The construction of senior housing in the United States has slowed to its lowest rate in 14 years, coinciding with a growing population of older adults. The National Investment Center for Seniors Housing and Care reports that the number of units under construction has fallen significantly, with only 15,000 new units started in 2023, the fewest since 2010.
In North Texas, the population aged 60 and over is projected to rise sharply, from 573,265 in 2019 to an estimated 765,329 by 2024, marking a 33.5% increase in just five years. Despite this growing demand, the construction pipeline has not kept pace.
The average construction time for senior housing has increased from 21 months in 2017 to 29 months in 2023, and occupancy rates have risen for 19 consecutive quarters, reaching 89.5% in the first quarter of 2026.
Lisa McCracken, head of research and analytics at NIC, indicated that the slowdown in construction is primarily due to elevated costs for labor and materials rather than a lack of demand. As financing challenges persist, the gap between the need for senior housing and its availability continues to widen, complicating planning for families seeking options for aging relatives.
