Top Ten Senior Living Markets to Watch
The current top ten senior living markets to watch, as identified by Marcus and Millichap, are determined by the following factors: units in development, 4Q 2017 stabilized occupancy, and average annual 10 year 65+ population growth. For each of these markets, there is expected continued aggressive growth in both development and demand.
New construction has been substantial for the past few years in order to adequately meet senior housing demand as baby boomers reach retirement age, sell single-family homes, and make the change to independent or assisted living. The move to senior living may be premature for some, due to the changes to homeownership tax code that went into effect at the beginning of 2018. Homeownership in the 75 and older group has fallen for the last four years and is expected to decrease even more as a result of the tax code changes. Overall, we are looking towards positive growth nationwide, especially in established metropolitan areas with a significant senior population.
How to Interpret the Data
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Baby Boomers Percentage of Population: 10.8%
Baby Boomers Percentage of Population: 11.2%
Baby Boomers Percentage of Population: 9.3%
Baby Boomers Percentage of Population: 10.9%
Baby Boomers Percentage of Population: 12.6%
Baby Boomers Percentage of Population: 12.9%
Baby Boomers Percentage of Population: 8.8%
New York City
Baby Boomers Percentage of Population: 13%
Baby Boomers Percentage of Population: 9.8%
Baby Boomers Percentage of Population: 11.8%