{"id":21552,"date":"2019-01-24T05:00:22","date_gmt":"2019-01-24T13:00:22","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=21552"},"modified":"2026-02-22T15:39:57","modified_gmt":"2026-02-22T23:39:57","slug":"senior-living-utilities","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/senior-living-utilities\/","title":{"rendered":"Senior Living Utilities"},"content":{"rendered":"

Keeping up with utilities and energy costs is a hurdle for most senior living communities. Argentum senior living association recently reported<\/a> on industry forecasts and trends: about 49 percent of decision makers said energy and utility costs are a moderate challenge for their business. About 5 percent of their peers reported energy and utility costs as a significant challenge.\"\"<\/a><\/p>\n

Electricity on the Rise<\/strong><\/p>\n

The challenge arises from an increase in energy and utility costs. U.S. Energy Information Administration (EIA) reports that commercial electricity prices increased 3 percent from 2016 to 2017. From 2017 to 2018, businesses witnessed an additional 1 percent increase. In 2019, EIA projects prices to increase an additional .6 percent to 10.86 cents per kilowatt hour.<\/p>\n

Not all regions are affected equally. The Pacific region may experience a 3.5 percent increase above the national average in 2019. On the lower end of the spectrum, the South Atlantic may experience an increase of only 1.5 percent.<\/p>\n

Some regions will enjoy a decline in costs. The West South Central may be relieved with a drop of -3.4 percent and New England with a drop of -2.4 percent.<\/p>\n

Natural Gas Projections<\/strong><\/p>\n

The national average for gas prices is expected to average $8.02 per thousand cubic feet in 2019, up 1.5 percent from 2018.<\/p>\n

Regional variations above the national average include West North Central at 6.4 percent, East North Central at 5.9 percent, and Mountain at 4.2 percent.<\/p>\n

New England may receive an average price drop of -5.5 percent as well as the Middle Atlantic at -2.7 percent. \u201cThe declines won\u2019t be enough to offset the sharp increases registered in 2018,\u201d warned the report.<\/p>\n

Making Changes<\/strong><\/p>\n

Overall, utility costs by square foot varied drastically. Some senior living communities reported costs as low as 69 center per square foot to as much as $7.72, according to 2018 State of Seniors Housing report.<\/p>\n

The cost per resident, per day also scaled a broad range. On the low end, communities reported 76 cents per resident. Respondents topped-out at $16.27 per resident. The average cost per resident, per day came in at $5.80 in 2018.<\/p>\n

To promote greater efficiencies in utilities and costs per resident, senior living executives will increase their investments in efficient equipment and fixtures.<\/p>\n

About 37 percent of respondents are channeling resources towards energy-saving light fixtures. Efficient refrigeration, heating and air conditioning are priorities for 18 percent of respondents. Only 15 percent of those surveyed plan to invest in water-saving devices.<\/p>\n

The kitchen will be a hot spot for cost savings. One in 20 senior living leaders plan to introduce energy-saving kitchen appliances to their communities in 2019.<\/p>\n

Measure, Manage, Save<\/strong><\/p>\n

Before quantifiable savings can take place, decision makers must be able to organize utility and energy data. Track and manage utility and energy costs<\/a> to begin benchmarking and implementing effective strategies.<\/p>\n

Use Yardi Senior Living Suite<\/a> to manage finances, operations and marketing with a single connected solution.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Keeping up with utilities and energy costs is a hurdle for most senior living communities. Argentum senior living association recently reported on industry forecasts and trends: about 49 percent of decision makers said energy and utility costs are a moderate challenge for their business. About 5 percent of their peers reported energy and utility costs […]<\/p>\n","protected":false},"author":440,"featured_media":21554,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2472,3230,4,2952],"tags":[185,842,554,1675,2438],"class_list":["post-21552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-energy-suite","category-news","category-senior-living","tag-energy","tag-senior-living","tag-utilities","tag-yardi-energy","tag-yardi-senior-living-suite"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Keeping up with utilities and energy costs is a hurdle for most senior living communities. 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