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Bild & Co Quarter 1 Selective Market Analysis Report

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    Overall Summary

    In Quarter 1 2022, the following data was retrieved from 77 separate communities from 3 different market areas: 
    The following was analyzed throughout this report:
    • Community fees
    • Potential Discounts
    • Unit Price vs. Size of each unit type
    • Care Charges for both AL and MC and what is included in care
    • Occupancy averages for each region and throughout the industry


    For two decades Bild & Co has been advising owners and operators in the senior living, active adult, and multifamily sectors. The Bild & Co team provides advisory and consulting services to clients operating in the U.S, Canada, and the U.K. Our primary focus is to improve the financial performance of assets through the collaborative development of company branded sales and marketing systems, revenue growth coaching, competitive analysis, and executive advisory.  All services are tailored to meet the goals of each client.
    In this 1Q22, Selective Market Analysis, the Bild & Co Research Team studied three markets, equating to 77 communities.  This analysis provides a breakdown of market specific averages and trends throughout the examined regions.  This report analyzes community fees and charges, current rate increases, specials and incentives, unit price versus square footage, and occupancy.  The targeted areas included are:
    **Data is reflective on communities that responded.
    Region Area # of Communities Shopped
    Atlanta Alpharetta 8
    Atlanta Lawrenceville 1
    Atlanta Sandy Springs 6
    Atlanta Atlanta 2
    Atlanta Dunwoody 6
    Chicago Naperville 8
    Chicago Park Ridge 1
    Chicago La Grange 2
    Chicago Burr Ridge 1
    Chicago Lincolnshire 1
    Chicago Deer Park 1
    Chicago Buffalo Grove 5
    Chicago Schaumburg 1
    Chicago Elmhurst 1
    Chicago Hinsdale/La Grange Park 5
    Dallas University Park/Dallas 5
    Dallas Dallas 5
    Dallas Allen 1
    Dallas Lewisville 1
    Dallas Richardson 1
    Dallas Flower Mound/Lewisville 7
    Dallas Plano 8
    Harnessing the data in this report, you will have real time, accurate information for better decision making and strategic planning purposes.
    If you have any questions or would like the Bild & Co Team to complete a study for your organization, please contact us here.


    Alyssa Wendrick

    Alyssa Wendrick

    Director of Data Research

    Courtney Culver

    Courtney Culver

    Director of Research

    Community Fees

    Current average community fees for each region and the highest fee vs. the lowest fee.
    Average Community Fee by Region
    • 13% of all communities offer an entrance fee equivalent to the first month’s rent.
    • First month’s rent starts at (varies based on care level needed):
        • $2,755 for a studio in IL
        • $3,853 for a studio in AL
        • $5,484 for a studio in MC
    Outliers to this information include:
    • Two locations in Chicago offered one month’s rent as the community fee.
    • Atlanta had one location that offered the first month’s rent as a fee.
    • Naperville, Chicago and University Park, Dallas showed the highest community fee at $5,000.
    • The lowest community fee was $500 in Buffalo Grove in the Chicago market.

    Specials and Rates

    Review types of current specials being offered and how each region is incentivizing. Also, the drastic difference in rate increases for each region.
    Overall Specials and Incentives in All Regions
    • 69% of communities do offer a special or incentive towards rent or fees.
    • 24.4% of communities offer to potentially discount/waive community fee.
    Total Specials and Incentives by Region
    • In Chicago, 40% of locations provide a specific amount/discount off rent.
      • 40% of locations were unable to provide information on discounts.
      • 13.3% of locations do not provide any specials/incentives.


    • 53.3% of locations in Dallas do not provide a special.
      • 46.66% of locations in Dallas provide some sort of special.


    • 46.6% of locations in Atlanta provide some sort of discount while 26.67% do not provide a special.
      • One location was unsure of specials and two other locations said they discuss specials in person.
    Average Annual Price Increase in Each Region
    • The graph below shows that Atlanta has an average yearly rate increase of 4.46%.
      • The most common and the lowest rate increase in Atlanta is 4%.
      • While one location in Alpharetta, Atlanta has an 8% increase, four other locations ranged between 4-6%.
    • Chicago has an average rate increase of 3.46%.
      • The most common rate increase is 4% while the lowest rate is 2%.
      • The highest annual rate increase is 5%.
      • Three locations identified as a sliding rate between 3-5%.
      • One location did not have a rate increase.


    • Dallas has an average rate increase of 2.9%.
      • The most common and highest rate increase is 4% while the lowest rate increase for three locations is 0% (or they have a freeze on rates).

    Unit Price vs. Size

    Average price of unit types for each region separated out by care services.

    Independent Living

    Average Price by Unit Size and Region
    Size in Square Foot

    Assisted Living

    Average Price by Unit Size and Region
    Size in Square Foot

    Memory Care

    Average Price by Unit Size and Region
    Size in Square Foot

    Care Charges

    Assisted Living and Memory Care charges by region and what kind of care is included.
    Assisted Living Charges Average by Region
    • Overall care level averages: 
      • Level 1: $522
      • Level 2: $942
      • Level 3: $1,404
      • Level 4: $1,595
      • Level 5: $2,441
    • Chicago has a significantly higher care charge for each level of care. Dallas and Atlanta are similar in care charge fees, but Atlanta has a slightly higher charge rate for level four and five while Dallas has higher charges for levels one, two, and three.
    • 13% of locations (six locations) provide all-inclusive care charges.
    • Medication management charges on average start at $250 when sold a la carte and climb toward $1,000 per month for locations who offer it as part of a flat rate fee.
    Memory Care Charges Average by Region
    • In the chart above, visible trends emerge by region as the data reflects current Memory Care charges. Atlanta has a significant higher charge for the first level of care but as care levels intensify, charges decrease, especially in comparison to the other regions.
      • 33% of the locations researched in Atlanta, show an all-inclusive rate for memory care charges.
      • 27% of the locations in Dallas and Chicago, show an all-inclusive rate for memory care charges.



    Current industry standards of occupancy compared to the occupancy of each region.
    Occupancy Percent by Service
    • Surveyed in February 2022, the average occupancy among all regions combined is 77.8% (Atlanta at 81.94%, Dallas at 80.41%, and Chicago at 71.34%).
      • The highest occupancy for each region is:
        • Atlanta 99%
        • Dallas 100%
        • Chicago 100%
      • The lowest occupancy for each region is (excluding 0%):
        • Atlanta 70.8%
        • Dallas 49%
        • Chicago 19%
    Occupancy Percent and Units by Region

    Atlanta Average Occupancy


    Dallas Average Occupancy


    Chicago Average Occupancy

    • As reported from NIC, end of 1Q2022 industry occupancy:
        • 83.1% in IL
        • 77.9% in AL
        • 77.6% in MC*
        • 80.6% Overall
    • Since June 2021*, industry-wide occupancy increased 0.2% from 80.4%.
    • The industry data provided shows that all three regions are slightly below the current industry averages.

    Other Information

    Reviews potential community fee refund amounts and the 2nd occupant charge.
    List of Fee Refund Amounts in Each Region
    Market Area # Of Locations With This Refund Refund Given
    Atlanta 13 0%
    Atlanta 1 100%
    Chicago 13 0%
    Chicago 1 22%
    Dallas 9 0%
    Dallas 2 100%
    Dallas 1 33%
    93% of Atlanta locations do not provide refunds for the fee. Only one location in Dunwoody, Atlanta offers a refund. Similarly, only one location in Buffalo Grove, Chicago offers a refund. However, three locations researched in Dallas, offer a refund.
    • Atlanta has one location that offer a 100% refund.
    • Chicago has one location that offer a 22% refund.
    • Dallas has one location offering a 33% refund and two locations offering a 100% refund.
    Average Second Occupant Fee Charge in Each Region
    • Atlanta has the lowest average on the second occupant charge at $900. The highest charge in the Atlanta study is $1,200.
    • Dallas has the highest average on the second occupant charge at $1,372. The highest charge in the Dallas study is $2,200.
    • Lastly Chicago is just below Dallas, with an average second occupant charge of $1,241. The highest charge in the Chicago study is $2,859.

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