Once again on the seniors housing side, the Northeast region has topped the charts for the seventh year in a row (per the 22nd Edition of The Senior Care Acquisition Report), rising to new heights at $292,900 per unit, up 46% from $201,100 per unit in 2015 and even up 4% from 2014’s average of $281,700 per unit. With its high land values and construction costs, it is not surprising that the Northeast has the highest prices. Plus, the Northeast properties are generally in heavily populated, wealthier areas, driving rents up. The West, dominated by sales in expensive markets such as Los Angeles, San Francisco and Seattle, not surprisingly was valued second-highest among the regions, averaging $226,300 per unit, or 21% higher than 2015’s $186,600 per unit. The Southeast and South Central regions followed, averaging $212,700 per unit and $178,900 per unit, respectively. As it historically does, the North Central region saw the lowest average price, at $138,900 per unit, down from the $150,400 per unit recorded in 2015.
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