In 2024, senior living operators, owners, and developers are actively expanding their active adult holdings as the demand for this product type remains steady. Companies like Greystar and One Clover are scaling up their operations, anticipating continued interest from older adults in the years ahead.
According to the National Investment Center for Seniors Housing and Care (NIC), there are currently 780 active adult properties in the U.S. with 116,000 units, boasting an average occupancy rate of 92.6%. This surpasses the industry average rate of 85.9% in the second quarter of 2024.
Despite challenges such as fluctuating interest rates and high development costs, companies like Greystar are bullish on active adult communities. Greystar has significantly expanded its active adult assets in recent years and is committed to ongoing development in the space.
Active adult companies continue to expand
Welltower and other major investors have shown strong interest in active adult properties, driving growth and investment in the sector. Companies like Greystar and One Clover are actively developing new communities and meeting the demand for middle-market offerings.
Despite challenges in defining active adult communities, operators are innovating to offer value, activities, and a unique lifestyle to residents. Education and awareness about this product type remain important for continued growth and success in the market.
