NIC News & Events
Research Focuses on the Asset and Income Profiles
of Residents of Seniors Housing Communities
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The Boston College Center for Retirement Research (BCCRR) recently published a working paper titled
The Asset and Income Profile of Residents in Seniors Care Communities. Authored by Norma Coe and Melissa
Boyle, the paper evaluates previously completed research, including nationally representative surveys,
to examine income and assets of individuals in seniors housing properties, including independent living
facilities (ILFs), assisted living residences (ALRs) and CCRCs. The paper presents the findings as well
as the strengths and weaknesses of completed research on the topic.
The authors found that the current incomes of residents of private pay seniors housing are generally
lower than the national average of rates for the types of properties in which they live. This suggests
that residents are using other sources to pay for their monthly rent and services (such as assets, adult
children contributions, etc.). The study could not find sufficient evidence from completed research
which measures these other sources. As such, it recommends and provides a base for further research
on the topic. In addition, the authors found that the incomes and assets of ILF residents and ALR residents
are lower than those living in the community. The study was made possible by a grant from NIC.
CLICK HERE to access the BCCRR website where the report can be downloaded. Or CLICK HERE to download the full report.
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