Senior Housing Market Trends

In an earlier post we discussed 10 senior housing development trends for 2008. Another big change is the size of apartments or condos.Consider these stats from the National Apartment Association:In the 1950s, the average size of a new single-family home was 983 square feet. By 2006, that number had more than doubled, reaching a record 2,469 square feet. Today, 39 percent of new homes have four or more bedrooms (At Changing Aging, we ask, who sleeps in all those bedrooms?), almost double the rate of 20 years ago, and 26 percent of new homes have three or more bathrooms, nearly tripling the rate in 1986.In the 1980s, many senior housing developers created an influx of studio apartments. While many people want to rightsize from a single family home, they still desire ample privacy and space. Now you are seeing multiple bedrooms, full kitchens, dens, offices and other features such as robust fitness centers that weren’t in senior housing just 10 years ago.More information on senior housing development trends can be found in our white paper: A New Day and New Trends in Senior Housing Development.