You are proposing a project of single family homes for sale and apartments for rent in an area that has an expected popilation growth of $10,000$ people in your primary trade area and an additional $8000$ people in your secondary trade area. currently, households in the area consist of $2\mathrm{.}4$ people per household. a review of the PTA and STA reveals that $62\%$ of household own homes and $38\%$ of the households rent, and that ownership households should not purchase a home that is priced at more than $3$ times household income while rental households should not spend more than $30\%$ of household income on rent. The annual household income distribution is: $25\%-0-24999,35\%-25,000-59,99925\%-60,000-$$$89,900-15\%-90,000$ and over. The for sale homes will be priced starting at $$180,000.$ The apartment rent for a studio is $625$ per month, a $1$ bedroom is $900$ per month, and a $2$ bedroom is $1200$ per month. annually how many homes at your price range are expected to be sold and how many apartments rented in the primary trade area and the secondary trade area? formulas follow: Market Demand:

For Sale Housing:

Annual population growth $/$ people per household $=$ new households annually

Households x $\%$appropriate household income x $\%$purchasing $=$ total available market

Total available market x $\%$buying new x market share $($capture ratio$)=$ annual project absorption

Total number of lots $/$ annual absorption $=$ absorption period

Rental Housing:

Households x $\%$appropriate household income x $\%$renting $=$ total available market

Total available market x capture ration $=$ annual lease absorption

Total units $/$ annual lease absorption $=$ lease up period

Office Space:

Number of new office using jobs x SF per employee $=$ total SF office demand

$($Total SF demand $$ vacancy allowance$)$ x market share $=$ annual project demand

Retail Space:

$($HH $ $+$ Employee $ $+$ Visitor $$)/$ Required $ per SF $=$ total SF retail demand

Total SF demand $$ existing supply $=$ SF demand

Market Competition:

For Sale:

Average purchase price x $\%$market area $=$ competitive lot sales price $($value or market price$)$