NIC Notes

Insights in Seniors Housing & Care

Market Trends  |  NIC MAP Vision  |  Senior Housing

New Metric: Absorption-to-Inventory-Growth Ratio for Senior Housing Reached New High in 2Q 2023

By: Omar Zahraoui  |  July 06, 2023

Strong Demand Has Provided a Stable Foundation for Senior Housing Occupancy Recovery. According to second quarter 2023 NIC MAP® data, released by NIC MAP Vision, senior housing demand, as measured by the change in occupied units, continued to outpace new supply, marking its ninth consecutive quarter of growth with a net

Market Trends  |  NIC MAP Vision  |  Senior Housing  |  memory care

Memory Care – An In-Depth Analysis of the Sector’s Standing and Dynamics

By: Omar Zahraoui  |  June 15, 2023

According to estimates derived from an analysis released by NIC Analytics in 2022, approximately one in nine Americans aged 65 and older, totaling 6.5 million individuals, are affected by Alzheimer’s or other dementias. The analysis further indicated that the prevalence increased with age, with higher ratios observed in older age cohorts. By projecting the findings to 2030, NIC Analytics estimated that around 8.2 million Americans will be living with Alzheimer’s or other forms of dementia just seven years from now. These estimates highlight the importance of providing tailored and innovative care and support to meet the growing demand for specialized memory care services.

Business Environment  |  Executive Survey Insights  |  Market Trends  |  Senior Housing

Executive Survey Insights | May 2023

By: Ryan Brooks  |  June 13, 2023

“A new series of questions in the May 2023 survey, suggested by April 2023 ESI survey participants, asked about the utilization of third-party referral aggregators. Of respondents who are currently using third-party aggregators, almost two-thirds (64%) successfully convert less than 25% of the third-party generated leads.

Market Trends  |  NIC MAP Vision  |  Senior Housing  |  occupancy

Narrowing Gap in Senior Housing Stabilized and All Occupancy Rates Reflects Competition Between New and Existing Properties

By: Omar Zahraoui  |  June 08, 2023

The senior housing stabilized occupancy rate for the NIC MAP Primary Markets edged up to 84.7% in the May 2023 reporting period, up 0.1 percentage points (pps) from the April 2023 reporting period on a three-month rolling basis, according to intra-quarterly NIC MAP® data, released by NIC MAP Vision. From its pandemic record low of 80.3% in June 2021, senior housing stabilized occupancy increased by 4.4pps but remained 4.7pps below pre-pandemic March 2020 levels of 89.4%.