A Place for Mom, the nation’s leading senior living advisory service, is dedicated to assisting seniors and their families in finding the ideal care solutions tailored to their specific needs. In a recent survey conducted by A Place for Mom, only 34% of families felt adequately prepared for senior living expenses in 2023, emphasizing the importance of cost and financing information in the decision-making process. This report provides valuable insights into the actual costs seniors incur for care through data collected from over 17,000 partner communities and home care agencies within A Place for Mom’s network.
The figures below offer a comprehensive overview of the expenses seniors encounter while residing in A Place for Mom’s partner communities in 2023. The monthly prices for senior living are inclusive of all care services and amenities offered by each community, while home care costs are represented as hourly rates due to the variability in monthly totals based on individual care needs.
While many families seek average long-term care costs, this report primarily focuses on median costs to provide a more balanced perspective. Median costs reflect the middle value in a data set, indicating that half of the providers charge more and half charge less. This approach minimizes the impact of extremely high or low prices on the overall analysis.
**National Median Costs of Long-Term Care**
The cost of senior living is influenced by the level of care, amenities, services, and activities provided by a community. Prices can vary significantly across different types of senior living arrangements due to variations in care levels. Here are the median costs for various types of care:
– Assisted living: $4,995 per month
– Memory care: $6,200 per month
– Independent living: $3,100 per month
– In-home care: $30 per hour
**Long-Term Care Costs by State – Assisted Living**
Assisted living expenses vary across states, with Wyoming having the lowest average cost at $3,642 per month and the District of Columbia recording the highest at $7,250 per month. Below are the average monthly costs of assisted living in different states:
– Wyoming: $3,642
– Alabama: $3,696
– Mississippi: $3,757
– Louisiana: $3,811
– Georgia: $4,152
– Utah: $4,165
– Kentucky: $4,168
– South Dakota: $4,205
– Arkansas: $4,253
– South Carolina: $4,295
– Florida: $4,310
– Indiana: $4,348
– Tennessee: $4,382
– New Mexico: $4,395
– Idaho: $4,559
– Arizona: $4,575
– North Dakota: $4,598
– Missouri: $4,700
– West Virginia: $4,710
– Montana: $4,840
– Oklahoma: $4,899
Below are the rewritten text:
Washington: $5,425 per month
Hawaii: $5,495 per month
Nevada: $5,578 per month
Rhode Island: $5,670 per month
Oregon: $5,760 per month
New York: $5,895 per month
Maine: $5,915 per month
Maryland: $6,078 per month
Connecticut: $6,283 per month
Alaska: $6,285 per month
Vermont: $6,495 per month
Delaware: $6,525 per month
Massachusetts: $6,669 per month
New Hampshire: $6,879 per month
New Jersey: $7,000 per month
District of Columbia: $7,250 per month
For more data about long-term care costs, click here.
Senior Living Costs by Floor Plan Type:
Different apartment sizes and layouts can impact the cost of senior living. For example, a cozy studio in assisted living, memory care, or independent living is usually less expensive than a spacious one-bedroom or two-bedroom apartment.
The chart below displays median monthly starting prices for common floor plans in senior living communities across all 50 states and the District of Columbia. These starting rent prices are reported by communities in our partner network and may not include additional fees for services or pets.
For more information on senior living costs by floor plan, click here.
Long-Term Care Costs Over Time:
The line graph below illustrates how national monthly costs for assisted living, memory care, and independent living have changed over the past five years. This graph shows quarterly averages of actual costs that seniors have paid after move-in. These averages reflect pricing trends better than medians due to various factors like rising costs, post-pandemic demand, and low construction levels in certain markets.
Full Methodology:
Learn how A Place for Mom determined costs based on median values, collection periods, and sample size.
National and State Median Cost Data:
A Place for Mom gathered data on assisted living, memory care, and independent living. The monthly cost data was collected at the time of each senior’s move-in and over the following year to provide a comprehensive view of expenses. Data was collected throughout 2023.
Memory Care:
Sample size: 11,506 family move-ins. Monthly expenses for memory care include room and board, personal care services, and community fees.
Assisted Living:
Sample size: 28,301 family move-ins. Monthly costs for assisted living include rent, meals, activities, and medication management.
Independent Living:
Sample size: 13,481 family move-ins. Costs for independent living cover room and board, amenities, and maintenance.
Home Care Cost Data:
Based on starting hourly rates reported in 2023 by 767 of A Place for Mom’s home care partners. Costs depend on the level of care needed and contracted hours per week, with most agencies requiring a weekly
For those in need of care, there are options available for up to 24-hour or live-in care. The industry standard defines “full-time” care as 44 nonsleeping hours per week. Based on the national median hourly rate from A Place for Mom’s network of home care providers, this equates to $5,720 per month. If you’re considering selling a house to cover senior care costs, here are 5 things to keep in mind. Additionally, here are 10 signs that indicate your elderly parent may need help. This article was originally published on Aplaceformom.com and shared through MediaFeed.org.
