From NIC: Q1 Occupancy Remains Strong
(May 4, 2025) In an April 16th press release, the National Investment Center for Seniors Housing and Care (NIC) shared findings that occupancy across seniors housing providers continued to improve in the first quarter of 2025. NIC defines “seniors housing” as stand-alone independent living (IL), assisted living (AL), memory support, and/or Continuing Care Retirement Community (CCRC) settings only.
In this first quarter, combined occupancy rose by 0.3 percentage points to 87.4 percent across all settings. IL continued to outperform AL, with respective occupancy rates of 89 percent and 85.8 percent. AL ‘inventory growth’ (available units on the market) continued to outpace IL inventory growth for the second quarter in a row, although NIC stated that available inventory for both IL and AL remained at historic lows.
Lastly, there were four specific markets where, due to closures or unit conversion, seniors housing inventory shrank overall: San Antonio, TX; Riverside, CA; Pittsburgh, PA; and Sacramento, CA. A fair amount of the historic lows or shrinkage of investment across all settings and markets was attributed to delays in construction.
Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866