Rising occupancy rates, rising rents, and a "very muted" construction pipeline will drive seniors housing demand through 2023 and beyond, according to a new report from JLL.
The 80-plus population in the U.S. is expected to grow by more than 50% in the coming decade compared to the overall population growing just 4.7%, noted JLL managing director Bryan Lockard, MRICS, co-lead for the Seniors Housing Practice, Valuation Advisory.
"This underscores the enormous wave of pending demand for additional seniors housing and nursing care facilities providing ample opportunity for developers, owners, and investors in the sector long-term," Lockard said.
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