The rapid growth of the older population is a bright spot for growth in senior living. But will quality keep pace with this demographic growth? “The workforce is the key to the future,” said Fee Stubblefield, founder and CEO at The Springs Living. Based in McMinnville, Oregon, the company owns and operates 18 senior living communities in the Northwest. Two new developments are underway. “Solving the workforce challenge is the number one issue impacting the quality of senior housing,” he added.
The recently released NIC MAP® Data, powered by NIC MAP Vision, show that the seniors housing occupancy rate remained unchanged for the aggregated 31 NIC MAP Primary Markets in the second quarter of 2021. However, a recent analysis by NIC Analytics digs further and finds a substantial rise in the share of properties with increasing occupancy rates in 2Q2021.
NIC MAP Vision clients, with access to NIC MAP® Data, attended a webinar in mid-July on key seniors housing data trends during the second quarter of 2021. Findings were presented by the NIC Analytics research team. Key takeaways included the following:
The following analysis examines current conditions and year-over-year changes in inventory, occupancy, and same-store asking rent growth—by care segments within CCRCs (CCRC segments) compared to non-CCRC segments in freestanding or combined communities to focus a lens on the relative performance of care segments within CCRCs during the second quarter of 2021.