Thrifty Thinking: The Cost of Assisted Living Facilities by State

Did you know that if you want to ship mom or dad to an assisted living facility on the cheap, you should send them to Missouri which has the lowest average monthly cost of $2,525?

In the years to come, baby boomers are projected to enter assisted living facilities in record numbers. This will put a heavy financial burden on families across America.

To help families plan, the team at AssistedLivingFacilities.org put together a comprehensive resource for Americans in every state called: The Cost of Assisted Living Facilities by State

Here are a few examples:

·         Increase in Occupancy Levels: Through 2017, occupancy levels at senior living facilities was at 88.3%.  That number is expected to peak in 2026, the year when baby boomers reach the age that seniors typically move into assisted living facilities.

·         Different Options of Care: In terms of supply and demand, prices for assisted living facilities will increase in the years to come. The national average cost is $3,600 per month for an assisted living facility. A private, single-occupancy nursing home costs $7,604 and getting a home aid for eight hours per week costs $693. 

·         Delaware (not NY or California) is Most Expensive State: Delaware has the highest median monthly cost for an assisted living one-bedroom at $5,745.  New York, which you might expect to be higher, costs $4,100. 

·         Missouri is Least Expensive States: If you want to ship mom or dad off on the cheap, send them to Missouri where the cost is $2,525.

·         Beware of Hidden Fees: In addition to base fees, 30% of facilities require a security deposit while 22% require an entrance fee before moving in.

AssistedLivingFacilities.org is the leading resource for assisted living information and includes an assisted living directory by state.