The demand for senior living and care is at an all-time high.
Thanks to an aging population of “Baby Boomers,” America’s senior population is experiencing unprecedented growth. As a result, the demand for senior living and care is at an all-time high – and the trend is predicted to continue for decades.
Here's a few key facts about the senior care industry of today and tomorrow:
- By the year 2020, 1 in 4 Americans will be over the age of 65.
- Approximately 70% of people age 65 and over can expect to use some form of long-term care during their lives.
- There are 40.2 million people age 65 and over in the U.S. today. This number is expected to reach 80 million by 2040.
- The average life expectancy of Americans has increased 15 years since 1935. As we live longer than ever before, more senior care is needed to address our needs.
- There are currently over 60,000 senior care facilities in the U.S.