Benchmark data can inform project projections
By Lana Peck, Anne Standish and Beth Mace
Among the many factors that determine the profitability of a project is the pace of initial move-ins or leasing momentum. A well-located and rapidly leased-up project can build forward momentum for steady demand, high occupancy and solid revenue growth, and build a strong reputation in the…
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Supply and demand more balanced; occupancy sustained above 90%
In the first quarter of 2018, among the 31 primary markets tracked by NIC MAP, independent living had an occupancy rate of 90.3%, which was about 70 basis points less than stabilized occupancy. Comparatively, assisted living had a differential of 230 basis points, more than three times as large since there…
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NIC MAP® Data Service clients attended a webinar in mid-April on the key seniors housing data trends during the first quarter of 2018. Key takeaways included the following.
Takeaway #1: Seniors housing occupancy fell to 88.3%
The all occupancy rate for seniors housing, which includes properties still in lease up was 88.3% in the first quarter, down 90 basis points…
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As the seniors housing and care industry’s leading data provider, NIC tracks occupancy, asking rents, demand, supply and construction data for independent living, assisted living, memory care, skilled nursing and continuing care retirement communities (CCRCs)/life plan communities (LPCs). The following narrative describes CCRC/LPC occupancy and supply and demand trends in the combined primary and secondary markets, which represent the aggregate…
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The NIC Map Data Service recently released national benchmark data through year-end 2017 for actual rates and leasing velocity. Key takeaways include:
Average initial move-in rates were below average asking rates for both independent living and assisted living properties, with monthly spreads larger for assisted living properties throughout the entire reported period.
As of December 2017, assisted living initial rates…
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