Demand for senior living has continued to exceed the rate of new community openings in 2024, a trend that could lead to increasingly tight availability for such services down the road. According to the latest NIC MAP Vision occupancy report, released Oct. 3, the occupancy rate across the 31 primary markets that NIC MAP tracks […]
NIC MAP Vision
As life plan communities seek to best position themselves to capture future demand, many are honing growth strategies, including swapping skilled nursing for other product types, including memory care. Memory care offerings in life plan communities have grown at a slower pace in recent years compared to non-life plan communities. According to NIC Head of […]
This article is part of your SHN+ subscription In 2024, many senior living operators have shifted from raising rates to keeping them where they are, and even offering discounts. As they do so, they must walk a fine line. On one side of the coin, concessions and discounts provide a short-term financial boost to a […]
This article is part of your SHN+ subscription In the coming years, the senior living industry faces an interesting trend called the “half-back phenomenon.” No, this is not related to football. Instead, the term refers to older adults who moved to places like Florida after retirement, and are now moving to cities about half the […]
Independent living move-in rates in the second quarter of 2024 saw a “noticeable slowdown” compared with the same period in the previous year. The rate of steep discounting is also now higher. According to a new NIC MAP Vision Actual Rates report, discounts between asking rates and initial rates “reached new highs” for all care […]
This article is part of your SHN+ subscription Staffing costs. Debt service. Insurance premiums. These are just some of the line items operators are still grappling with in 2024. In the last four years, senior living expenses have not been stable. While the cost of certain goods and services has moderated, others have increased; and […]
This article is part of your SHN+ subscription Editor’s note: The upcoming Senior Housing News ReBUILD conference will feature many more great insights into the development landscape. Check out the agenda and purchase tickets here. While the pulse of senior living development may have slowed in the last four years, recent plans and projects underway […]
It’s no secret that senior living construction starts are down, and the length of time it takes for a project to open is up. But as the challenges starting new construction projects linger, the likelihood of a future shortage of senior housing inventory grows. That’s according to a new blog post from the National Investment […]
The senior living industry’s average occupancy rate ticked up again in the second quarter of the year, and is now approaching levels last seen in 2020. That’s according to the latest occupancy report from NIC MAP Vision. According to the report, released July 11, operators in the 31 primary markets that NIC MAP tracks reached […]
This article is part of your SHN+ subscription For years, senior living operators have tried in vain to increase average penetration rates. In 2024, it is the industry’s “holy grail.” If you’ve read Senior Housing News at any point in the last decade, then you are probably aware that penetration rates have been stuck, with […]
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