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, Virginia, Washington, D.C., and West Virginia.
- Northeast Region, encompassing markets across Connecticut, Massachusetts, Maine, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
- Southeast Region, encompassing markets across Alabama, Florida, Georgia, Mississippi, and Tennessee.
Our reports focus on data from the regions’ primary markets benchmarked against markets across 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:
- Construction inflation has largely stabilized, but ongoing pressure on material costs remains a consideration for project planning. With effective budgeting and proactive risk management supported by a trusted development advisor, organizations can help keep projects on track and within budget despite evolving market conditions.
- The East North Central Region independent living and assisted living occupancy rates continue to reach new highs as absorption steadily outpaces inventory growth in both segments. These trends reflect a healthy and active market, but owners and developers should continue to evaluate local market conditions, as demand can vary significantly by MSA and thoughtful planning is essential.
- The Mid-Atlantic Region’s independent living and assisted living occupancy rates continued to trend upward, with occupied units reaching new highs as absorption supported ongoing occupancy growth. Currently, there are 2,587 IL and 1,277 AL units under construction.
- In the Northeast Region, both independent living and assisted living occupied units have continued to climb, and assisted living absorption is outpacing inventory growth. Both independent living and assisted living occupancy in the Southeast Region remain just below the national averages. The region reported its highest levels of occupied IL units and the second highest in AL units since NIC MAP® 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.
