The stabilized occupancy rate for majority assisted living properties fell again in November, dropping 0.1 percentage point to 80.6%.
While the latest occupancy numbers are a new low for assisted living, it’s the smallest drop the sector has seen since the beginning of the pandemic, according to the latest intra-quarterly snapshot report from the National Investment Center for Seniors Housing & Care’s NIC MAP Data Service. Since February, assisted living occupancy rates have fallen 7.2%
The report also found that the occupancy rate for majority independent living fell 0.3% in November to 86.1%, also a new low for that sector. At the same time, independent living inventory within the NIC MAP primary markets increased by 2.7% — or 8,883 units — year-over-year. Annual inventory growth within assisted living was 3.1%.
Occupancy rates continue to vary across the nation, however. Minneapolis and New York City reported the highest occupancy rates for independent living and assisted living, respectively. At the other end of the spectrum, Houston and San Antonio reported the lowest occupancy in these sectors.
