The recovery in assisted living occupancy took a pause at the end of 2011, as occupancy remained unchanged, according to NIC MAP. In 4Q11, assisted living occupancy was 88.6 percent, which is unchanged from the prior quarter and a 30-basis point increase from one year ago.
Absorption continued to remain positive, with the number of occupied units increasing by 0.4 percent in 4Q11. While absorption was markedly positive, the pace of inventory growth was also 0.4 percent—on par with absorption, resulting in occupancy remaining unchanged.
The pace of year-over-year rent growth also remained positive at 1.1 percent, essentially on par with the pace of the prior two quarters. As of 4Q11, the average monthly rent for assisted living properties within the top 31 metropolitan markets was $3,565.
|Graph courtesy of NIC MAP Data & Analysis Service|