“NIC: Assisted Living Occupancy Plummets to Record Low,” by Mary Kate Nelson, Senior Housing News
“Assisted living occupancy is continuing to fall nationwide, according to data released Wednesday by the National Investment Center for Seniors Housing & Care (NIC). The average occupancy rate for assisted living properties across the country fell to 86.5% in the second quarter of 2017. That’s 0.7 percentage points lower than the average occupancy rate in the first quarter of 2017, and 1.4 percentage points lower than the average occupancy rate recorded a year earlier. The second quarter’s average assisted living occupancy rate is also tied for the lowest ever, which occurred in the second quarter of 2009, according to NIC.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
If you build it, will they come? Probably just the market sorting out age-wave demand, but this shows profitability has no guarantee.