Good News for CCRCs from NIC

The National Investment Center for Seniors Housing & Care (NIC) has published promising findings regarding not-for-profit Continuing Care Retirement Communities (CCRCs) following a review of occupancy performance from the fourth quarter of 2022.

The report generally offers “good news” for LeadingAge members, as NIC found that CCRCs outperformed non-CCRCs in terms of occupancy and not-for-profit CCRCs fared better than for-profit CCRCs. In addition, entrance-fee CCRCs demonstrated stronger occupancy rates over CCRCs operating as rentals. The report also breaks down occupancy growth by region; both not-for-profit and for-profit occupancy in the Mid-Atlantic region were among the strongest in the nation.

Key takeaways as highlighted by LeadingAge National were that those communities that experienced the biggest declines in occupancy also showed the fastest recovery because those same communities also suppressed rates of growth or lowered their rates in order to recover occupancy more quickly. As an additional indicator of the model’s resiliency, the report shows that while for-profit CCRC inventory decreased, not-for-profit CCRC inventory remained stable or increased.

Read the full NIC report here.

Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866