As of 2022, over half of the construction costs of senior housing in the United States came from hard costs such as site work, roofing, and foundation. The overall costs amounted to 333 U.S. dollars per square foot. The District of Columbia was one of the U.S. states with the highest rent for assisted living in 2021.
Average construction costs of senior housing in the United States as of 3rd quarter 2022, by type
Hard costs include most of the construction work, from the foundation and the building shell construction, to the interior finishes, landscaping, signage, and labor. Meanwhile, soft costs refer to fees, loans, design, project management, etc.
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CBRE Group. (September 14, 2022). Average construction costs of senior housing in the United States as of 3rd quarter 2022, by type [Graph]. In Statista. Retrieved December 13, 2024, from https://www.statista.com/statistics/1357612/senior-housing-construction-costs-in-the-us-by-type/
CBRE Group. "Average construction costs of senior housing in the United States as of 3rd quarter 2022, by type." Chart. September 14, 2022. Statista. Accessed December 13, 2024. https://www.statista.com/statistics/1357612/senior-housing-construction-costs-in-the-us-by-type/
CBRE Group. (2022). Average construction costs of senior housing in the United States as of 3rd quarter 2022, by type. Statista. Statista Inc.. Accessed: December 13, 2024. https://www.statista.com/statistics/1357612/senior-housing-construction-costs-in-the-us-by-type/
CBRE Group. "Average Construction Costs of Senior Housing in The United States as of 3rd Quarter 2022, by Type." Statista, Statista Inc., 14 Sep 2022, https://www.statista.com/statistics/1357612/senior-housing-construction-costs-in-the-us-by-type/
CBRE Group, Average construction costs of senior housing in the United States as of 3rd quarter 2022, by type Statista, https://www.statista.com/statistics/1357612/senior-housing-construction-costs-in-the-us-by-type/ (last visited December 13, 2024)
Average construction costs of senior housing in the United States as of 3rd quarter 2022, by type [Graph], CBRE Group, September 14, 2022. [Online]. Available: https://www.statista.com/statistics/1357612/senior-housing-construction-costs-in-the-us-by-type/
