Senior housing market sees slow recovery, report finds

Share this article:

Although construction of senior living housing has continued its decline, occupancy rates grew slightly in the fourth quarter of 2011, a new report shows.

Occupancy rates at assisted living facilities and nursing facilities remained relatively flat compared to the previous quarter, according to NIC MAP, a data analysis service of the National Investment Center for the Seniors Housing & Care Industry. The average occupancy rate for assisted living facilities was 88.6% in the third quarter, with no change from the previous quarter. For nursing facilities, the average occupancy rate was 88.2%, for a decline of 0.1 percentage points from the third quarter. Only independent living showed growth, increasing .2 percentage points.

"With occupancy continuing to rise, it is clear the recovery is underway, however, independent living has been driving much of the occupancy gains in recent quarters," said NIC MAP Vice President Michael Hargrave.

Click here for more information on the report.

Share this article:

More in News

Breier named new CEO at Kindred

Breier named new CEO at Kindred

Kindred Healthcare announced Thursday that it has chosen a new top executive to lead its push toward creating a mammoth national brand. Benjamin A. Breier, the company's current president and ...

Proposed managed care rule could accelerate shift away from nursing home care, official suggests

Proposed managed care rule could accelerate shift away ...

Proposed regulations slated for early 2015 likely will affect how Medicaid managed care balances home- versus facility-based long-term care, news sources reported Wednesday.

Assisted living residents say 'homelike' setting not so important

Contrary to conventional wisdom, assisted living residents might not place a high value on how "homelike" their surroundings are, suggest findings out of St. Catherine University in St. Paul, MN.