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
Characteristic
U.S. dollars per revenue unit
U.S. dollars per square foot
Share of total costs
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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 July 22, 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 July 22, 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: July 22, 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 July 22, 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/
