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EXHIBIT I-5CMACRO MARKET METRICS - RENT VS. OWNORANGE COUNTY1996 THROUGH 2016AnnualAnnualAveragePeriod: 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 10-Yr 15-YrAsking RentCMA na na na na $1,114 $1,168 $1,184 $1,200 $1,234 $1,302 $1,424 $1,518 $1,562 $1,502 $1,466 $1,475 $1,519 $1,585 $1,667 $1,773 $1,870Gr./Yr. --- --- --- --- --- 4.8% 1.4% 1.4% 2.9% 5.5% 9.3% 6.7% 2.9% -3.8% -2.4% 0.7% 2.9% 4.3% 5.2% 6.4% 5.4% 2.8% 3.2%Median Resale Price ($000s)CMA $172 $180 $204 $216 $234 $265 $321 $382 $460 $537 $587 $596 $398 $346 $393 $380 $402 $485 $541 $557 $583Gr./Yr. --- 5% 13% 6% 9% 13% 21% 19% 20% 17% 9% 1% -33% -13% 14% -3% 6% 21% 11% 3% 5% -0.1% 5.4%Mortgage Payment + Property Tax% Down20%20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%i-Rate 7.8% 7.6% 6.9% 7.4% 8.1% 7.0% 6.5% 5.8% 5.8% 5.9% 6.4% 6.3% 6.0% 5.0% 4.7% 4.5% 3.7% 4.0% 4.2% 3.8% 3.6%Property Tax1.1%1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1%Monthly Payment $1,147 $1,182 $1,267 $1,397 $1,597 $1,651 $1,923 $2,150 $2,590 $3,032 $3,481 $3,508 $2,283 $1,810 $1,991 $1,879 $1,843 $2,295 $2,603 $2,598 $2,669Gr./Yr. --- 3% 7% 10% 14% 3% 17% 12% 20% 17% 15% 1% -35% -21% 10% -6% -2% 24% 13% 0% 3% -2.6% 3.3%Rent Premium / (Discount) -30% -29% -38% -44% -52% -57% -59% -57% -32% -17% -26% -21% -18% -31% -36% -32% -30% -30% -37%Source: Median Rent / Home Price - CoStar; 30-Year Fixed Rate - Freddie Mac$0$300$600$900$1,200$1,500$1,800$2,100$2,400$2,700$3,000-30%-20%-10%0%10%20%30%40%1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Rent and Housing PaymentRent Growth (left axis)Payment Growth (left axis)Rent (right axis)Housing Payment (right axis)It is currently more affordable to rent than it is to own property in the Market Area, with monthly rental costs close to 30% ($799) cheaper than an average monthly mortgage.17590.00 Macro: CostThe Concord Group2-263