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Pandemic Causes Average Assisted Living Price Per Unit to Plunge, Skilled Nursing Values Also Dip, According to New Acquisition Report From Irving Levin Associates, LLC
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NEW CANAAN, Conn. (PRWEB) February 25, 2021
The COVID-19 pandemic severely impacted the seniors housing and care industry in 2020, causing average values to drop across each sector, year over year. The average price per unit for seniors housing communities, which comprise both assisted living and independent living, fell to $196,200 per unit in 2020, a 20% decrease over 2019’s average, according to new acquisition data from Irving Levin Associates. That market was driven by a large number of sales of lower quality assisted living communities, which led to the average assisted living price plunging by 30% from $248,400 per unit in 2019 to $174,700 per unit in 2020. Meanwhile, independent living saw a more modest decrease in average price from $23