Occupancy rates remain stable in eldercare facilities, data shows
Second quarter occupancy rates in the seniors housing sector remained identical to a year ago — 88%. But rent growth showed a slight improvement, according to data released Wednesday by the National Investment Center for the Seniors Housing & Care Industry.
Within the sector, nursing facility occupancy rates were 88.4%.That marked a slight downturn from the 88.5% total recorded in the first quarter. Annual inventory growth was -0.1% in the second quarter, reflecting a trend toward declining inventory growth. Meanwhile, second-quarter assisted living occupancy was 88.5%, up slightly from 88.4% in the previous quarter."While occupancy rates are currently trending sideways, they have moved from beyond their recent cyclical lows," said Charles Harry, director of research and analysis with NIC.