Millions of Americans live in assisted living facilities and nursing homes. Care needs vary, with some needing extensive daily care. Others need only a little assistance to live an independent life.
If you’re looking at assisted living for yourself or a loved one, though, you might wonder about the costs. What do the average assisted living costs look like? What drives them up or down?
Even if continued independence is worth any price, you still need to know what that price is. Come with us as we look at typical senior living prices. We’ll also look at how that cost stacks up next to other similar types of care.
Average Assisted Living Costs: Basics
As of 2021, the average monthly cost of assisted living comes in at about $4,500. This average accounts for most assisted living facilities nationwide, though. Many things can drive that cost down to as little as half or spike it up to more than double.
Location, Location, Location
The place you choose to stay plays a major role in the cost of assisted living apartments. The average in a state with a high cost of living can climb by more than half again as much per month. On the other hand, the average in a state with a low cost of living falls below $3,500.
Amenities and Facilities
When you comparison-shop for assisted living apartments, you’ll need to look at the amenities to get a sense of whether a price is fair. Some places within the same area will have more to offer. This senior living community, for instance, has a garden and an in-house spa.
While some facilities have an all-in-one assisted living cost that covers everything the facility offers, others have some complications in the billing. When you look at a facility, be sure to read the fine print carefully for issues like these.
In an all-in-one community, you can expect to pay the same amount regardless of how many of the amenities you use. This provides the peace of mind that comes with no unexpected expenses.
Other communities, however, charge additional fees for things like spa use or concierge services. It’s good that you don’t have to pay for them if you’re not using them, but this can add up over time.
If you or your loved one have a fixed income, all-in-one packages can help reduce risk. If the need for care increases, things can get pricey fast.
How Does It Stack Up?
Assisted living often comes out to be cheaper than similar forms of care. Receiving care at home can come out to nearly double the cost of an assisted living facility assuming 70 hours of care a week. Adult day care can be less than half the cost but comes with less care.
Get the Care You Deserve
Shopping around and comparing the average assisted living costs of different areas can help make sure you get the care you need at a price you can pay. Make sure to read each facility’s information in detail before committing.
Looking for which facilities or amenities might suit you best? Try taking a peek at our lifestyle section and decide if anything jumps out as a must-have.