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100 senior living market studies reveal these trends

May 5, 2015 / 2 min read

A thorough market study is the best way to ensure your development will be successful before you break ground or expand. Plante Moran Living Forward has closely examined 100 senior living markets across the country and shares the trends we discovered.

Plante Moran Living Forward (PMLF) announces the completion of its 100th senior living market study. Launched in early 2015, PMLF brings together a group of Plante Moran professionals who have decades of financial, market, and operational expertise in health care and senior living with their real estate and development colleagues at Plante Moran Cresa.

Twenty-year senior living expert Sally Heffernan, CPA, CMA, has closely examined 100 senior living markets across the country, from Minnesota to Florida and Washington to Virginia.

“Our process answers the question, ‘Does this investment make economic sense?’” said Heffernan. “It’s a ‘boots on the ground’ research and analysis that looks beyond just quantitative demand estimates from secondary sources, and instead calculates current economic conditions based on extensive on-site research of existing services and price points.”

Demand for senior living is strong with the baby boomer generation beginning to turn 70 years old this year, and because of this, PMLF is seeing the following trends:

According to PMLF President Pat McCormick, healthcare revitalization is redefining senior housing.“The market is seeing very engaged buyers, which is a huge shift from the former price-insulated consumers with limited choices,” he said.

Vice President Dana Wollschlager added, “Healthcare reform still leaves operators uncertain. Decreasing reimbursements, increasing operating costs, and changing regulations increase costs are on one side. On the other, consumers are demanding more. It’s a balance, and with the sheer number of seniors needing housing and services, a thorough market study is the best way to ensure your development will be successful before you break ground.”

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