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
Americas 100 largest
metro markets. The NIC MAP comprehensive 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.
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for more information on NIC MAP® or contact Michael Hargrave at 410-267-0504 or
mhargrave@nic.org.
What is the total national number of facilities/properties in seniors housing and long term care?
NIC National Supply Estimate of Seniors Housing & Care Properties
enumerated a total of 46,131 seniors housing properties with supportive services in the United States
with a capacity to hold more than 3.4 million seniors as of 1999-2000. Of these 46,131 properties (3,411,891
beds), 50 percent were assisted living communities, 34 percent were nursing facilities, 7% were independent
living communities, 4% were continuing care retirement communities (CCRCs), and 5% offered a combination
of property types. Seniors apartments (that is, seniors housing properties without supportive services)
were estimated at 11,726 properties and 821,173 units.
Size, Scope, and Performance of the Seniors Housing Industry + 2004 Update
estimated 33,000 market rate professionally managed properties (independent living, assisted living,
nursing homes, and CCRCs) with a capacity to hold 3,675,000 seniors.
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 Analyis 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 avauilable on the Provider magazine web site).
To find a lender who is active in providing financing to the industry, see the
Lender Locator
section.
Where can I find a listing of seniors housing and care facilities?
- The American Association of Homes and Services for the Aging (AAHSA), in collaboratioin 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 metro 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 Communities: 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. There are no licensed skilled nursing
beds in the property.
- Assisted Living Residences: 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. A property that specializes in the care of residents with
Alzheimer’s or other forms of dementia that is not a licensed nursing facility should be considered
an assisted living property.
- Nursing Homes: 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 assisted living and/or Alzheimer’s/dementia
units.
- CCRCs: Age-restricted properties that include a combination of independent living,
assisted living and skilled nursing services (or independent living and skilled nursing) available to
residents all on one campus. Resident payment plans vary and include entrance fee, condo/coop and rental
programs. The majority of the units are not licensed skilled nursing beds.
Where can I find regional data regarding the distribution of properties?
- The NIC MAP® Data and Analyis Service provides data on the 100 largest metro 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 facilities.
- www.nicmap.org tracks absorption on a quarterly basis for the 31 largest
metro markets.
- The Case for Investing in Seniors Housing and Care Properties (2001) provides estimates of demand
for independent living, assisted living properties, and skilled nursing facilities 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 the communities. 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 Key Financial Indicators 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 and capitalization rates?
- Historical data on occupancy and capitalization rates dating back to the 3rd quarter of 1999 can be
located in the Executive Circle portion of the NIC web site.
- NIC MAP® trends occupancy rates for IL, AL, Dementia and Nursing Care for each of the top 31 metro markets,
246 submarkets, 8 regions and 31 metro-wide.
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.
CLICK HERE to order some of the various
publications mentioned above.
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