Senior Housing Increases in Third Quarter

More elderly adults are moving into senior care facilities.

By Mackenna Moralez, Associate Editor


Availability of senior care facilities is starting to close across the country as more adults move into their new homes. However, new construction of these facilities have slowed down. 

According to a report by the National Investment Center for Seniors Housing & Care, the occupancy rate has increased 0.7 percent to 86.5 percent in the third quarter compared to 85.8 percent in the second quarter.  

Elderly adults have begun moving to senior care facilities at rapid levels, reaching a record level of 611,000 across 31 primary markets. However, the gap between independent living occupancy and assisted living occupancy rate (87.9 percent vs. 85.1 percent, respectively) is beginning to narrow. Adults who require more needs-based care are opting to live in assisted housing, increasing the margin. 

Related: Wayfinding Solutions for Senior Living Communities

While the growth in senior housing options seems promising, the growth in senior housing options continues to be the lowest in recent history, with only 7,100 spaces breaking ground. In the third quarter, the total inventory was only 1.1 percent higher compared to 2023. 

The three cities with the highest occupancy rates include: 

  • Boston – 91.3 percent 
  • Baltimore – 89.2 percent 
  • Tampa – 89.2 percent 

The three cities with the lowest occupancy rates include: 

  • Atlanta – 83.7 percent 
  • Houston – 82.1 percent 
  • Las Vegas – 79.2 percent 

Mackenna Moralez is the associate editor of the facilities market.  



November 12, 2024


Topic Area: Maintenance and Operations


Recent Posts

Infection Control is Key to Ongoing Measles Outbreak

Infection control is essential to protecting both patients and staff from contracting measles.


Kaiser Permanente to Open New Parker Medical Offices

It also announced it's in the early stages of planning a rebuild and expansion of its Westminster Medical Offices.


Skanska Completes Renovation for New Sutter Health Care Center

The new facility will provide internal medicine, family medicine, pediatrics, as well as lab and imaging services.


Probiotic Cleaners: The Start of a Cleaning Revolution?

Advantages of probiotic cleaning include fewer resistant genes and cost savings through decreased antibiotic use.


Gun Incident Highlights Need for Security Infrastructure

A man was arrested at Aultman Memorial Hospital after allegedly firing a gun in the ER.


 
 


FREE Newsletter Signup Form

News & Updates | Webcast Alerts
Building Technologies | & More!

 
 
 


All fields are required. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.