Evaluate the feasibility of retrofitting U.S. indoor malls into senior living facilities.
To provide the following:
- Consumer profile of people who live in senior communities (e.g. nursing homes, assisted living, retirement communities etc) in the U.S.
- Demographic data of people living near Kenner, Louisiana that might live in a senior community.
- Industry overview of retirement/nursing communities in the U.S.
- Data about the number of senior community facilities and beds in Louisiana (e.g. nursing homes, assisted living, retirement communities).
- Competitive landscape of senior living communities in/around Kenner, Louisiana (e.g. nursing homes, assisted living, retirement communities). For each, include available pricing information, amenities, and business model.
- Some examples of U.S. facilities that offer hybrid living situations for seniors.
Consumer profile of people who live in senior communities (e.g. nursing homes, assisted living, retirement communities etc) in the U.S.
- "Senior living communities provide homes for older adults
who generally need assistance in managing basic activities
that are part of their daily routines, but who also seek socialization and engagement in their surroundings."
- In the U.S. 53% of people living in senior living communities are above the age of 85, while 30% are between 75 and 84, and 10% are between 65 and 74. Only 7% are below age 65.
- In the U.S. 84% of people living in senior living communities are non-hispanic white, 4% are non-hispanic black, 3% are Hispanic, and 9% are non-hispanic other races.
- In the U.S. people living in senior living communities need the following assistance the most: 62% for bathing, 47% for dressing, 39% for toileting, and 20% for eating.
- Senior living communities consist of 70% females and 30% males.
Demographic data of people living near Kenner, Louisiana that might live in a senior community.
- The city of Kenner Louisiana has a total population around 66,350 people. The average household income in the city is $72,582 with median rental costs around $963 per month.
- Age: There are around 9,200 people in Kenner over the age of 65. There are about 5,360 over the age of 70, and about 2,560 over the age of 75.
- Gender: 50.66% of the population in Kenner is female.
- Race: 63.88% of the population in Kenner is white, 24.26% are black, 4.44% are Asian, 2.07% are a mixed race, 0.41% are Native American, and 4.94% are another race.
- Kenner is located in Jefferson Parish county. In this county, the population is around 432,500 and 17.1% of the population is over the age of 65, while 51% are female. About 65% are white, 28% are black, 14.9% are Hispanic, and 4.2% are Asian.
Industry overview of retirement/nursing communities in the U.S.
- Retirement communities in the U.S. have a market size of around $73.4 billion as of 2020, with a market growth of 2.6% CAGR between 2015 and 2020. There are around 43,006 retirement communities in the U.S. as of 2020.
- Residential senior care franchises in the U.S. have a market size of $4.8 billion as of 2020, growing at a rate of 10.3% CAGR between 2015 and 2020. "The primary positive factors affecting this industry are high industry assistance and a growing life cycle stage."
- "The average age of residents in assisted living facilities is about 87, according to the Assisted Living Federation of America. Growth in the population of adults aged 65 and older and an increase in the average age of this group will strengthen industry demand. As people age, they require more assistance with the activities of daily living, such as bathing, eating and dressing. The number of adults aged 65 and older is expected to increase in 2019, representing a potential opportunity for the industry."
Data about the number of senior community facilities and beds in Louisiana (e.g. nursing homes, assisted living, retirement communities).
- The NAICS code for continuing care retirement communities in the U.S. is 623311. "This U.S. industry comprises establishments primarily engaged in providing a range of residential and personal care services with on-site nursing care facilities for (1) the elderly and other persons who are unable to fully care for themselves and/or (2) the elderly and other persons who do not desire to live independently. Individuals live in a variety of residential settings with meals, housekeeping, social, leisure, and other services available to assist residents in daily living. Assisted living facilities with on-site nursing care facilities are included in this industry."
- As of 2016, there were 34 establishments operating under NAICS code 623311 in Louisiana, according to the U.S. Census Bureau.
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