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Senior housing occupancy levels rise in April
The senior housing all-occupancy rate increased to 83.5 percent in the April reporting period, up 0.3 percentage points (pps) from March and up 5.7 pps from the 77.8 percent low recorded in June 2021.
According to NIC’s Executive Survey Insights (ESI) released by NIC MAP Vision for the month of April, strong demand suggests a positive outlook for senior housing. One-half of responding operators (52 percent) reported an acceleration in the pace of move-ins, the highest share of operators reporting an acceleration since April 2022 (54 percent).
Despite the faster improvement in assisted living, the overall occupancy rate is still lower than that of independent living. The inventory of independent living and assisted living for the NIC MAP Primary Markets increased 1.7 percent and 1.5 percent, respectively, from year-earlier levels in the April 2023 reporting period.
At 85.3 percent, the all-occupancy rate for majority independent living properties edged