
Top Ten Senior Living Markets to Watch
The current top ten senior living markets to watch, as identified by Marcus and Millichap, are determined by the following factors: units in development, 4Q 2017 stabilized occupancy, and average annual 10 year 65+ population growth. For each of these markets, there is expected continued aggressive growth in both development and demand.
New construction has been substantial for the past few years in order to adequately meet senior housing demand as baby boomers reach retirement age, sell single-family homes, and make the change to independent or assisted living. The move to senior living may be premature for some, due to the changes to homeownership tax code that went into effect at the beginning of 2018. Homeownership in the 75 and older group has fallen for the last four years and is expected to decrease even more as a result of the tax code changes. Overall, we are looking towards positive growth nationwide, especially in established metropolitan areas with a significant senior population.
How to Interpret the Data
Wondering how to interpret the data? A common question generated from these snapshots is, “Why does the Cost Per Click (CPC) increase when you budget for more clicks?” When you spend less each month, Google tries to do as much as it can for as cheap as it can, but when you have a larger budget you can pay for better time of day ad placements. Deciphering Google Ads and getting the most out of your spend isn’t an easy task, finding the right partner can make all the difference.
Atlanta
Population: 5,789,700
Baby Boomers Percentage of Population: 10.8%
Chicago
Population: 9,512,999
Baby Boomers Percentage of Population: 11.2%
Dallas/Fort Worth
Population: 6,426,214
Baby Boomers Percentage of Population: 9.3%
Denver
Population: 2,814,330
Baby Boomers Percentage of Population: 10.9%
Detroit
Population: 4,292,060
Baby Boomers Percentage of Population: 12.6%
Los Angeles
Population: 13,131,431
Baby Boomers Percentage of Population: 12.9%
Minneapolis-St. Paul
Population: 3,551,036
Baby Boomers Percentage of Population: 8.8%
New York City
Population: 19,800,000
Baby Boomers Percentage of Population: 13%
Phoenix
Population: 4,737,270
Baby Boomers Percentage of Population: 9.8%
Tampa
Population: 3,068,511
Baby Boomers Percentage of Population: 11.8%
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