The senior living industry is a major and expanding sector dedicated to housing and caring for the increasing population of older adults. This market includes a diverse range of services, from independent living to specialized memory care and skilled nursing facilities. As demand grows, the market has become dominated by large, national companies that leverage extensive geographic reach and substantial financial resources. This analysis identifies the largest operators and examines the business forces contributing to their market presence.
How “Largest” is Determined in Senior Living
Defining the “largest” company in the senior living sector can be complex because several metrics are used to measure scale. Metrics like annual revenue or market capitalization often reflect the financial health of the parent company rather than the scope of direct resident services.
The most precise and widely accepted metric for assessing the size of a senior living operator is the total number of managed units or beds. This count directly quantifies the company’s capacity to serve residents across its portfolio, providing a clear picture of its physical footprint and reach. This article uses the number of managed units/beds, as reported by leading industry publications, to establish the current operational rankings.
Identifying the Largest Senior Living Company
The largest senior living operator in the United States, based on the number of managed units, is Brookdale Senior Living, Inc. This publicly traded company has maintained its position at the top of the industry for over a decade. Brookdale manages approximately 53,510 units across 639 properties, spanning 41 states as of mid-2025.
Brookdale operates as both a management company and an owner-operator, offering a full continuum of care including independent living, assisted living, memory care, and Continuing Care Retirement Communities (CCRCs). Its business model focuses on providing care and hospitality services across a geographically diverse, national platform. The company’s size allows it to achieve efficiencies in purchasing, staffing, and technology adoption unavailable to smaller competitors. Brookdale’s extensive footprint and diverse offerings ensure it serves a broad segment of the senior population, providing a clear advantage in brand recognition and resident acquisition.
The Competitive Landscape: Top Operators
Just behind the industry leader is a rapidly evolving group of major operators that form the top tier of the competitive landscape. These companies pursue various strategies, including mergers and acquisitions or specialized care offerings, to expand their unit counts and market share. This consolidation underscores the overall trend toward larger, more integrated service providers in the sector.
Second Largest Operator
Discovery Senior Living is the second-largest operator, reporting approximately 39,236 units under management. The company’s recent rapid ascent in the rankings was fueled by strategic growth, including a significant merger that added thousands of units to its portfolio. Discovery Senior Living is well-known for its luxury, resort-style communities and its emphasis on high-end independent and assisted living services. This operator’s growth demonstrates the power of consolidating regional portfolios to quickly achieve national-level scale.
Third Largest Operator
LCS, formerly known as Life Care Services, holds the third spot with 33,766 units managed across its portfolio. LCS is distinguished by its strong focus on managing Continuing Care Retirement Communities (CCRCs), which provide residents with a full range of care options on a single campus. The company’s expertise lies in serving the not-for-profit sector and managing complex, multi-level care arrangements, setting it apart from operators focused solely on assisted living.
Fourth Largest Operator
Erickson Senior Living ranks as the fourth-largest operator, managing 26,608 units. This company specializes in developing and managing large, integrated retirement campuses that function as full-service communities. Erickson’s model emphasizes a resort-like atmosphere with extensive amenities and a full continuum of on-site healthcare services, appealing to seniors seeking an active, all-inclusive lifestyle. The company’s operational density allows for resource pooling and efficient service delivery within its expansive campuses.
Fifth Largest Operator
Greystar Real Estate Partners rounds out the top five, managing 24,047 units and recently moving up two spots in the rankings. Greystar is unique in that its senior living operations are part of a much larger global real estate management platform. Its strength comes from applying sophisticated property management technologies and practices, typically used in conventional multi-family housing, to the senior living environment. The company’s rapid growth indicates a successful strategy of entering the market with a strong focus on property and asset management efficiency.
Key Factors Driving Senior Living Company Growth
The scale achieved by the largest senior living companies is primarily fueled by consolidation and operational efficiency. Mergers and acquisitions activity has increased, driven by companies seeking a competitive edge. This consolidation allows large operators to achieve economies of scale, such as negotiating lower prices for supplies and services through centralized purchasing power.
Operational scale also creates a distinction between property owners and operators. Many large facilities are owned by Real Estate Investment Trusts (REITs) but managed by a separate operating company under a fee management or lease structure. The operator focuses entirely on day-to-day services and the resident experience, while the REIT focuses on the real estate asset. This division allows the largest operators to expand their management portfolio without needing to raise capital for purchasing property, enabling faster growth and broader geographic reach.
The Future of Large Senior Living Operators
The future of large senior living operators will be shaped by the adoption of new technology and the evolving demands for specialized care. Technology is increasingly deployed to address labor challenges and enhance resident safety. AI is used to optimize staffing levels and automate back-office tasks, which improves productivity and reduces operating costs across large portfolios.
Telehealth and remote monitoring are becoming integrated services within large communities, allowing residents to access medical consultations and specialized mental health services without leaving the facility. Specialized care for residents with higher acuity needs is growing, requiring large operators to invest in advanced care protocols and staff training. Smart-home technology, such as fall-detection sensors and voice-activated devices, is also being integrated into community design to support the aging population.