Nursing Care Facilities Market: ZIP 02641
Opportunity Score
8
/ 100
Challenging
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 02641 is an urban area.
Area Profile
299
Population
Urban
Area Type
Median Age: 66.3 —
older demographic, may prefer sit-down options.
College-Educated: 66.6% —
strong appetite for artisan/specialty food.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$2,230
2BR Fair Market Rent
$1 M
Median Home Value
1
Bank Branches
$200 K deposits
Tips for Starting a Elder Care Business in Massachusetts
- State licensing for assisted living takes 6-12 months and involves facility inspections, staffing plans, and background checks. Start early.
- Staffing is your #1 cost and #1 challenge. CNA turnover runs 50-75% annually in most markets. Budget for constant recruiting.
- Medicare and Medicaid reimbursement rates vary by state. Some states pay well. Others don't cover costs. Know your state's rates before committing.
- Start small. A residential care home (6-8 beds) requires far less capital than a 50-bed facility and lets you prove your model.
Quick Facts
- Area Type
- Urban
- Bank Branches
- 1
Nearby Markets
02660
3.1 mi
Pop: 6,767
$91,449
Walk: 7.8
02638
3.3 mi
Pop: 3,256
$117,619
02639
6.1 mi
Pop: 3,387
$64,051
02664
6.1 mi
Pop: 9,720
$78,796
Walk: 13.1
02631
6.2 mi
Pop: 10,189
$93,427
02675
6.3 mi
Pop: 6,919
$111,555
Walk: 7.0
02671
6.5 mi
Pop: 932
$101,917
Walk: 9.6
02670
6.6 mi
Pop: 1,071
$89,875
Walk: 9.9
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About This Data
Data sources
U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits