Annapolis, Md.—New data from the National Investment Center for Seniors Housing & Care (NIC) show senior housing is 89.7 percent occupied nationwide, as of the second quarter 2016, with varying rates of construction in markets throughout the country.
NIC provides the most thorough, reliable data available on current occupancy, inventory, and rental rates for senior housing and care units across the United States. Each quarter, analysts review data from 140 markets to shed light on trends at both the national and local levels.
“Nationally and locally, developers, operators, and investors of senior housing and care properties need reliable and accurate data to assess current demand and supply, predict future needs, and make informed business decisions,” said Robert Kramer, chief executive officer of NIC, located in Annapolis, Md. “An explosion in the number of seniors in America, and dramatically changing preferences for how and where they want to live as they age, require serious rethinking to ensure that seniors have the housing and care they desire in order to live with dignity.”
The data are part of NIC’s expansion of metropolitan markets covered under its NIC MAP® Data Service. Expanding from 99 markets to the current 140, NIC MAP is the most extensive data set on senior housing available. With the expanded coverage, NIC data now include markets where 71 percent of U.S. households headed by someone age 75 or older are located, providing transparency into the availability of independent living, assisted living, and memory care properties throughout the country.
The recently released data show the national average monthly rental rates asked for senior housing are $3,595.
Kramer says the NIC data suggest a slow, steady climb in asking rents amidst a plateauing senior housing and care market across many regions of the country.
For more information, see natinvcenterdv.wpengine.com.
Methodology
Each quarter, NIC collects data from more than 14,000 senior housing and care properties with at least 25 units throughout the country, defined as properties that are independent living, assisted living, memory care, or nursing care communities. Data on senior housing properties are inclusive of all unit types within those properties. Approximately 80 percent of these properties are contacted directly, and 20 percent provide data at the corporate level through workbooks and rent rolls. Once collected, the data are reviewed and audited for accuracy. Data on inventory, occupancy, asking rent, and services are captured for each unit type (studio, one bedroom, or two bedrooms) and for each care segment type (independent living, assisted living, memory care, and nursing care).
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The National Investment Center for Seniors Housing & Care (NIC) is a 501(c)3 organization established in 1991 whose mission is to enable access and choice by providing data, analytics, and connections that bring together investors and providers. For more information, visit natinvcenterdv.wpengine.com, and follow NIC on Twitter.
Contact: Rachel Griffith; rgriffith@messagepartnerspr.com; (202) 868-4824.