2022 - Q2 Market Analysis Report

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 like;

Occupancy
Unit info/prices
Care charges and what is included in the care
Services and amenities

*Data is Assisted Living and Memory Care focused.

Indianapolis 17 locations

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Columbus 18 locations

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Cleveland 18 locations

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AL Unit Sizes and Pricing

AL Care and Care Pricing

Occupancy, Rates, and Incentives

Occupancy averages for each regions 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 its’ Assisted Living (83.94%).
Columbus has very 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.
Occupancy is at it’s all time high since in Q2-2022 of 81.4% according to the NIC’s 2022 Average Q2 Occupancy report.

Community occupancy averages for each regions including IL/AL/MC

*11 communities had IL Services

Cleveland

Columbus

Indianapolis

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

Both Cleveland and Indianapolis are above the occupancy average for Q2-2022 as reviewed in the above NIC report.

Special rates and incentives/discounts from each community

Above you can see the summarized version of how many communities offered a discount or special vs how many did not or potentially would.

Largest trend is no discounts being the top commonality but also Cleveland and Columbus did have some locations that would offer discounts as well, while Indianapolis was split between either offering a discount or potentially offering a discount.
Many communities that answered potentially would discount did ask that the prospect come in and tour and they would see what they could do. Other responses including comparing competitors discounts and that would potentially 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. Below are many unique offers. Move your cursor over the images to pause the slide show.

Rate increases and refund availability

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 3 regions is 2.81%.
Outliers include 11%, 9%, and 6%.
The most common rate increase between the three regions is 3%.
Cleveland’s average: 2.75%
Columbus’ average: 3.05%
Indianapolis’ average: 2.62%

Community Fees

All Community Fee Prices

The above line graph shows each 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.

Between all 3 regions, the average 2nd occupant charge is 679.06
- Cleveland’s 2nd occupant charge average – $657.00
- Columbus’ 2nd occupant charge average – $741.94
- Indianapolis’ 2nd occupant charge average – $635.82

2022 - Q2 Market Analysis Report

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 like;

AL Unit Sizes and Pricing

AL Care and Care Pricing

AL Care and Care Pricing

Occupancy, Rates, and Incentives

Occupancy averages for each regions 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 its’ Assisted Living (83.94%).

Columbus has very 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.

Occupancy is at it’s all time high since in Q2-2022 of 81.4% according to the NIC’s 2022 Average Q2 Occupancy report.

Community occupancy averages for each regions including IL/AL/MC

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

Both Cleveland and Indianapolis are above the occupancy average for Q2-2022 as reviewed in the above NIC report.

Special rates and incentives/discounts from each community

Above you can see the summarized version of how many communities offered a discount or special vs how many did not or potentially would.

Largest trend is no discounts being the top commonality but also Cleveland and Columbus did have some locations that would offer discounts as well, while Indianapolis was split between either offering a discount or potentially offering a discount.

Many communities that answered potentially would discount did ask that the prospect come in and tour and they would see what they could do. Other responses including comparing competitors discounts and that would potentially 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. Below are many unique offers. Move your cursor over the images to pause the slide show.

Rate increases and refund availability

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 3 regions is 2.81%.

Outliers include 11%, 9%, and 6%.

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

Cleveland’s average: 2.75%

Columbus’ average: 3.05%

Indianapolis’ average: 2.62%

Community Fees

The above line graph shows each 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.

Between all 3 regions, the average 2nd occupant charge is 679.06

Cleveland’s 2nd occupant charge average – $657.00

Columbus’ 2nd occupant charge average – $741.94

Indianapolis’ 2nd occupant charge average – $635.82

72% of locations do not have a waitlist.

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