Independent Living Rent Growth Moderates While Assisted Living Accelerates

Senior living resident rate growth moderated from levels seen in 2025 for independent living and accelerated for assisted living, according to new NIC data. 

In March, NIC data showed that year-over-year rate growth for in-place and asking rates was 6.1% and 7.4%, a deceleration compared to the same period last year.

Assisted living showed strong year-over-year rate growth across all rate types, NIC data shows. Year-over-year rate growth for in-place, initial and asking rates for the product type was 6.5%, 7.8% and 7.2% respectively.

Independent living properties saw 14.9% year-over-year initial rate growth in 2025, and that shrunk to 2.3% in the first quarter of this year. By contrast, assisted living year-over-year rate growth in March 2025 was 1.8% and increased to 7.8% this year, according to the report.

In March 2026, independent living discounts reached 11.2% ($543 or 1.3 months annualized), up from 0.8 months in 2025. On the flip side, assisted living discounts softened slightly to 7.3% ($515 or 0.9 months annualized), down from 1.0 month the previous year.

This difference in discounting shows the “different rate dynamics” of the property types, NIC Senior Principal Omar Zahraoui told Senior Housing News.

“The relatively wider discount for IL suggests that initial rates grew more slowly than asking rates,” Zahraoui said. “While IL demand remains strong and this may reflect a more competitive leasing environment in some markets, discounts alone are not a direct measure of demand and should be viewed alongside occupancy and market-specific conditions.”

In 2025, independent living communities saw higher rent growth than assisted living properties, with in-place rates for independent units rising by 8.1%.

A separate report by NIC regarding continuing care retirement communities (CCRCs) found that the average monthly asking rent for life plan communities “continues to be higher” than non-CCRC communities in the first quarter. Also in the quarter, entrance fee CCRCs outperformed rental CCRCs in occupancy.

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