It’s no secret that the senior housing industry is in a major transition period right now. From the changing demographics to the fact that technology is making its way into all aspects of our lives, it is no wonder the senior living industry has had to adjust. As we’ve discussed over the last several months, there are numerous ways the industry is adjusting to this new generation of residents – namely when it comes to the type of care being administered. With this, it is also important to point out that various trends in senior housing are on the rise, thanks in large part to new expectations from residents.
Thanks to resident expectations and changing needs, one of the number one trends we are seeing right now is open floor plans and walkable communities. Gone are the days of residents looking for isolated, rural communities – today’s seniors have different priorities. Walkability has become a hot topic amongst senior housing providers and developers in recent months. According to a recent survey, a vast majority of seniors are more interested in assisted or independent living communities that offer proximity to transportation in urban neighborhoods. As our health needs and expectations have changed over the years, so have people’s housing needs and desires. Baby Boomers are not ‘throwing in the towel’ so to speak when it comes to their senior housing decision. They are taking their time and due diligence to find a place that meets their needs – both in wellness and social.
In the survey mentioned above, approximately 11% of seniors said neighborhood was a top priority when it came to selecting a senior living community. While this may not be a large percentage, the number of residents who find neighborhood and location important is on the rise. The growing appeal of urban-based senior living communities is something providers and developers alike are taking note of. Walkability has become a top priority, and communities must adjust if they are going to attract residents moving forward.
Between the impact technology is having on the senior living community and changing resident needs as mentioned above, senior living providers certainly have their work cut out for them. To learn more about the current state of the senior housing industry or if you are interested in investing in a property, please do not hesitate to contact Shep Roylance of The JCH Group.