Expertly navigating the senior housing surge
The USA senior housing market is a rapidly growing industry due to the aging baby boomer population. The market includes a variety of senior housing options such as independent living, assisted living, memory care, and skilled nursing facilities.
According to Grand View Research, the USA senior Housing market was valued at $343.06 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2021 to 2028. This growth is driven by factors such as increasing life expectancy, rising healthcare costs, and changing lifestyle preferences among seniors.
Solving staffing challenges across the nation
The market is highly fragmented with a mix of large chains and smaller, independent operators. One of the biggest challenges facing the industry is workforce shortages, particularly in skilled nursing facilities. Consequently, senior living providers are proactively investing in recruitment and retention strategies to draw and keep skilled professionals.
Overall, the USA senior living market presents a significant opportunity for growth, but providers must adapt to changing market demands and address staffing concerns to remain competitive.
