Recession-Proof REITs: Senior Housing Demand Bounces Back After Two Catastrophic Years

Few places seemed riskier during the early, pre-vaccine peaks of the Covid-19 pandemic than nursing homes and senior housing facilities. That includes Arbor Court Retirement of Topeka, the oldest retirement community in Topeka, Kansas.

“There was a lot of fear,” says Linda Clements, the director of business development at Arbor Court of Topeka, an independent living community for people 55 and older. Arbor Court contained the few Covid outbreaks it experienced – the 58-apartment community saw one Covid-related death. Nevertheless, like many senior housing communities, the business struggled during the pandemic to bring in new residents to fill empty apartments when residents either passed away or moved to facilities offering more medical care.

Highly publicized Covid deaths at nursing homes early in the pandemic forced many families to rethink congregate living and long-term-care plans, but experts and senior housing groups say demand is now picking back up.

Click to