PUBLISHER: Grand View Research | PRODUCT CODE: 1814153
PUBLISHER: Grand View Research | PRODUCT CODE: 1814153
The U.S. senior living market size was estimated at USD 907.59 billion in 2024 and is expected to reach USD 1.33 trillion by 2033, growing at a CAGR of 4.42% from 2025 to 2033. As the senior population grows, the demand for senior living facilities increases. According to the National Investment Center, a nonprofit organization in Annapolis, Maryland, the U.S. needs about 156,000 by 2025, 549,000 by 2028, and 806,000 by 2030 to fulfill the demand of residents. Moreover, according to the Consumers Unified, LLC, a consumer news and advocacy organization, the U.S. needs about 1 million new senior living units by 2040. Monitoring projections and trends in the assisted living industry is necessary for operators and owners to predict and meet the growing demand for senior living services. By understanding demographic shifts and future needs, organizations strategically position their facilities to provide high-quality care and accommodations for the ever-increasing aging population.
Senior living facilities provide housing for elderly residents with varying degrees of independence. Some individuals require personal hygiene support while nurses manage their medication. Several residents need assistance with daily activities and more comprehensive medical care. Moreover, Alzheimer's and dementia, and prevalent health issues among those in assisted living, include high blood pressure, arthritis, and heart disease. These facilities provide memory care for patients. In addition, the senior living services also include nursing facilities, which provide trained staff such as licensed nurses coordinated by doctors, with the seniors 24/7.
According to Consumers Unified, LLC, seven out of ten individuals in the U.S. require assisted living care in their lifetime.
U.S. Senior Living Market Report Segmentation
This report forecasts revenue growth at the country and regional levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033 For this study, Grand View Research has segmented the U.S. senior living market report based on facility, and region: