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Nursing Care Facilities Market: ZIP 04062

Opportunity Score

68 / 100 Good

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

Market Summary

ZIP 04062 is an urban area with low foot traffic. with a population of 19,041 and household incomes above the national median ($98,946).

19,041

Population

$98,946

Median Income

+33% vs. national

Urban

Area Type

5.6/20

Foot Traffic

Very Car-Dependent

Median Age: 42.0 — older demographic, may prefer sit-down options.

College-Educated: 32.5% — balanced market for quality & value.

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

$1,760

2BR Fair Market Rent

$1,189

Median Gross Rent

$370 K

Median Home Value

Bank Branches

$620 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.