Projected Resident Fee Increases for Senior Living

This document is a report detailing the findings of Ziegler's CFO Hotline survey regarding resident monthly fee increases for the years 2024 and 2025. The survey, which has been conducted for over a decade, received responses from over 250 CFOs and financial professionals primarily from not-for-profit senior living organizations. The report outlines the median percentage increase for independent living monthly fees, which is projected to be 5.00% for 2024, a decrease from the previous year's 6.00%. Additionally, the report provides a breakdown of fee increases by region, levels of care, and contract type. New questions regarding entrance fee increases were included in this year's survey, with findings indicating a projected median increase of 4% for 2025, down from 5% in 2024. The report also discusses the primary drivers behind these fee increases, including employee wages and inflation pressures, as well as factors influencing entrance fee increases such as the housing market and capital improvement costs.