2021 | Mid-Year Texas Seniors Housing & Care Market Report

HOUSTON - Sept. 7, 2021 - PRLog -- Key Takeaways

• Occupancy up quarter over quarter, but down annually
• Absorption increased quarterly and annually
• Average rents rose over the year and over the quarter
• New supply increased over the quarter and year-over-year
• Sales volume still below pre-pandemic levels

Texas Highlights

Texas' 2020 population reached over 29.3 million, an increase of 6.9% over the last five years. The population is forecasted to increase 7.4% between 2020 and 2025, adding 2.2 million residents. The demographic representing the largest segment of population are 5-9 years (7.42%) and 25 to 29 years (7.4%). Seniors 65 and older represent 13.2 percent of Texas' population, or 3.9 million residents. The population segment with the largest growth between 2015 and 2020 are seniors 70-74 years old, growing 31 percent.

Pricing & Sales Volume

Average sales prices for the different senior care sectors experienced a spike in Q1 2021, but continued to decline in Q2. As a result, Texas's average price per unit fell by... To read the full report, click here: https://www.colliers.com/en/research/houston/2021-houston...