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Special Report

Senior Housing National Report

2H 2023

Robust Rent Growth Helping Operators
Overcome Climbing Costs

Senior housing net absorption stays elevated. Demand for senior housing options continued unabated during the first nine months of 2023, extending a robust recovery that has been underway since spring 2021. In the 10-quarter span between April of that year and September 2023, more than 103,000 units were absorbed on net. That is more than double the number of doors that were relinquished during the worst of the pandemic, or that were absorbed in the 10 quarters preceding the health crisis. Had pre-COVID-19 absorption trends carried forward, only about 10,000 more units would have been taken up today. This remarkable turnaround in demand is, in turn, fostering enhanced property fundamentals.

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