As the baby boomer generation retires, the industry of Assisted Living Facilities will continue to grow. At 2.9% per year, the number of seniors 65 years and older will increase. Although the industry has had to face many challenges over recent years, an increasingly elderly population is a clear sign that there is strong demand for assisted-living facilities.
Statista predicts that the U.S. assisted-living industry will reach $82 billion in 2020. This is a 5.3% annual growth rate. The number of facilities will vary from one state to the next. The National Center for Assisted Living reports that there are over 30,000 assisted living communities in the country with more than a half million registered beds. There are 33 assisted living beds on average, while the largest facilities can house more than 100. The smallest facilities usually have between 4 and 10 beds.
The market for assisted living facilities will continue to grow due to the increasing number of chronic diseases in the elderly population. As we age, the number of chronic diseases such as Alzheimer’s and Parkinson’s increases. ALFs are attractive options because the costs of hospitalization for these patients can be prohibitive. These facilities offer high-quality care and can help residents keep active and involved in social and recreational activities.
The housing crash had a negative effect on senior housing, but construction is now picking up. The senior housing industry has seen the newest construction since 2007. This industry is also impacted by the growing number of people moving to the southeast U.S. In the coming years, there will be many challenges for this industry.
After a significant boom in the increase of indivduales entering old age. Assisted living facilities are expected to continue to boom. As many people from other states located within the USA seek a warmer climate. It is no wonder that assisted living facilities in Homestead, FL are starting to see drastic increases in residents. Sunny Hills ALF of Homestead, FL has been one of those facilities and the team there anticipate that this growth will only continue.
Company Name: Sunny Hills Assisted Living Facility Homestead, FL
Email: Send Email
Phone: (305) 258-2222
Address:25268 SW 134th Ave
State: FL 33032
Country: United States