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A Look Back: Senior Housing in 2017

2017 was a big year for senior housing, from the role of technology to changing demographics and resident needs. We covered a lot of topics over this last year and today we thought it would be fun to look back on them and how the industry has progressed over the last year. We are always keeping our eye on the latest senior housing trends with the intention of keep you all informed! Whether you are an investor, senior living provider, industry publication, or work in senior housing in some other capacity, we are happy you are along for the ride. As always, if you have any questions about the industry or are curious about our current inventory and investment opportunities, please do not hesitate to contact Shep Roylance of The JCH Group.

That being said, here are a few highlights from 2017:

    • Development and Design Trends – We kicked off 2017 with a look at some of the upcoming development and design trends expected to hit the senior housing industry. From open floor plans to catering to resident interests and offering boutique amenities, this was an introspective look at what senior living developers were taking into consideration as they embarked on new projects.
    • Baby Boomers – One of the hottest topics in senior housing in 2017 was Baby Boomers. There isn’t a person in senior housing who doesn’t have their eye on this generation, as they are expected to play a major role in the industry moving forward. With an estimated 10,000 Americans turning 65 every single day, there is a huge opportunity for senior living providers to cater to their needs. Many Baby Boomers are choosing to downsize and move into a senior living community much earlier than previous generations, giving skilled nursing facility (SNF) providers pause for thought.
    • Luxury Senior Living Communities on the Rise – One of the most important senior living trends of 2017 was the rise of luxury senior living communities. 2017 saw many facilities undergo renovations and upgrades in order to meeting the needs of residents, and numerous new construction facilities are catering to a more high-end resident.
    • Technology and Telehealth –  Today technology plays a major role in promoting wellness in senior living, something we are seeing through telehealth efforts. From changing Medicare models and new payment programs to the need for remote patient monitoring, technology is impacting the way in which SNFs care for residents.
    • The Role of Music –  Another interesting trend we saw in 2017 was the introduction of music as therapy. The Alzheimer’s Foundation of America estimates 5.1 million Americans have some form of dementia and a new study came out showing how effective music is in caring for these individuals.
    • Urban Senior Living Communities – One of the most exciting pieces of news to hit the senior living industry in 2017 was the trend of urban senior housing communities. Studies indicate more and more seniors are looking to retire in big name cities and other urban settings. The ‘new senior’ wants to live somewhere lively, within walking distance of many attractions, and close to the city center.

Wishing you all a happy and healthy holiday season from The JCH team! We are honored to be your source for senior housing news and look forward to working together and networking in 2018.

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