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Nursing Care Facilities Market: ZIP 04024

Opportunity Score

20 / 100 Challenging

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

Market Summary

ZIP 04024 is an urban area. with a population of 414 and household incomes near the national median ($55,833).

414

Population

$55,833

Median Income

-25% vs. national

Urban

Area Type

Median Age: 56.8 — older demographic, may prefer sit-down options.

College-Educated: 11.4% — value-focused market, keep prices competitive.

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

$1,600

2BR Fair Market Rent

$240 K

Median Home Value

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.