Assisted Living Occupancy Drops to Record Low
On July 17, 2018 by Jodi Boyne
The downward trend in assisted living occupancy continues, according to data released by the National Investment Center for Seniors Housing & Care (NIC).
As reported by McKnight’s Senior Living, the data showed the occupancy rate for assisted living has fallen lower than last quarter’s record low average – from 85.7 percent to 85.2 percent. The rate was the lowest since NIC began reporting the data in 2005.
According to NIC, the senior housing occupancy rate has trended downward over the past 10 quarters, which is only two quarter short of its 12-quarter downturn during the Great Recession. The latest data from NIC also shows record growth in inventory, with more than 4,400 units coming online.
For more information, read Assisted Living Occupancy Drops to Record Low in Second Quarter in McKnight’s Senior Living.