In the nation’s largest 31 metropolitan areas, assisted living properties experienced a 0.9 percentage point decline to 85.2% stabilized occupancy in May, according to data from the National Investment Center for Seniors Housing & Care’s NIC MAP Data Service. For comparison, April listed 86.1% and March recorded 87.8%, showing a total 2.6 percentage point decrease since the onset of the COVID-19 pandemic.
The impact was less severe for independent living properties, which experienced a 0.6 percentage point decrease to 89.5% in May, down from 90.1% in April and 91.4% in March.
“The data showing declines in occupancy at assisted living properties validates what property operators have said about the impact of COVID-19 on the senior housing sector,” says Beth Burnham Mace, NIC’s chief economist. “Assisted living residents tend to be frailer than independent living residents and often have multiple chronic diseases. Their need for more care means greater risk of complications from COVID-19.”
On the positive side, the change in occupancy in May was less than the previous month in both independent and assisted living facilities, suggesting occupancy declines may be stabilizing.
“It’s too soon to predict whether senior housing occupancy will steady in the months ahead, but it’s a critical piece of information to monitor closely,” says Brian Jurutka, NIC’s president and CEO. “Occupancy shifts are key indicators for property operators to guide informed decisions about residency and current and future staffing needs.”