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

'Minor' issues at the nursing home can cause disastrous care transitions, expert warns

'Minor' issues at the nursing home can cause ...

What may appear to be minor administrative problems in a nursing home - a fax machine locked away at night or no one designated to copy paperwork - can cause ...

Long-term care facilities approach 80% worker flu vaccination rate after handing power ...

Fourteen long-term care facilities in Pennsylvania dramatically increased their staff flu vaccination rate by having a regional pharmacy take over the process, according to a report issued Thursday by the Agency for Healthcare Quality and Research (AHQR).

RACs were 'most improved' healthcare auditors for getting back money in 2013, ...

Medicare Recovery Audit Contractors dramatically stepped up their overpayment recoveries last year, returning nearly $487 million more to the government than they did in 2012, according to a new report from a federal watchdog agency.