Occupancy in various levels of care or service within continuing care retirement communities generally has been higher than occupancy in freestanding, non-CCRC communities offering those same levels of care or service, according to an analysis by the National Investment Center for Seniors Housing & Care.
NIC Senior Principal Lana Peck said she compared “apples to apples” by looking at NIC MAP data from the fourth quarter of 2014 to the second quarter of 2018 for CCRCs with entrance fees and rental fees as well as independent living, assisted living and memory care communities outside of CCRCs.
In independent living, for instance, occupancy was 92.4% in entrance-fee CCRCs, 90.6% in rental CCRCs and 89.4% in non-CCRC properties.
For assisted living, occupancy was 92.3% in entrance-fee CCRCs, 90% in rental CCRCs and 86.7% in non-CCRC properties.
And in memory care, occupancy was 90.9% in entrance-fee CCRCs, 87.7% in rental CCRCs and 82% in non-CCRC properties.
Peck also found that in all three levels of living — independent living, assisted living and memory care, rent was highest in entrance-fee CCRCs and lowest in rental CCRCs. Non-CCRCs generally had higher rates of inventory growth by segment than CCRCs, with the highest coming in memory care.
See Peck’s complete blog post on NIC’s website.