The construction of senior housing units in the United States has dropped to its lowest level since 2010, coinciding with an increase in the older population. The National Investment Center for Seniors Housing and Care reports that fewer than 15,000 senior housing units were started in 2023, marking a significant decline in new developments.
Occupancy rates for senior housing have been rising, with the first quarter of 2026 seeing occupancy reach 89.5%. This trend indicates a growing demand for senior living options, yet the construction pipeline remains constrained. Analysts attribute this slowdown to high costs of labor and materials, which have deterred builders from initiating new projects despite the increasing need.
In North Texas, the population aged 60 and over is projected to grow significantly, from 573,265 in 2019 to an estimated 765,329 by 2024, representing a 33.5% increase. This demographic shift underscores the urgency for more senior housing options, as current construction efforts do not match the rising demand.
The local development landscape reflects a focus on independent living facilities, which are less intensive and less costly to develop, rather than on assisted living or memory care options.
