Frequently Asked Questions
What is NIC MAP®
NIC MAP
is the seniors housing & care industry's leading data provider, tracking revenue, occupancy, supply, and construction data
in the 100 largest metro markets in the United States. The NIC MAP database includes over 12,300 market rate seniors housing
and nursing care properties.
NIC MAP data and analytics provide the foundation for smarter investment decisions by providing valuable market data to
owner/operators, lenders/investors, market consultants, and appraisers allowing them to effectively compete in our changing
marketplace by identifying new opportunities and managing risk. For more information visit the NIC MAP website or contact Michael
Hargrave at 410-267-0504 or mhargrave@nic.org
What is the total national number of properties in seniors housing and long term care?
The NIC Investment Guide 2010 enumerated a total of 21,130 seniors housing and care properties in the United States with
a unit capacity of nearly 2.8 million as of 2009Q4. This is representative of properties with at least 25 units/beds that
charge market rates for the housing and services offered.
Where can I find a list of managers, operators, providers, or lenders involved with the seniors housing and care industry?
- Subscribers to the NIC MAP® Data and Analysis Service receive access to supply and construction data (for the markets they
subscribe to) which lists properties, as well as corporate owners and operators.
- The National Real Estate Investor magazine (September 2009) in conjunction with the American Seniors Housing Association
has lists of the largest 50 owners and the largest 50 managers in seniors housing.
- Published by ALFA (Assisted Living Federation of America), Assisted Living Executive magazine (March/April 2009) has a listing
of the largest 50 assisted living providers.
- Billians Health Data maintains a yearly list of nursing home and assisted living chains.
- Provider magazine (June 2009) lists the largest 40 assisted living chains and largest 50 nursing facility chains also available
on the Provider magazine web site).
To find a lender who is active in providing financing to the industry, see the Lender Locator on the NIC website.
Where can I find a listing of seniors housing and care properties?
- The American Association of Homes and Services for the Aging (AAHSA), in collaboration with Ziegler, publishes a directory
of the 100 largest not-for-profit senior living organizations.
- Billians Health Data maintains a yearly list of nursing homes and assisted living properties.
- A listing of market rate properties within the 100 largest metropolitan markets can be purchased at www.nicmap.org.
What are the classifications for Seniors Housing Property Types?
The following classifications have been endorsed by the American Association of Homes & Services for the Aging (AAHSA);
American Health Care Association (AHCA); American Seniors Housing Association (ASHA); Assisted Living Federation of America
(ALFA); National Center for Assisted Living (NCAL); and the National Investment Center for the Seniors Housing & Care Industry
(NIC).
- Active Adult Communities: For-sale single-family homes, townhomes, cluster homes, mobile homes and condominiums with no
specialized services, restricted to adults at least 55 years of age or older. Rental housing is not included in this category.
Residents generally lead an independent lifestyle; projects are not equipped to provide increased care as the individual
ages. May include amenities such as clubhouse, golf course and recreational spaces. Outdoor maintenance is normally included
in the monthly homeowner's association or condominium fee.
- Senior Apartments: Multifamily residential rental properties restricted to adults at least 55 years of age or older. These
properties do not have central kitchen facilities and generally do not provide meals to residents, but may offer community
rooms, social activities, and other amenities.
- Independent Living Properties: Age-restricted multifamily rental properties with central dining facilities that provide
residents, as part of their monthly fee, access to meals and other services such as housekeeping, linen service, transportation,
and social and recreational activities. Such properties do not provide, in a majority of the units, assistance with activities
of daily living (ADLs) such as supervision of medication, bathing, dressing, toileting, etc.
- Assisted Living Properties: State regulated rental properties that provide the same services as independent living communities
listed above, but also provide, in a majority of the units, supportive care from trained employees to residents who are
unable to live independently and require assistance with activities of daily living (ADLs) including management of medications,
bathing, dressing, toileting, ambulating and eating. These properties may have some nursing beds, but the majority of units
are licensed for assisted living. Many of these properties include wings or floors dedicated to residents with Alzheimer’s
or other forms of dementia.
- Nursing Properties: Licensed daily rate or rental properties that are technically referred to as skilled nursing facilities
(SNF) or nursing facilities (NF) where the majority of individuals require 24-hour nursing and/or medical care. In most
cases, these properties are licensed for Medicaid and/or Medicare reimbursement. These properties may include a minority
of independent living, assisted living and/or memory care units.
- CCRCs: Age-restricted properties that include a combination of independent living and nursing care available to residents
all on one campus. Resident payment plans vary and include entrance fee, condo/coop and rental programs.
Where can I find regional data regarding the distribution of properties?
- The NIC MAP® Data and Analysis Service provides data on the 100 largest metropolitan markets for seniors housing and nursing
care properties.
What are the demographics of the aging population, and how does that affect demand?
- The NIC National Housing Survey of Adults Age 55+ surveyed 1,600 households whose head of household was 55 years of age
or older and reported demographics of this sample included geographic distribution, net worth, education, and required assistance
with activities of daily living. Also reported are the proportion of people living in seniors housing, the proportion aware
of seniors housing, and the attitudes regarding seniors housing properties.
- www.nic.org tracks absorption on a quarterly basis for the 100 largest metro markets.
- The Case for Investing in Seniors Housing and Care Properties (2001) provides estimates of demand for independent living,
assisted living, and nursing care properties from a structural demand model constructed by PriceWaterhouse, which takes
into account population, disability, income, and home ownership.
- Demographic information regarding total population is also available through the United States Census Bureau.
What are the demographic profiles of residents who currently reside in seniors housing and long term care facilities?
- The National Survey of Assisted Living Residents: Who is the Customer? is an extensive study examining the demographics
of assisted living residents, as well as features of those properties. Results include basic demographics, health and disability
assessments, sources of payments, needs for assistance with activities of daily living, and community satisfaction. In addition,
the NIC Income Confirmation Study of Assisted Living Residents and the 75+ Population was a follow-up study and confirmed
that approximately two-thirds of assisted living residents have annual incomes below $25,000.
- Understanding Seniors Housing Demand, Choices, and Behavior: Insights From the AHEAD and HRS Studies provides investors
and operators with a range of insights into the decision-making process, preferences and experiences of seniors when they
consider moving to new housing. The report utilizes data from the University of Michigan Health and Retirement Survey (HRS)
and a companion study, the Asset and Health Dynamics Among the Oldest Old (AHEAD). NIC conducted an in-depth analysis –
from a seniors housing perspective – of 13,000 households and more than 22,000 occupants that were included in the University
of Michigan studies. Interviewed every two years, residents answered questions on topics such as health, living environments,
housing expenses, and sources of personal income.
- The 2009 - Independent Living Report, published by ASHA is compiled from a study of residents in nearly 200 independent
living communities, provides demographic information about the residents and resident services, and resident opinions on
their communities.
- The 2009 Overview of Assisted Living a collaborative research project of AAHSA, ASHA, ALFA, NCAL & NIC, provides data about
assisted living communities such as payment plans, resident demographics and ADL needs, services offered, and staffing levels.
Where can I find a list of resources, books, articles, and/or statistics regarding the seniors housing and care industries?
Where can I find the Seniors Housing Prospect Qualifying Instrument?
The NIC National Housing Survey of Adults Age 60+ has an instrument that contains a series of 18 components with a strong
relationship to the probability of moving to seniors housing communities which contain supportive services.
What are the typical fees, expenses, financial and operating benchmarks for a seniors housing or long term care property?
- Net operating income, operating highlights, and annual operating expenses can be found in The State of Seniors Housing produced
annually by ASHA, NIC and PWC.
- The 2005 Continuing Care Retirement Communities Profiles produced by AAHSA, ASHA, NIC and UBS provides benchmarks for CCRCs.
What are some of the financing trends in the industry?
NIC MAP Industry Trends include loan volumes, loan performance, and capitalization rates.
Financing trends can be found in the 2003 Lender and Equity Investor Surveys. Results include loan amounts, types of projects
financed, loan terms, interest rates, spreads, and yields.
Where can I find education and training programs for developing, financing and managing long term care properties?
The Erickson School of Aging Studies at UMBC breaks new ground by connecting the brainpower of a leading research university
with the practical expertise and knowledge of seniors housing and aging services leaders nationwide. Established through
a visionary gift from Erickson Retirement Communities' founder and CEO John Erickson, the School provides executive development,
public policy leadership, and applied and investigative research related to senior care and aging. Undergraduate and graduate
level programs are also offered.
Where can I find historical data on occupancy?
- NIC MAP® trends occupancy rates for independent living, assisted living, and nursing care properties for each of the top
31 metropolitan markets.
Where can I find detailed information on acquisitions in the senior housing & care industry?
Information on past acquisitions can be found in The Senior Care Acquisition Report, which is published annually by Irving
Levin Associates, Inc. This report provides information for independent living, assisted living, and nursing care properties
on key statistics such as average price per bed/unit and other valuation tools.
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