Q2-2024 Market Survey Analysis: Senior Living Occupancy by Care Services

In Q2 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 occupancy trends and waitlist statuses for each care service within those senior living communities shopped.

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

Senior Living Occupancy by Care Services

The average total unit count per senior living community is 133 units. The total occupied units per senior living community averaged 92%. 11.1% of communities were at 100% occupancy, while 43% of senior living communities were at 80% occupancy or higher.

In Q1-2024, Independent living averaged 92.8% occupied. Assisted living averaged 94.8% occupied in Q1-24. Both IL/AL decreased 0.4% in Q2-24, while Memory Care increased 6.9% occupied in Q2-24.

There was a waitlist for 56% of the senior living communities for all or some care services, while 44% did not have a waitlist at all.

14% of those senior living communities had a waitlist for specific room sizes or apartment types. Most commonly, 2-bedroom apartments, private/luxury units, or units with the best views had waitlists. And 17% of communities had a waitlist for a specific care level. Most waitlists for a specific care level were 6-12 weeks long. While some communities had a 1–3-year long waitlist.