2005 Operating Survey Summary

1
2005 Operating Survey Summary

• Ohio Housing Finance Agency
• October 27, 2006

2
2005 Operating Survey Results

• 1989-2002
• 792 projects with more than 10 units
• 711 projects reporting
• 90 response rate
• Statewide average vacancy rate
• 2005 8.6
• 2004 9.0
• 2003 8.7
• 2002 7.1

3
Project Information

• 711 projects responded
• 48,581units total
• 17,614 units with subsidy (36)
• 81 projects did not respond
• 7,523 units
• 228 projects in the pipeline
• 17,427 units
• not all respondents reported number of units
  w/subsidy

4
2005 Average Vacancy Rates by ODOD Region
Lake
Ashtabula
Fulton
Williams
7.6
Lucas
Ottawa
8.8
6.9
Cuyahoga
Erie
Henry
Wood
Defiance
Trumbull
Sandusky
Lorain
Portage
Paulding
Seneca
Huron
Medina
Putnam
Hancock
Summit
7.5
Mahoning
9.4
Van Wert
8.9
Crawford
Wyandot
Wayne
Columbiana
Stark
Ashland
Allen
Richland
Hardin
Holmes
Mercer
Auglaize
Carroll
Marion
Morrow
Tuscarawas
Logan
Knox
Shelby
Union
7.7
Jefferson
Delaware
Coshocton
Harrison
Darke
Champaign
Licking
Miami
7.1
8.4
Guernsey
Belmont
Muskingum
Clark
Franklin
Madison
Preble
Monroe
Montgomery
Noble
Greene
Fairfield
Perry
Morgan
Fayette
Pickaway
6.9
Butler
Hocking
Warren
Washington
13.1
Clinton
Ross
Vinton
Athens
Hamilton
Highland
6.7
Meigs
Pike
Jackson
Clermont
Brown
Adams
Scioto
Gallia
Lawrence

• Arrow denotes direction of change (not magnitude)
  from 2004

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5
Vacancy Rates by Project Type
Apt Apartments Mid/High Structures with over
3 stories SF Single Family SRO Single Room
Occupancy Town/Row Townhouse or Row House
6
Counties with Average Vacancy Rates 10
Ashtabula
Lake
Lucas
Fulton
Ottawa
Williams
Geauga
Cuyahoga
Wood
Erie
Sandusky
Defiance
Trumbull
Lorain
Henry
Portage
Huron
Paulding
Medina
Summit
Seneca
Putnam
Mahoning
Hancock
Ashland
Crawford
Van Wert
Wyandot
Wayne
Stark
Columbiana
Richland
Allen
Hardin
Carroll
Mercer
Holmes
Marion
Auglaize
Morrow
Tuscarawas
Knox
Logan
Jefferson
Shelby
Delaware
Coshocton
Harrison
Union
Champaign
Darke
Licking
Guernsey
Miami
Belmont
Muskingum
Franklin
Clark
Madison
Preble
Fairfield
Monroe
Montgomery
Noble
Perry
Greene
Pickaway
Morgan
Fayette
Hocking
Butler
Washington
Clinton
Warren
Ross
Athens
Vinton
Hamilton
Highland
Meigs
Pike
Clermont
2005
Jackson
Brown
Adams
Gallia
Scioto
2004 2005
Lawrence
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7
Projects with Vacancy Rate 10

• 210 projects surveyed had vacancy rates greater
  than 10
• 188 in 2004
• 169 in 2003

8
Projects with Vacancy Rate 10 by Allocation Year
9
Vacancies 10 by Project Type
210 projects with vacancy rate 10
10
Distribution of Vacancy Rates per Project Type
11
Tax Exempt Bond Projects

• 85 projects total 74 responded
• 87 response rate
• Statewide average vacancy rate
• 8.9
• 15.1 in 2004
• 26 projects (35) with vacancy rate 10

12
Operating Expense Data

• Statewide Average
• Expense per unit 4,270 (3,800 in 2004)
• Breakdown of average cost per unit

46 projects with tax abatement
13
Counties with 10 Highest and 10 Lowest 2004
Average Operating Expenses per Unit
Ashtabula
Lake
Lucas
Ottawa
Fulton
Williams
Geauga
Cuyahoga
Lorain
Wood
Erie
Sandusky
Defiance
Trumbull
Henry
Portage
Huron
Paulding
Medina
Summit
Seneca
Putnam
Mahoning
Hancock
Wyandot
Crawford
Ashland
Van Wert
Wayne
Allen
Stark
Columbiana
Richland
Mercer
Hardin
Carroll
Holmes
Marion
Auglaize
Morrow
Logan
Jefferson
Tuscarawas
Knox
Harrison
Shelby
Coshocton
Delaware
Union
Champaign
Darke
Guernsey
Licking
Miami
Franklin
Belmont
Muskingum
Clark
Madison
Preble
Noble
Fairfield
Monroe
Montgomery
Greene
Perry
Pickaway
Morgan
Fayette
Warren
Hocking
Clinton
Butler
Washington
Ross
Athens
Vinton
Hamilton
Highland
Meigs
Pike
Highest 10
Clermont
Jackson
Lowest 10
Brown
Adams
Gallia
Scioto
Lawrence
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