Senior living market trends can have a huge impact on your organization, especially as you plan for your future.
For our mid-year publication, Plante Moran Living Forward is providing construction and senior housing market data in four regional reports:
- East North Central Region (i.e., the Midwest), encompassing markets across Michigan, Illinois, Indiana, Wisconsin, and Ohio
- Mid-Atlantic Region, encompassing markets across Kentucky, Maryland, North Carolina, South Carolina, and Virginia, as well as Washington, D.C.
- Northeast Region, encompassing markets across Connecticut, Massachusetts, Maine, New Jersey, Pennsylvania, and Rhode Island
- Southeast Region, encompassing markets across Alabama, Florida, Georgia, Mississippi, and Tennessee
Our reports focus on data from the regions’ primary markets benchmarked against comparable markets in the nation.
While these snapshots can help provide a pulse on the market, we encourage you to reach out to our team before you make any decisions about your plans for growth or repositioning. Your local market, the condition of your assets, your strategic plan, and your operational health should all be considered holistically.
Highlights from the mid-year Market Snapshot reports
- Across the nation, construction and material costs continue to rise. Concerns about inflation and tariffs are adding to financial uncertainty. Effective budgeting and risk management with the help of a trusted development advisor can help keep projects on track and within budget.
- The East North Central Region’s independent living and assisted living occupancy rates have continued to climb as absorption consistently outpaces inventory growth. The combination is a positive indicator of market vitality, but owners should be careful to evaluate their local markets, as senior living demand can vary by locality.
- The Mid-Atlantic Region’s occupied units and occupancy metrics continue to trend upward as absorption outpaces inventory growth. With a strong pipeline of new construction on the horizon, a market study will be key to avoiding overbuilding in specific MSAs.
- Occupancy in the Northeast Region has been steadily increasing since 2021, with a dramatic recovery and improvement especially evident in assisted living. IL’s occupancy has tapered somewhat as inventory growth and absorption waned over the last two quarters.
- Both independent living and assisted living occupancy in the Southeast Region remain just below the national averages, but the region reported its highest number of occupied independent living and assisted living units since NIC MAP® Vision Data Service began tracking this data.
Read the full market report for more senior housing market trends
Download the mid-year reports for insights into each region’s senior housing supply, demand, and construction trends.
