Guess Which Segment of the Senior Living Market is Experiencing the Largest Growth…

I was a bit surprised to read an article this month reporting that Continuing Care Retirement Communities (CCRCs), also known as Life Plan Communities, are experiencing not just growth in occupancy over the last 12 months, but comprise “the only segment of senior living and long-term care to see increased occupancy in 2018.”  Lois Bowers, senior editor at McKnight’s Senior Living provides the summary of the study:  

The stabilized occupancy rate for CCRCs has increased 30 basis points to 91.5% over the past 12 months and has stayed in the low 90s for the past 10 years, according to the company’s senior housing research national report for the first half of 2018.

 

“Rent growth remains strong, with the average advancing 3.2 percent to $3,322 per month in 2018,” the authors wrote about CCRCs, also known as life plan communities.

 

Independent living is the big draw in these communities, where many operators are reducing the number of skilled nursing beds, according to the report.

For more, read CCRCs Alone in Occupancy Increase This Year, Report Says.