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Senior housing shortage could require $1T investment by 2050

Occupancy is already at 90% nationwide, and construction starts have fallen 67% since 2021, widening the supply gap.

Reported · Written up by our desk · Residential

As the first wave of baby boomers turns 80 this year, senior housing demand is outpacing slowed development, according to a report from NIC Map cited by Bisnow.

NIC Map said senior housing occupancy has reached 90% nationwide, and maintaining that availability level would require spending more than $1T by 2050.

The report also points to a surge in people who are expected to choose senior housing, with NIC Map estimating 13 million additional residents within the next 15 years.

At the same time, construction starts have dropped 67% from about 30,000 units to 10,000 between 2021 and 2025, implying the industry would need to add 578,000 units by 2030 and more than 1 million by 2035, Bisnow reported.

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