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Nursing care occupancy increases in 1Q2011

May 4, 2011
by submitted by the National Investment Center for the Seniors Housing & Care Industry
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NIC's seniors housing update

Occupancy in nursing care properties rose for the first time in a year during 1Q11 to 88.5 percent, an increase of 0.1 percentage points from the prior quarter.

The number of operational beds continued its slow decline during the quarter, with a net loss of 332 beds across the top 31 metropolitan markets, representing about a 0.1 percent decline in the total number of operational beds. This trend of marginally decreasing bed capacity has been in place for several years now.

While bed capacity declined, the number of occupied beds increased this quarter, which is only the third quarter in the past five years that an increase has occurred.

The number of occupied beds increased by 437 in 1Q11 within the top 31 metropolitan markets, representing an increase of 0.1 percent from the prior quarter. Within the top 31 metropolitan markets, 16 markets had occupancy increases from last quarter, one remained the same, and 14 markets had occupancy declines. This distribution is more favorable than the year-over-year comparisons.

On a year-over-year basis, 10 markets had occupancy increases, one remained the same, and 20 markets had occupancy declines. New York remains the highest occupied market at 94.3 percent, and Dallas remains the lowest occupied at 76.5 percent, as of 1Q11.

Chart courtesy of NIC MAP Data & Analysis Service.
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