SEATTLE: Overall seniors housing occupancy declined in the first quarter of this year, but standing out from the stat is independent living, which boasted stable occupancy relative to the prior quarter, according to first quarter data released today.
The average occupancy rate for seniors housing properties in the first quarter of 2015 was 90.2%, a decrease of 0.2 percentage points from the prior quarter.
Independent living remained stable at 91.2% in the first quarter, the same as in the fourth quarter of 2014, which was the best showing since late 2007 and 1.0 percentage points above year-earlier levels, data show. In addition, rent growth accelerated to 2.7% — the fastest rate since late 2009.
Assisted living occupancy did not fare as well, with occupancy rates slipping back to 88.7% in the first quarter of 2015, down 60 basis points from 89.3% in the fourth quarter and 20 basis points from 88.9% in the first quarter of 2014.