Bringing Clarity to a Complex Market: 55+ Communities, CCRCs / Life Plan Communities & Assisted Living
In the US, there are 122 million Americans aged 55+. Many of them will soon be making decisions about various senior living options. To personalize our senior living market segmentation examples, I’ll share the stories of Tom, Linda and James, who have each chosen to join a senior community.
Tom, Linda & James:
3 Journeys in Senior Community Living
A retired market research executive, Tom, whom I’ve known and respected for more than 25 years, recently shared in 2025 that he and his wife are planning to move to a CCRC (Continuing Care Retirement Community), also known as a Life Plan Community, in Ponte Vedra, Florida.
Tom and his wife have been retired 12 years, living in a series of three homes that they bought since retiring and moving from out of state to South Carolina. At this point, they feel they will be better off living in a community that can readily offer healthcare support if needed, and one that supports “aging in place” in their own residence in the community.
Tom’s plan is to sell their South Carolina home this April and rent a place close to the two CCRC communities in Northeast Florida that they are considering: Vicar’s Landing and Fleet Landing. Tom and his wife are currently on the waiting list for both and expect to be able to trial the facilities as visitors while waiting for an opening. They also plan to make friends in the communities and ultimately move into one of them when a suitable place is available. Unlike other retirees I’ve spoken with, Tom and his wife are highly confident in their ability to make new friends in a new community, an important factor in happiness.
Tom says,
“I also think that there’s a timeframe for decompressing when you retire and that you should be mindful of where and how you move. I’ve been retired now for at least 12 years and been though that adjustment. Locally, the people that I know that are in a true 55+ community are most likely to be single women and men not couples. Couples who have recently retired are more likely to downsize to a smaller home or to get a condo. I do agree that the culture of the community and your ability to fit within is ultimately very important. That’s why we’re going rent for a year or two while we use the visitation privileges of the two life plan communities in Florida and help determine which is the better fit for us and if we find out that neither are then we go to Plan B. In conclusion for us the important issue is a non-home ownership experience. A 55+ community is homeownership. A life plan community is non-homeownership with additional levels of care available as you need it.”
After talking with Tom, I became curious to learn more about my Aunt Linda’s journey in selecting her CCRC community, Green Ridge Village, in Newville Pennsylvania, part of Presbyterian Senior Living. Her situation was like Tom’s in that she was living in her home in a different state and decided that she would be better off moving to a community that made healthcare support easier to access. Her focus is on “aging in place” in her cottage for as long as possible. Linda moved in three years ago, and I visited her at Green Ridge Village in 2023.
Linda spells out her desires,
“With a life plan community, you should be able to stay in your residence there until you are ready to move on to the next life. The reason I got a two-bedroom cottage is to have a place for full-time aid to stay if I needed it and I have the resources to pay for it. I would prefer to stay in my cottage as long as possible versus having to go to the health facility. Of course, if I have a specific need like recovery from hip surgery, I would call the health center and let them know I’d need a temporary stay….I know our community is committed to helping residents ‘age in place’ in their homes and is currently talking to each resident to assess needs and develop additional services if needed.”
I enjoyed experiencing the Green Ridge Village lifestyle, complete with golf carts to get around, a great community garden and beautiful rural setting, exercise classes, Sunday brunch and more.
Linda also introduced me to one of the executives onsite who is currently exploring how to better support their residents for “aging in place,” and this made me curious about the broader industry and its trends.
My friend James and his wife Sue are following a similar, but different journey, as they are unexpectedly requiring assisted living support after 50 years in their home (not part of a retirement community). After several falls that Sue recently had, she requires help for several daily activities. They are currently evaluating three local communities, with the plan to move directly into the assisted living section (not independent living, as it does not meet their needs). The facilities that they are looking at are: Presbyterian Village, Lanier Gardens and The Orchard.
It’s stressful to make this decision under duress, but they are looking forward to the change.
Sue says, “It’s a good idea to make a change every so often. I enjoy being with James, and I (will) enjoy other people cooking my food. I’m looking forward to the change.”
James says, “We spent 50 years in the house trying to make everything beautiful. It’s hard to walk away. I remember when my parents moved from Pennsylvania to Florida and had to sell the metal porch glider that had so many nice memories.”
While there are many variations, broadly speaking, there are different choices for those who choose to live in a senior community. Together, these make up the “Senior Community Living Market,” which are divided into several categories:
- 55+ communities
- Life Plan Communities / CCRC (Continuing Care Retirement Communities)
- Assisted Living communities
- Skilled nursing facilities
- Memory care facilities
The senior living market landscape is fragmented, and while there are organizations with multiple locations, there are also many one-location organizations, ranging from massive (The Villages) to much smaller. After considering the data, I elected to focus primarily on two or three senior living market segmentation examples in each category: 55+, Life Plan Community / CCRC, and Assisted Living.
Senior Living Market Segmentation Examples:
Estimating the Total Available Market Size for Senior Community Living Market
Before analyzing market segmentation examples, it’s important to estimate the size of the market. Using Census Data as of 2023, there are 53 million American adults between the ages of 55 and 64 living in 23 million households and an additional 69 million ages 65+ living in 38 million households. The combined total of Americans ages 55+ is 122 million adults living in 61 million households. There is a difference in terms of household size, with the average household size for 55 to 64 at 2.3, while the average household size of 65+ is 1.8.
There are roughly 11 million households in the 55 to 64 age category, with $100,000 or more in annual income and another five million households with income between $50,000 to $99,999. The combined total households in 55 to 65 with $50,000 or greater income is 16 million households, or approximately 37 million Americans.
If just five to 10% of the 55 to 65 market elects to choose a senior living alternative, this would be 800,000 to 1.6 million households, or roughly four million people, all with incomes above $50,000.
With an average retirement age of 62, the consideration for senior living options is likely to increase throughout the sixties and definitely increases further as consumers are in their seventies, based on average age of entering 55+ communities and CCRCs.
Focusing only on the 75+ age category, there are nearly 16 million total households, and 27 million consumers. Of these, three million households have income above $100,000, representing five million consumers. Additionally, there are another four million households in the $50,000 to $99,999 income ranging, representing seven million consumers. Combined, that’s seven million households above age 75 with $50,000+ household income. Since the 75+ category is the closest to average age of entry, capturing 10% of the $50,000 plus portion of this market would be 700,000 households or 1.1 million consumers. Moving up to 20% would make this market 1.4 million households or 2.2 million consumers.
| Age Category | 55-64 | 65-74 | 75+ | Combined 55+ |
| Total Number of US Households (M) | 23M Households | 22M Households | 16M Households | 61M Households |
| Number of US Households with $50K+ Income | 16M Households | 13M Households | 7M Households | 36M Households |
| Total Number of Americans (M) from Census | 53M People | 42M People | 27M People | 122M People |
| Number of Americans in HH with $50K+ Income | 37M People (estimated based on households) | 24M People (estimated based on households) | 11M People (estimated based on households) | 72M People (estimated based on households) |
| # of People Per Household | 2.3 | 1.9 | 1.7 | 2.0 |
| 5% of $50K+ Market for Community Senior Living | 1.8M People 800K Households | 1.2M People 650K Households | 550K People 350K Households | 3.55M People 1.8M Households |
| 10% of $50K+ Market for Community Senior Living | 3.7M People 1.6M Households | 2.4M People 1.3M Households | 1.1M People 700K Households | 7.2M People 3.6M Households |
| 15% of $50K Market for Community Senior Living | Not calculated | 3.6M People 1.9M Households | 2.2M People 1.4M Households | Not calculated |
A 2019 source found that the average age of entry into senior living communities is between the ages of 75 to 84. This is consistent with roughly age 73 that I found in several of the specific examples that follow.
A 2021 study found that 88% of adults 65+ or 49 million people lived in their own home, while (this does not specify if the home is in a senior living community), while another five million (9%) lived with family. This same study also found that just 13% of 75+ households are able to afford assisted living and 14% are able afford in-home care. This affordability constraint means 15% market penetration is a good high-side estimate in calculating the addressable market.
Senior Living Market Segmentation Examples for 55+ Communities:
The Villages, Leisure World at Seal Beach & Hawthorne at Leesburg
55+ Communities are senior living communities that focus on independent living, 55+ demographic, and home ownership. These communities do not offer a long-range plan if residents’ healthcare needs change.
According to industry sources, there are over 2,000 of these “purpose-built multifamily housing for seniors with an emphasis on community and activities” in the US.
While none of the consumers that I spoke with were considering 55+ communities, this is a large market that addresses the needs of many senior consumers. The size of this market segment is not readily available.
Two well-known examples of 55+ communities are The Villages, Florida and Leisure World, Seal Beach (and other locations). For each, I looked at residents/households, revenues, resident demographics, pricing, ratings/reviews and healthcare options. I’ve also included Hawthorne at Leesburg as a third example based on personal family experience.
1. 55+ Community: The Villages, Florida, Located Northwest of Orlanda, Florida
The Villages (owned by the Morse family) was rated number one as the best place to retire for middle class Americans, according to GoBankingRates.
Residents/Households: The Villages is a large organization, with over 150,000 residents, 75% claim to live there full-time. This organization boasts 42 executive golf courses and 32 acres, stressing active lifestyles and myriad activities. The Villages grew from humble beginnings as a mobile home park called Orange Blossom Gardens when created in 1972, with the name changed to The Villages in 1992.
Revenues: In 2024, The Villages had over 3,208 new home sales, up 6% from 2023. With median 2024 sales prices of $380,000 this translates to $1.2 billion in new home revenues for the developer. Amenity fees are now $199 per month, which results in another $167 million in revenue. Regular yearly increases in amenity fees are ongoing.
Resident Demographics: In 2020, Census data showed 47,000 households in The Villages. Currently The Villages claims 70,000 households. Census data found 85% of residents are 65+, and household income of $76,000 (2019-2023). Another source reported The Villages median age at 73.4.
Pricing: A quick website review showed pricing starting at $924 per month in fees, while Census data shows median gross rent at $1,541 (2019 to 2023) and median selected owner occupancy costs of $1,663. With many residents on fixed income and the promise of affordability, a 25% jump in property taxes in 2019 resulted in a protest.
Ratings/Reviews: Online reviews for The Villages tout pros and cons, with an average of 3.5 out of 5. AARP gives The Villages a 51 Livability score (out of 100), with the strongest marks in housing (62).
Healthcare Options: The Villages has seven onsite primary care centers and three specialty health centers as well as UF Health Hospital, and UF Health Freestanding ER. As The Villages website states: “Conveniently located throughout our community and accessible by golf car, you’ll find best-in-class medical facilities for all your primary, specialty and hospital care needs.”
2. 55+ Community: Leisure World
This is a well-known brand among my friends in Southern California, with the Seal Beach location particularly recognized in our area. The Seal Beach Leisure World is one of seven Leisure World properties. Leisure World Seal Beach began selling in 1962, dubbing itself “a planned active senior community offering guard-gated 24-hour security, on-site medical services, churches, latest amenities and great location.”
Residents/Households: Compared to The Villages, Leisure World is relatively small, despite having a combined 53,000 plus residents across all locations (not just Seal Beach).
Today, Leisure World locations include three in California: Seal Beach (6,600 households and 9,000-10,000 residents on 531 acres), Laguna Woods Village (12,000 households, 18,000 residents), Rossmoor Walnut Creek (6,700 households, 9,600 people). There are several states outside of California with just one location, including one in Rossmoor, New Jersey (2,300 households, 3,000 residents), one in Silver Spring, Maryland (5,660 households, 8,000 residents), one in Mesa, Arizona (2,660 homes, 4,000 residents) and one in Lansdowne, Virginia (1,112 households, estimated 2,000 residents).
Overall, there is considerable size and scale variation with between 2,000 to 18,000 residents in different locations for Leisure World.
Revenues: Revenues vary considerably between Leisure World locations. For instance, Seal Beach Leisure World published earning $213.25 per month or $2,559 per year per apartment in 2024. The Seal Beach Leisure World spending plan was $24 million.
Resident Demographics: As a community dating back decades, Leisure World in Seal Beach and Laguna Hills have a component of older residents who are no longer able to be highly active. One survey found a full 20% of Laguna Hills Leisure World residents were disabled and the average age was 79 in Seal Beach Leisure World in 1992.
In 2019, the average age of a Seal Beach Leisure World resident was 74, with fully one-third of the residents above age 80. Other sources place the average age at 73, with roughly 65% women. This average age is similar to The Villages. Leisure World Seal Beach residents’ household income was estimated at $99,000 in 2023.
Interestingly, the Virigina location changed its name away from the Leisure World brand in 2015 because many of its 55+ residents were working, to become Lansdowne Woods of Virginia. With an average US retirement age of 62 in 2024, many 55+ years olds fall into the non-working category.
Pricing: Online pricing for Leisure World homes rose to around $350,000 in December 2024 and January 2025. Looking at the past three to five years, these prices have been relatively flat since May 2022. In 2020, 2021 and early 2022 prices were lower from $250,000 to $300,000. There is a buy-in fee of $4,831 (in 2023) plus mutual-specific fees for orientation. Like The Villages, Leisure World homeowners will also pay a monthly homeowners association fee, ranging between $650 to $1,250 per month in 2021. In January 2025, Seal Beach Leisure World residents protested increases in fees of 24%, ahead of inflation of 8%.
Ratings/Reviews: Leisure World Seal Beach received a 4.3 out of 5.0 rating on birdeye.com. AARP gives Leisure World Seal Beach a 56 Livability Score, with strong marks on housing (85) and health (77).
Healthcare Options: Leisure World Seal Beach highlights that residents can access nearby healthcare, with onsite medical care at the Optum Health Care Center.
Because of the very human nature of these market segmentation examples, I want to share a personal story of life in a 55+ community. I have many fond memories of spending time with my grandparents in the 1970’s when they moved to a Florida 55+ active retirement community, Hawthorne at Leesburg, with its convenient central Florida location within a few hours of their children and grandchildren.
As a child and teenager, I enjoyed spending family time at Hawthorne at Leesburg, using the pool during children’s hours, playing shuffleboard and even competing in a shuffleboard tournament. In one notable incident, my cousin and I were bike riding, and I parked my grandmother’s three wheeled bike by the side of a lake, so I could sit on the bench and look at the ducks. Suddenly, my cousin said, “there is a bike in the lake” and then “it’s our bike.” The heavy, three-wheeled bike rolled into one of the lakes on the property and could not be recovered by one person (I tried). My family enjoyed laughing about this, telling the tale of a crew in a boat with heavy equipment needed to fish the bicycle out, and the fact that the bike was never quite the same after its baptism.
For nearly fifty years, Hawthorne at Leesburg offered solely independent living to its approximately 1,500 to 2,000 residents (some residents are seasonal only. Compared with the other examples here, independent living pricing is affordable, with monthly HOA fees. Median resident age is 75.2, and median household income is $37,000 with median home prices at $137,000 and close to 100% occupancy. Monthly HOA fees are $346 per month. Interestingly, Voices of America spotlighted Hawthorne, along with the much-larger The Villages, as a community where residents “live it up.”
Notably in 2024, an assisted living facility with separate services, called Hearthstone at Leesburg was opened with monthly fees of $4,498 per month (completely separate from the independent living community). I recall my grandfather driving 20 to 30 minutes each way to spend time each day with my grandmother when she was living in a skilled nursing facility, and while he never complained, having an onsite location would have made his life much easier.
The Hawthorne example of a 55+ community that previously only offered independent living expanding into assisted living is not isolated. For instance, while it is a separate organization from the Villages, the #3 nationally ranked CCRC is Freedom Pointe at The Villages. As a CCRC, Freedom Pointe offers independent living, assisted living, memory care, skilled nursing and rehab.
Senior Living Market Segmentation Examples for Continuing Care Retirement Communities (CCRCs):
Roland Park Place & Vicar’s Landing
Continuing Care Retirement Communities, also called Life Plan Communities, offer their residents the ability to stay in one place as their needs change.
The Life Plan Community “new” name was chosen by a taskforce in 2014, and preferred by 84% of 65+ adults to the CCRC name for the reasons below.
“…all age groups expressed a need for a name that focuses on more than care. Life Plan Community rose to the top as the strongest replacement name, bringing together ‘planning’ and ‘living’ while accentuating personal responsibility and self-direction.”
By 2014, there were over 600,000 adults in 2,000 CCRC / Life Plan Communities, up from just 100,000 in 1980, when the CCRC term was created. Now more than a decade later, both names (CCRC and Life Plan Community) are still out in the market. In the interest of simplicity, I will primarily use CCRC.
NIC provides occupancy rates for a sample of CCRCs, but it’s hard to find a reliable source. With US adults ages 75+ at around 19 million adults in 2015, the penetration of CCRC using the 600,000 figure would have been 3% of adults. If 3% of the 27 million adults 75+ are in CCRCs in 2025, this would be 800,000 residents, but this is unconfirmed.
The phrase “aging in place” is used by the providers, but in my opinion, using “aging in place” terminologywithout qualifying itis potentially confusing as consumers may view “aging in place” as staying in their home that is not part of a dedicated senior community.
The vast majority of people, some 77% of adults 50+ to 90% of adults 65+ prefer aging in place in their own home, and they are not necessarily thinking of a CCRC for this option. Other studies find, however, that as few as 10% have made the necessary modifications to their home to allow safe aging in place to be a reality, which can lead to undesirable outcomes. There are arguments for “aging in community,” rather than staying only in the ”confines of one’s home.”
Among the people I know relatively well who are looking at making a transition to a new living arrangement, several feel that they have reached the point where owning and maintaining their own home is not desirable, saying, “I’m over homeownership.”
For these people, like Tom and Linda, CCRCs are an appealing option. To be sure, there are also 55+ communities that offer freedom from homeownership, along with amenities, but not the healthcare option provided by CCRCs.
Newsweek ranks CCRCs according to a combination of resident, medical professional and resident acquaintance surveys combined, driving 70% of the organization’s score, along with several other factors, including CARF. Tom mentioned that Moorings Park (currently ranking #4), was priced overly high for his budget, but it could be great if you can afford it.
CARF International also rates CCRCs, and its accreditation is part of the Newsweek score (10%). Comparing the lists, four on CARF International also ranked in the top 10 for Newsweek. They are Moorings Park, Roland Park Place, Blue Skies of Texas, and Givens Estates. Fleet Landing, which is one of the two CCRCs that Tom is evaluating, earned the #98 spot in Newsweek and both Vicar’s Landing and Fleet Landing are CARF-accredited.
| CARF International Accredited (partial list) | Top 10 CCRCs 2025 According to Newsweek |
| Moorings Park, Naples, Florida Roland Park Place, Baltimore, Maryland Blue Skies of Texas, San Antonio, Texas Givens Estates, Asheville, North Carolina Fleet Landing Vicar’s Landing | #1 HumanGood- Valle Verde #2 Willow Valley Communities #3 Freedom Pointe at The Villages #4 Moorings Park #5 Lifespace Communities- Freedom Village of Bloomington #6 Roland Park Place #7 Blue Skies of Texas #8 Givens Estates #9 Edgemere #10 Covenant Living of Florida #98 Fleet Landing |
Two market segmentation examples of CCRCs are Roland Park Place and Vicar’s Landing.
3. CCRC: Roland Park Place
This non-profitlocated in Baltimore Marylandwas founded in 1984. Roland Park Placeis recognized as a top 10 CCRC nationally by Newsweek and also accredited by CARF. It is located on an eight-acre urban site and clarifies its location as “Metropolitan Senior Living.”
Residents/Households: Roland Park Place has over 220 independent living apartments, with a case study claiming 90%+ occupancy in 2024 and 256 independent living residents in 2023. 58 new independent living apartments were added in 2021 (included in the 220).
Revenues: Fiscal 2023 revenues were $29.1 million for Roland Park Place and expenses were $29.9 million, resulting in a net loss. While revenues grew from $23 million in 2021, Roland Park Place also operated with a net loss for fiscal years 2021 and 2022.
Resident Demographics: One resident reported the average age at 87 in 2017. With the 2021 expansion, it’s likely that the average age of Roland Park Place residents is now in their seventies, potentially the late seventies or early eighties.
Pricing: Roland Park Place lists monthly “as low as” $3,095 or $37,140 per year. In 2021, monthly fee range was reported at $3,800 to $9,900 per month. These monthly fees cover housekeeping, dining plan, utilities and maintenance, transportation, activities, and more. There are different plans, both Type A Lifecare contracts and Type C Lifecare contracts. Recent price increases are in the 5-6% range each year.
Ratings/Reviews: Newsweek named Roland Park Place in the top 10 nationally for CCRCs. Medicare rates Roland Park Place Nursing Home as 5 stars overall or “much above average.” Going a level deeper for Medicare, Roland Park Place quality measures receive 5 stars, while staffing and health inspections both get 4 stars. The organization also achieves high scores of 4.6 on Caring.com, though most of these reviews are dated. Seniorly ratings give Roland Park Place a 7.3 community score out of 10. Roland Park Place has also earned The Great Places to Work distinction for 2024-2025, with 93% of its employees saying it is a great place to work, well ahead of its mid-sized employer peer set (57%).
Healthcare Options: As a CCRC, Roland Park Place offers a continuum of onsite healthcare options. The website touts levels of care as follows: independent living, health care center, physical therapy, ambulatory care center, personal assistance program, memory care and assisted living residential care. In addition to Independent Living, which is the largest number of units, Roland Park Place Health Center had 44 private rooms for nursing care as of 2019. The assisted living portion included 15 residential care apartments and 26 memory care apartments as of 2019. The assisted living is “for residents with temporary or permanent physical or cognitive challenges who are still safe and comfortable with an autonomous lifestyle.”
4. CCRC: Vicar’s Landing
Founded in 1983, Vicar’s Landing is a non-profit (Life Care Ponte Vedra) located in Ponte Vedra, Florida. The brand promise is to “Live Exceptionally” in a “Luxury Retirement Community in Ponte Vedra, Florida.”
Residents/Households: The original Vicar’s Landing community had 227 independent residential units, 38 assisted living units, and a 60-bed skilled nursing beds.
With the Oak Bridge expansion, independent living at Vicar’s Landing grows to 369 units and there will be proportionate growth in assisted living and nursing. Vicar’s Landing reports full occupancy for its independent living and a wait list, which costs $2,500 to join.
By comparison, nearby North East Florida CCRC Fleet Landing has 482 independent living units, up from 354 independent living along with 56 assisted living, 24 memory support and 67 skilled nursing beds, which will expand proportionally.
Revenues: Vicar’s Landing revenues were reported at $47.1 million in fiscal year 2022, against expenses of $42.8 million. The organization has taken on debt to fund expansion, with bonds of $115.6 million in 2021 and $30 million in 2022. Fitch has given the organization a BB+ rating. One of Tom’s greatest concerns is the financial stability of Vicar’s Landing and Fleet Landing given their buy-in and monthly costs.
Resident Demographics: While the Vicar’s Landing nursing home resident average age is 87, the independent living Vicar’s Landing residents are estimated to be in their seventies and eighties.
Nearby CCRC competitor Fleet Landing has an average age of independent living residents of 83, and an average entry age of 76, below the national CCRC entry average of 80. Both Fleet Landing and Vicar’s Landing residents are considered affluent.
Pricing: Vicar’s Landing is a Type A life-care community, which means it has an upfront buy-in along with monthly fees. The Oak Ridge expansion had three refund plans: a traditional plan with entry fee of $455,000 to $601,000 for a unit between 1,400 to 1,850 square feet, a 50% refundable plan for $700,000 to $926,000 and a 75% refundable plan for $978,000 to $1,290,000.
Vicar’s Landing’s monthly fees range from $5,265 to $8,250 for single occupancy, with a second-person fee of $2,150.
Ratings/Reviews: Seniorly ratings put Vicar’s Landing at a strong 9.1 community score. Like Roland Park Place, Vicar’s Landing was also recognized among the Great Places to Work in 2023 to 2024, with 92% of its employees saying it is a great place to work. It is also CARF-accredited. Vicar’s Landing Nursing Home receives a 5-star overall rating from Medicare, considered much above average. Health inspections and tours were 5 stars, while quality measures lagged behind at 2 stars. Vicar’s Landing has also received the Florida Governor’s Gold Seal.
Healthcare Options: As a CCRC, Vicar’s Landing offers a continuum of care options, including assisted living care, skilled nursing care and memory.
I also had the privilege of talking with Jamie Nye, with over 15 years market experience, who is working for Presbyterian Senior Living in the Green Ridge Village location. Ms. Nye is currently in conversations with each resident to understand what “aging in place” means for them, and in line with their mission, how Green Ridge Village can best meet their needs and “be ahead of the game.”
While Green Ridge Village already offers these services, Ms. Nye sees the opportunity to help people even more easily remodel their homes as desired, for instance, to install additional grab bars, higher toilets, or widen hallways and doorways to more easily accommodate wheelchairs. Another area of growth is to further expand home services, with more night shift workers. As we spoke, there also seems to be an opportunity to provide packages of services that make sense together in addition to an a-la-carte approach. If a resident moved in 10 years ago, for instance, they might want an “aging in place” package remodel to address their evolving needs.
Senior Living Market Segmentation Examples for Assisted Living:
Presbyterian Village, Lanier Gardens & The Orchard.
The total estimated number of seniors in assisted living is approximately 800,000. According to one report, the average cost nationally is $4,774 per month or around $57,000 per year, rising “31% faster than inflation.” The distribution of length of stay is:
- 20% who stay less than one year
- 30% who stay 1-2 years
- 40% who stay 2-3 years
- just 10% who stay more than three years
On average, for a three-year stay this comes to $172,000.
Moving directly into assisted living is another popular consumer journey, and it’s the choice for Sue and James. In the assisted living market, there are large players, such as Sunrise Senior Living (with 270 locations in the US and Canada), as well as Brookdale Senior Living (640 in 41 states).
For the purpose of this analysis, I chose to focus on the market segmentation examples that James and Sue are evaluating in Athens, Georgia. They are Presbyterian Village, Lanier Gardens and The Orchard. Since these are within a local market, it’s possible to compare them as a competitor analysis. And, they are not exclusively assisted living, but wherever possible I will focus on that aspect of their services.
5. Assisted Living: Presbyterian Village Athens
Part of the Presbyterian Homes of Georgia, Presbyterian Village Athens, promises active senior living in an exceptional life plan community. Recently opened in February 2021, the organization benefits from newly-built real estate with an exterior aesthetic striving for a “desired collegiate look.” To be clear, it is a CCRC / life plan community, but it does offer direct admission to assisted living in some cases, and that’s what James and Sue are considering.
Its website homepage image shows an attractive building exterior with the claims:
“Contemporary living meets Southern hospitality. Discover a thoroughly modern senior living experience grounded in Southern hospitality. Combining excellence and innovation with cherished traditions, Presbyterian Village Athens gives you the best of contemporary living in pastoral Oconee County, Georgia, just 10 minutes from downtown Athens.”
Residents/Households: The facility’s capacity is 300+ seniors. The facility includes 115 independent living one- and two-bedroom cottages, 12 villas, and 101 apartment homes, 40 nursing home beds and 30 personal care beds.
Revenues: In 2022, Presbyterian Village Athens (PVA) reported revenues of $18.2 million against expenses of $24.8 million. It’s hypothesized that revenues grew in 2023 and 2024 as the facility fills up.
Resident Demographics: No specific information was found on demographics. It is expected that new independent living residents will fall into the typical industry age category of 72-82, while residents going directly into assisted living, memory care and nursing care are likely older.
Pricing: There is no publicly-available pricing for Presbyterian Village Athens. As a CCRC, there is a buy-in and a monthly fee. For refence, Presbyterian Village Georgia’s monthly pricing “starts at $2,300 and can range as high as $5,695 per month, and its average monthly cost is $3,998.” It’s also not clear how direct admission to assisted living pricing would work. Online reviews suggest that anyone seriously interested should get the specific pricing in writing, as it may not be overly expensive for assisted living.
Ratings/Reviews: On seniorcare.com, Presbyterian Village Athens receives good reviews from a handful of reviewers, many of whom focus on the beauty of the facility. In contrast, Presbyterian Village Athens nursing home has a much below average one-star rating from Medicare.gov, with more details available here. Caring.com has high ratings based on just one review. For a resident who is expecting to use the care services in the short term, there may be reasons for concern based on the inspections.
Healthcare Options: There are assisted living suites as well as an on-site health center with assisted living, memory care, and nursing care accommodations under one roof.
All things considered, at this date it’s not clear if Presbyterian Village Athens is a good choice for James and Sue, who are looking to move right into assisted living, not independent living. Presbyterian Village Athens is a superb physical facility that delivers luxury and security, yet this decision would come down to friendliness of the community and staff, quality of care (currently in question) and cost. On the initial visit, James’s impression was that the residents were not as happy as Lanier Gardens.
I heard back from the Presbyterian Village with the following:
“There is a waiting list for the Assisted Living Area, and it is currently a 2 years wait, the prices is $6,430 and $4,770.”
6. Assisted Living: Lanier Gardens
Part of the Wesley Woods Senior Living organization, non-profit Lanier Gardens presents a very different picture from Presbyterian Village on its homepage, focusing on a happy senior rather than a photo of the real estate.
“The saying ‘having it all’ can come across as a cliché. Unless it is true, of course. Like at Lanier Gardens where ‘having it all’ is everyday life. There’s the desirable Athens location. Cozy, affordable apartments. Great friends. Good food. A clear focus on wellness. Safety and security. And an almost endless list of things to do, places to go and ways to be involved. You get the picture. It’s all here and it can all be yours.”
Residents/Households: The facility has 45 Lanier Gardens independent living apartments and 36 Talmage Terrace personal care (assisted living) apartments with an occupancy of 90% in 2023. Adding up to 81 total capacity, which translates to approximately 73 occupied units, suggesting that resident count ranges from 73 to 110 (assuming 1.5 person average per unit which may be high). Talmage Terrace was opened in 1999, making the facility 25 years old.
The units are relatively small, as mentioned in one review: “They are small apartments. I don’t know the exact square footage, maybe 520 square feet, maybe one bedroom living room, dining room combined, a small kitchen and bath area, so it’s adequate.”
Revenues: Revenues for Lanier Gardens were reported at $4.1 million in 2023 and expenses of $3.9 million.
Resident Demographics: Talmage Terrace residents are speculated to be in their mid-80’s, but we did not find published data available. As with other examples, the independent living residents are likely in their mid to late seventies and early eighties.
Pricing: For assisted living, there is no entry fee. Rental apartments are its business model. Pricing reported for Talmage Terrace by one source is starting at around $2,750 for a one-bedroom unit. According to one online reviewer, Talmage Terrace also offers Section 8 units that charge 30% of resident’s income, but there may be a greater than one year waitlist for these units. As their website states “This is a 202/8 community designed to provide housing to elderly and disabled families who meet the eligibility and screening requirements.”
Ratings/Reviews: Lanier Gardens does not fall into the categories rated by Medicare. Talmage Terrace has a 4.5 rating out of 5 based on 11 reviews on Caring.com. Lanier Gardens has favorable ratings of 4.7 from consumers. Talmage Terrace receives a 7.3 out of 10 on Seniorly.com. Here’s a 2021 review:
“Mom is in a particular place at Talmage Terrace called Personal Care and it is specifically appropriate for her condition. It’s kind of a cross between assisted living, which is much more independent, and nursing home care, which is not independent. The personal care floor has more focused assistance for her ongoing activities. She has a single room with a bathroom. It’s big enough. It’s a larger size room, so she can fit some of her own furniture. It’s probably smaller than what we would call a studio apartment. There’s not a separate bedroom/living room thing, like a large hotel room but it works for her. She’s wheelchair-bound, so she’s got enough room to maneuver around. The staff has been very good. They’re very kind, caring, and professional. It’s an older facility, but it’s well-cared for, well-maintained, and clean. They’ve got a daily schedule of activities. They have at least five or six things going on pretty much every day.”
Healthcare Options: Lanier Gardens has independent living units and also personal care / assisted living units in Talmage Terrace. Talmage Terrace has staff available around-the-clock to assist residents with ADLs, medication administration, and oversight of wellbeing. Lanier Gardens does not have memory care or nursing care. Overall, its healthcare options are limited. It seems a good fit for assisted living, provided that James and Sue are comfortable that they may need to move again to nursing care or memory care.
7. Assisted Living: The Orchard
The Orchard at Athens promises “Assisted Living and Memory Care Like You’ve Never Seen It Before,” with website homepage images focusing on bright, outdoor spaces in a well-landscaped space.
The Orchard at Athens is part of two-location Orchard Communities that also includes a Brookhaven site.
The space has been designed to provide memory care in “neighborhood” households to create a home-like environment for residents with dementia, and the campus features a collection of suites and semi-private suites organized into neighborhoods.
“Both of our communities are thoughtfully organized into groves based on residents’ ability, ranging from assisted living to specialized memory care groves for individuals with mid to late-stage Alzheimer’s and other neurodegenerative conditions, such as Lewy Body or Frontotemporal dementia.”
Residents/Households: The facility has a total of “85 spacious studio, 1-, and 2-bedroom suites, as well as 50,000 square feet of recreational outdoor landscape.”
The Orchard Athens Assisted Living housing options include the studio (400 square feet), one bedroom (475 square feet), premium one bedroom (540 square feet), two bedroom (625 square feet), deluxe two bedroom (680 square feet) and penthouse one bedroom (715 square feet). Floorplans are readily available on site.
The Orchard Athens Memory Care housing options are the garden studio (385 square feet) and the terrace studio (370 square feet).
Revenues: With 85 units, and pricing ranging from $2,750 to $7,950, The Orchard Athens revenues are likely between $3 million to $5 million at 80% occupancy, assuming just one monthly fee and resident per unit.
Resident Demographics: While we did not find published sources, The Orchard serves a clientele that is typically in their 80’s for assisted living and memory care.
Pricing: Seniorly estimates pricing at The Orchard Athens ranges from $6,250 per month to $7,950 per month. Elderlifefinancial says the cost of care ranges from $2,750 to $6,195.
Ratings/Reviews: The Orchard at Athens receives an 8.0 from Seniorly.com for Assisted Living.
Healthcare Options. A Place For Mom gives The Orchard at Athens a 7.8 out of 10 with seven reviews in the past two years. Since The Orchard at Athens is not a nursing home, it does not have Medicare reviews.
Healthcare Options: As a specialist in assisted living and memory care, The Orchard does not offer nursing care.
Overall, The Orchard gives the impression of perhaps being better designed for memory care, as it states,
“It was our founder’s grandmother’s diagnosis of dementia that inspired his family to open their first personal care home over 15 years ago.”
Still, the assisted living presents a reasonable choice for James and Sue.
Reflections on Senior Living Market Segmentation Examples
Based on my research, I estimate there are 800,000 CCRC / Life Plan residents, 800,000 in assisted living, 225,000 in memory care, and 1.2 million in nursing homes, which comes to a total of approximately three million already in senior living communities. There are 2.7 million potential consumers for growth either in these segments or for those already living in 55+ communities (focusing only on 65+ individuals with $50,000+ household income). Based on The Villages at 150,000, I’d suggest there must be at least one million in 55+ communities. For further insight, Omar Zahraoui of NIC added his analysis:
“These estimates are reasonably close to August 2024 estimates from the National Investment Center for Senior Housing & Care (NIC). NIC estimates CRCC/Life Plan Communities at 909,000 residents and 623,000 units. Assisted Living also comes close to 900,000 (899,000) residents and 714,300 units. Nursing Care has 1,054,000 residents and 1,269,000 units. Memory Care has 73,000 residents and 86,000 units. Lastly, Independent Living has 915,000 residents and 540,700 units. All together, this comes to close to 4 million senior living residents (3,850,000) and a bit over 3.2 million units.”
When I started to explore this topic, I didn’t realize how challenging it would be to find high quality market segmentation and sizing estimates and to sort through the industry terminology and jargons. Still, these have been enlightening market segmentation examples. This research made me think a great deal about the different options and journeys, and my analysis will certainly be worth updating, given the evolving market. I’m interested in hearing from others who have made the journey to a senior living community in recent months and years. I’m also interested to hear from those who follow these market segments to get their perspective on the market size.
For more market segmentation examples, visit our resources page. We’ve recently explored segmentations for adult toy and the wellness market. Or contact us, to explore a new market segmentation approach.
