Nov
02

Senior Housing Occupancy on the Rise

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NIC MAP has published 3Q11 NIC MAP reports and data.

Stronger absorption drove occupancy for seniors housing up to 88.1% in 3Q11. The occupancy rate, which now has risen for six consecutive quarters, rose 20 basis points from 2Q11 and is 100 basis points above its cyclical low of 87.1% in 1Q10.

The occupancy rate for independent living properties in 3Q11 was 87.9%, and the occupancy rate for assisted living properties was 88.6%. Both property types showed improvement from the 2Q11 occupancy rates of 87.5% and 88.5%, respectively.

“With occupancy having risen each quarter since 1Q10, it is evident that we are past the bottom and are clearly in the recovery stage,” says Michael Hargrave, vice president – NIC MAP.

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