The construction of senior housing in the United States has fallen to its lowest rate in 14 years, coinciding with a growing population of older adults. Nationally, fewer than 15,000 senior housing units were initiated in 2023, marking the fewest starts since 2010.
The occupancy rate for senior housing has risen for 19 consecutive quarters, reaching 89.5% in early 2026, indicating a significant demand that is not being met by new construction.
In North Texas, the population aged 60 and over is projected to increase from 573,265 in 2019 to 765,329 by 2024, representing a 33.5% rise in just five years. This demographic shift is not matched by construction, as the average time to complete a project has extended from 21 months in 2017 to 29 months in 2023.
With construction costs and financing challenges persisting, many developers are hesitant to begin new projects, resulting in a market where the supply of senior housing is not keeping pace with demand. Families searching for senior living options may face fewer choices and longer wait times as a result of these trends.
