The construction of senior housing in the United States has reached its slowest pace in over a decade, coinciding with a growing population that requires these services. According to the National Investment Center for Seniors Housing and Care, the number of senior housing units under construction has dropped significantly, with fewer than 15,000 units started in 2023, the lowest figure since 2010.
Occupancy rates for senior housing have been on the rise, reaching 89.5% in the first quarter of 2026. This increase in occupancy has not translated into new construction, as the average construction time has extended from 21 months in 2017 to 29 months in 2023.
The gap between construction starts and demand is particularly notable, with only 29% of units under construction having begun within the past year, a record low.
In North Texas, the population aged 60 and over is projected to grow significantly, with estimates indicating an increase from 573,265 in 2019 to 765,329 by 2024, representing a 33.5% rise. This demographic shift underscores the urgent need for more senior housing options, yet the construction industry is hindered by high costs and financing challenges, limiting new project initiation despite rising demand.
