Rents increased in nursing homes, independent living facilities, NIC quarterly data shows

Share this article:
Rents increased in nursing homes, independent living facilities, NIC quarterly data shows
Rents increased in nursing homes, independent living facilities, NIC quarterly data shows

Nursing homes' private pay rents increased in the fourth quarter of 2013, but independent living rents showed the biggest uptick in the seniors housing sector, according to data from the National Investment Center for the Seniors Housing & Care Industry.

In the nursing care sector, private pay rates increased 2.9% from 2012 levels, NIC reported in quarterly figures released Friday. Occupancy increased from 87.6% in the third quarter to 87.9%.

For seniors housing as a whole, rent growth remained stable during the quarter, noted Chuck Harry, NIC managing director and director of research and analytics. Independent living led the pack, while assisted living was a laggard.

“Annual rent growth in independent living properties accelerated by 20 basis points, while the pace of annual rent growth in assisted living properties slowed by 30 basis points,” said Harry.

Fourth quarter occupancy for seniors housing properties reached 89.7%, up slightly from the third quarter and 2.8 percentage points above a cyclical low recorded during the first quarter of 2010.

Construction activity slowed, with a “modest decline” in starts, but it is too soon to tell whether this indicates a trend or a “one-quarter aberration,” Harry said.

Harry will be a featured presenter at the 2014 McKnight's Online Expo. He will discuss where operators are finding capital, in a webinar on March 27, at 11 a.m. Eastern. More information about registration and continuing education credits soon will be available at www.mcknights.com.

Share this article:

More in News

Profile: AHCA's money player

Profile: AHCA's money player

If there's a prevailing theme around the hours American Health Care Association senior fellow Elise Smith keeps, it's that they are constant.

Residents cheer tractor parade

Residents cheer tractor parade

Many residents of the Oskaloosa Care Center in southern Iowa used to be farmers. They're reminded of their past by the cornfield next to the nursing home — and, once ...

No need for injury

No need for injury

Due to dynamic factors in moving residents, facilities must invest wisely in lifts, slings and batteries to make sure workers stay safe while performing transfers