Assisted Living Grows in Second Quarter 2014

New data released by the National Investment Center for Seniors Housing & Care Industry (NIC) reveals that assisted living inventory growth reached a historic high in the second quarter of 2014. According to NIC’s managing director and director of research and analytics, Chuck Harry, “… assisted living’s inventory grew by 3.1% and marks its fastest rate of growth ever within the NIC MAP® time series which dates back to 2007.”

NIC also found that the occupancy rate for assisted living properties averaged 89.0% in the second quarter of 2014, a small decrease compared to 89.1% from the previous quarter. However, the occupancy rate for assisted living is 2.4% points above its cyclical low. The report also provided occupancy rates, rent growth, annual absorption and annual inventory growth on independent living properties, combining findings with assisted living to determine senior housing trends. The nursing care occupancy rate was 88.2% in the second quarter of 2014, a decrease of 0.2 percentage points from the first quarter of 2013.