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Nursing Care Facilities Market: ZIP 04005

Opportunity Score

59 / 100 Fair

Based on walkability, population density, income levels, and local business competition.

Market Summary

ZIP 04005 is an urban area with low foot traffic. with a population of 24,698 and household incomes near the national median ($71,268).

24,698

Population

$71,268

Median Income

-4% vs. national

Urban

Area Type

6.1/20

Foot Traffic

Car-Dependent

Median Age: 37.1 — mixed-age market, broad menu appeal.

College-Educated: 20.5% — value-focused market, keep prices competitive.

Local cost levels affect space, labor, and operating expenses.

$1,760

2BR Fair Market Rent

$1,186

Median Gross Rent

$350 K

Median Home Value

Bank Branches

$430 K deposits

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.