55 renter households for the market area decreased from 12,430 in 2000 to 11,870 in 2010. The <55
renter households are forecasted to increase 0.0 percent annually through 2015. This is compared with
projected growth of 0.3, -0.2 and 0.0 percent for the region, state and nation, respectively.
55+ Renter Households

2000 Households 7,846,976 161,824 3,095 1,820
2010 Households 10,071,002 218,569 4,305 2,467
2000-2010 Change 2,224,026 56,745 1,210 647
Annual Change, % 2.5% 3.1% 3.4% 3.1%
2010 Households 10,071,002 218,569 4,305 2,467

2015 Households 11,667,019 257,126 4,998 2,778
2010-2015 Change 1,596,017 38,557 693 310
Annual Change, % 3.0% 3.3% 3.0% 2.4%
The 55+ renter households for the market area increased from 1,820 in 2000 to 2,467 in 2010. The 55+ renter

2000 Households 5,763,765 116,461 2,245 1,339
2010 Households 7,085,438 152,569 3,179 1,846
2000-2010 Change 1,321,673 36,108 934 507
Annual Change, % 2.1% 2.7% 3.5% 3.3%
2010 Households 7,085,438 152,569 3,179 1,846

2015 Households 8,191,586 179,576 3,613 2,017
2010-2015 Change 1,106,149 27,007 434 170
Annual Change, % 2.9% 3.3% 2.6% 1.8%

2000 Households 4,870,960 97,020 1,880 1,133
2010 Households 5,805,910 124,283 2,696 1,580
2000-2010 Change 934,950 27,263 816 447
Annual Change, % 1.8% 2.5% 3.7% 3.4%
2010 Households 5,805,910 124,283 2,696 1,580

2015 Households 6,702,115 146,340 3,019 1,690
2010-2015 Change 896,205 22,057 323 110
Annual Change, % 2.9% 3.3% 2.3% 1.4%

Household Income
The following table gives average household income data for the region and market area since 2000. The data
set, which comes from the U.S. Census Bureau and Claritas, includes a forecast through 2015:
Average Household Income

2000 Average Income $56,644 $61,628 $60,597 $46,991
2010 Average Income $71,071 $83,385 $79,437 $61,700
2000-2010 Change $14,427 $21,758 $18,840 $14,709
Annual Change, % 2.3% 3.1% 2.7% 2.8%
2010 Average Income $71,071 $83,385 $79,437 $61,700

2015 Average Income $77,465 $93,713 $88,304 $67,950
2010-2015 Change $6,394 $10,328 $8,867 $6,249
Annual Change, % 1.7% 2.4% 2.1% 1.9%
Average household income for the market area increased from $46,991 in 2000 to $61,700 in 2010. Household
income is forecasted to increase 1.9 percent annually through 2015. This is compared with consumer price
index growth of 1.1 percent over the past 12 months, suggesting that growth in real disposable income is
anticipated for the area.
The following table and graph show the current distribution of household incomes for the market area. The data
set comes from the U.S. Census and Claritas:
Households, by Income (Market Area)

2011
$0 to $9,999 2,666
$10,000 to $19,999 3,083
$20,000 to $29,999 3,153
$30,000 to $39,999 2,858
$40,000 to $49,999 2,651
$50,000 to $59,999 2,050
$60,000 to $69,999 1,699
$70,000 to $79,999 1,158
$80,000 or more 6,801
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
$0 to $9,999 $10,000 to $20,000 to $30,000 to $40,000 to $50,000 to $60,000 to $70,000 to $80,000 or more
$19,999 $29,999 $39,999 $49,999 $59,999 $69,999 $79,999
Source: U.S. Census, Claritas; Allen & Associates

Owner Household Income
The following table and graph show the current distribution of owner household incomes for the market area. The
data set comes from the U.S. Census Bureau and Claritas:
Owner Households, by Income, by Size

2011
2011 $ 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7+ Person
$0 to $9,999 249 41 27 15 2 1 0
$10,000 to $19,999 465 141 18 15 34 11 5
$20,000 to $29,999 579 221 37 27 9 3 1
$30,000 to $39,999 517 350 123 46 49 16 7
$40,000 to $49,999 373 373 196 77 45 15 6
$50,000 to $59,999 266 371 151 113 51 17 7
$60,000 to $69,999 137 345 152 130 45 15 6
$70,000 to $79,999 101 293 132 114 38 12 5
$80,000 or more 746 2,159 973 838 277 90 37
6,000
5,000
4,000
3,000
2,000
1,000
0
$0 to $9,999 $10,000 to $19,999 $20,000 to $29,999 $30,000 to $39,999 $40,000 to $49,999 $50,000 to $59,999 $60,000 to $69,999 $70,000 to $79,999 $80,000 or more
The following table shows the current distribution of <55 owner household incomes for the market area. Once
again, the data set comes from the U.S. Census Bureau and Claritas:
<55 Owner Households, by Income, by Size

2011
$0 to $9,999 39 24 11 11 0 0 0
$10,000 to $19,999 59 15 7 11 2 1 0
$20,000 to $29,999 138 39 25 24 6 2 1
$30,000 to $39,999 181 61 55 39 21 7 3
$40,000 to $49,999 201 106 129 58 24 8 3
$50,000 to $59,999 93 139 87 87 42 14 6
$60,000 to $69,999 63 123 100 106 37 12 5
$70,000 to $79,999 52 103 89 93 31 10 4
$80,000 or more 381 762 653 689 226 74 30

The following table shows the current distribution of 55+ owner household incomes for the market area. Once
55+ Owner Households, by Income, by Size

2011
$0 to $9,999 210 18 16 3 2 1 0
$10,000 to $19,999 406 125 12 4 32 10 4
$20,000 to $29,999 441 182 12 3 3 1 0
$30,000 to $39,999 336 289 67 7 28 9 4
$40,000 to $49,999 172 266 67 20 21 7 3
$50,000 to $59,999 173 232 64 27 9 3 1
$60,000 to $69,999 74 222 52 24 8 3 1
$70,000 to $79,999 50 190 43 20 7 2 1
$80,000 or more 365 1,397 320 150 51 17 7

2011
$0 to $9,999 186 13 6 1 1 0 0
$10,000 to $19,999 371 107 8 1 13 4 2
$20,000 to $29,999 370 154 10 3 2 1 0
$30,000 to $39,999 261 234 54 6 25 8 3
$40,000 to $49,999 119 211 53 14 15 5 2
$50,000 to $59,999 126 160 49 20 7 2 1
$60,000 to $69,999 57 145 32 17 5 2 1
$70,000 to $79,999 39 123 25 14 4 1 1
$80,000 or more 290 903 188 107 33 11 4

2011
$0 to $9,999 175 11 1 1 1 0 0
$10,000 to $19,999 357 99 6 0 5 2 1
$20,000 to $29,999 340 142 9 2 1 0 0
$30,000 to $39,999 229 210 48 6 24 8 3
$40,000 to $49,999 97 187 48 12 12 4 2
$50,000 to $59,999 105 129 43 18 6 2 1
$60,000 to $69,999 50 111 24 14 4 1 1
$70,000 to $79,999 35 94 18 12 3 1 0
$80,000 or more 257 691 131 88 25 8 3

Renter Household Income
The following table and graph show the current distribution of renter household incomes for the market area. The
data set comes from the U.S. Census Bureau and Claritas:
Renter Households, by Income, by Size

2011
$0 to $9,999 1,466 480 231 112 23 11 8
$10,000 to $19,999 1,334 478 284 196 58 26 19
$20,000 to $29,999 1,169 551 226 222 61 27 20
$30,000 to $39,999 751 510 201 197 52 23 17
$40,000 to $49,999 473 474 239 250 74 33 24
$50,000 to $59,999 273 301 231 149 67 30 22
$60,000 to $69,999 196 313 178 100 46 21 15
$70,000 to $79,999 102 174 93 52 24 11 8
$80,000 or more 371 632 337 188 86 39 28
3,000
2,500
2,000
1,500
1,000
500
0
$0 to $9,999 $10,000 to $19,999 $20,000 to $29,999 $30,000 to $39,999 $40,000 to $49,999 $50,000 to $59,999 $60,000 to $69,999 $70,000 to $79,999 $80,000 or more
The following table shows the current distribution of <55 renter household incomes for the market area. Once
<55 Renter Households, by Income, by Size

2011
$0 to $9,999 999 434 221 109 19 9 6
$10,000 to $19,999 863 368 279 190 56 25 18
$20,000 to $29,999 919 504 200 219 55 25 18
$30,000 to $39,999 690 384 170 192 45 20 15
$40,000 to $49,999 400 407 226 238 65 29 21
$50,000 to $59,999 189 256 225 144 64 29 21
$60,000 to $69,999 133 269 167 91 38 17 12
$70,000 to $79,999 70 150 87 46 19 8 6
$80,000 or more 252 543 315 167 68 31 22

The following table shows the current distribution of 55+ renter household incomes for the market area. Once
55+ Renter Households, by Income, by Size

2011
$0 to $9,999 467 46 10 3 4 2 1
$10,000 to $19,999 471 109 5 6 2 1 1
$20,000 to $29,999 250 47 26 2 6 3 2
$30,000 to $39,999 61 126 31 5 7 3 2
$40,000 to $49,999 73 68 12 11 9 4 3
$50,000 to $59,999 84 46 6 6 3 2 1
$60,000 to $69,999 63 44 10 10 8 4 3
$70,000 to $79,999 33 24 6 6 5 2 2
$80,000 or more 119 88 22 21 18 8 6

2011
$0 to $9,999 356 35 3 1 2 1 1
$10,000 to $19,999 383 90 3 4 1 0 0
$20,000 to $29,999 218 35 20 1 3 2 1
$30,000 to $39,999 48 102 12 3 5 2 2
$40,000 to $49,999 46 43 7 7 5 2 2
$50,000 to $59,999 60 27 3 3 2 1 1
$60,000 to $69,999 44 33 3 5 6 2 2
$70,000 to $79,999 23 19 2 3 3 1 1
$80,000 or more 83 67 7 11 12 5 4

2011
$0 to $9,999 309 31 0 0 2 1 1
$10,000 to $19,999 345 82 1 4 0 0 0
$20,000 to $29,999 204 30 17 1 2 1 1
$30,000 to $39,999 42 91 4 2 4 2 1
$40,000 to $49,999 35 32 4 6 3 1 1
$50,000 to $59,999 49 19 2 2 2 1 1
$60,000 to $69,999 36 28 0 3 4 2 1
$70,000 to $79,999 19 16 0 2 3 1 1
$80,000 or more 67 58 0 7 10 4 3

Overburdened Owner Households
The following tables give overburdened owner household data for the nation, state, region and market area.
The data set comes from the U.S. Census Bureau:
Overburdened Owner Households

<20% of Income Spent on Housing 54.5% 54.2% 57.8% 59.0%
20-24% of Income Spent on Housing 14.0% 15.2% 14.3% 13.5%
>35% of Income Spent on Housing 15.9% 14.2% 12.9% 13.0%
Total 100.0% 100.0% 100.0% 100.0%
Source: U.S. Census Bureau
Our research suggests that 13.0 percent of the owner households in this market area are overburdened,
paying more than 35 percent of their income towards housing-related costs. Our research also suggests that
19.1 percent of the owner households are overburdened to 30 percent of income.
<55 Overburdened Owner Households

Total 100.0% 100.0% 100.0% 100.0%
Our research suggests that 13.1 percent of the <55 owner households in this market area are overburdened,
20.9 percent of the <55 owner households are overburdened to 30 percent of income.
55+ Overburdened Owner Households

Total 100.0% 100.0% 100.0% 100.0%
Our research suggests that 12.9 percent of the 55+ owner households in this market area are overburdened,
17.0 percent of the 55+ owner households are overburdened to 30 percent of income.

Total 100.0% 100.0% 100.0% 100.0%
Source: U.S. Census Bureau; Allen & Associates

Total 100.0% 100.0% 100.0% 100.0%

Overburdened Renter Households
The following tables give overburdened renter household data for the nation, state, region and market area.
The data set comes from the U.S. Census Bureau:
Overburdened Renter Households

Total 100.0% 100.0% 100.0% 100.0%
Our research suggests that 41.8 percent of the renter households in this market area are overburdened, paying
more than 35 percent of their income towards housing-related costs. Our research also suggests that 49.4
percent of the renter households are overburdened to 30 percent of income.
<55 Overburdened Renter Households

Total 100.0% 100.0% 100.0% 100.0%
Our research suggests that 41.6 percent of the <55 renter households in this market area are overburdened,
49.1 percent of the <55 renter households are overburdened to 30 percent of income.
55+ Overburdened Renter Households

Total 100.0% 100.0% 100.0% 100.0%
Our research suggests that 43.4 percent of the 55+ renter households in this market area are overburdened,
51.6 percent of the 55+ renter households are overburdened to 30 percent of income.

Total 100.0% 100.0% 100.0% 100.0%
Source: U.S. Census Bureau; Allen & Associates

Total 100.0% 100.0% 100.0% 100.0%

Owner Substandard Units
The U.S. Census Bureau defines substandard housing units as follows: (1) Units without complete plumbing; or
(2) Units with 1.00 or more persons per room.
The following tables give owner substandard housing unit data for occupied housing units in the nation, state,
region and market area. The data comes from the U.S. Census Bureau:
Owner Substandard Units

1.00 persons per room or less 96.5% 97.9% 98.6% 99.0%
1.01 to 1.50 persons per room 1.9% 1.1% 0.8% 0.5%
1.51 persons per room or more 1.1% 0.4% 0.2% 0.1%
Complete Plumbing 99.5% 99.4% 99.5% 99.6%

Lacking Complete Plumbing 0.5% 0.6% 0.5% 0.4%
Standard 96.5% 97.9% 98.6% 99.0%

Substandard 3.5% 2.1% 1.4% 1.0%
Total 100.0% 100.0% 100.0% 100.0%
Our research suggests that 1.0 percent of occupied owner housing units in the market area are substandard.
This is compared with 1.4, 2.1 and 3.5 percent for the region, state and nation, respectively.
Renter Substandard Units

The following tables give renter substandard housing unit data for occupied housing units in the nation, state,
region and market area. The data comes from the U.S. Census Bureau:
Renter Substandard Units

Complete Plumbing 99.0% 98.9% 99.0% 98.9%

Lacking Complete Plumbing 1.0% 1.1% 1.0% 1.1%
Standard 88.3% 92.3% 94.8% 94.3%

Substandard 11.7% 7.7% 5.2% 5.7%
Total 100.0% 100.0% 100.0% 100.0%
Our research suggests that 5.7 percent of occupied renter housing units in the market area are substandard.
This is compared with 5.2, 7.7 and 11.7 percent for the region, state and nation, respectively.

Owner Movership
The following tables give owner household movership data for the market area with an estimated breakout by
household size. The data comes from the U.S. Census Bureau and the American Housing Survey:
Owner Movership, by Size

Market Area
1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7+ Person Total
Owner to Owner 2.9% 4.6% 5.9% 5.9% 6.3% 6.9% 8.0% 4.9%
Owner to Renter 2.8% 2.6% 4.7% 4.4% 4.3% 6.6% 10.0% 3.6%
Owner Movership Rate 5.7% 7.2% 10.6% 10.2% 10.7% 13.4% 18.0% 8.4%
Source: U.S. Census, American Housing Survey; Allen & Associates
Our research suggests an owner movership rate of 8.4 percent, consisting of 4.9 percent owner to owner and 3.6
percent owner to renter movership.
Elderly Owner Movership, by Size

AHS Survey
Owner to Owner 2.0% 2.8% 2.3% 1.6% 3.1% 1.0% 3.7% 2.4%
Owner to Renter 1.7% 0.8% 1.4% 2.1% 0.6% 2.6% 0.0% 1.2%
Owner Movership Rate 3.7% 3.7% 3.7% 3.7% 3.7% 3.7% 3.7% 3.7%
Our research suggests an elderly owner movership rate of 3.7 percent, consisting of 2.4 percent owner to owner
and 1.2 percent owner to renter movership.
Renter Movership
The following tables give renter household movership data for the market area with an estimated breakout by
household size. The data comes from the U.S. Census Bureau and the American Housing Survey:
Renter Movership, by Size

Market Area
Renter to Renter 13.3% 29.6% 41.8% 50.2% 50.8% 55.0% 84.9% 30.0%
Renter to Owner 3.2% 12.1% 12.3% 15.7% 17.2% 13.3% 15.7% 9.5%
Renter Movership Rate 16.5% 41.7% 54.1% 65.9% 68.0% 68.3% 100.6% 39.5%
Our research suggests a renter movership rate of 39.5 percent, consisting of 30.0 percent renter to renter and
9.5 percent renter to owner movership.
Elderly Renter Movership, by Size

AHS Survey
Renter to Renter 7.4% 6.6% 7.2% 7.6% 6.0% 7.8% 0.0% 7.1%
Renter to Owner 0.6% 1.4% 0.7% 0.4% 2.0% 0.2% 8.0% 0.9%
Renter Movership Rate 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0%
Our research suggests an elderly renter movership rate of 8.0 percent, consisting of 7.1 percent renter to renter
and 0.9 percent renter to owner movership.

Owner Housing Unit Size Relationship
The following table sets forth the relationship between owner unit size and household size for the nation from the
most recent American Housing Survey. This data is useful in segmenting owner demand for housing by unit size:
Owner Housing Units, by Unit Size, by Household Size

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7+ Person
0 Bedroom 0.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
1 Bedroom 7.2% 2.0% 0.5% 0.2% 0.1% 0.2% 0.0%
2 Bedroom 35.4% 21.8% 12.5% 6.4% 5.0% 5.0% 4.5%
3 Bedroom 45.8% 55.2% 57.7% 54.3% 42.1% 36.7% 33.7%
4 Bedroom 11.4% 20.9% 29.3% 39.0% 52.8% 58.2% 61.9%
Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Source: American Housing Survey
Renter Housing Unit Size Relationship

The following table sets forth the relationship between renter unit size and household size for the nation from the
most recent American Housing Survey. This data is useful in segmenting renter demand for housing by unit size:
Renter Housing Units, by Unit Size, by Household Size

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7+ Person
0 Bedroom 4.9% 1.2% 0.5% 0.1% 0.2% 0.4% 0.0%
1 Bedroom 54.6% 22.9% 10.3% 7.6% 4.7% 3.1% 1.1%
2 Bedroom 30.6% 55.6% 51.1% 40.2% 30.5% 24.3% 26.2%
3 Bedroom 8.4% 17.4% 32.9% 41.1% 47.9% 44.9% 42.5%
4 Bedroom 1.4% 2.9% 5.3% 11.0% 16.8% 27.3% 30.1%
Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Source: American Housing Survey

Housing Units by Building Type
The following table gives total housing units by building type for the market area since 2000. The data set,
which comes from the U.S. Census Bureau and Claritas, includes a forecast through 2015:
Housing Units, by Building Type

Market
2000 2000-2010 2010 2010-2015 2015 % of Total
1, detached 10,576 1.1% 11,795 0.3% 11,964 42.7%
1, attached 2,663 0.7% 2,851 0.1% 2,862 10.3%
2 2,402 -2.2% 1,930 0.7% 1,996 7.0%
3 to 19 6,599 0.5% 6,940 0.7% 7,170 25.1%
20 to 49 1,281 5.8% 2,251 0.5% 2,311 8.1%
50 or more 1,460 1.5% 1,686 0.7% 1,748 6.1%
Mobile home 320 -6.1% 171 0.7% 178 0.6%
Other 1 -100.0% 0 0.0% 0 0.0%
Total 25,302 0.9% 27,625 0.4% 28,228 100.0%
Source: U.S. Census; Claritas
The total number of housing units for the market area increased from 25,302 in 2000 to 27,625 in 2010. The
total number of housing units is forecasted to increase by 604 units or 0.4 percent annually through 2015. As
discussed earlier, the number of households for the market area is anticipated to increase by 563 between
2010 and 2015.
The following tables give the distribution of occupied housing units by building type for the market area. The
data set comes from the U.S. Census:
Owner Households, by Building Type

1, detached 80.6% 80.2% 82.7% 78.1%
1, attached 5.5% 9.6% 9.2% 12.7%
2 1.7% 0.4% 1.2% 2.8%
3 to 19 2.2% 1.9% 1.2% 2.3%
20 to 49 0.6% 0.2% 0.3% 0.9%
50 or more 1.0% 1.0% 0.6% 1.4%
Mobile home 8.4% 6.6% 4.7% 1.8%
Other 0.1% 0.0% 0.1% 0.0%
Total 100.0% 100.0% 100.0% 100.0%
Source: U.S. Census
Renter Households, by Building Type

1, detached 23.9% 26.0% 24.3% 16.6%
1, attached 5.9% 10.5% 9.8% 9.3%
2 9.3% 5.3% 10.9% 14.2%
3 to 19 34.6% 37.8% 38.5% 42.2%
20 to 49 8.6% 4.7% 6.8% 8.0%
50 or more 13.5% 11.2% 7.6% 8.8%
Mobile home 4.3% 4.5% 2.1% 0.8%
Other 0.1% 0.0% 0.0% 0.0%
Total 100.0% 100.0% 100.0% 100.0%
Source: U.S. Census
Our research suggest that 90.8 percent of owners reside in of single family units. In addition, 16.8 percent of
renters reside in properties with 20 or more multifamily units.

SUPPLY ANALYSIS
In this section we conduct an analysis of multifamily housing supply for the market area. Our analysis uses the
market area definition presented previously in this report.
Overview
In conducting our analysis, we attempted to obtain information on every multifamily property with 20 or more
units in the market area. Our analysis included conventionally financed multifamily communities as well as
properties financed by the local housing authority and the state housing finance agency. Our analysis also
included properties financed by and/or subsidized by USDA and/or HUD. Finally, our analysis included
properties that are either proposed or currently under construction. The result was a comprehensive listing of
projects with 20 or more units - whether existing, under construction, or proposed - for this area. Our rental
property inventory listing is found in the pages that follow.
A map showing the location of the properties included in the rental property inventory is found in the pages that
follow. Properties identified with red pushpins have 100 percent market rate units (market rate properties),
properties identified with yellow pushpins have a mixture of market rate / restricted / subsidized units (restricted
properties), and properties identified with blue pushpins have 100 percent project-based rental assistance
(subsidized properties).
After accounting for any unconfirmed properties and any properties that are located outside the defined market
area, we arrived at a list of confirmed market area properties. This is the listing of properties upon which our
analysis is based. In our opinion, the properties included on this list give a credible picture of market conditions
as of the effective date of this report. This listing is found in the pages that follow.
Our supply analysis includes a breakdown of confirmed market area properties by rent type, project status,
year built, and financing source. We also include a rent, unit mix, and amenity summary for confirmed market
area properties. Finally, we provide summary of vouchers, concessions, and waiting lists for the properties
included in this report. This information is also found in the pages that follow.
Section 10 - Supply Analysis Allen and Associates Consulting

Rental Property Inventory
Key Project Latitude Longitude Built Renovated Rent Type Occ Type Status Financing Tot Units Vac Units Occupancy
001 1115 Wertland Street Apartments 38.0342 -78.4953 2008 na Market Rate Family Stabilized Conventional 32 0 100.0%
002 1316 Early Street Apartments 38.0198 -78.4832 1988 na Restricted Family Unconfirmed Tax Credit 6 0 100.0%
003 1800 Jefferson Park Apartments 38.0269 -78.5123 1966 na Market Rate Family Unconfirmed Conventional 226 0 100.0%
004 221 Ninth Street Property 38.0351 -78.4912 1990 na Restricted Family Unconfirmed Tax Credit 1 0 100.0%
005 600 Brandon Avenue Apartments 38.0302 -78.5042 1963 2002 Market Rate Family Stabilized Conventional 44 0 100.0%
006 Abbington Crossing Apartments 38.0747 -78.4681 1975 2005 Market Rate Family Stabilized Conventional 468 8 98.3%
007 Alcova Properties 38.0311 -78.4760 1984 na Market Rate Family Duplicate Conventional 0 0 0.0%
008 Alcove (The) Apartments 38.0348 -78.4992 1965 na Market Rate Family Stabilized Conventional 21 3 85.7%
009 Arbor Crest Apartments 38.0720 -78.4985 1984 2000 Market Rate Elderly Stabilized Conventional 70 3 95.7%
010 Arlington Boulevard Townhouses 38.0496 -78.5065 na na Market Rate Family Stabilized Conventional 30 0 100.0%
011 Ashtree Apartments and Townhomes 38.0413 -78.4973 1972 2008 Market Rate Family Stabilized Conventional 96 0 100.0%
012 Autumn Hill Apartments 38.0717 -78.4906 1965 2000 Market Rate Family Stabilized Conventional 425 27 93.6%
013 Avemore Apartments 38.0384 -78.4462 2005 na Market Rate Family Stabilized Conventional 288 6 97.9%
014 Barclay Place Apartments 38.0686 -78.5011 1993 na Market Rate Family Unstabilized Conventional 158 60 62.0%
015 Barracks West Apartments 38.0635 -78.5143 1965 2010 Market Rate Family Stabilized Conventional 274 80 70.8%
016 Barringer (The) at Monroe Lane 38.0318 -78.5028 2008 na Market Rate Family Stabilized Conventional 50 0 100.0%
017 Belmont Apartments 38.0233 -78.4734 1984 na Subsidized Family Unconfirmed PHA 23 0 100.0%
018 Berkshire Apartments 38.0653 -78.4981 1968 2003 Market Rate Family Stabilized Conventional 56 0 100.0%
019 Blue Ridge Commons Apartments 38.0234 -78.4953 1975 1997 Restricted Family Stabilized HUD 202 7 96.5%
020 Brandon Apartments 38.0319 -78.5036 1950 na Market Rate Family Stabilized Conventional 62 1 98.4%
021 Brandywine Townhomes 38.0572 -78.4873 1989 2008 Market Rate Family Stabilized Conventional 10 0 100.0%
022 Burruss Apartment Corporation 38.0442 -78.4804 1955 na Market Rate Family Unconfirmed Conventional 0 0 0.0%
023 Cambridge Square Apartments 38.0421 -78.4970 1968 2008 Market Rate Family Stabilized Conventional 83 0 100.0%
024 Camden Plaza Apartments 38.0356 -78.4982 2004 na Market Rate Family Stabilized Conventional 52 0 100.0%
025 Carratt Apartments 38.0269 -78.5124 1975 na Market Rate Family Stabilized Conventional 32 0 100.0%
026 Carriage Gate Apartments 38.0908 -78.4748 2003 na Market Rate Family Stabilized Conventional 40 2 95.0%
027 Carriage Hill Apartments 38.0294 -78.4490 2002 na Market Rate Family Stabilized Conventional 140 3 97.9%
028 Carrollton Terrace Apartments 38.0278 -78.5103 2005 na Market Rate Family Stabilized Conventional 24 0 100.0%
029 Cavalier Court Apartments 38.0280 -78.5159 1975 na Market Rate Family Stabilized Conventional 60 0 100.0%
030 CBS Rentals 38.0336 -78.4983 na na Market Rate Family Duplicate Conventional 0 0 0.0%
031 Crossings at Fourth & Preston (The) 38.0346 -78.4856 2010 na Restricted Family Prop Const Tax Credit 60 60 0.0%
032 Charlottesville Apartments 38.0269 -78.5123 2002 na Market Rate Family Student Housing Conventional 40 0 100.0%
033 Claremont at Carriage Hills 38.0297 -78.4490 2002 na Market Rate Family Condominiums Conventional 0 0 0.0%
034 University Place Apartments 38.0063 -78.5174 2002 na Market Rate Family Stabilized Conventional 144 3 97.9%
035 Courtyard Quarters Apartments 38.0340 -78.4942 1995 na Market Rate Family Student Housing Conventional 0 0 0.0%
036 Crossroads (The) Apartments 38.0262 -78.5143 1996 na Market Rate Family Stabilized Conventional 34 0 100.0%
037 DFG Properties 38.1041 -78.5548 2001 na Market Rate Family Unconfirmed Conventional 0 0 0.0%
038 Eagles Landing Apartments 38.0164 -78.5225 2003 na Market Rate Family Stabilized Conventional 280 56 80.0%
039 Ephphatha Village Apartments 38.0188 -78.4945 1992 na Subsidized Family Special Needs HUD 14 1 92.9%
040 Fore Woods Edge Apartments 38.0799 -78.4684 2002 na Restricted Elderly Duplicate Tax Credit 0 0 0.0%
041 Fountain Court Apartments 38.0688 -78.4682 1960 2009 Market Rate Family Rehabilitation Conventional 56 9 83.9%
042 Four Seasons Apartments 38.0777 -78.4836 1975 na Market Rate Family Duplicate Conventional 0 0 0.0%
043 Friendship Court Apartments 38.0283 -78.4813 1975 2004 Subsidized Family Stabilized Bond 150 2 98.7%
044 Garrett Square Apartments 38.0283 -78.4813 1975 2004 Subsidized Family Duplicate Bond 0 0 0.0%
045 Godfrey Property Management 38.0430 -78.5122 1900 na Market Rate Family Duplicate Conventional 0 0 0.0%
046 Graduate Center Apartments 38.0490 -78.5057 1983 na Market Rate Family Student Housing Conventional 48 0 100.0%
047 Graduate Court Apartments 38.0363 -78.4984 1986 na Market Rate Family Student Housing Conventional 24 0 100.0%
048 Graduate Court Apartments - Rugby 38.0565 -78.4894 na na Market Rate Family Stabilized Conventional 25 0 100.0%
049 Grady Avenue Group Home 38.0388 -78.4924 na na Subsidized Family Special Needs HUD 4 0 100.0%
050 GrandMarc at the Corner Apartments 38.0363 -78.4994 2007 na Market Rate Family Student Housing Conventional 224 15 93.3%
051 Great Eastern Management Company 38.0699 -78.4987 1940 na Market Rate Family Duplicate Conventional 0 0 0.0%

052 Greens at Hollymead Apartments 38.1125 -78.4327 1991 2007 Market Rate Family Stabilized Conventional 144 18 87.5%
053 Hearthwood Apartments 38.0599 -78.4866 1972 1997 Restricted Family Stabilized Bond 200 0 100.0%
054 Hessian Hills Apartments 38.0618 -78.5079 1966 1997 Market Rate Family Unconfirmed Conventional 184 3 98.4%
055 Hollymead Square Townhouses 38.1128 -78.4356 1978 na Market Rate Family Stabilized Conventional 58 2 96.6%
056 Howie Properties 38.1259 -78.4426 1996 na Market Rate Family Stabilized Conventional 34 2 94.1%
057 Huntington Village Apartments 38.0445 -78.5144 na na Market Rate Family Stabilized Conventional 52 0 100.0%
058 Hydraulic Apartments 38.0775 -78.4966 1998 na Market Rate Family Duplicate Conventional 0 0 0.0%
059 Colonnades Sunrise Independ. Living 38.0623 -78.5135 1991 na Market Rate Elderly Stabilized Conventional 217 1 99.5%
060 Inglewood Square Apartments 38.0648 -78.4957 1969 2005 Market Rate Family Stabilized Conventional 41 2 95.1%
061 Ivy Gardens, Phases 1, 2 & 3 38.0465 -78.5165 1973 2005 Market Rate Family Stabilized Conventional 440 23 94.8%
062 Jefferson Commons Apartments 38.0320 -78.5075 2007 na Market Rate Family Stabilized Conventional 20 0 100.0%
063 Jefferson Heights at Pantops Mtn 38.0270 -78.4358 2003 na Market Rate Elderly Stabilized Conventional 86 5 94.2%
064 Jefferson Ridge Apartments 38.0150 -78.5245 2003 na Market Rate Family Stabilized Conventional 234 0 100.0%
065 Jeffersonian Apartments 38.0506 -78.5078 1968 1975 Market Rate Family Stabilized Conventional 84 1 98.8%
066 John Street Place Apartments 38.0369 -78.4969 2001 na Market Rate Family Stabilized Conventional 6 0 100.0%
067 Bailey House at Avemore 38.0362 -78.4470 2009 na Market Rate Elderly Lease Up Conventional 92 86 6.5%
068 Lakeside Apartments 38.0030 -78.4929 1995 na Market Rate Family Stabilized Conventional 348 2 99.4%
069 Landmark Apartments 38.0273 -78.5118 1987 na Market Rate Family Stabilized Conventional 47 0 100.0%
070 Longwood Park Apartments 38.0149 -78.5048 na na Market Rate Family Stabilized Conventional 44 5 88.6%
071 M & P Associates 38.0289 -78.5098 na na Market Rate Family Duplicate Conventional 0 0 0.0%
072 Mallside Forest Apartments 38.0796 -78.4683 1998 na Restricted Family Stabilized Bond 160 21 86.9%
073 Maywood Apartments 38.0320 -78.5075 1998 na Market Rate Family Stabilized Conventional 10 0 100.0%
074 Villas at Southern Ridge Apartments 38.0078 -78.5253 1972 2007 Market Rate Family Condominiums Conventional 0 0 0.0%
075 Meriwether Apartments 38.0289 -78.4735 2006 na Market Rate Family Stabilized Conventional 20 0 100.0%
076 Mews at Little High Street Apartments 38.0308 -78.4698 1975 2007 Restricted Family Special Needs Bond 40 0 100.0%
077 Midway Manor Apartments 38.0301 -78.4852 1981 2000 Subsidized Elderly Stabilized HUD 98 0 100.0%
078 Monroe Hill Apartments 38.0319 -78.5028 2001 na Market Rate Family Unconfirmed Conventional 12 0 100.0%
079 Monticello Manor Apartments 38.0253 -78.4758 na na Subsidized Family Unconfirmed HUD 4 0 100.0%
080 Monticello Vista Elderly Apartments 38.0187 -78.4729 1900 2009 Restricted Elderly Stabilized Bond 38 0 100.0%
081 Monticello Vista Family Apartments 38.0187 -78.4729 1993 na Restricted Family Stabilized Bond 12 1 91.7%
082 Neighborhood Properties 38.0220 -78.4290 1996 na Market Rate Family Duplicate Conventional 0 0 0.0%
083 Norcross Station, Phases 1, 2, 3 38.0281 -78.4803 1924 2004 Market Rate Family Stabilized Conventional 88 0 100.0%
084 North Woods at the Four Seasons 38.0801 -78.4878 1975 2001 Market Rate Family Stabilized Conventional 310 2 99.4%
085 Branchlands Apartments 38.0719 -78.4774 1997 2009 Market Rate Elderly Rehabilitation Conventional 69 3 95.7%
086 Old Salem Townhouses 38.0635 -78.5143 1965 na Market Rate Family Duplicate Conventional 0 0 0.0%
087 Oxford Hill Apartments 38.0417 -78.4945 1968 2010 Market Rate Family Stabilized Conventional 128 0 100.0%
088 Park Lane Apartments 38.0357 -78.4754 1965 2000 Market Rate Family Stabilized Conventional 24 2 91.7%
089 Park View at South Pantops 38.0286 -78.4502 2006 na Restricted Elderly Stabilized Tax Credit 90 3 96.7%
090 Park's Edge Apartments 38.0744 -78.4932 1973 2003 Restricted Family Stabilized Tax Credit 88 3 96.6%
091 Pavilions (The) Apartments 38.0261 -78.5142 1995 na Market Rate Family Stabilized Conventional 10 0 100.0%
092 Peter Jefferson Place Apartments 38.0252 -78.4405 1998 na Market Rate Family Hotel Conventional 0 0 0.0%
093 Preston Court Apartments 38.0409 -78.4983 1928 2006 Market Rate Family Stabilized Conventional 35 0 100.0%
094 Preston Square Apartments 38.0432 -78.4931 1970 2009 Market Rate Family Stabilized Conventional 62 0 100.0%
095 R.D. Wade Rental Department 38.0840 -78.4785 1972 na Market Rate Family Stabilized Conventional 156 0 100.0%
096 Region 10 Residence Apartments 38.0268 -78.4623 2004 na Subsidized Family Special Needs Other 0 0 0.0%
097 Rio Hill Apartments 38.0804 -78.4695 1995 na Restricted Family Stabilized Tax Credit 139 8 94.2%
098 Rivanna Terrace Apartments 38.0401 -78.4571 1989 na Market Rate Family Stabilized Conventional 48 11 77.1%
099 Riverbend Condominiums 38.0300 -78.4586 2002 na Market Rate Family Condominiums Conventional 0 0 0.0%
100 Rugby McIntyre Apartments 38.0426 -78.5001 1961 2003 Market Rate Family Stabilized Conventional 72 0 100.0%
101 Shamrock Corporation 38.0259 -78.5150 na na Market Rate Family Duplicate Conventional 0 0 0.0%
102 Shamrock Gardens Apartments 38.0272 -78.5108 1975 na Market Rate Family Stabilized Conventional 36 0 100.0%

103 Solomon Court Condominiums 38.0680 -78.4970 1968 na Market Rate Family Stabilized Conventional 14 4 71.4%
104 Spruce Street Group Home 38.0244 -78.4717 na na Subsidized Family Special Needs HUD 4 0 100.0%
105 Squire Hill Apartments 38.0747 -78.4681 1975 2005 Market Rate Family Duplicate Conventional 0 0 0.0%
106 Stone Creek Village Apartments 37.9966 -78.4877 2003 na Market Rate Family Stabilized Conventional 264 4 98.5%
107 Swanson Drive Apartments 38.0622 -78.4939 na na Market Rate Family Unconfirmed Conventional 20 2 90.0%
108 Tarleton Square Apartments 38.0246 -78.4850 1968 na Market Rate Family Stabilized Conventional 53 4 92.5%
109 Terraces (The) Apartments 38.0308 -78.4814 2001 na Market Rate Family Stabilized Conventional 27 2 92.6%
110 Treesdale Park Apartments 38.0550 -78.4607 2010 na Restricted Family Construction Bond 88 88 0.0%
111 Trophy Chase Apartments 38.0717 -78.4906 1965 2000 Market Rate Family Duplicate Conventional 0 0 0.0%
112 Turtle Creek Condominiums 38.0683 -78.4971 1984 2006 Market Rate Family Condominiums Conventional 100 4 96.0%
113 University Forum Apartments 38.0427 -78.5091 1985 na Market Rate Family Stabilized Conventional 48 1 97.9%
114 University Heights Apartments 38.0434 -78.5168 1975 2001 Market Rate Family Stabilized Conventional 420 22 94.8%
115 V (The) Apartments 38.0354 -78.4997 2006 na Market Rate Family Stabilized Conventional 34 0 100.0%
116 Venable Court Apartments 38.0382 -78.4974 na 2005 Market Rate Family Stabilized Conventional 51 0 100.0%
117 Virnita Court Apartments 38.0387 -78.4868 1966 2007 Restricted Family Stabilized Tax Credit 16 0 100.0%
118 Wade Apartments at 1027 Wertland 38.0340 -78.4943 1999 na Market Rate Family Stabilized Conventional 8 0 100.0%
120 Wahoo Park Apartments 38.0365 -78.4993 na na Market Rate Family Unconfirmed Conventional 0 0 0.0%
121 Condominiums at Walker Square 38.0308 -78.4927 2003 na Market Rate Family Condominiums Conventional 0 0 0.0%
122 Wedge (The) Apartments 38.0319 -78.5028 2005 na Market Rate Family Stabilized Conventional 11 0 100.0%
123 Wertland Square Apartments 38.0350 -78.4991 2006 na Market Rate Family Stabilized Conventional 50 0 100.0%
124 Westgate Apartments 38.0699 -78.4987 1976 2010 Market Rate Family Rehabilitation Conventional 284 43 84.9%
125 Whitewood Village Apartments 38.0744 -78.4932 1973 2003 Restricted Family Duplicate Tax Credit 0 0 0.0%
126 Wilton Farm Apartments 38.0376 -78.4494 1992 na Restricted Family Stabilized Tax Credit 144 1 99.3%
127 Wiseman House Group Home 38.0261 -78.5085 1980 na Restricted Family Special Needs HUD 8 0 100.0%
128 Woodgate Apartments 38.0792 -78.4952 1998 na Market Rate Family Stabilized Conventional 48 0 100.0%
129 Woodlands of Charlottesville, Ph 1 38.0091 -78.5259 2006 na Market Rate Family Stabilized Conventional 141 0 100.0%
131 Woodlane Apartments 38.0775 -78.4966 1993 na Market Rate Family Stabilized Conventional 14 0 100.0%
132 Woodridge Apartments 38.0725 -78.4898 1993 na Market Rate Family Stabilized Conventional 60 0 100.0%
133 Woodrow Apartments 38.0287 -78.5164 1930 1997 Market Rate Family Stabilized Conventional 57 0 100.0%
134 Woods Edge Apartments 38.0814 -78.4672 2002 na Restricted Elderly Stabilized Tax Credit 97 14 85.6%
135 Pointe at 14th Street Apartments 38.0351 -78.4990 2008 na Market Rate Family Stabilized Conventional 28 0 100.0%
136 Linden Lane Apartments 38.0716 -78.4904 1999 na Market Rate Family Stabilized Conventional 20 0 100.0%
137 Martha Jefferson House 38.0399 -78.4988 2008 na Market Rate Elderly Stabilized Conventional 12 3 75.0%
138 Timberlake Place 38.0240 -78.4627 2011 na Restricted Elderly Prop Const Tax Credit 28 28 0.0%
139 Sprouse's Apartments 37.8099 -78.5009 na na Market Rate Family Unconfirmed Conventional 0 0 0.0%
140 Barter Court Apartments 38.0658 -78.4975 1972 1995 Market Rate Family Stabilized Conventional 11 0 100.0%
141 Meadowlands Apartments 38.0555 -78.7014 1991 na Subsidized Elderly Stabilized HUD 30 0 100.0%
142 Meadows Apartments 38.0555 -78.7014 1979 na Restricted Elderly Duplicate Tax Credit 0 0 0.0%
143 Crozet Meadows (New Units) 38.0555 -78.7014 2009 na Restricted Elderly Stabilized Tax Credit 38 1 97.4%
144 Crozet Meadows (Rehab Units) 38.0555 -78.7014 1979 2009 Restricted Elderly Stabilized Tax Credit 28 0 100.0%
145 Short 18th Street Housing 38.0261 -78.4613 na na Restricted Family Special Needs Other 12 1 91.7%
146 Short 18th Street Housing 38.0261 -78.4613 na 2009 Restricted Family Prop Rehab Tax Credit 12 0 100.0%
147 Scottsville School Apartments 37.7984 -78.4973 1925 1991 Subsidized Elderly Stabilized HUD 34 1 97.1%
148 Scottsville School Apartments 37.7984 -78.4973 1925 2011 Subsidized Elderly Prop Rehab Tax Credit 34 0 100.0%
149 Blue Ridge Commons Apartments 38.0234 -78.4953 1975 2009 Restricted Family Prop Rehab Tax Credit 202 0 100.0%
150 Montivanna Senior Housing 37.9362 -78.3385 2009 na Restricted Elderly Prop Const Other 70 70 0.0%

Rental Property Inventory.pdf

Rental Property Inventory, Unconfirmed

Rental Property Inventory, Confirmed, Outside Market Area
007 Alcova Properties 38.0311 -78.4760 1984 na Market Rate Family Duplicate Conventional 0 0 0.0%
026 Carriage Gate Apartments 38.0908 -78.4748 2003 na Market Rate Family Stabilized Conventional 40 2 95.0%
030 CBS Rentals 38.0336 -78.4983 na na Market Rate Family Duplicate Conventional 0 0 0.0%
032 Charlottesville Apartments 38.0269 -78.5123 2002 na Market Rate Family Student Housing Conventional 40 0 100.0%
033 Claremont at Carriage Hills 38.0297 -78.4490 2002 na Market Rate Family Condominiums Conventional 0 0 0.0%
035 Courtyard Quarters Apartments 38.0340 -78.4942 1995 na Market Rate Family Student Housing Conventional 0 0 0.0%
039 Ephphatha Village Apartments 38.0188 -78.4945 1992 na Subsidized Family Special Needs HUD 14 1 92.9%
040 Fore Woods Edge Apartments 38.0799 -78.4684 2002 na Restricted Elderly Duplicate Tax Credit 0 0 0.0%
042 Four Seasons Apartments 38.0777 -78.4836 1975 na Market Rate Family Duplicate Conventional 0 0 0.0%
044 Garrett Square Apartments 38.0283 -78.4813 1975 2004 Subsidized Family Duplicate Bond 0 0 0.0%
045 Godfrey Property Management 38.0430 -78.5122 1900 na Market Rate Family Duplicate Conventional 0 0 0.0%
046 Graduate Center Apartments 38.0490 -78.5057 1983 na Market Rate Family Student Housing Conventional 48 0 100.0%
047 Graduate Court Apartments 38.0363 -78.4984 1986 na Market Rate Family Student Housing Conventional 24 0 100.0%
049 Grady Avenue Group Home 38.0388 -78.4924 na na Subsidized Family Special Needs HUD 4 0 100.0%
050 GrandMarc at the Corner Apartments 38.0363 -78.4994 2007 na Market Rate Family Student Housing Conventional 224 15 93.3%
051 Great Eastern Management Company 38.0699 -78.4987 1940 na Market Rate Family Duplicate Conventional 0 0 0.0%
052 Greens at Hollymead Apartments 38.1125 -78.4327 1991 2007 Market Rate Family Stabilized Conventional 144 18 87.5%
055 Hollymead Square Townhouses 38.1128 -78.4356 1978 na Market Rate Family Stabilized Conventional 58 2 96.6%
056 Howie Properties 38.1259 -78.4426 1996 na Market Rate Family Stabilized Conventional 34 2 94.1%
058 Hydraulic Apartments 38.0775 -78.4966 1998 na Market Rate Family Duplicate Conventional 0 0 0.0%
071 M & P Associates 38.0289 -78.5098 na na Market Rate Family Duplicate Conventional 0 0 0.0%
074 Villas at Southern Ridge Apartments 38.0078 -78.5253 1972 2007 Market Rate Family Condominiums Conventional 0 0 0.0%
076 Mews at Little High Street Apartments 38.0308 -78.4698 1975 2007 Restricted Family Special Needs Bond 40 0 100.0%
082 Neighborhood Properties 38.0220 -78.4290 1996 na Market Rate Family Duplicate Conventional 0 0 0.0%
086 Old Salem Townhouses 38.0635 -78.5143 1965 na Market Rate Family Duplicate Conventional 0 0 0.0%
092 Peter Jefferson Place Apartments 38.0252 -78.4405 1998 na Market Rate Family Hotel Conventional 0 0 0.0%
096 Region 10 Residence Apartments 38.0268 -78.4623 2004 na Subsidized Family Special Needs Other 0 0 0.0%
099 Riverbend Condominiums 38.0300 -78.4586 2002 na Market Rate Family Condominiums Conventional 0 0 0.0%
101 Shamrock Corporation 38.0259 -78.5150 na na Market Rate Family Duplicate Conventional 0 0 0.0%
104 Spruce Street Group Home 38.0244 -78.4717 na na Subsidized Family Special Needs HUD 4 0 100.0%
105 Squire Hill Apartments 38.0747 -78.4681 1975 2005 Market Rate Family Duplicate Conventional 0 0 0.0%
111 Trophy Chase Apartments 38.0717 -78.4906 1965 2000 Market Rate Family Duplicate Conventional 0 0 0.0%
112 Turtle Creek Condominiums 38.0683 -78.4971 1984 2006 Market Rate Family Condominiums Conventional 100 4 96.0%
114 University Heights Apartments 38.0434 -78.5168 1975 2001 Market Rate Family Stabilized Conventional 420 22 94.8%
121 Condominiums at Walker Square 38.0308 -78.4927 2003 na Market Rate Family Condominiums Conventional 0 0 0.0%
125 Whitewood Village Apartments 38.0744 -78.4932 1973 2003 Restricted Family Duplicate Tax Credit 0 0 0.0%
127 Wiseman House Group Home 38.0261 -78.5085 1980 na Restricted Family Special Needs HUD 8 0 100.0%
138 Timberlake Place 38.0240 -78.4627 2011 na Restricted Elderly Prop Const Tax Credit 28 28 0.0%
140 Barter Court Apartments 38.0658 -78.4975 1972 1995 Market Rate Family Stabilized Conventional 11 0 100.0%

Rental Property Inventory, Confirmed, Outside Market Area
141 Meadowlands Apartments 38.0555 -78.7014 1991 na Subsidized Elderly Stabilized HUD 30 0 100.0%
142 Meadows Apartments 38.0555 -78.7014 1979 na Restricted Elderly Duplicate Tax Credit 0 0 0.0%
143 Crozet Meadows (New Units) 38.0555 -78.7014 2009 na Restricted Elderly Stabilized Tax Credit 38 1 97.4%
144 Crozet Meadows (Rehab Units) 38.0555 -78.7014 1979 2009 Restricted Elderly Stabilized Tax Credit 28 0 100.0%
145 Short 18th Street Housing 38.0261 -78.4613 na na Restricted Family Special Needs Other 12 1 91.7%
147 Scottsville School Apartments 37.7984 -78.4973 1925 1991 Subsidized Elderly Stabilized HUD 34 1 97.1%
148 Scottsville School Apartments 37.7984 -78.4973 1925 2011 Subsidized Elderly Prop Rehab Tax Credit 34 0 100.0%
150 Montivanna Senior Housing 37.9362 -78.3385 2009 na Restricted Elderly Prop Const Other 70 70 0.0%

Rental Property Inventory, Confirmed, Inside Market Area
001 1115 Wertland Street Apartments 38.0342 -78.4953 2008 na Market Rate Family Stabilized Conventional 32 0 100.0%
005 600 Brandon Avenue Apartments 38.0302 -78.5042 1963 2002 Market Rate Family Stabilized Conventional 44 0 100.0%
006 Abbington Crossing Apartments 38.0747 -78.4681 1975 2005 Market Rate Family Stabilized Conventional 468 8 98.3%
008 Alcove (The) Apartments 38.0348 -78.4992 1965 na Market Rate Family Stabilized Conventional 21 3 85.7%
009 Arbor Crest Apartments 38.0720 -78.4985 1984 2000 Market Rate Elderly Stabilized Conventional 70 3 95.7%
010 Arlington Boulevard Townhouses 38.0496 -78.5065 na na Market Rate Family Stabilized Conventional 30 0 100.0%
011 Ashtree Apartments and Townhomes 38.0413 -78.4973 1972 2008 Market Rate Family Stabilized Conventional 96 0 100.0%
012 Autumn Hill Apartments 38.0717 -78.4906 1965 2000 Market Rate Family Stabilized Conventional 425 27 93.6%
013 Avemore Apartments 38.0384 -78.4462 2005 na Market Rate Family Stabilized Conventional 288 6 97.9%
014 Barclay Place Apartments 38.0686 -78.5011 1993 na Market Rate Family Unstabilized Conventional 158 60 62.0%
015 Barracks West Apartments 38.0635 -78.5143 1965 2010 Market Rate Family Stabilized Conventional 274 80 70.8%
016 Barringer (The) at Monroe Lane 38.0318 -78.5028 2008 na Market Rate Family Stabilized Conventional 50 0 100.0%
018 Berkshire Apartments 38.0653 -78.4981 1968 2003 Market Rate Family Stabilized Conventional 56 0 100.0%
019 Blue Ridge Commons Apartments 38.0234 -78.4953 1975 1997 Restricted Family Stabilized HUD 202 7 96.5%
020 Brandon Apartments 38.0319 -78.5036 1950 na Market Rate Family Stabilized Conventional 62 1 98.4%
021 Brandywine Townhomes 38.0572 -78.4873 1989 2008 Market Rate Family Stabilized Conventional 10 0 100.0%
023 Cambridge Square Apartments 38.0421 -78.4970 1968 2008 Market Rate Family Stabilized Conventional 83 0 100.0%
024 Camden Plaza Apartments 38.0356 -78.4982 2004 na Market Rate Family Stabilized Conventional 52 0 100.0%
025 Carratt Apartments 38.0269 -78.5124 1975 na Market Rate Family Stabilized Conventional 32 0 100.0%
027 Carriage Hill Apartments 38.0294 -78.4490 2002 na Market Rate Family Stabilized Conventional 140 3 97.9%
028 Carrollton Terrace Apartments 38.0278 -78.5103 2005 na Market Rate Family Stabilized Conventional 24 0 100.0%
029 Cavalier Court Apartments 38.0280 -78.5159 1975 na Market Rate Family Stabilized Conventional 60 0 100.0%
031 Crossings at Fourth & Preston (The) 38.0346 -78.4856 2010 na Restricted Family Prop Const Tax Credit 60 60 0.0%
034 University Place Apartments 38.0063 -78.5174 2002 na Market Rate Family Stabilized Conventional 144 3 97.9%
036 Crossroads (The) Apartments 38.0262 -78.5143 1996 na Market Rate Family Stabilized Conventional 34 0 100.0%
038 Eagles Landing Apartments 38.0164 -78.5225 2003 na Market Rate Family Stabilized Conventional 280 56 80.0%
041 Fountain Court Apartments 38.0688 -78.4682 1960 2009 Market Rate Family Rehabilitation Conventional 56 9 83.9%
043 Friendship Court Apartments 38.0283 -78.4813 1975 2004 Subsidized Family Stabilized Bond 150 2 98.7%
048 Graduate Court Apartments - Rugby 38.0565 -78.4894 na na Market Rate Family Stabilized Conventional 25 0 100.0%
053 Hearthwood Apartments 38.0599 -78.4866 1972 1997 Restricted Family Stabilized Bond 200 0 100.0%
057 Huntington Village Apartments 38.0445 -78.5144 na na Market Rate Family Stabilized Conventional 52 0 100.0%
059 Colonnades Sunrise Independ. Living 38.0623 -78.5135 1991 na Market Rate Elderly Stabilized Conventional 217 1 99.5%
060 Inglewood Square Apartments 38.0648 -78.4957 1969 2005 Market Rate Family Stabilized Conventional 41 2 95.1%
061 Ivy Gardens, Phases 1, 2 & 3 38.0465 -78.5165 1973 2005 Market Rate Family Stabilized Conventional 440 23 94.8%
062 Jefferson Commons Apartments 38.0320 -78.5075 2007 na Market Rate Family Stabilized Conventional 20 0 100.0%
063 Jefferson Heights at Pantops Mtn 38.0270 -78.4358 2003 na Market Rate Elderly Stabilized Conventional 86 5 94.2%
064 Jefferson Ridge Apartments 38.0150 -78.5245 2003 na Market Rate Family Stabilized Conventional 234 0 100.0%
065 Jeffersonian Apartments 38.0506 -78.5078 1968 1975 Market Rate Family Stabilized Conventional 84 1 98.8%
066 John Street Place Apartments 38.0369 -78.4969 2001 na Market Rate Family Stabilized Conventional 6 0 100.0%
067 Bailey House at Avemore 38.0362 -78.4470 2009 na Market Rate Elderly Lease Up Conventional 92 86 6.5%
068 Lakeside Apartments 38.0030 -78.4929 1995 na Market Rate Family Stabilized Conventional 348 2 99.4%
069 Landmark Apartments 38.0273 -78.5118 1987 na Market Rate Family Stabilized Conventional 47 0 100.0%
070 Longwood Park Apartments 38.0149 -78.5048 na na Market Rate Family Stabilized Conventional 44 5 88.6%
072 Mallside Forest Apartments 38.0796 -78.4683 1998 na Restricted Family Stabilized Bond 160 21 86.9%
073 Maywood Apartments 38.0320 -78.5075 1998 na Market Rate Family Stabilized Conventional 10 0 100.0%
075 Meriwether Apartments 38.0289 -78.4735 2006 na Market Rate Family Stabilized Conventional 20 0 100.0%
077 Midway Manor Apartments 38.0301 -78.4852 1981 2000 Subsidized Elderly Stabilized HUD 98 0 100.0%
080 Monticello Vista Elderly Apartments 38.0187 -78.4729 1900 2009 Restricted Elderly Stabilized Bond 38 0 100.0%
081 Monticello Vista Family Apartments 38.0187 -78.4729 1993 na Restricted Family Stabilized Bond 12 1 91.7%
083 Norcross Station, Phases 1, 2, 3 38.0281 -78.4803 1924 2004 Market Rate Family Stabilized Conventional 88 0 100.0%
084 North Woods at the Four Seasons 38.0801 -78.4878 1975 2001 Market Rate Family Stabilized Conventional 310 2 99.4%

085 Branchlands Apartments 38.0719 -78.4774 1997 2009 Market Rate Elderly Rehabilitation Conventional 69 3 95.7%
087 Oxford Hill Apartments 38.0417 -78.4945 1968 2010 Market Rate Family Stabilized Conventional 128 0 100.0%
088 Park Lane Apartments 38.0357 -78.4754 1965 2000 Market Rate Family Stabilized Conventional 24 2 91.7%
089 Park View at South Pantops 38.0286 -78.4502 2006 na Restricted Elderly Stabilized Tax Credit 90 3 96.7%
090 Park's Edge Apartments 38.0744 -78.4932 1973 2003 Restricted Family Stabilized Tax Credit 88 3 96.6%
091 Pavilions (The) Apartments 38.0261 -78.5142 1995 na Market Rate Family Stabilized Conventional 10 0 100.0%
093 Preston Court Apartments 38.0409 -78.4983 1928 2006 Market Rate Family Stabilized Conventional 35 0 100.0%
094 Preston Square Apartments 38.0432 -78.4931 1970 2009 Market Rate Family Stabilized Conventional 62 0 100.0%
095 R.D. Wade Rental Department 38.0840 -78.4785 1972 na Market Rate Family Stabilized Conventional 156 0 100.0%
097 Rio Hill Apartments 38.0804 -78.4695 1995 na Restricted Family Stabilized Tax Credit 139 8 94.2%
098 Rivanna Terrace Apartments 38.0401 -78.4571 1989 na Market Rate Family Stabilized Conventional 48 11 77.1%
100 Rugby McIntyre Apartments 38.0426 -78.5001 1961 2003 Market Rate Family Stabilized Conventional 72 0 100.0%
102 Shamrock Gardens Apartments 38.0272 -78.5108 1975 na Market Rate Family Stabilized Conventional 36 0 100.0%
103 Solomon Court Condominiums 38.0680 -78.4970 1968 na Market Rate Family Stabilized Conventional 14 4 71.4%
106 Stone Creek Village Apartments 37.9966 -78.4877 2003 na Market Rate Family Stabilized Conventional 264 4 98.5%
108 Tarleton Square Apartments 38.0246 -78.4850 1968 na Market Rate Family Stabilized Conventional 53 4 92.5%
109 Terraces (The) Apartments 38.0308 -78.4814 2001 na Market Rate Family Stabilized Conventional 27 2 92.6%
110 Treesdale Park Apartments 38.0550 -78.4607 2010 na Restricted Family Construction Bond 88 88 0.0%
113 University Forum Apartments 38.0427 -78.5091 1985 na Market Rate Family Stabilized Conventional 48 1 97.9%
115 V (The) Apartments 38.0354 -78.4997 2006 na Market Rate Family Stabilized Conventional 34 0 100.0%
116 Venable Court Apartments 38.0382 -78.4974 na 2005 Market Rate Family Stabilized Conventional 51 0 100.0%
117 Virnita Court Apartments 38.0387 -78.4868 1966 2007 Restricted Family Stabilized Tax Credit 16 0 100.0%
122 Wedge (The) Apartments 38.0319 -78.5028 2005 na Market Rate Family Stabilized Conventional 11 0 100.0%
123 Wertland Square Apartments 38.0350 -78.4991 2006 na Market Rate Family Stabilized Conventional 50 0 100.0%
124 Westgate Apartments 38.0699 -78.4987 1976 2010 Market Rate Family Rehabilitation Conventional 284 43 84.9%
126 Wilton Farm Apartments 38.0376 -78.4494 1992 na Restricted Family Stabilized Tax Credit 144 1 99.3%
128 Woodgate Apartments 38.0792 -78.4952 1998 na Market Rate Family Stabilized Conventional 48 0 100.0%
131 Woodlane Apartments 38.0775 -78.4966 1993 na Market Rate Family Stabilized Conventional 14 0 100.0%
132 Woodridge Apartments 38.0725 -78.4898 1993 na Market Rate Family Stabilized Conventional 60 0 100.0%
133 Woodrow Apartments 38.0287 -78.5164 1930 1997 Market Rate Family Stabilized Conventional 57 0 100.0%
134 Woods Edge Apartments 38.0814 -78.4672 2002 na Restricted Elderly Stabilized Tax Credit 97 14 85.6%
135 Pointe at 14th Street Apartments 38.0351 -78.4990 2008 na Market Rate Family Stabilized Conventional 28 0 100.0%
136 Linden Lane Apartments 38.0716 -78.4904 1999 na Market Rate Family Stabilized Conventional 20 0 100.0%
137 Martha Jefferson House 38.0399 -78.4988 2008 na Market Rate Elderly Stabilized Conventional 12 3 75.0%
146 Short 18th Street Housing 38.0261 -78.4613 na 2009 Restricted Family Prop Rehab Tax Credit 12 0 100.0%
149 Blue Ridge Commons Apartments 38.0234 -78.4953 1975 2009 Restricted Family Prop Rehab Tax Credit 202 0 100.0%

Rental Property Inventory, Confirmed, Inside Market Area, by Rent Type
The following tables and graphs provide a summary of the confirmed market area properties included in this
analysis broken out by rent type:

Total Properties
Elderly Family Total
Market Rate 6 68 74
Restricted 3 12 15
Subsidized 1 1 2
Total 10 81 91
Total Units
Market Rate 546 6,650 7,196
Restricted 203 1,155 1,358
Subsidized 120 311 431
Total 869 8,116 8,985
Vacant Units
Market Rate 101 362 463
Restricted 17 137 154
Subsidized 54 54
Total 118 553 671
Occupancy Rate
Market Rate 82% 95% 94%
Restricted 92% 88% 89%
Subsidized 100% 83% 87%
Total 86% 93% 93%
Source: Allen & Associates
Occupancy Rate for Confirmed Elderly Units Occupancy Rate for Confirmed Family Units
Mkt Mkt
Res Res
Sub Sub
50% 55% 60% 65% 70% 75% 80% 85% 90% 95% 100% 50% 55% 60% 65% 70% 75% 80% 85% 90% 95% 100%
Our analysis includes a total of 91 confirmed market area properties consisting of 8,985 units. The occupancy
rate for these units currently stands at 93 percent. This rate reflects the occupancy for all confirmed market
area units, regardless of project status (stabilized, under construction, proposed, etc.).
Confirmed market area properties break down by rent type and tenure as shown in the tables above.

Rental Property Inventory, Confirmed, Inside Market Area, by Project Status
The following tables and graphs provide a summary of the confirmed market area properties included in this
analysis broken out by project status:

Elderly Family
Total Properties Total Properties
Sub Res Mkt Tot Sub Res Mkt Tot
Stabilized 1 3 4 8 Stabilized 1 8 65 74
Lease Up 1 1 Lease Up
Construction Construction 1 1
Rehabilitation 1 1 Rehabilitation 2 2
Prop Const Prop Const 1 1
Prop Rehab Prop Rehab 2 2
Unstabilized Unstabilized 1 1
Subtotal 2 2 Subtotal 4 3 7
Total 1 3 6 10 Total 1 12 68 81
Total Units Total Units

Stabilized 120 203 385 708 Stabilized 219 885 6,152 7,256
Construction Construction 22 66 88
Prop Const Prop Const 30 30 60
Prop Rehab Prop Rehab 40 174 214
Subtotal 161 161 Subtotal 92 270 498 860
Total 120 203 546 869 Total 311 1,155 6,650 8,116
Vacant Units Vacant Units

Stabilized 17 12 29 Stabilized 2 41 250 293
Prop Rehab Prop Rehab
Total 17 101 118 Total 54 137 362 553

Our survey includes a total of 82 stabilized market area properties consisting of 7,964 units standing at 96 percent
occupancy.
Our survey also includes a total of 9 market area properties consisting of 1,021 units that are not yet stabilized.
Unstabilized units (also referred to as pipeline units) include vacant units in lease up, construction, rehabilitation,
proposed new construction, and units with proposed renovation plans.

Elderly Family
Occupancy Rate Occupancy Rate
Stabilized 100% 92% 97% 96% Stabilized 99% 95% 96% 96%
Lease Up 7% 7% Lease Up
Construction Construction
Rehabilitation 96% 96% Rehabilitation 85% 85%
Prop Const Prop Const
Prop Rehab Prop Rehab 100% 100% 100%
Unstabilized Unstabilized 62% 62%
Subtotal 45% 45% Subtotal 43% 64% 78% 70%
Total 100% 92% 82% 86% Total 83% 88% 95% 93%
Occupancies of stabilized market area properties broken out by occupancy type (elderly or family) and rent type
(subsidized, restricted or market rate) are found below:
Occupancy Rate for Stabilized Elderly Units Occupancy Rate for Stabilized Family Units
Mkt Mkt
Res Res
Sub Sub
80% 85% 90% 95% 100% 80% 85% 90% 95% 100%
Our research suggests the following occupancy levels for the 708 stabilized elderly units in this market area:
- Subsidized, 100 percent (120 units in survey)

- Restricted, 92 percent (203 units in survey)
- Market Rate, 97 percent (385 units in survey)
Our research suggests the following occupancy levels for the 7,256 stabilized family units in this market area:
- Subsidized, 99 percent (219 units in survey)

- Restricted, 95 percent (885 units in survey)
- Market Rate, 96 percent (6152 units in survey)

Occupancy rates for stabilized market area properties broken out by occupancy type (elderly or family) and unit
type are found below (supporting data is found in the pages that follow):
Occupancy Rate for Stabilized Elderly Units Occupancy Rate for Stabilized Family Units
0BR 0BR
1BR 1BR
2BR 2BR
3BR 3BR
4BR 4BR
80% 85% 90% 95% 100% 80% 85% 90% 95% 100%
Our research suggests the following occupancy levels for the 708 stabilized elderly units in this market area:
- 0-Bedroom, 100 percent (23 units in survey)

- 3-Bedroom, not applicable (0 units in survey)
Our research suggests the following occupancy levels for the 7,256 stabilized family units in this market area:


Rental Property Inventory, Confirmed, Inside Market Area, 0-Bedroom Units
Elderly Family
Total Properties with Unit Type Total Properties with Unit Type
Sub 20% 30% 40% 50% 60% 80% Mkt Tot Sub 20% 30% 40% 50% 60% 80% Mkt Tot
Stabilized 1 1 2 Stabilized 1 12 13
Lease Up Lease Up
Rehabilitation 1 1 Rehabilitation
Unstabilized Unstabilized
Total 1 1 1 3 Total 1 1 1 12 15

Lease Up Lease Up
Rehabilitation 6 6 Rehabilitation
Total 14 9 6 29 Total 30 30 41 117 218

Stabilized Stabilized 9 9
Lease Up Lease Up
Rehabilitation Rehabilitation
Subtotal Subtotal 30 30 60
Total Total 30 30 9 69

Stabilized 100% 100% 100% Stabilized 100% 92% 94%
Lease Up Lease Up
Rehabilitation 100% 100% Rehabilitation
Prop Const Prop Const 0% 0% 0%
Subtotal 100% 100% Subtotal 0% 0% 0%
Total 100% 100% 100% 100% Total 0% 0% 100% 92% 68%


Elderly Family
Stabilized 2 1 2 2 3 10 Stabilized 3 3 33 39
Prop Rehab Prop Rehab 1 1 1 3
Subtotal 2 2 Subtotal 1 1 1 3 6
Total 2 1 2 2 5 12 Total 4 1 4 36 45

Stabilized 111 11 15 101 110 348 Stabilized 20 92 1,495 1,607
Total 111 11 15 101 220 458 Total 24 10 99 1,622 1,755

Subtotal 59 59 Subtotal 30 30
Total 13 61 74 Total 2 79 81

Stabilized 100% 100% 100% 87% 98% 96% Stabilized 100% 98% 97% 97%
Prop Rehab Prop Rehab 100% 100% 100% 100%
Subtotal 46% 46% Subtotal 100% 100% 100% 76% 80%
Total 100% 100% 100% 87% 72% 84% Total 100% 100% 98% 95% 95%

Elderly Family
Stabilized 2 1 2 4 9 Stabilized 3 4 7 53 67
Total 2 1 2 6 11 Total 5 6 8 56 75

Stabilized 9 2 51 275 337 Stabilized 110 72 442 2,953 3,577
Total 9 2 51 320 382 Total 135 201 449 3,275 4,060

Stabilized 4 10 14 Stabilized 1 2 21 132 156
Total 4 40 44 Total 7 60 21 202 290

Stabilized 100% 100% 92% 96% 96% Stabilized 99% 97% 95% 96% 96%
Construction Construction 0% 0% 0%
Prop Rehab Prop Rehab 100% 100% 100% 100%
Subtotal 33% 33% Subtotal 76% 55% 100% 78% 72%
Total 100% 100% 92% 88% 88% Total 95% 70% 95% 94% 93%

Elderly Family
Stabilized Stabilized 3 3 6 37 49
Lease Up Lease Up
Rehabilitation Rehabilitation 1 1
Prop Rehab Prop Rehab 1 1 2 1 5
Subtotal Subtotal 2 1 3 1 2 9
Total Total 5 1 6 7 39 58

Stabilized Stabilized 73 28 210 1,251 1,562
Lease Up Lease Up
Prop Rehab Prop Rehab 17 6 63 10 96
Subtotal Subtotal 33 6 71 10 49 169
Total Total 106 6 99 220 1,300 1,731

Stabilized Stabilized 1 1 15 46 63
Lease Up Lease Up
Subtotal Subtotal 16 8 12 36
Total Total 17 9 15 58 99

Stabilized Stabilized 99% 96% 93% 96% 96%
Lease Up Lease Up
Construction Construction 0% 0% 0%
Rehabilitation Rehabilitation 86% 86%
Prop Rehab Prop Rehab 100% 100% 100% 100% 100%
Subtotal Subtotal 52% 100% 89% 100% 76% 79%
Total Total 84% 100% 91% 93% 96% 94%


Elderly Family
Stabilized Stabilized 1 20 21
Lease Up Lease Up
Subtotal Subtotal
Total Total 1 20 21

Stabilized Stabilized 16 336 352
Lease Up Lease Up
Subtotal Subtotal
Total Total 16 336 352

Stabilized Stabilized 14 14
Lease Up Lease Up
Subtotal Subtotal
Total Total 14 14

Stabilized Stabilized 100% 96% 96%
Lease Up Lease Up
Subtotal Subtotal
Total Total 100% 96% 96%


Rental Property Inventory, Confirmed, Inside Market Area, by Year Built
The following tables and graph provide a summary of the confirmed market area properties included in this
analysis broken out by year built:

Total Properties
<1960 1 4 5
1960-1969 15 15
1970-1979 15 15
1980-1989 2 4 6
1990-1999 2 14 16
2000+ 5 23 28
Unknown 6 6
Total 10 81 91
Total Units
<1960 38 242 280
1960-1969 1,391 1,391
1970-1979 2,786 2,786
1980-1989 168 153 321
1990-1999 286 1,165 1,451
2000+ 377 2,165 2,542
Unknown 214 214
Total 869 8,116 8,985
Distribution of Confirmed Market Area Units by Year Built
Unknown
2000+
1990-1999
1980-1989
1970-1979
1960-1969
<1960
0 500 1,000 1,500 2,000 2,500 3,000
Our research suggests that of the 91 confirmed market area properties (8985 units) included in this report, 5
properties (280 units) were constructed before 1960, 15 properties (1391 units) were constructed between 1960
and 1969, 15 properties (2786 units) between 1970 and 1979, 6 properties (321 units) between 1980 and 1989,
16 properties (1451 units) between 1990 and 1999, and 28 properties (2542 units) after 2000. In addition, 6
properties (214 units) had an unknown date of construction.

Rental Property Inventory, Confirmed, Inside Market Area, by Financing Source
The following tables and graph provide a summary of the confirmed market area properties included in this
analysis broken out by financing source:

Total Properties
Conventional 6 68 74
Tax Credit 2 7 9
Bond 1 5 6
USDA-RD
HUD 1 1 2
Other
Total 10 81 91
Total Units
Conventional 546 6,643 7,189
Tax Credit 187 661 848
Bond 38 610 648
USDA-RD
HUD 98 202 300
Other
Total 869 8,116 8,985
Distribution of Confirmed Market Area Units by Financing Source
Other
HUD
USDA-RD
Bond
Tax Credit
Conventional
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000
Our research suggests that of the 91 confirmed properties in the market area, 74 properties (consisting of 7189
units) are conventionally financed, 9 properties (consisting of 848 units) include tax credit financing, 6 properties
(consisting of 648 units) are bond financed, 0 properties (consisting of 0 units) are exclusively USDA-RD
financed, and 2 properties (consisting of 300 units) are exclusively HUD financed.
The average project size for this market area is 99 units. The smallest projects are tax credit financed,
averaging 94 units in size. The largest projects are exclusively HUD financed, averaging 150 units in size.

Rental Property Inventory, Confirmed, Inside Market Area, Rent Summary
The following tables and graphs provide a summary of the rents charged at confirmed market area properties
broken out by unit type:

Rents
Subsidized Restricted Market
Min Max Avg Min Max Avg Min Max Avg
0-Bedroom $650 $650 $650 $510 $589 $552 $625 $1,563 $810
1-Bedroom $428 $750 $578 $474 $750 $616 $488 $3,730 $1,074
2-Bedroom $456 $889 $693 $498 $889 $704 $650 $4,830 $1,246
3-Bedroom $474 $930 $734 $518 $949 $789 $879 $3,050 $1,487
4-Bedroom $822 $822 $822 - - - $900 $2,890 $2,205
Unit Size
0-Bedroom 356 356 356 305 488 409 225 783 462
1-Bedroom 510 690 608 525 700 635 510 1,500 739
2-Bedroom 640 971 793 690 1,100 880 690 1,850 1,027
3-Bedroom 748 1,176 954 860 1,300 1,077 800 1,850 1,271
4-Bedroom 938 938 938 - - - 795 1,698 1,361
Rent per Square Foot

0-Bedroom $1.83 $1.83 $1.83 $1.21 $1.67 $1.35 $2.00 $2.78 $1.75
1-Bedroom $0.84 $1.09 $0.95 $0.90 $1.07 $0.97 $0.96 $2.49 $1.45
2-Bedroom $0.71 $0.92 $0.87 $0.72 $0.81 $0.80 $0.94 $2.61 $1.21
3-Bedroom $0.63 $0.79 $0.77 $0.60 $0.73 $0.73 $1.10 $1.65 $1.17
4-Bedroom $0.88 $0.88 $0.88 - - - $1.13 $1.70 $1.62
Rent per Square Foot for Restricted Units Rent per Square Foot for Market Rate Units
0BR 0BR
1BR 1BR
2BR 2BR
3BR 3BR
4BR 4BR
$0.30 $0.50 $0.70 $0.90 $1.10 $1.30 $1.50 $1.70 $0.30 $0.50 $0.70 $0.90 $1.10 $1.30 $1.50 $1.70

Our research suggests the following average rent levels for confirmed restricted rent units:
- 0-Bedroom, $1.35 per square foot

- 4-Bedroom, not applicable
Our research suggests the following average rent levels for confirmed market rate units:

A detailed listing of rents and floor areas for confirmed market area properties by unit type and income target is
found in the following pages.

Overview Rents Unit Size
Key Property Name Built Renovated Rent Type Occ Type Status Sub 20% 30% 40% 50% 60% 80% Mkt Sub 20% 30% 40% 50% 60% 80% Mkt
001 1115 Wertland Street Apartments 2008 na Market Rate Family Stabilized
005 600 Brandon Avenue Apartments 1963 2002 Market Rate Family Stabilized
006 Abbington Crossing Apartments 1975 2005 Market Rate Family Stabilized
008 Alcove (The) Apartments 1965 na Market Rate Family Stabilized $625 390
009 Arbor Crest Apartments 1984 2000 Market Rate Elderly Stabilized
010 Arlington Boulevard Townhouses na na Market Rate Family Stabilized
011 Ashtree Apartments and Townhomes 1972 2008 Market Rate Family Stabilized
012 Autumn Hill Apartments 1965 2000 Market Rate Family Stabilized
013 Avemore Apartments 2005 na Market Rate Family Stabilized
014 Barclay Place Apartments 1993 na Market Rate Family Unstabilized
015 Barracks West Apartments 1965 2010 Market Rate Family Stabilized $625 459
016 Barringer (The) at Monroe Lane 2008 na Market Rate Family Stabilized
018 Berkshire Apartments 1968 2003 Market Rate Family Stabilized
019 Blue Ridge Commons Apartments 1975 1997 Restricted Family Stabilized
020 Brandon Apartments 1950 na Market Rate Family Stabilized $650 400
021 Brandywine Townhomes 1989 2008 Market Rate Family Stabilized
023 Cambridge Square Apartments 1968 2008 Market Rate Family Stabilized $650 350
024 Camden Plaza Apartments 2004 na Market Rate Family Stabilized $699 500
025 Carratt Apartments 1975 na Market Rate Family Stabilized
027 Carriage Hill Apartments 2002 na Market Rate Family Stabilized
028 Carrollton Terrace Apartments 2005 na Market Rate Family Stabilized
029 Cavalier Court Apartments 1975 na Market Rate Family Stabilized
031 Crossings at Fourth & Preston (The) 2010 na Restricted Family Prop Const $650 $510 356 356
034 University Place Apartments 2002 na Market Rate Family Stabilized
036 Crossroads (The) Apartments 1996 na Market Rate Family Stabilized
038 Eagles Landing Apartments 2003 na Market Rate Family Stabilized
041 Fountain Court Apartments 1960 2009 Market Rate Family Rehabilitation
043 Friendship Court Apartments 1975 2004 Subsidized Family Stabilized
048 Graduate Court Apartments - Rugby na na Market Rate Family Stabilized
053 Hearthwood Apartments 1972 1997 Restricted Family Stabilized $589 305
057 Huntington Village Apartments na na Market Rate Family Stabilized
059 Colonnades Sunrise Independ. Living 1991 na Market Rate Elderly Stabilized
060 Inglewood Square Apartments 1969 2005 Market Rate Family Stabilized
061 Ivy Gardens, Phases 1, 2 & 3 1973 2005 Market Rate Family Stabilized
062 Jefferson Commons Apartments 2007 na Market Rate Family Stabilized
063 Jefferson Heights at Pantops Mtn 2003 na Market Rate Elderly Stabilized
064 Jefferson Ridge Apartments 2003 na Market Rate Family Stabilized
065 Jeffersonian Apartments 1968 1975 Market Rate Family Stabilized
066 John Street Place Apartments 2001 na Market Rate Family Stabilized
067 Bailey House at Avemore 2009 na Market Rate Elderly Lease Up
068 Lakeside Apartments 1995 na Market Rate Family Stabilized
069 Landmark Apartments 1987 na Market Rate Family Stabilized
070 Longwood Park Apartments na na Market Rate Family Stabilized
072 Mallside Forest Apartments 1998 na Restricted Family Stabilized
073 Maywood Apartments 1998 na Market Rate Family Stabilized
075 Meriwether Apartments 2006 na Market Rate Family Stabilized
077 Midway Manor Apartments 1981 2000 Subsidized Elderly Stabilized
080 Monticello Vista Elderly Apartments 1900 2009 Restricted Elderly Stabilized $565 $545 488 488
081 Monticello Vista Family Apartments 1993 na Restricted Family Stabilized
083 Norcross Station, Phases 1, 2, 3 1924 2004 Market Rate Family Stabilized
084 North Woods at the Four Seasons 1975 2001 Market Rate Family Stabilized
085 Branchlands Apartments 1997 2009 Market Rate Elderly Rehabilitation $1,563 513
087 Oxford Hill Apartments 1968 2010 Market Rate Family Stabilized
088 Park Lane Apartments 1965 2000 Market Rate Family Stabilized
089 Park View at South Pantops 2006 na Restricted Elderly Stabilized
090 Park's Edge Apartments 1973 2003 Restricted Family Stabilized
091 Pavilions (The) Apartments 1995 na Market Rate Family Stabilized
093 Preston Court Apartments 1928 2006 Market Rate Family Stabilized
094 Preston Square Apartments 1970 2009 Market Rate Family Stabilized $690 450

095 R.D. Wade Rental Department 1972 na Market Rate Family Stabilized
097 Rio Hill Apartments 1995 na Restricted Family Stabilized
098 Rivanna Terrace Apartments 1989 na Market Rate Family Stabilized
100 Rugby McIntyre Apartments 1961 2003 Market Rate Family Stabilized $680 225
102 Shamrock Gardens Apartments 1975 na Market Rate Family Stabilized
103 Solomon Court Condominiums 1968 na Market Rate Family Stabilized
106 Stone Creek Village Apartments 2003 na Market Rate Family Stabilized
108 Tarleton Square Apartments 1968 na Market Rate Family Stabilized $879 483
109 Terraces (The) Apartments 2001 na Market Rate Family Stabilized $1,213 783
110 Treesdale Park Apartments 2010 na Restricted Family Construction
113 University Forum Apartments 1985 na Market Rate Family Stabilized
115 V (The) Apartments 2006 na Market Rate Family Stabilized
116 Venable Court Apartments na 2005 Market Rate Family Stabilized
117 Virnita Court Apartments 1966 2007 Restricted Family Stabilized
118 Wade Apartments at 1027 Wertland 1999 na Market Rate Family Stabilized $679 479
119 Wade Apartments at 1203 Wertland 2001 na Market Rate Family Stabilized $829 479
122 Wedge (The) Apartments 2005 na Market Rate Family Stabilized
123 Wertland Square Apartments 2006 na Market Rate Family Stabilized
124 Westgate Apartments 1976 2010 Market Rate Family Rehabilitation
126 Wilton Farm Apartments 1992 na Restricted Family Stabilized
128 Woodgate Apartments 1998 na Market Rate Family Stabilized
129 Woodlands of Charlottesville, Ph 1 2006 na Market Rate Family Stabilized
131 Woodlane Apartments 1993 na Market Rate Family Stabilized
132 Woodridge Apartments 1993 na Market Rate Family Stabilized
133 Woodrow Apartments 1930 1997 Market Rate Family Stabilized $745 500
134 Woods Edge Apartments 2002 na Restricted Elderly Stabilized
135 Pointe at 14th Street Apartments 2008 na Market Rate Family Stabilized
136 Linden Lane Apartments 1999 na Market Rate Family Stabilized
137 Martha Jefferson House 2008 na Market Rate Elderly Stabilized
146 Short 18th Street Housing na 2009 Restricted Family Prop Rehab
149 Blue Ridge Commons Apartments 1975 2009 Restricted Family Prop Rehab
Average $650 $565 $528 $589 $810 356 488 422 305 462
Minimum $650 $565 $510 $589 $625 356 488 356 305 225
Maximum $650 $565 $545 $589 $1,563 356 488 488 305 783

006 Abbington Crossing Apartments 1975 2005 Market Rate Family Stabilized $710 700
008 Alcove (The) Apartments 1965 na Market Rate Family Stabilized $650 700
011 Ashtree Apartments and Townhomes 1972 2008 Market Rate Family Stabilized $1,050 850
012 Autumn Hill Apartments 1965 2000 Market Rate Family Stabilized $633 751
013 Avemore Apartments 2005 na Market Rate Family Stabilized $954 801
014 Barclay Place Apartments 1993 na Market Rate Family Unstabilized $966 581
016 Barringer (The) at Monroe Lane 2008 na Market Rate Family Stabilized $1,348 573
019 Blue Ridge Commons Apartments 1975 1997 Restricted Family Stabilized $428 $474 565 565
020 Brandon Apartments 1950 na Market Rate Family Stabilized $772 700
023 Cambridge Square Apartments 1968 2008 Market Rate Family Stabilized
024 Camden Plaza Apartments 2004 na Market Rate Family Stabilized $1,188 700
025 Carratt Apartments 1975 na Market Rate Family Stabilized $618 700
027 Carriage Hill Apartments 2002 na Market Rate Family Stabilized $990 853
028 Carrollton Terrace Apartments 2005 na Market Rate Family Stabilized
029 Cavalier Court Apartments 1975 na Market Rate Family Stabilized $667 700
031 Crossings at Fourth & Preston (The) 2010 na Restricted Family Prop Const
038 Eagles Landing Apartments 2003 na Market Rate Family Stabilized $974 630
041 Fountain Court Apartments 1960 2009 Market Rate Family Rehabilitation $825 687
043 Friendship Court Apartments 1975 2004 Subsidized Family Stabilized
048 Graduate Court Apartments - Rugby na na Market Rate Family Stabilized $488 700
059 Colonnades Sunrise Independ. Living 1991 na Market Rate Elderly Stabilized $3,304 685
061 Ivy Gardens, Phases 1, 2 & 3 1973 2005 Market Rate Family Stabilized $788 627
063 Jefferson Heights at Pantops Mtn 2003 na Market Rate Elderly Stabilized $1,190 680
064 Jefferson Ridge Apartments 2003 na Market Rate Family Stabilized $1,188 934
065 Jeffersonian Apartments 1968 1975 Market Rate Family Stabilized $699 593
067 Bailey House at Avemore 2009 na Market Rate Elderly Lease Up $1,343 927
068 Lakeside Apartments 1995 na Market Rate Family Stabilized $945 754
069 Landmark Apartments 1987 na Market Rate Family Stabilized $679 550
072 Mallside Forest Apartments 1998 na Restricted Family Stabilized $578 690
075 Meriwether Apartments 2006 na Market Rate Family Stabilized $930 525
077 Midway Manor Apartments 1981 2000 Subsidized Elderly Stabilized $622 637
080 Monticello Vista Elderly Apartments 1900 2009 Restricted Elderly Stabilized $746 $569 700 700
083 Norcross Station, Phases 1, 2, 3 1924 2004 Market Rate Family Stabilized $1,245 859
084 North Woods at the Four Seasons 1975 2001 Market Rate Family Stabilized $760 750
085 Branchlands Apartments 1997 2009 Market Rate Elderly Rehabilitation $1,938 783
087 Oxford Hill Apartments 1968 2010 Market Rate Family Stabilized $785 930
089 Park View at South Pantops 2006 na Restricted Elderly Stabilized $750 $750 $750 678 678 678
090 Park's Edge Apartments 1973 2003 Restricted Family Stabilized $603 690
093 Preston Court Apartments 1928 2006 Market Rate Family Stabilized $960 824
094 Preston Square Apartments 1970 2009 Market Rate Family Stabilized

095 R.D. Wade Rental Department 1972 na Market Rate Family Stabilized
100 Rugby McIntyre Apartments 1961 2003 Market Rate Family Stabilized $865 650
102 Shamrock Gardens Apartments 1975 na Market Rate Family Stabilized $679 700
106 Stone Creek Village Apartments 2003 na Market Rate Family Stabilized $1,099 1,013
108 Tarleton Square Apartments 1968 na Market Rate Family Stabilized $929 781
109 Terraces (The) Apartments 2001 na Market Rate Family Stabilized $2,200 1,500
115 V (The) Apartments 2006 na Market Rate Family Stabilized $885 700
116 Venable Court Apartments na 2005 Market Rate Family Stabilized $995 700
117 Virnita Court Apartments 1966 2007 Restricted Family Stabilized $568 $645 510 510
118 Wade Apartments at 1027 Wertland 1999 na Market Rate Family Stabilized
124 Westgate Apartments 1976 2010 Market Rate Family Rehabilitation $876 513
133 Woodrow Apartments 1930 1997 Market Rate Family Stabilized $917 700
134 Woods Edge Apartments 2002 na Restricted Elderly Stabilized $566 525
137 Martha Jefferson House 2008 na Market Rate Elderly Stabilized $3,730 835
149 Blue Ridge Commons Apartments 1975 2009 Restricted Family Prop Rehab $497 $497 $497 565 565 565
Average $578 $746 $605 $600 $1,074 608 700 648 618 739
Minimum $428 $746 $497 $474 $488 510 700 565 525 510
Maximum $750 $746 $750 $750 $3,730 690 700 700 690 1,500

001 1115 Wertland Street Apartments 2008 na Market Rate Family Stabilized $1,449 1,071
005 600 Brandon Avenue Apartments 1963 2002 Market Rate Family Stabilized $1,005 1,071
006 Abbington Crossing Apartments 1975 2005 Market Rate Family Stabilized $904 939
008 Alcove (The) Apartments 1965 na Market Rate Family Stabilized $695 1,000
009 Arbor Crest Apartments 1984 2000 Market Rate Elderly Stabilized $735 850
010 Arlington Boulevard Townhouses na na Market Rate Family Stabilized $1,095 986
011 Ashtree Apartments and Townhomes 1972 2008 Market Rate Family Stabilized $1,228 1,093
012 Autumn Hill Apartments 1965 2000 Market Rate Family Stabilized $739 877
013 Avemore Apartments 2005 na Market Rate Family Stabilized $1,282 1,291
014 Barclay Place Apartments 1993 na Market Rate Family Unstabilized $1,163 976
016 Barringer (The) at Monroe Lane 2008 na Market Rate Family Stabilized $2,048 1,153
018 Berkshire Apartments 1968 2003 Market Rate Family Stabilized $755 750
020 Brandon Apartments 1950 na Market Rate Family Stabilized $945 1,000
023 Cambridge Square Apartments 1968 2008 Market Rate Family Stabilized $1,025 911
024 Camden Plaza Apartments 2004 na Market Rate Family Stabilized $1,445 1,000
025 Carratt Apartments 1975 na Market Rate Family Stabilized $863 1,000
027 Carriage Hill Apartments 2002 na Market Rate Family Stabilized $1,278 1,223
028 Carrollton Terrace Apartments 2005 na Market Rate Family Stabilized $1,538 1,137
029 Cavalier Court Apartments 1975 na Market Rate Family Stabilized $833 1,000
038 Eagles Landing Apartments 2003 na Market Rate Family Stabilized $1,245 900
041 Fountain Court Apartments 1960 2009 Market Rate Family Rehabilitation $860 877
043 Friendship Court Apartments 1975 2004 Subsidized Family Stabilized $707 640
057 Huntington Village Apartments na na Market Rate Family Stabilized $1,217 1,349
059 Colonnades Sunrise Independ. Living 1991 na Market Rate Elderly Stabilized $4,333 1,030
060 Inglewood Square Apartments 1969 2005 Market Rate Family Stabilized $860 1,019
061 Ivy Gardens, Phases 1, 2 & 3 1973 2005 Market Rate Family Stabilized $956 929
063 Jefferson Heights at Pantops Mtn 2003 na Market Rate Elderly Stabilized $1,486 855
064 Jefferson Ridge Apartments 2003 na Market Rate Family Stabilized $1,433 1,334
065 Jeffersonian Apartments 1968 1975 Market Rate Family Stabilized $814 817
067 Bailey House at Avemore 2009 na Market Rate Elderly Lease Up $1,740 1,210
068 Lakeside Apartments 1995 na Market Rate Family Stabilized $980 1,040
069 Landmark Apartments 1987 na Market Rate Family Stabilized $835 825
070 Longwood Park Apartments na na Market Rate Family Stabilized $895 1,000
072 Mallside Forest Apartments 1998 na Restricted Family Stabilized $692 932
073 Maywood Apartments 1998 na Market Rate Family Stabilized $1,010 1,000
077 Midway Manor Apartments 1981 2000 Subsidized Elderly Stabilized $755 727
080 Monticello Vista Elderly Apartments 1900 2009 Restricted Elderly Stabilized $830 1,000
081 Monticello Vista Family Apartments 1993 na Restricted Family Stabilized $830 $830 900 900
083 Norcross Station, Phases 1, 2, 3 1924 2004 Market Rate Family Stabilized $1,343 1,354
084 North Woods at the Four Seasons 1975 2001 Market Rate Family Stabilized $827 1,027
085 Branchlands Apartments 1997 2009 Market Rate Elderly Rehabilitation $2,606 1,022
087 Oxford Hill Apartments 1968 2010 Market Rate Family Stabilized $905 970
088 Park Lane Apartments 1965 2000 Market Rate Family Stabilized $1,033 845
089 Park View at South Pantops 2006 na Restricted Elderly Stabilized $889 $889 903 923
090 Park's Edge Apartments 1973 2003 Restricted Family Stabilized $702 $783 872 899
093 Preston Court Apartments 1928 2006 Market Rate Family Stabilized $1,175 900
094 Preston Square Apartments 1970 2009 Market Rate Family Stabilized $1,174 970

095 R.D. Wade Rental Department 1972 na Market Rate Family Stabilized $795 1,000
097 Rio Hill Apartments 1995 na Restricted Family Stabilized $740 $695 1,100 1,100
098 Rivanna Terrace Apartments 1989 na Market Rate Family Stabilized $650 735
100 Rugby McIntyre Apartments 1961 2003 Market Rate Family Stabilized $1,369 1,000
102 Shamrock Gardens Apartments 1975 na Market Rate Family Stabilized $830 1,000
103 Solomon Court Condominiums 1968 na Market Rate Family Stabilized $854 1,000
108 Tarleton Square Apartments 1968 na Market Rate Family Stabilized $999 1,004
110 Treesdale Park Apartments 2010 na Restricted Family Construction $815 $669 971 971
115 V (The) Apartments 2006 na Market Rate Family Stabilized $1,200 1,000
116 Venable Court Apartments na 2005 Market Rate Family Stabilized $1,350 1,000
117 Virnita Court Apartments 1966 2007 Restricted Family Stabilized $560 $618 $728 690 690 690
123 Wertland Square Apartments 2006 na Market Rate Family Stabilized $1,674 1,262
124 Westgate Apartments 1976 2010 Market Rate Family Rehabilitation $1,005 931
126 Wilton Farm Apartments 1992 na Restricted Family Stabilized $737 929
128 Woodgate Apartments 1998 na Market Rate Family Stabilized $835 1,000
129 Woodlands of Charlottesville, Ph 1 2006 na Market Rate Family Stabilized $1,392 1,126
131 Woodlane Apartments 1993 na Market Rate Family Stabilized $835 1,000
132 Woodridge Apartments 1993 na Market Rate Family Stabilized $835 1,000
133 Woodrow Apartments 1930 1997 Market Rate Family Stabilized $1,295 1,000
134 Woods Edge Apartments 2002 na Restricted Elderly Stabilized $674 778
136 Linden Lane Apartments 1999 na Market Rate Family Stabilized $835 1,000
137 Martha Jefferson House 2008 na Market Rate Elderly Stabilized $4,830 1,094
Average $693 $705 $702 $1,246 793 897 868 1,027
Minimum $456 $526 $498 $650 640 690 690 690
Maximum $889 $830 $889 $4,830 971 1,100 1,100 1,850

006 Abbington Crossing Apartments 1975 2005 Market Rate Family Stabilized $1,105 1,155
008 Alcove (The) Apartments 1965 na Market Rate Family Stabilized
011 Ashtree Apartments and Townhomes 1972 2008 Market Rate Family Stabilized $1,554 1,374
012 Autumn Hill Apartments 1965 2000 Market Rate Family Stabilized $938 1,140
013 Avemore Apartments 2005 na Market Rate Family Stabilized $1,464 1,593
014 Barclay Place Apartments 1993 na Market Rate Family Unstabilized $1,210 1,278
015 Barracks West Apartments 1965 2010 Market Rate Family Stabilized $948 1,157
016 Barringer (The) at Monroe Lane 2008 na Market Rate Family Stabilized $2,048 1,451
018 Berkshire Apartments 1968 2003 Market Rate Family Stabilized $900 900
020 Brandon Apartments 1950 na Market Rate Family Stabilized $1,599 1,250
021 Brandywine Townhomes 1989 2008 Market Rate Family Stabilized $1,050 1,600
023 Cambridge Square Apartments 1968 2008 Market Rate Family Stabilized $1,450 1,062
027 Carriage Hill Apartments 2002 na Market Rate Family Stabilized $1,398 1,627
034 University Place Apartments 2002 na Market Rate Family Stabilized $1,257 1,085
036 Crossroads (The) Apartments 1996 na Market Rate Family Stabilized $1,339 800
038 Eagles Landing Apartments 2003 na Market Rate Family Stabilized $1,429 1,200
053 Hearthwood Apartments 1972 1997 Restricted Family Stabilized $945 1,183
057 Huntington Village Apartments na na Market Rate Family Stabilized $1,400 1,353
060 Inglewood Square Apartments 1969 2005 Market Rate Family Stabilized $905 994
064 Jefferson Ridge Apartments 2003 na Market Rate Family Stabilized $1,795 1,601
066 John Street Place Apartments 2001 na Market Rate Family Stabilized $2,093 1,250
068 Lakeside Apartments 1995 na Market Rate Family Stabilized $1,223 1,220
070 Longwood Park Apartments na na Market Rate Family Stabilized $926 1,250
072 Mallside Forest Apartments 1998 na Restricted Family Stabilized $749 1,190
080 Monticello Vista Elderly Apartments 1900 2009 Restricted Elderly Stabilized
081 Monticello Vista Family Apartments 1993 na Restricted Family Stabilized $949 $930 1,000 1,000
084 North Woods at the Four Seasons 1975 2001 Market Rate Family Stabilized $975 1,100
085 Branchlands Apartments 1997 2009 Market Rate Elderly Rehabilitation
087 Oxford Hill Apartments 1968 2010 Market Rate Family Stabilized $1,217 1,090
090 Park's Edge Apartments 1973 2003 Restricted Family Stabilized $930 $930 1,127 1,127
093 Preston Court Apartments 1928 2006 Market Rate Family Stabilized $1,515 1,225
094 Preston Square Apartments 1970 2009 Market Rate Family Stabilized $1,575 1,400

097 Rio Hill Apartments 1995 na Restricted Family Stabilized $845 $850 1,300 1,300
108 Tarleton Square Apartments 1968 na Market Rate Family Stabilized
110 Treesdale Park Apartments 2010 na Restricted Family Construction $890 $725 1,176 1,176
113 University Forum Apartments 1985 na Market Rate Family Stabilized $895 1,104
124 Westgate Apartments 1976 2010 Market Rate Family Rehabilitation $1,044 1,155
126 Wilton Farm Apartments 1992 na Restricted Family Stabilized $907 1,126
135 Pointe at 14th Street Apartments 2008 na Market Rate Family Stabilized $2,353 1,310
146 Short 18th Street Housing na 2009 Restricted Family Prop Rehab $659 $848 1,050 1,050
Average $734 $659 $816 $785 $1,487 954 1,050 1,086 1,074 1,271
Minimum $474 $659 $597 $518 $879 748 1,050 860 860 800
Maximum $930 $659 $949 $945 $3,050 1,176 1,050 1,300 1,300 1,850

001 1115 Wertland Street Apartments 2008 na Market Rate Family Stabilized $2,499 1,698
006 Abbington Crossing Apartments 1975 2005 Market Rate Family Stabilized
008 Alcove (The) Apartments 1965 na Market Rate Family Stabilized
011 Ashtree Apartments and Townhomes 1972 2008 Market Rate Family Stabilized
012 Autumn Hill Apartments 1965 2000 Market Rate Family Stabilized
013 Avemore Apartments 2005 na Market Rate Family Stabilized
014 Barclay Place Apartments 1993 na Market Rate Family Unstabilized
015 Barracks West Apartments 1965 2010 Market Rate Family Stabilized
016 Barringer (The) at Monroe Lane 2008 na Market Rate Family Stabilized
019 Blue Ridge Commons Apartments 1975 1997 Restricted Family Stabilized
020 Brandon Apartments 1950 na Market Rate Family Stabilized
023 Cambridge Square Apartments 1968 2008 Market Rate Family Stabilized
027 Carriage Hill Apartments 2002 na Market Rate Family Stabilized
034 University Place Apartments 2002 na Market Rate Family Stabilized $1,516 1,328
036 Crossroads (The) Apartments 1996 na Market Rate Family Stabilized $1,739 925
038 Eagles Landing Apartments 2003 na Market Rate Family Stabilized $1,667 1,450
053 Hearthwood Apartments 1972 1997 Restricted Family Stabilized
062 Jefferson Commons Apartments 2007 na Market Rate Family Stabilized $2,329 1,469
064 Jefferson Ridge Apartments 2003 na Market Rate Family Stabilized
066 John Street Place Apartments 2001 na Market Rate Family Stabilized $2,716 1,400
068 Lakeside Apartments 1995 na Market Rate Family Stabilized
072 Mallside Forest Apartments 1998 na Restricted Family Stabilized
073 Maywood Apartments 1998 na Market Rate Family Stabilized $2,276 1,400
080 Monticello Vista Elderly Apartments 1900 2009 Restricted Elderly Stabilized
084 North Woods at the Four Seasons 1975 2001 Market Rate Family Stabilized
085 Branchlands Apartments 1997 2009 Market Rate Elderly Rehabilitation
087 Oxford Hill Apartments 1968 2010 Market Rate Family Stabilized
090 Park's Edge Apartments 1973 2003 Restricted Family Stabilized
091 Pavilions (The) Apartments 1995 na Market Rate Family Stabilized $1,819 795
093 Preston Court Apartments 1928 2006 Market Rate Family Stabilized
094 Preston Square Apartments 1970 2009 Market Rate Family Stabilized

106 Stone Creek Village Apartments 2003 na Market Rate Family Stabilized
108 Tarleton Square Apartments 1968 na Market Rate Family Stabilized
109 Terraces (The) Apartments 2001 na Market Rate Family Stabilized
118 Wade Apartments at 1027 Wertland 1999 na Market Rate Family Stabilized $2,149 1,207
119 Wade Apartments at 1203 Wertland 2001 na Market Rate Family Stabilized $2,289 1,357
122 Wedge (The) Apartments 2005 na Market Rate Family Stabilized $2,228 1,400
123 Wertland Square Apartments 2006 na Market Rate Family Stabilized $2,612 1,503
124 Westgate Apartments 1976 2010 Market Rate Family Rehabilitation
135 Pointe at 14th Street Apartments 2008 na Market Rate Family Stabilized $2,624 1,435
149 Blue Ridge Commons Apartments 1975 2009 Restricted Family Prop Rehab
Average $822 $2,205 938 1,361
Minimum $822 $900 938 795
Maximum $822 $2,890 938 1,698

Rental Property Inventory, Confirmed, Inside Market Area, Unit Mix Summary
In the tables and graphs found below we present a breakdown of unit mix for confirmed market area properties
broken out by occupancy type (elderly or family):
Rental Property Inventory, Confirmed, Inside Market Area, Unit Mix Summary
Elderly Family
0-Bedroom 23 6 29 0-Bedroom 30 71 117 218
1-Bedroom 111 127 220 458 1-Bedroom 24 109 1,622 1,755
2-Bedroom 9 53 320 382 2-Bedroom 135 650 3,275 4,060
3-Bedroom 3-Bedroom 106 325 1,300 1,731
4-Bedroom 4-Bedroom 16 336 352
Total 120 203 546 869 Total 311 1,155 6,650 8,116
Unit Mix Unit Mix

0-Bedroom 11% 1% 3% 0-Bedroom 10% 6% 2% 3%
1-Bedroom 93% 63% 40% 53% 1-Bedroom 8% 9% 24% 22%
2-Bedroom 8% 26% 59% 44% 2-Bedroom 43% 56% 49% 50%
3-Bedroom 3-Bedroom 34% 28% 20% 21%
4-Bedroom 4-Bedroom 5% 5% 4%
Total 100% 100% 100% 100% Total 100% 100% 100% 100%
Unit Mix for Confirmed Elderly Units Unit Mix for Confirmed Family Units
0BR 0BR
1BR 1BR
2BR 2BR
3BR 3BR
4BR 4BR
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Our research suggests the following unit mix for the 869 confirmed elderly units located in this market area:

Our research suggests the following unit mix for the 8,116 confirmed family units located in this market area:

- 1-Bedroom, 22 percent (1,755 units in survey)

Rental Property Inventory, Confirmed, Inside Market Area, Amenity Summary
In the table found below we present a summary of amenities found at confirmed market area properties:
Rental Property Inventory, Confirmed, Inside Market Area, Amenity Summary

Building Type Air Conditioning
1 Story 1% Central 93%
2-4 Story 93% Wall Units 3%
5-10 Story 5% Window Units 2%
>10 Story 0% None 2%
Project Amenities Heat

Ball Field 0% Central 98%
BBQ Area 18% Wall Units 1%
Billiards 10% Baseboards 1%
Bus/Comp Ctr 23% Radiators 0%
Car Care Ctr 2% None 0%
Comm Center 40%
Elevator 21% Parking
Fitness Center 32% Garage 0%
Gazebo 2% Covered 3%
Hot Tub/Jacuzzi 4% Assigned 4%
Horseshoe Pit 1% Open 95%
Lake 4% None 0%
Library 11%
Movie Theatre 8% Laundry
Picnic Area 19% Central 43%
Playground 24% W/D Units 51%
Pool 32% W/D Hookups 12%
Sauna 2%
Sports Court 18% Security
Walking Trail 9% Call Buttons 10%
Cont Access 30%
Unit Amenities Courtesy Officer 5%
Blinds 98% Monitoring 5%
Ceiling Fans 25% Security Alarms 0%
Upgraded Flooring 99% Security Patrols 7%
Fireplace 4%
Patio/Balcony 53%
Storage 14% Services
After School 1%
Kitchen Amenities Concierge 0%
Stove 100% Hair Salon 5%
Refrigerator 100% Health Care 0%
Disposal 74% Linens 0%
Dishwasher 80% Meals 3%
Microwave 37% Transportation 4%
Our research suggests that 1 percent of confirmed market area properties are 1 story in height, 93 percent are
2-4 stories in height, 5 percent are 5-10 stories in height, and 0 percent are over 10 stories in height. In
addition, surveyed properties benefit from the following project amenities: 23 percent have a
business/computer center, 40 percent have a community center, 32 percent have a fitness center, 24 percent
have a playground, and 18 percent have a sports court.

Our research also suggests that the following unit amenities are present at surveyed properties: 98 percent
have blinds, 99 percent have carpeting, 53 percent have patios/balconies, and 14 percent have outside
storage. Surveyed properties also include the following kitchen amenities: 100 percent have a stove, 100
percent have a refrigerator, 74 percent have a disposal, 80 percent have a dishwasher, and 37 percent have a
microwave.
In addition, 98 percent of confirmed market area properties have central heat while 93 percent have central air.
Our research also suggests that 95 percent of surveyed properties have open parking. A total of 43 percent of
area properties have central laundry facilities, while 12 percent have washer/dryer hookups, and 51 percent
have washer/dryer units in each residential unit.
A total of 10 percent of confirmed market area properties have call buttons, 30 percent have controlled access,
and 0 percent have security alarms.
It is also our understanding that the majority of confirmed market area properties provide cable access.
Finally, in the following pages we provide summary of vouchers, concessions and waiting lists for the
confirmed market area properties included in this report.

Key Project Latitude Longitude Built Renovated Rent Type Occ Type Status Financing Tot Units Vac Units Occupancy Concessions Vouchers Waiting List
001 1115 Wertland Street Apartments 38.0342 -78.4953 2008 na Market Rate Family Stabilized Conventional 32 0 100.0% 0% 0% -
005 600 Brandon Avenue Apartments 38.0302 -78.5042 1963 2002 Market Rate Family Stabilized Conventional 44 0 100.0% 0% 0% -
006 Abbington Crossing Apartments 38.0747 -78.4681 1975 2005 Market Rate Family Stabilized Conventional 468 8 98.3% 0% 0% no
008 Alcove (The) Apartments 38.0348 -78.4992 1965 na Market Rate Family Stabilized Conventional 21 3 85.7% 0% 0% -
009 Arbor Crest Apartments 38.0720 -78.4985 1984 2000 Market Rate Elderly Stabilized Conventional 70 3 95.7% 3% 0% 6 people
010 Arlington Boulevard Townhouses 38.0496 -78.5065 na na Market Rate Family Stabilized Conventional 30 0 100.0% 0% 0% 2 people
011 Ashtree Apartments and Townhomes 38.0413 -78.4973 1972 2008 Market Rate Family Stabilized Conventional 96 0 100.0% 0% 0% -
012 Autumn Hill Apartments 38.0717 -78.4906 1965 2000 Market Rate Family Stabilized Conventional 425 27 93.6% 0% 0% -
013 Avemore Apartments 38.0384 -78.4462 2005 na Market Rate Family Stabilized Conventional 288 6 97.9% 0% 0% no
014 Barclay Place Apartments 38.0686 -78.5011 1993 na Market Rate Family Unstabilized Conventional 158 60 62.0% 8% 0% no
015 Barracks West Apartments 38.0635 -78.5143 1965 2010 Market Rate Family Stabilized Conventional 274 80 70.8% 8% 0% -
016 Barringer (The) at Monroe Lane 38.0318 -78.5028 2008 na Market Rate Family Stabilized Conventional 50 0 100.0% 0% 0% -
018 Berkshire Apartments 38.0653 -78.4981 1968 2003 Market Rate Family Stabilized Conventional 56 0 100.0% 0% 0% -
019 Blue Ridge Commons Apartments 38.0234 -78.4953 1975 1997 Restricted Family Stabilized HUD 202 7 96.5% 0% 0% 38 people
020 Brandon Apartments 38.0319 -78.5036 1950 na Market Rate Family Stabilized Conventional 62 1 98.4% 0% 0% no
021 Brandywine Townhomes 38.0572 -78.4873 1989 2008 Market Rate Family Stabilized Conventional 10 0 100.0% 0% 0% -
023 Cambridge Square Apartments 38.0421 -78.4970 1968 2008 Market Rate Family Stabilized Conventional 83 0 100.0% 0% 0% -
024 Camden Plaza Apartments 38.0356 -78.4982 2004 na Market Rate Family Stabilized Conventional 52 0 100.0% 0% 0% -
025 Carratt Apartments 38.0269 -78.5124 1975 na Market Rate Family Stabilized Conventional 32 0 100.0% 0% 0% -
027 Carriage Hill Apartments 38.0294 -78.4490 2002 na Market Rate Family Stabilized Conventional 140 3 97.9% 2% 0% yes
028 Carrollton Terrace Apartments 38.0278 -78.5103 2005 na Market Rate Family Stabilized Conventional 24 0 100.0% 0% 0% -
029 Cavalier Court Apartments 38.0280 -78.5159 1975 na Market Rate Family Stabilized Conventional 60 0 100.0% 0% 0% -
031 Crossings at Fourth & Preston (The) 38.0346 -78.4856 2010 na Restricted Family Prop Const Tax Credit 60 60 0.0% 0% 0% -
034 University Place Apartments 38.0063 -78.5174 2002 na Market Rate Family Stabilized Conventional 144 3 97.9% 0% 0% -
036 Crossroads (The) Apartments 38.0262 -78.5143 1996 na Market Rate Family Stabilized Conventional 34 0 100.0% 0% 0% -
038 Eagles Landing Apartments 38.0164 -78.5225 2003 na Market Rate Family Stabilized Conventional 280 56 80.0% 1% 0% -
041 Fountain Court Apartments 38.0688 -78.4682 1960 2009 Market Rate Family Rehabilitation Conventional 56 9 83.9% 0% 0% -
043 Friendship Court Apartments 38.0283 -78.4813 1975 2004 Subsidized Family Stabilized Bond 150 2 98.7% 0% 0% 6-12 months
048 Graduate Court Apartments - Rugby 38.0565 -78.4894 na na Market Rate Family Stabilized Conventional 25 0 100.0% 0% 0% -
053 Hearthwood Apartments 38.0599 -78.4866 1972 1997 Restricted Family Stabilized Bond 200 0 100.0% 0% 0% 33 people
057 Huntington Village Apartments 38.0445 -78.5144 na na Market Rate Family Stabilized Conventional 52 0 100.0% 0% 0% -
059 Colonnades Sunrise Independ. Living 38.0623 -78.5135 1991 na Market Rate Elderly Stabilized Conventional 217 1 99.5% 0% 0% -
060 Inglewood Square Apartments 38.0648 -78.4957 1969 2005 Market Rate Family Stabilized Conventional 41 2 95.1% 0% 0% -
061 Ivy Gardens, Phases 1, 2 & 3 38.0465 -78.5165 1973 2005 Market Rate Family Stabilized Conventional 440 23 94.8% 0% 0% -
062 Jefferson Commons Apartments 38.0320 -78.5075 2007 na Market Rate Family Stabilized Conventional 20 0 100.0% 0% 0% -
063 Jefferson Heights at Pantops Mtn 38.0270 -78.4358 2003 na Market Rate Elderly Stabilized Conventional 86 5 94.2% 0% 0% -
064 Jefferson Ridge Apartments 38.0150 -78.5245 2003 na Market Rate Family Stabilized Conventional 234 0 100.0% 0% 0% no
065 Jeffersonian Apartments 38.0506 -78.5078 1968 1975 Market Rate Family Stabilized Conventional 84 1 98.8% 0% 0% 35 people
066 John Street Place Apartments 38.0369 -78.4969 2001 na Market Rate Family Stabilized Conventional 6 0 100.0% 0% 0% no
067 Bailey House at Avemore 38.0362 -78.4470 2009 na Market Rate Elderly Lease Up Conventional 92 86 6.5% 0% 0% -
068 Lakeside Apartments 38.0030 -78.4929 1995 na Market Rate Family Stabilized Conventional 348 2 99.4% 7% 0% yes
069 Landmark Apartments 38.0273 -78.5118 1987 na Market Rate Family Stabilized Conventional 47 0 100.0% 0% 0% -
070 Longwood Park Apartments 38.0149 -78.5048 na na Market Rate Family Stabilized Conventional 44 5 88.6% 0% 0% -
072 Mallside Forest Apartments 38.0796 -78.4683 1998 na Restricted Family Stabilized Bond 160 21 86.9% 17% 31% no
073 Maywood Apartments 38.0320 -78.5075 1998 na Market Rate Family Stabilized Conventional 10 0 100.0% 0% 0% -
075 Meriwether Apartments 38.0289 -78.4735 2006 na Market Rate Family Stabilized Conventional 20 0 100.0% 0% 0% -
077 Midway Manor Apartments 38.0301 -78.4852 1981 2000 Subsidized Elderly Stabilized HUD 98 0 100.0% 0% 0% -
080 Monticello Vista Elderly Apartments 38.0187 -78.4729 1900 2009 Restricted Elderly Stabilized Bond 38 0 100.0% 0% 61% yes
081 Monticello Vista Family Apartments 38.0187 -78.4729 1993 na Restricted Family Stabilized Bond 12 1 91.7% 0% 83% 10-12 people
083 Norcross Station, Phases 1, 2, 3 38.0281 -78.4803 1924 2004 Market Rate Family Stabilized Conventional 88 0 100.0% 0% 0% yes
084 North Woods at the Four Seasons 38.0801 -78.4878 1975 2001 Market Rate Family Stabilized Conventional 310 2 99.4% 9% 0% no
085 Branchlands Apartments 38.0719 -78.4774 1997 2009 Market Rate Elderly Rehabilitation Conventional 69 3 95.7% 0% 0% -
087 Oxford Hill Apartments 38.0417 -78.4945 1968 2010 Market Rate Family Stabilized Conventional 128 0 100.0% 0% 0% -
088 Park Lane Apartments 38.0357 -78.4754 1965 2000 Market Rate Family Stabilized Conventional 24 2 91.7% 0% 0% no
089 Park View at South Pantops 38.0286 -78.4502 2006 na Restricted Elderly Stabilized Tax Credit 90 3 96.7% 0% 9% no
090 Park's Edge Apartments 38.0744 -78.4932 1973 2003 Restricted Family Stabilized Tax Credit 88 3 96.6% 0% 49% 13 people
091 Pavilions (The) Apartments 38.0261 -78.5142 1995 na Market Rate Family Stabilized Conventional 10 0 100.0% 0% 0% no
093 Preston Court Apartments 38.0409 -78.4983 1928 2006 Market Rate Family Stabilized Conventional 35 0 100.0% 0% 0% 10-20 applications
094 Preston Square Apartments 38.0432 -78.4931 1970 2009 Market Rate Family Stabilized Conventional 62 0 100.0% 0% 0% no
095 R.D. Wade Rental Department 38.0840 -78.4785 1972 na Market Rate Family Stabilized Conventional 156 0 100.0% 0% 0% yes
097 Rio Hill Apartments 38.0804 -78.4695 1995 na Restricted Family Stabilized Tax Credit 139 8 94.2% 12% 0% no
098 Rivanna Terrace Apartments 38.0401 -78.4571 1989 na Market Rate Family Stabilized Conventional 48 11 77.1% 0% 0% no
100 Rugby McIntyre Apartments 38.0426 -78.5001 1961 2003 Market Rate Family Stabilized Conventional 72 0 100.0% 0% 0% no

Key Project Latitude Longitude Built Renovated Rent Type Occ Type Status Financing Tot Units Vac Units Occupancy Concessions Vouchers Waiting List
102 Shamrock Gardens Apartments 38.0272 -78.5108 1975 na Market Rate Family Stabilized Conventional 36 0 100.0% 0% 0% no
103 Solomon Court Condominiums 38.0680 -78.4970 1968 na Market Rate Family Stabilized Conventional 14 4 71.4% 0% 0% -
106 Stone Creek Village Apartments 37.9966 -78.4877 2003 na Market Rate Family Stabilized Conventional 264 4 98.5% 4% 0% no
108 Tarleton Square Apartments 38.0246 -78.4850 1968 na Market Rate Family Stabilized Conventional 53 4 92.5% 0% 0% no
109 Terraces (The) Apartments 38.0308 -78.4814 2001 na Market Rate Family Stabilized Conventional 27 2 92.6% 0% 0% 12 people
110 Treesdale Park Apartments 38.0550 -78.4607 2010 na Restricted Family Construction Bond 88 88 0.0% 0% 0% no
113 University Forum Apartments 38.0427 -78.5091 1985 na Market Rate Family Stabilized Conventional 48 1 97.9% 0% 0% no
115 V (The) Apartments 38.0354 -78.4997 2006 na Market Rate Family Stabilized Conventional 34 0 100.0% 0% 0% -
116 Venable Court Apartments 38.0382 -78.4974 na 2005 Market Rate Family Stabilized Conventional 51 0 100.0% 0% 0% no
117 Virnita Court Apartments 38.0387 -78.4868 1966 2007 Restricted Family Stabilized Tax Credit 16 0 100.0% 0% 44% no
118 Wade Apartments at 1027 Wertland 38.0340 -78.4943 1999 na Market Rate Family Stabilized Conventional 8 0 100.0% 0% 0% no
119 Wade Apartments at 1203 Wertland 38.0344 -78.4965 2001 na Market Rate Family Stabilized Conventional 16 0 100.0% 0% 0% no
122 Wedge (The) Apartments 38.0319 -78.5028 2005 na Market Rate Family Stabilized Conventional 11 0 100.0% 0% 0% no
123 Wertland Square Apartments 38.0350 -78.4991 2006 na Market Rate Family Stabilized Conventional 50 0 100.0% 0% 0% no
124 Westgate Apartments 38.0699 -78.4987 1976 2010 Market Rate Family Rehabilitation Conventional 284 43 84.9% 12% 0% no
126 Wilton Farm Apartments 38.0376 -78.4494 1992 na Restricted Family Stabilized Tax Credit 144 1 99.3% 10% 28% no
128 Woodgate Apartments 38.0792 -78.4952 1998 na Market Rate Family Stabilized Conventional 48 0 100.0% 0% 0% no
129 Woodlands of Charlottesville, Ph 1 38.0091 -78.5259 2006 na Market Rate Family Stabilized Conventional 141 0 100.0% 0% 0% no
130 Woodlands of Charlottesville, Ph 2 38.0091 -78.5259 2010 na Market Rate Family Stabilized Conventional 156 0 100.0% 0% 0% no
131 Woodlane Apartments 38.0775 -78.4966 1993 na Market Rate Family Stabilized Conventional 14 0 100.0% 0% 0% no
132 Woodridge Apartments 38.0725 -78.4898 1993 na Market Rate Family Stabilized Conventional 60 0 100.0% 0% 0% no
133 Woodrow Apartments 38.0287 -78.5164 1930 1997 Market Rate Family Stabilized Conventional 57 0 100.0% 0% 0% no
134 Woods Edge Apartments 38.0814 -78.4672 2002 na Restricted Elderly Stabilized Tax Credit 97 14 85.6% 25% 10% no
135 Pointe at 14th Street Apartments 38.0351 -78.4990 2008 na Market Rate Family Stabilized Conventional 28 0 100.0% 0% 0% -
136 Linden Lane Apartments 38.0716 -78.4904 1999 na Market Rate Family Stabilized Conventional 20 0 100.0% 0% 0% -
137 Martha Jefferson House 38.0399 -78.4988 2008 na Market Rate Elderly Stabilized Conventional 12 3 75.0% 0% 0% -
146 Short 18th Street Housing 38.0261 -78.4613 na 2009 Restricted Family Prop Rehab Tax Credit 12 0 100.0% 0% 100% -
149 Blue Ridge Commons Apartments 38.0234 -78.4953 1975 2009 Restricted Family Prop Rehab Tax Credit 202 0 100.0% 0% 0% 38 people

Market Data, Charlottesville Virginia, 2011-02-24

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Multifamily Market Data

Region Charlottesville and Albemarle, Virginia

Charlottesville and Albemarle, Virginia 2000 2010 2015

Market Area Charlottesville, Virginia Market Area

Charlottesville, Virginia Market Area 2000 2010 2015

Market Area Charlottesville, Virginia Market Area

Charlottesville, Virginia Market Area Elderly Family Total

Units Surveyed, Market Rate 546 6,650 7,196

Occupancy Rate, Market Rate 82% 95% 94%

Charlottesville, Virginia Market Area Subsidized Restricted Market Rate

Primary Market Area

% Census Tract County State Country/Region 2000 Pop Eff Pop

Section 7 - Market Area Allen and Associates Consulting

Secondary Market Area

Market Area Map

Section 7 - Market Area Allen and Associates Consulting

Section 7 - Market Area Allen and Associates Consulting

Section 7 - Market Area Allen and Associates Consulting

Section 7 - Market Area Allen and Associates Consulting

Gross Domestic Product

Nominal Gross Domestic Product

Nominal GDP ($ billions)

Annual Change in Nominal Gross Domestic Product

Source: Bureau of Economic Analysis

Section 8 - Economic Outlook Allen and Associates Consulting

Nominal GDP ($ billions)

Annual Change in Nominal Gross Domestic Product

Source: Bureau of Economic Analysis

Section 8 - Economic Outlook Allen and Associates Consulting

Real GDP ($ billions)

Annual Change in Real Gross Domestic Product

Source: Bureau of Economic Analysis

Section 8 - Economic Outlook Allen and Associates Consulting

Real GDP ($ billions)

Annual Change in Real Gross Domestic Product

Source: Bureau of Economic Analysis

Section 8 - Economic Outlook Allen and Associates Consulting

Money Supply (M2, $ billions)

Annual Change in Money Supply

Source: Federal Reserve

Section 8 - Economic Outlook Allen and Associates Consulting

Money Supply (M2, $ billions)

Annual Change in Money Supply

Source: Federal Reserve

Section 8 - Economic Outlook Allen and Associates Consulting

Money Velocity (Nominal GDP / M2 Money Supply)

Annual Change in Money Velocity

Source: Federal Reserve; Bureau of Economic Analysis

Section 8 - Economic Outlook Allen and Associates Consulting

Money Velocity (Nominal GDP / M2 Money Supply)

Annual Change in Money Velocity

Source: Federal Reserve; Bureau of Economic Analysis

Section 8 - Economic Outlook Allen and Associates Consulting

Section 8 - Economic Outlook Allen and Associates Consulting

Consumer Price Index

Annual Consumer Price Index Change

Source: Bureau of Labor Statistics

Section 8 - Economic Outlook Allen and Associates Consulting

10-Year Treasury Yield

10-Year Treasury Yield

Source: Federal Reserve

Section 8 - Economic Outlook Allen and Associates Consulting

Industrial Capacity Utilization