Asking Rate Growth for Seniors Housing at Near-Record High

​The National Investment Center for Seniors Housing & Care has reported that asking rates are at near-record highs on a year-over-year basis for all three care segments of independent living, assisted living, and memory care, based on contributors to NIC’s data collection.

The independent living care segment was the strongest pace of the three rate categories, at 9.6% year-over-year in March. In-place rates were up by 7.5% from year-earlier levels, and initial or move-in rates were up by 8.2%. These were nearly the highest rates of growth in the time series for these rates, except for January 2022, when many rates rose with lease renewals and annual adjustments.