Senior Housing News January 3, 2025
Independent living operators picked up the pace of resident rent growth in the third quarter of 2024 after a period of deceleration earlier in the year.
independent living initial rates were 12.2% higher in September, 2024 than in the same period one year prior, according to a new analysis from the National Investment Center for Seniors Housing and Care (NIC). That represents a “sharp rebound” from June, when independent living resident rates were slightly lower than in the previous year. Additionally, in-place rates grew 9.8% and asking rates grew 8.9% compared with the year prior.
Independent living properties also “experienced a notable decline in discounting” during that period, according to NIC. Initial rates in September 2024 were around $319 below...
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