Key Factors Affecting Valuation for Senior Apartments

28 Pages Posted: 28 Mar 2012 Last revised: 10 Sep 2012

See all articles by Jonathan A. Wiley

Jonathan A. Wiley

Clemson University

David Wyman

affiliation not provided to SSRN

Date Written: March 27, 2012

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.

Keywords: Apartments, Senior housing, Valuation

Suggested Citation

Wiley, Jonathan A. and Wyman, David, Key Factors Affecting Valuation for Senior Apartments (March 27, 2012). Journal of Real Estate Research, Vol. 34, No. 2, 2012, Available at SSRN: https://ssrn.com/abstract=2029816

Jonathan A. Wiley (Contact Author)

Clemson University ( email )

101 Sikes Ave
Clemson, SC 29634
United States
864.656.4950 (Phone)

David Wyman

affiliation not provided to SSRN ( email )

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