DOC · 10-Q · 2026Q2 · Full report
Senior Housing Demand Trends
HEALTHPEAK PROPERTIES, INC. · 2026-08-05 · Importance 42 · Surprise 40 · In source text
Senior housing same-store Adjusted NOI increased 19.2% year over year in the second quarter and 16.4% for the first six months of 2026. Average occupancy rose to 88.6% from 86.0% in the quarter and to 88.5% from 86.1% year to date, while RevPOR increased to $8,589 from $8,169 and to $8,566 from $8,163, respectively. Growth was driven by higher resident fee rates and occupancy, partially offset by higher labor, food, utilities, repairs and maintenance, operator management fees and other operating costs. The total portfolio also benefited from the SWF JV Buyout and other senior housing communities acquired during 2026.
Key facts
- Healthpeak attributed an increase in Adjusted NOI from its senior housing segment to increased occupancy, increased rates for resident fees, the SWF JV Buyout, and other acquisitions of senior housing communities in 2026. source
- Senior Housing Same-Store Resident fees and services for the three months ended June 30, 2026 were $161,303 thousand, up $12,448 thousand from $148,855 thousand in 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +5.8% | Senior Housing Same-Store Resident fees and services for the three months ended June 30, 2026 were $161,303 thousand, up $12,448 thousand… |
| operating_income | positive | realized | — | Healthpeak attributed an increase in Adjusted NOI from its senior housing segment to increased occupancy, increased rates for resident… |