Key Factors Affecting Valuation for Senior Apartments

Jonathan Wiley and David Wyman

Journal of Real Estate Research, 2012, vol. 34, issue 2, 183-210

Abstract: The value of senior apartments is estimated relative to traditional apartments in 34 markets in the United States. In some markets, senior apartments transact at higher prices than predicted; in others, at a discount. Market differences in the valuation of senior apartments are examined. Several attributes are found to have a significant impact and become capitalized into differential values for senior apartments including the supply of apartments per senior resident, housing prices, market size, education, and life expectancy. Other variables appear to have no effect, including rent and income, suggesting that the price impact is symmetrical for senior and traditional apartments.

Date: 2012
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DOI: 10.1080/10835547.2012.12091329

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