Market Trends | NIC MAP Vision | Senior Housing
By: Lisa McCracken | January 02, 2024
We are all well-aware of the demographic trends unfolding in the U.S. In 2025, the first Baby Boomers will turn 80. Are we prepared for the implications of the aging population and is there enough supply to meet the demand for senior housing & care in the years ahead? Calculations by NIC MAP Vision project the need for an additional 200,000 senior housing units by 2025.
Market Trends | NIC MAP Vision | Senior Housing
By: Omar Zahraoui | December 21, 2023
The tendency of stability is to breed stability.
Business Environment | Market Trends | NIC MAP Vision | Senior Housing
By: Omar Zahraoui | December 18, 2023
The construction of senior housing communities has faced a myriad of challenges in recent years, evidenced by a marked decline in construction starts and extended construction durations. These challenges have been apparent since the onset of the COVID-19 pandemic, and have been further compounded by labor shortages, a lack of building materials, and inflation. Additionally, the quick and large rise in interest rates orchestrated by the Federal Reserve has led to higher construction financing costs, limited availability of debt, and increased development costs. These combined factors have prolonged the time it takes to bring a senior housing project from the planning stages to the construction phase and eventually to its final delivery and eventual opening.
Actual Rates | Market Trends | NIC MAP Vision | Senior Housing
By: Omar Zahraoui | December 15, 2023
Data from the recently released 3Q 2023 NIC MAP Vision Actual Rates Report showed that the pace of growth in all rates for all care segments (independent living, assisted living, and memory care) maintained near record highs observed since the onset of 2023 for the data contributors to this data collection. In the recently released report, monthly data of actual rates and leasing velocity are presented
