Senior Housing National Report
Pent-Up Recovery in Motion, Jolting Occupancy and Rent;
Labor Shortfall and Inflation Remain Counteractive Forces
Social aspects and care-based services drive occupancy gains. Despite a slight bump in the road to recovery presented by the omicron wave of COVID-19 early this year, the senior housing sector had a stellar first half. Many of the nation’s elderly are becoming more comfortable moving back into, or entering , senior housing communities for the first time after delaying plans during the pandemic. Some older adults have cited an eagerness to experience the community-based aspects, after an extended period of social isolation. Others urgently need the care-based services that senior housing offers, with the friends and family able to provide at-home care during the early stages of the health crisis now returning to workplaces. According to NIC Map® Data Service, the net absorption of over 17,000 units during the first half brought the 12-month total to about 48,600 units absorbed, roughly twice the number of units relinquished during the prior year.