What are some recent trends in the performance of the senior housing industry?  How is the independent living market in terms of occupancy and rents?  How does the Denver area compare to the other 30 largest cities in the U.S?

In an August 3, 2011 article, the New York Times provided this chart, displaying data from the National Investment Center for the Seniors Housing and Care Industry’s second quarter NIC MAP report, indicating that Denver outperformed most cities in year-over-year rent change, at 2.3% for the Denver MSA, compared to a 1.6% average. Occupancy rates stayed stable across the 31 cities at 87.7%, with Denver metro lagging somewhat at 86.7%.

We believe the occupancy lag in the Denver market is strongly related to the huge percentage of new independent living inventory that opened in the Denver area in 2008 and 2009 – considering the addition of about 2,000 units during that time, we think Denver’s independent living occupancy is doing well compared to other cities.

This entry was posted on Wednesday, October 26th, 2011 at 3:13 am and is filed under Recently Released Senior Housing Research. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.