ANNAPOLIS, MD. — Demand for seniors housing has reached an all-time high, according to the National Investment Center for Seniors Housing & Care (NIC). In a press release, the Annapolis-based organization reported that occupancy rates in the United States increased 30 basis points — from 87.1 percent in the fourth quarter of 2024 to 87.4 percent in the first quarter of 2025 — referencing data from NIC MAP, which tracks occupancy rates in 31 primary markets throughout the country.
Occupancy across independent living properties rose to 89 percent from 88.6 percent in the same period, and occupancy rates in assisted living communities increased to 85.8 percent from 85.5 percent. The first quarter of 2025 marked a record for occupied seniors housing units, with roughly 621,000 units occupied, an increase from 617,000 in the fourth quarter of 2024.
Simultaneously, construction starts in the seniors housing sector were at only 1,076 units, their lowest since the second quarter of 2009. Approximately 19,500 units total were under construction in the first quarter of 2025, marking the lowest level since 2013. Rental rates, on average, saw a slight decrease quarter-over-quarter.