ASSISTED LIVING COSTS
Assisted living costs vary, depending on the following factors:
- Type of residence
- Size of apartment (studio, one or two-bedroom apartment)
- Types of services needed
- Geographical location of the community
Many communities charge a basic rate that covers all services, with an additional fee for special services. Most assisted living communities charge a month-to-month rate, but there are also long-term options available.
Typically, base rates only cover room and board and a service of daily meals, determined by the assisted living community. Sometimes there are entrance fees, deposits and laundry and housekeeping fees. But because these all vary by community, it’s important to ask each community about their individual costs and services.
According to Genworth.com, the average cost for a one-bedroom assisted living apartment in the U.S. in 2014 was $3,500 per month; an increase of 1.19% over 2013 with a five-year annual growth of 5.71%. Studio and two-bedroom assisted living apartments varied, accordingly.
FAST FACTS ABOUT ASSISTED LIVING
- Number of U.S. assisted living communities: 31,100
- Number of apartments: 475,500
- Number of residents: 735,000
- Average length of stay: 36 months
- Percentage of residents that receive help with three or more ADLs: 40%
Source: National Center for Assisted LivingFind a Community