How much is an assisted living facility worth?
Direct answer
Value equals stabilized net operating income divided by the cap rate, cross-checked against comparable sales and replacement cost. For context, the national average sale price was $182,800 per unit in 2025 (JLL), but your community's income determines its actual value.
What to know
Start with the income approach. Divide stabilized NOI by the market cap rate for your community's class and location. Core assisted living cap rates run about 7.0%, non-core about 7.2%, and rural assisted living 8.5% to 10% or more, so the same NOI prices very differently by market.
Then cross-check. Price-per-unit comps, Class A metro assisted living indications run $120,000 to $200,000 or more per unit and Class B suburban $70,000 to $130,000, and the $300,000 to $400,000 or more per-unit cost of new construction frame the income answer.
Value drivers push you within these ranges: 85%+ occupancy, a strong private-pay mix, clean surveys, a tenured team and an updated building raise value; occupancy under 75%, heavy Medicaid dependence, survey problems, heavy agency staffing and deferred maintenance lower it.
Example
At a $500,000 NOI, a 7.0% cap rate implies about $7.14 million; at 6.5%, about $7.69 million. Every $1 of added NOI is worth roughly $12 to $17 at cap rates of 6% to 8%.
How Haven helps
Haven's free Broker Opinion of Value, delivered in 5 to 7 business days, gives you this analysis for your community. Read our assisted living valuation guide.