While many had hoped that the senior housing rollercoaster would begin to level off in 2023, inflation and rising interest rates continue to create uncertainty for the year ahead. Nonetheless, industry members share one common belief: innovation will be key in moving the senior living industry forward.

Demographic patterns in the US leave little doubt that demand in the industry will remain strong. The US Census Bureau projects that the country's population aged 65 and over will reach 83.9 million by 2050. An aging population ultimately means that the need for senior housing will continue to increase and a potential economic downturn will not have the same impact on the senior housing market as it may have on other real estate asset classes. Unfortunately, operational difficulties within the senior housing sector, including staffing shortages, supply chain issues, and rising expenses, will continue to burden the industry, even amid rising occupancy rates.

Notwithstanding these challenges, senior living providers are finding creative and innovative ideas to meet the evolving demands of the market, and one of the fastest-growing solutions is active adult living.