What is the average cost of an assisted living community?

  1. Molly Dworken 10/16/2012 05:33PM

    In a senior residential community, many factors can affect the average costs for a resident in an assisted living community. Geographic location, the array of services and amenities offered, level of healthcare services needed, the size of the residence, and any extra options residents choose to add to complement their lifestyle are all choices that influence costs. Although assisted living costs are reportedly the fastest rising in most categories of senior housing and care, there are affordable community options for every budget.

    There are many financial and insurance companies that conduct regular surveys in the senior living industry to find average costs for care. One care survey source found the national average for base rates in an assisted living community were $3,550 per month in 2012. Its important when doing cost comparisons to be sure you are seeing average base costs or total average costs calculated by service in a more “á la carte” service plan. Many assisted living websites have cost comparison tools for a search by state.

    Costs for assisted living can range from $60 to $80 per day for basic services – room and board, utilities, housekeeping, and some meals. According to Genworth 2013 Cost of Care Survey, the national median monthly rate for a one-bedroom assisted living apartment is $3,450. A certain number of meals are often included in the base rate. In many communities, levels of care are charged at an additional cost and differ per individual. For the most accurate estimate of cost, speak to a representative from the facility you are considering.