Senior Housing News January 16, 2025
Senior living demand “surged” in the fourth quarter 2024, pushing the industry to a higher average occupancy rate and a new record number of occupied units.
Average occupancy rates in the 31 primary NIC primary markets rose to 87.2% in the fourth quarter of 2024, representing a gain of 0.7% from an average rate of 86.5% in the third quarter of the year, according to the latest occupancy report from the National Investment Center for Seniors Housing and Care (NIC). Occupancy in all of the primary markets registered higher than it did just before the Covid-19 pandemic in 2020.
Additionally, the total number of occupied senior living units reached a record high of 618,000 in the fourth quarter of 2024,...
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