The construction of senior housing in the United States has reached a 14-year low, coinciding with a growing need for such facilities. According to the National Investment Center for Seniors Housing and Care, the number of units under construction has decreased significantly, with fewer than 15,000 new units started in 2023, the lowest since 2010.
While occupancy rates have been rising, reaching 89.5% in early 2026, the supply of new housing has not kept pace with demand. The average construction time has extended from 21 months in 2017 to 29 months in 2023, leading to a backlog of projects.
Lisa McCracken, head of research at NIC, noted that rising costs for labor and materials have deterred builders from starting new projects, creating a financing issue rather than a lack of market interest.
In North Texas, the population aged 60 and over is projected to grow from 573,265 in 2019 to 765,329 by 2024, a 33.5% increase. This demographic shift underscores the urgent need for more senior housing, even as construction slows. The current pipeline reflects a trend toward independent living facilities, while more intensive care options remain scarce.
