NIC: Senior living occupancy up 4th consecutive quarter

Senior housing occupancy increased from 80.5 percent in the first quarter of 2022 to 81.4 percent in the second quarter, making it the fourth consecutive quarter increase, according to a July 7 report from the National Investment Center.

Senior housing reached a pandemic low in the second quarter of 2021, at 78 percent.

"The sector has not fully recovered from occupancy losses during the height of the pandemic, but the continued upward occupancy trend despite workforce and supply challenges is a positive sign," said Chuck Harry, chief operating officer of the National Investment Center. "Today's economic challenges could present another hurdle for operators, but we cautiously believe that the upward trend in occupancy will continue because the need for senior housing remains strong."

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