Assisted Living Feasibility Study in the Detroit-Warren-Dearborn, MI Metro Area

Care homes without nursing in Metro Detroit

Detroit-Warren-Dearborn, MI sits at 19 of 321 for homes without nursing among every metro and micro area, and the same number, 19 of 39, is the class's position locally. Because the location quotient is 0.68x, these homes weigh less in Detroit lending than in the national mix. The $426,000 median loan reaches 0.56x of the nationwide median, a little over half the usual size. Together, 32 approvals dated FY2017 to FY2026 reach $22.5 million, and franchise share is 0.00%, so independent operators dominate these figures entirely.

Sizes, counties and the holder shown

From $150,000 to $742,275 runs the middle half. Oakland County accounts for 14 of the approvals and Wayne County for 9. Two years print: FY2022 saw none, $0, while FY2024 reached 6 loans and $3.4 million. SBA shows The Huntington National Bank holding 9 loans worth $3.8 million, a holder entry and not a statement about how they began. Program counts are hidden.

What the class leaves out

The industry code covers only homes without nurses on site; memory care lacks a code, and homes with nursing fall into two other classes, so a project with skilled nursing or a dedicated memory unit cannot be read from these figures directly. Cancellation and charge-off floors are absent because Loan Analytics will not print a rate from a thin early group.

Matters for a Detroit-area study

Start with the resident base: older adults who can pay private rates, the licensed beds already open within reach, and the monthly fee the home must charge. Occupancy builds slowly, so the study needs a lease-up curve with a slower case alongside it, and a bridge of working capital that covers the months before the home is paying its way. Staffing is the heaviest running cost and licensing sets minimum ratios, so labor must be built bottom-up. The median of $426,000 implies that many projects here are conversions or small homes, and a plan far above that needs evidence of rate support. Lenders ask whether income at a settled census covers the payment, and an appraiser capitalizes bed income, so every census and rate assumption needs a named source.