Assisted living construction concentrated in select markets
As of the second quarter of 2012, construction in assisted living properties represented 3.0 percent of existing assisted living inventory within the top 31 metropolitan markets. Construction activity as a percent of existing inventory did dropped as low as 2.1 percent in early 2010.
Within the top 31 metropolitan markets, 14 markets had construction activity representing more than 3.0 percent of existing inventory. As compared to existing inventory, Houston had by far the highest level of construction activity at 13.1 percent, which represented 630 units. St. Louis had the second highest level of construction at 8.4 percent of existing inventory, which represented 271 units.
The five markets with the most units under construction (Houston, Dallas, Chicago, Atlanta, and Boston) represented 44.5 percent of the total assisted living construction in the top 31 metropolitan markets.
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