Senior living market trends can have a huge impact on your organization, especially as you plan for your future.
For our mid-year 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 mid-year Market Snapshot reports:
- Construction material prices remain elevated across the nation, and coupled with higher interest rates, are leading to more expensive projects.
- Moderate inventory growth is likely keeping the East North Central Region’s supply in line with demand, as occupancy in independent and assisted living continues to increase.
- The Mid-Atlantic Region’s occupied units remain at an all-time high. Absorption has picked back up again after slowing down during the pandemic.
- Occupancy in the Northeast Region has been steadily increasing since 2021. The independent living occupancy is currently above national averages, while the assisted living occupancy is just below.
- For the Southeast Region this quarter, independent living lost inventory while assisted living had another strong quarter. Absorption was strong for both product types this quarter, contributing to the increases in occupancy.
Read the full market report for more senior housing market trends
Download the mid-year reports for insights into each region’s senior housing supply, demand, and construction trends.
