Assisted Living occupancy dips to lowest level since 2010
Occupancy rates fell throughout most senior living sectors during Q1 2017 to an average of 89.3 percent, according to the latest data from the National Investment Center for Seniors Housing & Care (NIC).
Independent living occupancy dipped by 0.2 percentage points to 90.9 percent, while assisted living occupancy was 87.2 percent, about 0.5 percentage points lower than the last quarter of 2016.
Not all senior housing sectors were down this quarter, however. The occupancy rates in the skilled nursing sector rose to 87.2 percent this quarter from 86.8 percent at the end of 2016, thanks in part to an inventory growth rate of almost zero in this sector.
Meanwhile the annual inventory growth rate across all senior housing sectors increased slightly to 3.4 percent this quarters. New construction in Q1 2017 began on 2,845 units, split nearly evenly between independent living and assisted living.
Pamela Tabar was editor-in-chief of I Advance Senior Care from 2013-2018. She has worked as a writer and editor for healthcare business media since 1998, including as News Editor of Healthcare Informatics. She has a master’s degree in journalism from Kent State University and a master’s degree in English from the University of York, England.
Topics: Executive Leadership , Finance