How Much Do Senior Living Communities Cost?
When preparing to move to senior living of any kind, whether it is assisted living, memory care, or independent living, it is important to understand the costs involved and what you’re paying for when you choose to live in a certain community.
Often, the most common question we receive at our communities is, “How much do your services cost?” And our answer is usually, “It depends.” This is because we can’t give an answer until we know more about what someone is looking for, what their budget is, what services they’ll need, what kind of room they’re interested in renting, etc.
So, how much do senior living communities cost? Keep reading this article to learn more about the cost of senior living, as well as some of our tips for finding a community that fits in your budget.
How Much Does Assisted Living Cost?
The cost of an assisted living facility is going to depend on a few factors, including location, assistance needed, amenities, and other things like whether meals are included or if there are transportation services.
As of 2023, the average cost of assisted living in the United States is anywhere between $4,000 and $6,000, with New Jersey being the most expensive state in the country for assisted living and Missouri being the most affordable.
When looking for an assisted living facility, either for yourself or for a loved one, make sure you understand what rent is paying for. This could include:
Social events
Wellness programs
Cultural experiences
Meals provided
Security
Personal 24/7 assistance
Educational classes
Book clubs
Lunch outings
Happy hour
Monthly caregiver programs
So, you’re not just paying for a room, you’re getting a lot of other features and amenities included in your monthly payments. Services and facilities are represented in the price of the community; luxury facilities will cost more and provide different services than other facilities. Be sure to take this into consideration when looking at pricing.
How Much Does Memory Care Cost?
People often lump assisted living and memory care together, but memory care is a much more involved form of assistance and can therefore be a bit more costly.
According to the AARP, the average memory care monthly rent as of 2021 was $6,935.
If you think memory care is the best choice for your loved one, make sure you understand what you’re paying for:
Location
Services
Care hours
Frequency of services
Insurance
Activities
24/7 care
Nutrition and meals
Housing
Security and trained staff
Because of the round-the-clock care that is required for memory care patients, as well as other contributing factors like location and services, memory care can be pricier than other services and at-home care. However, memory care facilities are safe and secure environments that can protect your loved ones and provide them with relief. You can’t put a price on trained professional care and a living environment specifically designed for the safety of your loved one.
How Much Does Independent Living Cost?
The choice to move from your home to an independent living facility can be difficult. You might feel like you’re giving up your independence, but consider what independence means. Independence isn’t about owning – it is about living. When you’re exploring independent living options, take this into consideration. No more mortgage, no home repairs, no chores or other responsibilities that might feel burdensome and overwhelming.
When you’re exploring independent living options, a lot of things go into the monthly cost:
Location
Meals
Housekeeping services
Floor plan
Utilities
Packed activities and events calendar
Wellness and exercise programs
Transportation for errands or community outings
Access to on-site amenities
When considering independent living, also take into account your emotional wellbeing. Is owning your home more important than your mental health and happiness?
The amenities and services you receive in an independent living community are intended to add meaningful experiences and activities to your life without you having to go out and find them. The joy you can have from switching to an independent living community is well worth it.
The Aspenwood Company Has Independent Living Communities that Fit Your Needs
At The Aspenwood Company, we know mature adults want to live life well. Life gets richer and better as you age, and we believe that feeling should never end.
Our communities are the standard of luxurious living for mature adults. We make it easy to live life well. You will find our properties in the most sought-after locations, in the middle of culture and activity, where a vibrant lifestyle surrounds you. We’ve spent 25 years fine-tuning every detail of luxurious living so that our residents enjoy a new sense of freedom and fulfillment.
There’s luxury, and then there is Aspenwood luxury.
In order to become a member of an Aspenwood luxury community, mature adults will face some hard, but important decisions. Be assured that our team is trustworthy and compassionate, and ready to serve you. We are here to provide encouragement, support, and helpful information.
So, for the doctors, artists, educators, and business owners, you have the opportunity to pursue and experience freedom like never before. It’s time to experience the laughter, the energy, the activity, the friendly faces, and the caring people of The Aspenwood Company. It’s time to Live Life Well®.