Summary. The highest performing senior housing properties in 2Q20, as measured by occupancy, generally remained highly occupied a year later, while properties with the lowest occupancies in 2Q20 tended to remain in the bottom.
A lot of attention has been paid to the occupancy challenges that seniors housing operators have faced since the COVID-19 pandemic began in early 2020. This blog focuses on the impact of the pandemic on occupancy by operator size. We conclude that single-property operators generally saw smaller occupancy declines during 2020 than very large operators. New supply, as well as pandemic-related changes in the rates of move-ins and move-outs, contributed to this disparity.
A frequent question NIC receives is how much seniors housing will be needed for tomorrow’s aging baby boomers. Using the most recent U.S. Census population projections, NIC has estimated the number of seniors housing units that will be needed through 2040. Since projections are as much art as they are science, we have also created a few scenarios that project needed new supply based on different penetration rates and different household age cohorts.