Aging U.S. demographics underpin broad demand for healthcare real estate

Chart depicting US population over 55, occupancy rate for medical office buildings, and square footage of hospital and medical office real estate delivered from 2016 to 2023 with projections of 55+ population through 2030
  • Population aged 55+ accounted for more than 56% of healthcare expenditures in 2019, according to the Kaiser Family Foundation, when the age cohort numbered 98 million. The 55+ cohort is expected to grow 33% (to 127 million) by the year 2052.
  • Meanwhile, despite strong delivery of new hospital and medical office square footage over the last 7 years, the occupancy rate for medical office space has not decreased.
  • Continued medical office development and deliveries will be needed to care for the aging U.S. population.

June 23, 2023

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