The construction of senior housing in the United States has reached its slowest pace in over a decade, coinciding with a growing older population. According to the National Investment Center for Seniors Housing and Care, the number of senior housing units under construction has fallen to its lowest level since 2012, with fewer than 15,000 units initiated in 2023, the least since 2010.
As occupancy rates continue to rise, reaching 89.5% in early 2026, the gap between supply and demand is becoming increasingly pronounced. The North Central Texas Council of Governments projects that the population aged 60 and over in its service area will grow from 573,265 in 2019 to 765,329 by 2024, marking a 33.5% increase in just five years.
This demographic shift highlights the urgent need for more senior housing options.
Industry analysts attribute the slowdown in construction to rising costs for labor and materials, rather than a lack of demand. Lisa McCracken, head of research and analytics at NIC, noted that many developers are hesitant to start new projects due to financial uncertainties.
As a result, the industry is currently delivering more units than it is beginning, creating longer wait times for families seeking senior housing options.
