Assisted Living Feasibility Study in Maryland

Maryland is mid-ranked and lightly used for senior residences

Maryland's 40 loans for assisted living without nursing care, approved from FY2017 to FY2026 for $43.1 million, rank the state 15 of 50, but within Maryland's own mix the class lands at 17 of 39, and its location quotient of 0.94x sits near the national share. The median loan of $543,000 is 0.71x the national midpoint for the class, with most requests between $147,450 and $1.7 million, so the range is wide even if the center is modest. Borrowers appear to be financing smaller homes than the national typical.

Who finances these homes

The 7(a) program accounts for 35 loans and the 504 program for 5, while 5.0% of loans are franchised. Two lenders reach five loans, and they could hardly differ more in dollars: Wells Fargo Bank National Association totals $6.0 million, whereas Manufacturers and Traders Trust Company totals only $235,000, a sign of very small tickets alongside large ones. Baltimore and Howard counties have 7 loans each, Baltimore City has 6, and Harford and Montgomery 5 each.

Withheld measures and an uneven calendar

For Maryland we cannot print a cancellation percentage or a charge-off percentage, since each rests on fewer than 30 loans. The empty spaces are missing values, and they say nothing about zero risk; a lender weighing a Maryland home should lean on the national and class tables for these two measures. Annual approvals swing from 1 loan in FY2020 and in FY2022 to 7 loans worth $11.3 million in FY2023, and the latest year, FY2026, shows 10 loans worth $9.7 million, the largest count in the table.

What a Maryland assisted living study must test

Demand should be measured by senior population with the means to pay privately, within a realistic draw area around the home, against licensed capacity already operating. The licensing timetable belongs in the cost test, so a sponsor should show how long the home carries costs before it opens. Coverage must be shown at a stabilised census after a fill-up period. The appraisal should value the home on beds and operating income, as a lender will.

A boundary on coverage: the industry list gives its own entry only to residences lacking nursing on site. Memory care units have no entry, and homes offering nursing are filed with nursing facilities, so none of those loans are counted here.