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Assisted living costs are high, averaging $5,350 per month. The main factors determining cost are type of assistance, amenities and location. Pricing models for assisted living can vary...
In 2024, the average national cost of assisted living is roughly $5,665 per month. Due to a growing shortage of qualified caregivers, facilities must pay more to secure the right people. Recent hikes in minimum wage requirements and changes in overtime payment legislation are also increasing assisted living costs.
What is long-term care? Long-term care takes many forms in today’s society. Most often, it is provided at home by family, friends or paid caregivers. Some people need more intense, 24-hour care of the kind offered in nursing homes and other residential settings, such as assisted living homes.
The average cost of assisted living in the United States is $4,500 per month or $54,000 annually. The cost of assisted living varies depending on the type of community or facility, the state you live in, and the level of care you need.
Assisted living costs vary widely based on the location. In the Midwest, for example, the base cost of assisted living ranges from $3,500 to $8,000 per month, according to Minter.
How Much Does Assisted Living Cost? The national monthly median cost of assisted living in 2023 is $4,774, according to the Genworth Cost of Care survey.
How much does assisted living insurance cost? Long-term care insurance premiums vary widely depending on location and coverage type. The average monthly cost for a 55 year-old is about $2,200 and $3,700 a year, according to the AARP .