The rate at which CCRCs increase rent for residents could influence average occupancy, while occupancy growth may keep rental rate increases lower in some cases. That’s according to data analysis on continuing care retirement communities (CCRC) by NIC MAP Vision of the National Investment Center for Seniors Housing and Care (NIC). The analysis focused on […]
NIC MAP Vision
A new NIC MAP Vision report has good news and bad news for the senior living industry. The good news is that current penetration and unit absorption rates show the industry is on track to hit 90% average occupancy by 2026. Beyond that, demand is only expected to continue to increase as the baby boomers […]
This article is part of your SHN+ subscription Senior living operators are now picking up the pace with occupancy,approaching – and passing – census levels last seen in 2019. Signs of the race for occupancy speeding up are apparent, given the broader industry’s 11th consecutive quarter of census growth. Some of the industry’s prominent operating […]
Senior living operators slowed down rate increases in the first quarter of 2024 compared with in the past, and discounts are highest right now in independent living. That’s the latest snapshot from NIC MAP Vision, released on June 6. According to the NIC data, independent living operators had grown resident rates 4.2% on average by […]
This story is part of your SHN+ subscription. It’s no secret that new senior living development has fallen off a cliff, but the implications of this situation have been front-and-center recently. Two recent stories in Senior Housing News have taken a closer look at the factors behind the development slowdown, what the future might hold, […]
Senior housing occupancy exceeded 85% in the fourth quarter of 2023, representing the industry’s 10th consecutive quarter of occupancy growth since the start of the pandemic. That’s according to the latest occupancy data release from NIC MAP Vision on Jan. 11. Occupancy rates for NIC MAP’s 31 primary markets increased to 85.1% in the fourth […]
The number of new senior living community construction starts is likely to reach a low point in 2024 not seen since the start of the Covid-19 pandemic. According to a Dec. 21 analysis from NIC, “mid- or late-2024 [is] the most likely period for senior housing construction starts to reach their lowest point.” Additionally, the […]
Senior living rental rates are still growing at a near-record pace, according to a new update from NIC MAP Vision. Rental rates for the three main senior living product types – independent living, assisted living and memory care – “maintained near-record highs observed since the onset of 2023,” according to NIC Principal Omar Zahraoui. Memory […]
Senior living occupancy rates continued to increase in the third quarter of 2023, and the industry is on track to potentially reach pre-pandemic census levels next year. That’s according to the National Investment Center for Seniors Housing & Care and NIC MAP Vision, which released their latest quarterly occupancy report Thursday. Average occupancy in the […]
Life plan communities are continuing to see higher average occupancy than the rest of the senior living industry in 2023, according to a new analysis. . Total occupancy for the life plan community sector, which includes for-profit and not-for-profit communities, surpassed the rest of the industry in independent living, assisted living and memory care, according […]