Last year, senior housing occupancy rates have dropped to record lows. A new report from the National Investment Center for Seniors Housing and Care, the senior housing occupancy rate fell 1.3% in the fourth quarter to 80.7%. In 2020, the senior housing occupancy rate fell 6.8%.

The rate of decline slowed in the fourth quarter; however the report expects occupancy rates to fall once again following the surge in COVID-19 cases this winter. The occupancy rate for independent living and assisted living fell at a similar rate in the fourth quarter. Independent living occupancy declined 1.4% quarter-over-quarter to 83.5%, while assisted living rates fell 1.3% to 77.7%. Nursing home occupancy rates fell the most significantly to 75.3%. Annually, independent living occupancy has decreased 7.4% while assisted living properties have had a 6.2% decrease in average occupancy.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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