NIC Notes

Insights in Seniors Housing & Care

Economic Trends  |  NIC MAP Vision  |  Senior Housing  |  occupancy

State of Senior Housing: The Trifecta Shaping the Occupancy Recovery

By: Omar Zahraoui  |  September 12, 2022

During four consecutive quarters of increasing occupancy, from 78.0% in the second quarter of 2021 to 81.4% in the second quarter of 2022, the NIC MAP® Primary Markets recovered about 37% of the senior housing occupancy lost during the pandemic, equivalent to 3.4 percentage points (pps) overall.

Business Environment  |  CCRC  |  Market Trends  |  NIC MAP Vision  |  Senior Housing

CCRC Care Segment Performance 2Q 2022

By: Omar Zahraoui  |  August 18, 2022

The following analysis examines occupancy and year-over-year changes in inventory, and same-store asking rent growth—by care segment—within CCRCs and non-CCRCs in the 99 combined NIC MAP Primary and Secondary Markets. The analysis also highlights occupancy by payment type (entrance fee CCRCs vs. rental CCRCs), and the relative performance of for-profit CCRCs and not-for-profit CCRCs during the second quarter of 2022—by region.

Senior Housing  |  Skilled Nursing  |  Workforce

State of the Nursing Labor Market in Senior Living and Adjacent Healthcare Industries

By: Omar Zahraoui  |  July 22, 2022

2021 Occupational Employment and Wage Statistics: Labor Concentration and Complimentary State Level Report. In a NIC Notes blog published June 23, 2022, NIC Analytics examined jobs in the skilled nursing and senior housing sectors by looking at employment patterns since March 2020. The analysis included insights on workforce contraction and recovery in the sectors, as well as wage increases, compared with other adjacent healthcare industry groups. The blog provided context on jobs and wages for all employees within select healthcare industry groups.

Market Trends  |  NIC MAP Vision

Senior Housing Recovery Regained Pace in Second Quarter 2022

By: Omar Zahraoui  |  July 08, 2022

Senior housing occupied units vacated during the pandemic are on track for full recovery, across both the NIC MAP Primary Markets and the NIC MAP Secondary Markets. Senior housing occupancy bouncing back but remains far below pre-pandemic March 2020 levels. The senior housing market continued to experience a high acuity trend, with occupancy for majority assisted living properties recovering relatively fast compared with majority independent living properties. According to just released quarterly NIC MAP Vision data, the recovery for senior housing regained pace in the second quarter of 2022 after the momentum weakened in the prior quarter due to the Omicron variant. The graphs below depict the recovery progress for senior housing demand and occupancy for both the NIC MAP Primary Markets (Primary Markets) and the NIC MAP Secondary Markets (Secondary Markets).