Seniors Housing Actual Rates
What are residents actually paying? Insights provided by NIC MAP Vision.
The Actual Rates Data Initiative is an effort to expand seniors housing data. This quarter continues to include a segment cut report providing metro-level data on Atlanta, Philadelphia, and Phoenix, in addition to the national aggregate. NIC MAP Vision clients with access to NIC MAP actual rates data can access data cuts for independent living, assisted living, and memory care on:
- Leasing Activity: as measured by move-in and move-out velocities
- Actual Rates: includes both in-place and move-in rates
The current national data set includes:
- 25 to 30 operators
- More than 2,500 properties
- 300,000 units
NIC MAP Vision plans to report additional metropolitan markets going forward based on the participation rates of the local seniors housing operators. NIC is collecting data from operators of rental seniors housing (independent living, assisted living, and memory care) who have five or more properties. Learn more about participating.
1Q21 NIC MAP Seniors Housing Actual Rates Key Points:
- For the first time since the onset of the pandemic in March 2020 the pace of move-ins exceeded the pace of move-outs for both the independent living and the assisted living care segments in March 2021.
- Average initial rates for residents moving into independent living, assisted living and memory care segments were below average asking rates, with monthly spreads generally largest for assisted living.
- Average in-place rates for residents in assisted living and memory care segments were below average asking rates. The discount was smaller for in-place rates than initial rates compared with asking rates.
- The rate of move-ins outpaced the rate of move-outs for both majority independent living and majority assisted living properties in March 2021 for the first time since September 2019.
- Majority independent living initial rates made gains against asking rates during the first quarter of 2021. The discount was around one month during the first three months of 2021 which is the highest discount in about a year.
- Majority assisted living properties experienced small increases with in-place and asking rates during the first three months of 2021. The discount for initial rates remained steady during the first quarter at about one month.
While the key points listed above are a complimentary resource, only clients have exclusive access to the underlying data and additional metrics.