Senior housing continued its recovery from pandemic-era troughs in the first quarter of this year, with occupancy ticking up slightly from Q4 to hit 80.6%.
That's two and a half percentage points higher than the pandemic low of 78%, according to new NIC MAP Vision data. The Q1 numbers represent the sector's third consecutive quarter of increasing occupancy and are a welcome sign for owners and investors rattled by ongoing COVID-19 concerns.
"The increase in senior housing occupancy despite the highly contagious Omicron variant is a testament to the success of the COVID-19 vaccines and to the infection control policies operators put in place to keep residents safe," said Beth Burnham Mace, chief economist and director of outreach for the National Investment Center for Seniors Housing & Care in prepared remarks.
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