Senior living market trends can have a huge impact on your organization, especially as you plan for your future.
For our year-end publication, Plante Moran Living Forward is providing construction and senior housing market data in four regional reports:
- East North Central Region (i.e., the Midwest), encompassing markets across Michigan, Illinois, Indiana, Wisconsin, and Ohio
- Mid-Atlantic Region, encompassing markets across Kentucky, Maryland, North Carolina, South Carolina, and Virginia, as well as Washington, D.C.
- Northeast Region, encompassing markets across Connecticut, Massachusetts, Maine, New Jersey, Pennsylvania, and Rhode Island
- Southeast Region, encompassing markets across Alabama, Florida, Georgia, Mississippi, and Tennessee
Our reports focus on data from the regions’ primary markets benchmarked against comparable markets in the nation.
While these snapshots can help provide a pulse on the market, we encourage you to reach out to our team before you make any decisions about your plans for growth or repositioning. Your local market, the condition of your assets, your strategic plan, and your operational health should all be considered holistically.
Highlights from the year-end Market Snapshot reports
- Across the nation, construction and material costs have largely normalized, although tariffs could still lead to material price increases. Meanwhile, the volume of new units under construction continues to rise across all regions. As absorption begins to slow, the market may experience a noticeable decline in occupancy in the coming quarters. Effective budgeting and proactive risk management supported by a trusted development advisor can help keep projects on track and within budget despite these shifting conditions.
- The East North Central Region’s independent living and assisted living occupancy rates have continued to climb as absorption consistently outpaces inventory growth. The combination is a positive indicator of market vitality, but owners should be careful to evaluate their local markets, as senior living demand can vary by locality.
- The Mid-Atlantic Region’s occupied units and occupancy metrics continue to trend upward as absorption keeps pace with inventory growth. With a strong pipeline of new construction on the horizon, a market study will be key to avoiding overbuilding in specific MSAs.
- In the Northeast Region, both independent living and assisted living occupancy have continued to climb, and absorption is outpacing inventory growth. These metrics indicate market vitality, but a market study will be key to avoid overbuilding in specific MSAs.
- Both independent living and assisted living occupancy in the Southeast Region remain just below the national averages. The region reported its highest number of occupied independent living and assisted living units since NIC MAP® Vision Data Service began tracking this data.
Read the full market report for more senior housing market trends
Download the year-end reports for insights into each region’s senior housing supply, demand, and construction trends.
