Q2 - 2022 Market Analysis Rates and Occupancy

Quarter 2 Market Analysis Introduction

Table of Contents

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In July of 2022, Bild&Co conducted 53 market surveys across three major regions, listed below. Review the Table of Contents to navigate the data for specific topics;

Occupancy
Specials/Incentives
Rate Increases
Community Fees
2nd Occupants and Waitlists

*Data is Assisted Living and Memory Care focused.

Occupancy, Rates, and Incentives

Occupancy Averages for Each Region Categorized by AL/MC

Assisted Living and Memory Care

The above chart reflects the average occupancy for each region based on Memory Care or Assisted Living. A few trends with this data are:

Cleveland has a lower Memory Care occupancy (78.42%) average than Assisted Living (83.94%).
Columbus has similar occupancy in Assisted Living (77.13%) vs Memory Care but still has a higher Memory Care (78.03%) occupancy.
Indianapolis has the highest Memory Care (86.49%) occupancy and the highest Assisted Living (92.18%) occupancy compared to the other regions.

Community Occupancy Averages for Each Region Including IL/AL/MC

*11 communities had IL Services

Cleveland

Columbus

Indianapolis

The above progress circles reflect average occupancy for each region. Overall, we can see that Indianapolis has the highest community occupancy average.

Both Cleveland and Indianapolis are above the industry occupancy average for Q2-2022.

Special Rates and Incentives/Discounts from Each Community

Count of Responses on Specials For Each Region

Above is the summarized heat map of how many communities offered a discount or special vs how many did not or potentially would.

On the initial mystery shop call, the communities did not offer discounts, but it was split depending on the situation and the potential to offer a discount.
Many communities would potentially consider a discount and asked that the prospect come in and tour to see what the community could do. Other responses including comparing competitors discounts and that would determine if there may be a discount as well.
The most common discount being offered was to waive or reduce the community fee. Otherwise almost half of the communities shopped, did not offer any discounts at all

**Below you can see the individual special or discount and how many communities responded with that answer. There are many unique offers. Move your cursor over the images to pause the slide show.

Rate Increases and Community Fees

Count of Rate Increases %

The above heat map shows each regions rate increases and how many locations have that rate increase.

The average rate increase for these three regions is 2.81%.
In the above heat map you can see 3 major location outliers; 11%(Indianapolis), 9%(Columbus), and 6%(Indianapolis).
The most common rate increase between the three regions is 3%.
Cleveland’s average: 2.75%
Columbus’s average: 3.05%
Indianapolis’s average: 2.62%

Community Fees

All Community Fee Prices

The above line graph shows community fees from lowest to highest.

The average community fee for each region:
- Cleveland – $1,477.78
- Columbus – $1,433.33
- Indianapolis – $1,166.66
No communities offered a refund for the community fee.

2nd Occupant Charges and Waitlists

Between all three regions, the average 2nd occupant charge is $679.06
- Cleveland’s 2nd occupant charge average – $657.00
- Columbus’s 2nd occupant charge average – $741.94
- Indianapolis’s 2nd occupant charge average – $635.82

Q2 - 2022 Market Analysis Rates and Occupancy

Quarter 2 Market Analysis Introduction

In July of 2022, Bild&Co conducted 53 market surveys across three major regions, listed below. Review the Table of Contents to navigate the data for specific topics;

Occupancy, Rates, and Incentives

Occupancy Averages for Each Region Categorized by AL/MC

The above chart reflects the average occupancy for each region based on Memory Care or Assisted Living. A few trends with this data are:

Cleveland has a lower Memory Care occupancy (78.42%) average than Assisted Living (83.94%).

Columbus has similar occupancy in Assisted Living (77.13%) vs Memory Care but still has a higher Memory Care (78.03%) occupancy.

Indianapolis has the highest Memory Care (86.49%) occupancy and the highest Assisted Living (92.18%) occupancy compared to the other regions.

Community Occupancy Averages for Each Region Including IL/AL/MC

The above progress circles reflect average occupancy for each region. Overall, we can see that Indianapolis has the highest community occupancy average.

Both Cleveland and Indianapolis are above the industry occupancy average for Q2-2022.

Special Rates and Incentives/Discounts from Each Community

Count of Responses on Specials For Each Region

Above is the summarized heat map of how many communities offered a discount or special vs how many did not or potentially would.

On the initial mystery shop call, the communities did not offer discounts, but it was split depending on the situation and the potential to offer a discount.

Many communities would potentially consider a discount and asked that the prospect come in and tour to see what the community could do. Other responses including comparing competitors discounts and that would determine if there may be a discount as well.

The most common discount being offered was to waive or reduce the community fee. Otherwise almost half of the communities shopped, did not offer any discounts at all

**Below you can see the individual special or discount and how many communities responded with that answer. There are many unique offers. Move your cursor over the images to pause the slide show.

Rate Increases and Community Fees

Count of Rate Increases %

The above heat map shows each regions rate increases and how many locations have that rate increase.

The average rate increase for these three regions is 2.81%.

In the above heat map you can see 3 major location outliers; 11%(Indianapolis), 9%(Columbus), and 6%(Indianapolis).

The most common rate increase between the three regions is 3%.

Cleveland’s average: 2.75%

Columbus’s average: 3.05%

Indianapolis’s average: 2.62%

Community Fees

The above line graph shows community fees from lowest to highest.

The average community fee for each region:

Cleveland – $1,477.78

Columbus – $1,433.33

Indianapolis – $1,166.66

No communities offered a refund for the community fee.

2nd Occupant Charges and Waitlists

Between all three regions, the average 2nd occupant charge is $679.06

Cleveland’s 2nd occupant charge average – $657.00

Columbus’s 2nd occupant charge average – $741.94

Indianapolis’s 2nd occupant charge average – $635.82

72% of locations do not have a waitlist.

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