Q2-2024 Market Rates and Square Footage White Paper
Author:
Traci Bild
Date Posted:
August 7, 2024
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In Quarter-2 of 2024, BILD conducted over 100+ individual Market Surveys on senior living communities across the nation. Below is the executive summary and the data trends that were uncovered regarding unit pricing, and the changes since 2022, for each care service (IL, AL, MC).
Target Regions: U.S Market Areas (percent of shops) – East Central (32%), West Central (1%), Pacific (28%), South Atlantic (34%), Mountain (1%), New England (3%)
Target States: AL, CA, FL, IL, IN, KY, MA, MD, MI, MO, NV, OH, TN, VA
Time Periods Data Analyzed: 4/1/2024 – 6/30/2024
- Independent living studio prices range between $3,360-$4,298, with an average size between 404-477 sq. ft.
- Assisted Living one-bedroom prices range between $5,716-$6,927, with an average size between 549-652 sq. ft.
- The average companion suite price in memory care ranges from $4,516-$6,810 and has an overall average of $5,663 per month. The average size of a companion suite is 459 sq. ft., ranging from 423-579 sq. ft.
- Independent Living, Assisted Living and Memory Care have increased on average 30% in pricing since 2022.
Independent Living Rates Summary
Independent Living Rates by MSA
Assisted Living Rates Summary:
Assisted Living Rates by MSA:
Memory Care Rates Summary:
Memory Care Rates by MSA:
About the Author: Traci Bild
Traci Bild, Founder of BILD & Co and BILDX, has revolutionized the senior living industry for over two decades. Her innovative sales and marketing strategies have positively impacted 80% of the top 100 senior housing operators in the U.S., U.K., and Canada. An accomplished author of four books, including "Zero Lost Revenue Days," Traci's expertise is frequently featured in CBS Sunday Morning News, Wall Street Journal, BBC, Senior Housing News, and McKnight’s Senior Living. Her firm, BILD & Co, is a Great Place to Work and ranks among Inc. 5000’s Fastest Growing Private Companies.
