Number of CCRCs decreases for first time in at least seven years
After increasing every year since at least 2010, the number of continuing care retirement communities decreased in 2017, according to Ziegler's national CCRC listing.
The specialty bank shared data going back to 2010, current as of Dec. 31, in its latest “Senior Living E-News.”
The year 2011 saw an increase of six retirement communities compared with the previous year, Ziegler said. Totals for 2010 and 2011 were 1,924 and 1,930, respectively, Ziegler said. In 2012, the increase was five CCRCs (also known as life plan communities) over 2011, to 1935.
The year 2013 saw an increase of nine CCRCs compared with the previous year. In 2014, the increase was smaller, two. Totals for 2013 and 2014 were 1,944 and 1,946, respectively.
The next year, 2015, however, saw an increase of eight CCRCs compared with the previous year. And in 2016, the increase was nine. Totals in those years were 1,954 and 1,963, respectively, Ziegler said.
In 2017, however, the total number of CCRCs decreased by eight, to 1955, Ziegler said.
Average monthly fees for CCRCs increased 0.03% more in 2017 compared to 2016, according to the newsletter, citing an October 2017 poll of chief financial officers. Fees went up 3.12% in 2017 compared with 3.09% the previous year.
A previous poll by Ziegler found that CCRCs plan to raise their monthly fees for existing independent living residents an average of 3.1% in 2018.
Staffing in CCRCs in 2017 averaged 0.44 full time equivalent per assisted living or memory care resident and one FTE per resident in skilled nursing, Ziegler said, citing industry data.