The Future of Bellevue Senior Housing: Shortcomings and Opportunities
Posted on 14 July 2010
The U.S. Census Bureau estimates that just over 5% of the senior population resides in a long-term care facility (a nursing home, boarding home, assisted living, etc.). As age increases, the likelihood of an individual residing in a facility increases. For instance, approximately half of all seniors age 95 and older reside in nursing homes.
In the year 2000, the majority of Bellevue residents resided in single-family homes: 99.3%, leaving only a remaining 0.7% of residents who resided in care homes, such as Bellevue Assisted Living facilities. However, 28% of all households were single-person households, many of them with elderly residents. Those same individuals have aged ten years since the last available Census data, and many of them have likely reached a point at which they can no longer remain alone in their homes.
Even more compelling: over one-third of homes with at least one resident over the age of 65 were single-person homes, and 44% of homes with at least one resident over the age of 75 were single-person homes. Remember, the likelihood of requiring assisted care increases with age. Pair this information with the overall growth of the senior population in Bellevue (which we covered in a recent post), and the numbers start to look a bit more promising.
Opportunities in senior housing rely heavily on a number of variables. The current care options in Bellevue are adequate to meet the needs of the (approximately) 1% of Bellevue residents living in a facility, as of 2000. But the baby boomer generation is entering its senior years, and Americans have longer life expectancies due to leading active lifestyles and advances in diagnostics and medicine. It’s also likely that utilization of long-term care services will increase with changes to America’s health care system that promise to provide seniors with better access to care.
As these changes take effect, even if the percentage of overall residents utilizing long-term care facilities remains steady, we’ll see greater numbers of individuals residing in assisted living, nursing homes, and other care facilities. Current capacities won’t be adequate to meet the needs of the rapidly growing senior population if all predictions prove true. The coming years will provide opportunities for senior living providers in the area, but the tide can turn quickly if too many entrepreneurs jump on the bandwagon. Our advice? Get in early and establish your brand to ensure your place in what is already a highly competitive industry.
Chris Rodde is the CEO of SeniorHomes.com, a free resource for people looking for senior housing or senior care for a loved one or themselves. With valuable articles and a comprehensive directory of care options, SeniorHomes.com is the best place to start your search for assisted living, independent living, Alzheimer’s care, a retirement community or home care.
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