NIC MAP Releases Top Markets for Senior Housing Transactions of 2025

New data highlights an increase in transactions and price-per-unit, indicating a strong total transaction volume

RALEIGH, N.C.--(BUSINESS WIRE)--NIC MAP, the leading provider of data for the senior housing industry, released its list of the Top Markets for Senior Housing Transactions of 2025, revealing an industry that continues to gain strength and attract capital across every region of the United States.

According to NIC MAP data, which includes 19 years of industry leading market data, the U.S. is facing a 550,000-unit shortfall in senior housing by 2030, representing a $275 billion investment shortage and requiring the industry to more than triple its current development pace to meet surging demand from the 80+ population.

Transaction activity signals intensifying market needs

According to NIC MAP data, the total closed transaction volume in seniors housing and nursing care for the first three quarters of 2025 reached $16.3 billion, with more than $10.3 billion in senior housing acquisitions. This is evidence of the senior housing sector’s continued resilience and investor confidence.

As of the third quarter, the rolling four-quarter average price per senior housing unit rose to $175,000, marking six consecutive quarters of gains and a 43% year-over-year increase in price. More than 1,000 senior housing properties traded hands in the past 12 months, up 7% from the prior year.

“The data paints a clear picture of a market that’s regained its footing,” said Arick Morton, CEO of NIC MAP. “Transaction activity, pricing momentum, and capital interest are all accelerating. Senior housing has emerged from a correction period stronger and more attractive to investors seeking stable, long-term growth opportunities.”

Top 10 Metro Markets

According to NIC MAP data, these are the top ten metros for senior housing investment in the first three quarters of 2025:

1. New York: $766 million transaction volume; 13 properties sold at a price-per-unit of $311,525
2. Phoenix: $530 million transaction volume; 16 properties sold at a price-per-unit of $267,950
3. Miami: $440 million transaction volume, 16 properties sold at a price-per-unit of $139,272
4. Dallas: $418 million transaction volume, 25 properties sold at a price-per-unit of $187,375
5. Minneapolis: $418 million transaction volume, 18 properties sold at a price-per-unit of $207,690
6. Seattle: $300 million transaction volume, 15 properties sold at a price-per-unit of $207,686
7. Milwaukee: $253 million transaction volume, 16 properties sold at a price-per-unit of $130,895
8. Houston, $252 million transaction volume, 17 properties sold at a price-per-unit of $157,518
9. Nashville: $231 million transaction volume, 11 properties sold at a price-per-unit of $241,676
10. Boston: $226 million transaction volume, 11 properties sold at a price-per-unit of $241,879

“Investor activity is broad-based and strategically focused,” Morton added. “We’re seeing capital flow into both primary and secondary markets, from New York to Phoenix to Nashville, as investors pursue assets that align with shifting demographics and operational performance.”

A national shortage and generational opportunity

With sustained transaction activity, rising valuations, and expanding buyer diversity, including REITs, private equity firms, and regional operators, the senior housing sector is positioned for continued strength entering 2026.

“Investor behavior today reflects conviction in the sector’s fundamentals,” said Morton. “As demographic demand accelerates and operating metrics improve, senior housing remains a compelling opportunity in the broader commercial real estate landscape. The transaction data tells us where investors are preparing from growth. Now we need development to follow because we simply don’t have enough senior housing in the pipeline.”

Access the Top Senior Housing Transactions of 2025 for a detailed breakdown of the year’s most significant deals, including transaction volume, price-per-unit analysis and regional market insights.

About NIC MAP

NIC MAP believes data drives outcomes. We provide purpose-built data exclusively for senior housing with relevant, market-specific insights you won’t find anywhere else, empowering the senior housing industry to stay nimble and achieve optimal results. Our platform offers real-time access to occupancy rates, transaction details, and construction project tracking, enabling industry leaders -- including the top senior housing operators, largest government agencies and major investors -- to navigate market complexities and capitalize on investment opportunities. For more information, visit www.nicmap.com.