Mid-Year 2019 | Texas Seniors Housing | Market Reports
Texas seniors housing market sales volume up 63% over the year
Texas' job growth increased by 2.5% over the year, according to recent data released by the Texas Workforce Commission. The state created 315,600 jobs (not seasonally adjusted) between June 2018 and June 2019. During the same time period, the nursing and residential care facilities sector grew by 2.8% on an annual basis. The report also listed the largest growth in occupations with registered nurses topping the list in June 2019.
Texas' population grew by almost 380,000 in 2018 and is projected to increase by nearly 477,000 in 2019. According to the U.S. Census Bureau, the state's growth has slowed its natural increase over the last four years, and migration, both international and domestic have declined. In 2018, there were 3.6 million residents age 65 and older in Texas or about 12.5% of the total population. According to the Texas Demographic Center, this number is projected to grow to 5.6 million, or 16% of the population by 2030, and to over 8 million, or 17.5% of the population by 2050.
Supply and Demand Trends
The National Investment Center for Seniors Housing and Care (NIC) reported an increase of... Read the full report here: https://www2.colliers.com/
Lisa Bridges | Director of Market Research