The construction of senior housing in the United States has hit a 14-year low, coinciding with an increasing population of seniors. This trend is attributed to rising financing costs, which have led to a significant slowdown in new developments.
Nationally, fewer than 15,000 senior housing units were initiated in 2023, marking the lowest annual total since 2010. The average number of new starts has dropped further, with three of the last four quarters seeing figures below 2,000 units. As a result, the occupancy rate for senior housing has risen for 19 consecutive quarters, reaching 89.5% in early 2026.
In North Texas, the population aged 60 and over is projected to grow by 33.5% within five years, from approximately 573,265 in 2019 to an estimated 765,329 by 2024. This demographic shift highlights the increasing demand for senior housing, which is not being met by the current construction pace.
The North Central Texas Council of Governments indicates that the older population's share will rise from 18.3% to 23.3% during this period.
While the region is still seeing some construction activity, it primarily focuses on independent living facilities, which are less intensive in care and capital compared to assisted living options. The gap between the rising demand and the limited supply underscores the challenges families face when seeking housing for elderly relatives.
