NAICS 72131 - Rooming and Boarding Houses
This industry comprises establishments primarily engaged in operating rooming and boarding houses and similar facilities, such as fraternity houses, sorority houses, off-campus dormitories, residential clubs, and workers' camps. These establishments provide temporary or longer-term accommodations which, for the period of occupancy, may serve as a principal residence. These establishments also may provide complementary services, such as housekeeping, meals, and laundry services.
Industry trends:
The Rooming and Boarding House industry (NAICS 72131) is experiencing several notable qualitative trends. There is an increasing emphasis on community-oriented living spaces where residents can enjoy shared amenities and foster social connections. This is particularly appealing to younger demographics and retirees seeking affordable and social housing options. In addition, there is a growing trend towards incorporating technology-driven services to enhance tenant experience, such as digital check-ins, smart home features, and robust Wi-Fi connectivity.
Sustainability is another significant trend, with many operators aiming to implement environmentally friendly practices, such as energy-efficient appliances, water-saving fixtures, and the use of renewable energy sources. This not only appeals to eco-conscious tenants but can also lead to cost savings for operators in the long run.
Looking ahead, the demand for rooming and boarding houses is expected to rise, driven by increasing urbanization, the high cost of living in major cities, and a growing preference for more flexible and affordable living arrangements. However, operators may face challenges related to regulatory compliance and competition from other types of shared and flexible living spaces, such as co-living and serviced apartments.
Overall, those in the industry should focus on enhancing the community aspect, leveraging technology to improve tenant convenience, and adopting sustainable practices to stay competitive and meet future demand.
This industry is comprised of:
Boarding houses
Clubs, residential
Dormitories, off campus
Fraternity houses
Migrant workers' camps
Off campus dormitories
Residence clubs, organizational
Residential clubs
Rooming and boarding houses
Sorority houses
Workers' camps
Workers' dormitories
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.