Ask The Expert: How much does an Assisted Living Community cost?

posted by: Lisa Sneddon Founder & President, Senior Living Experts www.seniorlivingexperts.com

The cost of long-term care in Assisted Living Communities varies, depending on the services included. Keep in mind, the costs of various services can add up quickly, just as an all-inclusive resort costs much more than a Motel.

Assisted Living Communities in prime real estate locations, with all the amenities and services included, will cost more than a community in a rural location. Other factors determining the price could include the size and view of the apartment, as well as its location within the building. As the care needs increase, so does the cost. It will cost more to have the advantage of knowing a nurse is staffed 24-hours a day, but at the same time, this benefit may save you money by allowing medical conditions to be caught early. Any additional services offered are reflected in a higher monthly rental rate.

According to the American Association of Homes and Services for the Aging:

The average daily cost for a private room in a nursing home is $213.00, ($6,390.00 per month and $77,745.00 annually).
The average daily cost for a semi-private room in a nursing home is $189.00, ($5,670.00 per month and $68,985.00 annually).
The average monthly cost of living in Assisted Living Communities is $2,969.00 or $35,628.00 annually.
The average cost of living in a not-for-profit Continuing Care Retirement Community (CCRC) is $2,672.00 per month, or $32,064.00 annually.
The average monthly rate for assisted living facilities that charge additional fees for providing Alzheimer’s Disease and dementia care is $4,270.00 per month or $51,240.00 annually.
To move into a community, individuals might also have to pay an entry fee ranging from $60,000.00 to $120,000.00 or more.

While the price may be shocking to some, keep in mind you do not have the expenses of maintaining a house along with the accompanying insurance and taxes. While you may need to hire a private caregiver while living in an Assisted Living Community, you may not need as much private care as if you were living alone at home. The combined upkeep of a house and the cost of a private caregiver could actually be more than the cost of moving to an Assisted Living Community.

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Comments

Posted by:kelly

5/26/2013 3:31:38 AM

I coordinate full care for two seniors at home, (children have to let go and take a break at some point or they get very frustrated)and it is 24 hour care and that takes three staff at 15$/hr- 14 hrs a day the other 8 hours they have a medical alert service. (while they r sleeping). I do all their shopping- I clean their home(better than a cleaning service -which they had and the home still smelled like urine) it cost just as much ( aprox 6k) a month. But they are together at home, not being checked on every two hours- they have one on one care all day- waited on hand and foot- walked every hour ( for circulation and oxygen levels) they are made home made meals for everymeal-* they r living longer together and they r happy! (by the way I changed their doctor to a geriatric specialist that comes right to the home and if they do get sick- I have access to the doctor right at their home- I also only get paid for the time I am there- I do all the shopping and med pic ups and other needs (creams etc) on my own time- when the relief comes-

Posted by:Mary

9/14/2012 12:29:42 PM

@Marlene--first read the article. The ave. price of assisted living is around $3000, not $6000. Even for the $6000 in a SKILLED Nursing, you seem to be ignoring the cost of meds, keeping nurses and other caregivers on staff 24-hr/day, and the high acuity of some of the residents. If you had to hire 24 hour care for your family member at home, it's going to run you money for meds, doctor calls or visits, and Proper staffing. If you hire that $12/caregiver for a couple of hours a day, and they're sick enough that they need 24-hr care, you must want your family member dead. Residents eat out in a dining room specifically so they get out and socialize some. Most people are fairly social creatures. If you want to hole up in your room and never come out, more power to you. You're one who will be begging for an assisted living when the time comes. I don't see you taking care of your folks. You also have no idea how regulated these communities are. Both the Skilled Nursing and Assisted Living. We're inspected a minimum of once a year, more often if there are complains. You do have no clue as to the cost of these places and why. They do seem expensive until you start breaking out all the cost.

Posted by:Leanne

8/25/2012 6:16:09 PM

It seems that there are a lot of people who have left comments here that have absolutely no understanding of the what it really costs to own and operate an assisted living or nursing facility. Many nursing homes actually LOSE money on a lot of residents if there aren't careful of the acuity of patients they accept!!!

Posted by:maria

2/16/2012 6:49:16 AM

its just another way for them to rob medicade/medicare way to expensive? why families would pay that rich or not is beyond me assisted living is a joke? i mean really who would pay over $6,000 a month??? iits not like your living with donald trump hey do they have a gourmet chef too? probably not they have to cook on their own and and buy their own food too i suppose wow what is this greedy world coming to???

Posted by:Taryn

12/12/2011 1:05:47 PM

how can anyone afford this? Im very sad.

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