Assisted living fundamentals softened in 1Q13 | I Advance Senior Care Skip to content Skip to navigation

Assisted living fundamentals softened in 1Q13

April 26, 2013
by National Investment Center for the Seniors Housing & Care Industry
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The recovery in assisted living occupancy stumbled, as occupancy declined for the first time in two years. In the first quarter of 2013, assisted living occupancy was 88.8  percent, which is a decrease of 20 basis points from the prior quarter and an increase of 50 basis points from a year earlier. Absorption remained positive, although slowed from its recent pace. The number of occupied units increased by 0.3 percent in first quarter 2013, which was down from its 0.9 percent pace in the prior quarter. Inventory grew by 0.5 percent during the first quarter and, based on current construction, is likely to begin modestly accelerating.

The pace of year-over-year asking rent growth during the first quarter remained positive at 2.4 percent, which is an increase of 40 basis points from that of the fourth quarter. As of first quarter 2013, the asking monthly rent for assisted living properties within the top 31 metropolitan markets averaged $3,671.


Chart Source: NIC MAP® Data & Analysis Service