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, […]
NIC MAP Vision
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 […]
This is part of your SHN+ subscription Spurred by steady occupancy gains and favorable supply and demographic trends, senior living operators nationwide agree that senior living demand will explode in the years to come — but capturing that demand is far from a sure thing. As the boomers loom large over senior living in 2023, […]
The senior living industry is racing back to pre-pandemic occupancy — and operators of assisted living communities appear to be closest to the finish line. Assisted living operators have since the start of the pandemic recovered roughly three-fourths of their overall occupancy losses, according to a new analysis from NIC MAP Vision. Independent living operators, […]
As 2023 enters its second quarter, the year is shaping up to be a rollercoaster ride for the senior housing sector. After a slew of bad news, the last week brought positive headlines. Brookdale (NYSE: BKD) improved its forecast for Q1 financial results, and NIC MAP Vision data showed that sector-wide occupancy has been surprisingly […]
Strong demand for needs-based units drove senior living occupancy higher in the first quarter of the year, marking the seventh consecutive quarterly increase since the industry’s pandemic occupancy low in 2021. That is according to the latest occupancy data from the National Investment Center for Seniors Housing & Care (NIC) and NIC MAP Vision. Overall […]
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