The True Expense of Assisted Living
Though over 800,000 Americans reside in senior communities, there's still a lot of misinformation about what these communities offer. Understanding the cost of assisted living and what these fees encompass can help debunk these misconceptions.
Here, we'll discuss:
- Average monthly assisted living prices
- Assisted living cost factors
- How to unlock affordable senior living
Read on to make financial planning for seniors' well-being easier.
The Average Cost of Assisted Living
According to Genworth's 2023 data, an assisted living community costs a median of $64,200 annually. This is about $5350 monthly.
Note that this is the median price rather than the average. According to the National Council on Aging, the average cost of assisted living is about $4,500 per month. This is $54,000 per year.
The cost will of course fluctuate on the level of care your loved one needs and what amenities you choose to invest in.
This may sound like a lot, but you need to compare it to other types of senior care. 44 hours of home care can cost $5,000 per month, and it doesn't come with any of the perks of assisted living. You get a far better value in a 24-hour assisted living community that:
- Includes the cost of meals
- Provides help with daily care tasks at all hours
- Offers private living quarters
- Is built with accessibility features
- Offers daily living activities
- Provides the joy of a community
You'll save money on food and activities when you pay for assisted living. You also are less likely to stress about emergency room visits and their associated costs because of senior living accessibility features.
What Goes Into Senior Care Costs?
You likely are wondering why costs are so high. The answer to this reasonable question is multifaceted, but it ultimately boils down to the many amenities and services seniors access in assisted living.
When you pay for a space in an assisted living community, the price breakdown involves:
- Housing costs
- Utility usage
- All meals
- Personal care services (dressing, bathing), etc
- Medication management
- Housekeeping and laundry services
The average cost of living in Pennsylvania outside of senior living is about $49,040 annually. That's about $4,086 per month.
A $4,500 average monthly bill for a senior living community isn't much higher than that, and it encompasses way more services. The comparable costs make senior living worthwhile for almost any family.
Senior care communities offer a lot of services that you pay a reasonable price for when you break costs down. Luckily, several other factors influence pricing, too. Knowing what they are can help you make an informed decision about financial planning for seniors.
Apartment Size
If you rent out a larger resort-style apartment for your loved one, you're going to pay for an elevated quality of life.
However, families looking to cut costs on senior living may choose smaller rooms. Fortunately, good PA senior living communities ensure that these suites are still large enough to navigate comfortably.
At Barnes Place Personal Care, seniors and families can choose from:
- Studio suites
- One-bedroom apartments
- Deluxe suites
All of them are situated in a comfortable resort-style community. They come with in-room amenities like:
- Comfortable furniture
- Large windows
- Carpeted flooring
- Ensuite bathrooms
- Kitchenettes
- HVAC/climate control
- Pet-friendly accommodations
You can't go wrong with any of these Latrobe senior living floor plans.
Community Amenities
Senior care costs also encompass community amenities. When you pay, your loved one gets access to:
- Restaurant-style dining
- Activity rooms
- Fitness programs
- Lounges for relaxation
- Outdoor spaces on community grounds
Accessibility within these amenities is one reason for elevated senior living costs. Both apartments and community amenities come with:
- Ample space to navigate rooms
- Wheelchair-accessible doorways
- Wheelchair ramps
- Wide, easy-to-navigate hallways
- Grab bars and grip bars to prevent falls
- Handrails and other safety railings
- No-slip mats and floor coatings
Most houses outside of senior living communities don't have these features. It can cost thousands to add them to a home. Even if assisted living prices look high, they stop you from having to pay for these at-home upgrades, saving money in the long run.
When you pay for assisted living, you pay to keep your loved one safe. This provides both seniors and families with peace of mind since they won't need to worry about sudden injuries that could impact the resident's quality of life.
Location of the Assisted Living Community
The cost of senior living also depends on the location of your preferred community.
Rural communities with nothing to do in the area will be less expensive. However, your loved one won't have anything to do off-campus. This can feel isolating and restrictive.
On the other hand, communities 40 miles outside of Pittsburgh have several of these nearby:
- Shops
- Restaurants
- Festivals
- Museums
- Live entertainment
Seniors living in these communities will be happier and healthier. They can enjoy cultural activities and annual gatherings like Latrobe's yearly Great American Banana Split Festival.
How Can You Lessen the Financial Burden?
Investing in a nice but affordable senior living community is the best choice. If it's too cheap, it won't offer a good quality of life. But choosing a nicer, better community can still put a financial strain on families.
Luckily, you can decrease this strain in several ways:
- Comparing the costs of different rooms and floor plans
- Getting long-term care insurance
- Looking into a reverse mortgage
- Offsetting the costs of senior living by selling a past home
When you look into financing options, you'll be able to choose a nicer community for your loved one to live in. This makes the transition from life at home to community living as seamless as possible.
Find Affordable Senior Living in Latrobe, PA
Now that you know the cost of assisted living in elder communities, it's time to begin looking for a great community for your loved one.
Barnes Place Personal Care is excited to offer a wide range of floor plans and community amenities so you can get the most bang for your buck.
Our compassionate care professionals are committed to ensuring that your loved one has all their needs met with a smile. Contact us to learn about our pricing plans and what financing options are available.