Senior Housing Occupancy Stays Flat in Q3, Independent Living Declines

As the economy looks for direction, the senior housing industry is seeing occupancy rates unchanged for the third quarter compared to Q2 2010 according to NIC MAP, a service of National Investment Center for the Seniors Housing & Care Industry (NIC).   Overall average occupancy for senior housing properties was 87.7% in Q3.  The data revealed independent living occupancy dropped 30 basis from the previous quarter to 87.1%, assisted living occupancy saw a 40 basis point increase during the current quarter to 88.7% and skilled nursing occupancy rate held relatively steady at 88.5%. 

“While independent living occupancy rates are continuing to establish new cyclical lows, assisted living occupancy rates are recovering from recent lows," said Chuck Harry, research director – NIC.  “Rent growth, while still positive, has slowed and reflects the challenging leasing environment that many operators are in today.”