U.S. Assisted Living Facility Market Size, Share & Trends Analysis Report By Age (More Than 85, 75-84, 65-74, Less Than 65), By Region (West, Southeast, Southwest, Midwest, Northeast), And Segment Forecasts, 2025 - 2033

U.S. Assisted Living Facility Market Summary

The U.S. assisted living facility market size was estimated at USD 44.38 billion in 2024 and is expected to reach USD 93.54 billion by 2033, growing at a CAGR of 8.69% from 2025 to 2033. This growth is driven by the increasing life expectancy and the baby boomer generation contributing to the demand for assisted living facilities (ALFs). Moreover, the growing geriatric population seeking companionship, security, & assistance with daily activities and patients suffering from neurological & other chronic disorders are expected to drive the market growth. As per the data published by the Population Reference Bureau in January 2024, the number of Americans aged 65 and above is projected to reach 95 million by 2060, increasing from 52 million in 2018. By percentage, the age group of 65 years and above is expected to increase from 16% in 2018 to 23% by 2060.

Rise in Demand for Assisted Living Facilities (ALF):

As the U.S. population of seniors continues to grow, the demand for ALFs is becoming increasingly pressing. According to the RubyHome article published in September 2023, approximately 1.2 million Americans reside in nursing homes, with over 15,000 nursing facilities nationwide. In addition, more than 30,000 communities cater primarily to older adults, as half of all facility residents are 85 or older. The financial implications of these arrangements are significant, with the median monthly cost for assisted living averaging USD 4,500. In contrast, a private room in a nursing home can cost around USD 9,034/month, nearly double the assisted living rate. Notably, California, Florida, and Washington lead the nation in assisted living communities, with 5,900, 2,400, and 2,000, respectively. Moreover, according to Consumers Unified, LLC, seven out of ten individuals in the U.S. require assisted living care in their lifetime.

The Growing Number of Residents in ALF:

The growing number of residents in ALFs indicates an increasing demand for these services. This trend highlights the need for high-quality assisted living facilities across the country. As this demand continues to rise, providers must evolve to address the changing needs of the aging population. The urban areas have a greater concentration of assisted living facilities for several reasons. The higher population density in cities results in a larger pool of potential residents. Moreover, the proximity to healthcare services, social amenities, and transportation makes urban settings appealing for these facilities. The market in urban areas benefits from various amenities and services, allowing facilities to offer multiple activities, dining choices, and recreational opportunities that cater to diverse residents.

U.S. Assisted Living Facility Market Report Segmentation

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033 For this study, Grand View Research has segmented the U.S. assisted living facility market report based on age, and region:

• Age Outlook (Revenue, USD Billion, 2021 - 2033)
• More than 85
• 75-84
• 65-74
• Less than 65
• Regional Outlook (Revenue, USD Billion, 2021 - 2033)
• West
• Southeast
• Southwest
• Midwest
• Northeast

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