2022 | Mid-Year Texas Seniors Housing & Care Research & Forecast Report

HOUSTON - Rezul -- Key Takeaways

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

Texas Highlights

Texas' 2021 population reached 29.8 million, an increase of 6.8% over the last five years, growing by 1.9 million. The population is forecasted to increase 6.6% between 2021 and 2026, adding 2.0 million residents. Seniors 65 and older represent 13.9 percent of Texas' population, or 4.1 million residents. Other large demographic groups include 25 to 29 years (7.7%) and 30 to 34 years (7.3%).

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The Texas Seniors Housing overall occupancy rate rose 480 basis points year-over-year and increased 170 basis points over the quarter. The average monthly rent rose 4.0 percent on an annual basis from $3,840 to $3,993.

Pricing & Sales Volume

Median sales prices for the different senior care sectors rose over the first half of 2022 when compared to the end of 2021. Texas' median price... Read the full article here: https://www.colliers.com/en/research/houston/2022-houston-mid-year-seniors-housing-and-care-report