North Carolina has emerged as a top destination for retirees, offering a mild climate, affordable living, and a high quality of life. As the state’s senior population continues to expand, demand for senior housing is rising, making it a prime market for investment in independent living, assisted living, and memory care facilities.
Why North Carolina is a Strong Market for Senior Housing Investment
1. Rapidly Expanding Senior Population
North Carolina’s 65+ population is projected to grow by over 60% by 2030, reaching more than 2 million seniors. The 85+ demographic is expected to increase by 50% between 2025 and 2035, significantly driving demand for assisted living and specialized care facilities.
2. Affordable Cost of Living
Compared to neighboring states, North Carolina offers a lower cost of living, making it an attractive option for retirees looking to maximize their savings. The state also provides lower property taxes and overall affordability, making senior housing development cost-effective while ensuring strong demand.
3. Booming Healthcare Infrastructure
North Carolina is home to some of the nation’s top healthcare systems, including Duke University Health System and UNC Health. The presence of high-quality medical care makes it a desirable location for retirees seeking easy access to healthcare services.
4. Strong Demand Across Senior Housing Sectors
North Carolina presents opportunities for investors across various senior housing categories:
- Independent Living Communities: Cities like Charlotte, Raleigh, and Asheville are seeing rapid expansion in active adult communities.
- Assisted Living & Memory Care: With a growing 85+ population, specialized care facilities are in high demand.
- Continuing Care Retirement Communities (CCRCs): These offer long-term care options for seniors, ensuring high occupancy rates and stability.
- Affordable Senior Housing: Many retirees are looking for budget-friendly senior housing options, creating investment potential in this sector.
5. Growing Secondary Markets
While major cities such as Charlotte, Raleigh, and Durham remain key investment hubs, secondary markets like Wilmington, Greensboro, and Asheville offer promising opportunities due to increasing retiree migration and lower development costs.
Investment Outlook
With its rapidly growing senior population, strong healthcare infrastructure, and affordable living environment, North Carolina is one of the most attractive markets for senior housing investment. Demand for independent living, assisted living, and memory care communities is expected to outpace supply in the coming decade, presenting lucrative opportunities for investors.
Final Thoughts
As North Carolina continues to attract retirees seeking a comfortable and affordable retirement, the need for senior housing will keep rising. Whether you are considering luxury independent living developments, assisted living facilities, or affordable senior housing projects, North Carolina offers diverse opportunities for long-term success.
Haven Senior Living Partners specializes in assisting investors in navigating the senior housing market. Contact us today to explore investment opportunities in North Carolina’s thriving senior living sector.