NAICS Code 531110-08 - Retirement Apartments & Hotels

Marketing Level - NAICS 8-Digit

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Looking for more companies? See NAICS 531110 - Lessors of Residential Buildings and Dwellings - 49,565 companies, 54,491 emails.

NAICS Code 531110-08 Description (8-Digit)

Retirement Apartments & Hotels is a subdivision of the NAICS Code 531110 that involves the leasing of residential buildings and dwellings specifically designed for senior citizens. These facilities offer a range of services and amenities to cater to the needs of retired individuals who are looking for a comfortable and secure living environment. Retirement Apartments & Hotels are typically located in areas with easy access to medical facilities, shopping centers, and other essential services.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 531110 page

Tools

Tools commonly used in the Retirement Apartments & Hotels industry for day-to-day tasks and operations.

  • Medical alert systems
  • Mobility aids (e.g. walkers, wheelchairs)
  • Emergency call systems
  • Handrails and grab bars
  • Non-slip flooring
  • Adjustable beds
  • Lift chairs
  • Shower chairs
  • Medication management systems
  • Personal emergency response systems

Industry Examples of Retirement Apartments & Hotels

Common products and services typical of NAICS Code 531110-08, illustrating the main business activities and contributions to the market.

  • Senior living communities
  • Assisted living facilities
  • Continuing care retirement communities
  • Independent living communities
  • Retirement homes
  • Senior apartments
  • Memory care facilities
  • Skilled nursing facilities
  • Hospice care facilities
  • Respite care facilities

History

A concise historical narrative of NAICS Code 531110-08 covering global milestones and recent developments within the United States.

  • The Retirement Apartments & Hotels industry has a long history dating back to the early 20th century when the first retirement homes were established in the United Kingdom. In the 1950s, the industry began to grow in the United States, with the establishment of the first retirement communities in Florida. The industry continued to expand throughout the 1960s and 1970s, with the development of more specialized facilities such as assisted living and memory care communities. In recent years, the industry has seen a shift towards more luxurious and amenity-rich facilities, with many communities offering resort-style living and high-end amenities such as spas, fitness centers, and gourmet dining options. In the United States, the Retirement Apartments & Hotels industry has experienced significant growth in recent years, driven by an aging population and increased demand for senior living options. According to the US Census Bureau, the number of Americans aged 65 and older is expected to double by 2060, creating a significant need for senior housing and care. In response to this demand, the industry has seen a surge in new construction, with many developers focusing on high-end, luxury communities to cater to affluent retirees. Additionally, the industry has seen a trend towards more specialized care, with many communities offering memory care, hospice care, and other specialized services to meet the needs of their residents.