Despite slow growth following the housing crisis, senior living non-profits are showing signs of an upswing with the total number of units in service surpassing 200,000 for the first time at 2011’s year end. The number of units, up 1.3% in 2011, marks the highest count since 2008, according to figures released this week by Ziegler and LeadingAge, which track unit counts in the sector through their “LZ 100” ranking.
The increase represents a “significant” jump, up nearly 1% from 2010, despite a lagging recovery following the housing downturn, the LZ figures show. This compares with an average 2.6% annual growth pre-crisis.
In terms of product mix, independent living and assisted living units have seen increases while skilled nursing units have declined in number as of the end of 2011. The decline in skilled nursing units marks the third consecutive year of decline. In 2011, independent living units comprised just over half—or 51%—of the units in the LZ 100, with the percentage of assisted living units rising from 18.1% in 2010 to 18.5% in 2011. Skilled nursing units declined very slightly.
Written by Elizabeth Ecker