Developers have been drastically over-building senior housing developments because they’re anticipating the number of seniors in America to double in the next decade. Essentially, this means that there is a surplus of senior housing right now and communities are desperate to fill their vacancies. If you look in the right places, you should find incredible deals on Senior Housing.
What Does Senior Housing Normally Cost?
As of 2016, The Cost of Care Survey 1 reported that the national median rate for a one-bedroom living facility increased 2% to the price of $3,628 per month.
The same report revealed that a semi-private room costs, on average, $3,628 a month while a private room costs over $7,500 each month. This is a total increase of 5% in the past 5 years. At this rate, senior living may soon become a luxury that only a few can even afford.
But, with an unexpected boom of new senior living options like multi-generational communities, urban senior communities, and more, prices are temporarily down. For the first time many years, deals on senior living are everywhere if you are looking in the right places.
The Statistics They’re Hiding From You
According to the National Center for Assisted Living, 2 there are currently over 28,000 assisted living residences in the U.S., housing over one million seniors. Though this seems like there are enough Assisted Living facilities for Seniors, by 2035 the number of seniors is expected to double.
In response, Developers are looking to increase by almost threefold the amount of residences within 10 years. As communities and housing developers prepare for the rising number of senior citizens in need of a place to live, the building has already begun.
