LTC PROPERTIES, INC.

                                  EXHIBIT 23.1

                         CONSENT OF INDEPENDENT AUDITORS


We consent to the incorporation by reference in the Registration Statement (Form
S-3 No. 333-2444) and in the Registration Statement (Form S-8 No. 33-85252) of
LTC Properties, Inc. of our report dated January 19, 2001 (except Note 12, as to
which the date is February 1, 2001) with respect to the consolidated financial
statements and schedules of LTC Properties, Inc., included in its Annual Report
(Form 10-K) for the year ended December 31, 2000.


                                                     /s/ ERNST & YOUNG LLP



Los Angeles, California
February 16, 2001