The dynamics of the aging population are reshaping the landscape of senior living and healthcare facilities. As the population continues to age, the demand for senior living facilities and medical offices is increasing. Demographic trends point to continued tailwinds for the sectors.
The 65-plus age cohort is set to soar, as the youngest of the baby boom generation — the very large age cohort born between 1946 and 1964 — turn 65 over the next four years. The 65-plus age group is expected to grow from 60.8 million in 2024 to 70.6 million by 2030 and 78.3 million by 2040, according to data by CoStar Group.
Although the 65-plus population is growing, and is expected to be 32 percent larger by 2050, the 80-plus population is expected to increase even more, up 120 percent over the same time period, compared to 11 percent for the general population.
As a corollary to the increased size of the 65-plus population, the demand for medical office facilities is growing
