Occupancy rate stays stable for skilled nursing, drops for assisted livingThe average skilled nursing occupancy rate held steady, while rates for assisted living and independent living fell noticeably. That is according to the National Investment Center for the Seniors Housing and Care Industry's Market Area Profiles (NIC MAP) statistics released Thursday.
Skilled nursing occupancy held at 90.1% for the second quarter of 2008, compared with 90.7% for the first quarter of 2007. Meanwhile, the assisted living occupancy rate slid from a peak of 91.5% in the first quarter of 2007 to 89.8% in the second quarter of 2008, continuing a consistent downward path, according to MAP officials at the annual meeting of NIC in Chicago.
Independent living's occupancy rate also decreased from a high of 93.8% in the first quarter of last year to 91.4% in the second quarter of 2008, a sign that supply had grown faster than demand. A crowd of 1,600 attended the 18th annual NIC conference, which was held at the Sheraton Chicago Hotel and Towers.