What Is Senior Living? Costs, Benefits and Options

Senior living encompasses a range of housing and care options for older adults, from senior apartments and independent living communities for active seniors to nursing homes for those with significant medical needs. Determining who needs senior living and what type of community they should live in depends on how much care they need:

• Senior apartments and independent living communities: The senior meets community age requirements and doesn’t need any care services.
• Home care and assisted living communities: The senior needs help with a couple of activities of daily living (ADLs), such as bathing and eating, but is otherwise independent.
• Memory care: The senior has symptoms of Alzheimer’s disease or another type of dementia, and they need help with ADLs.
• Nursing homes: The senior needs skilled medical care for short-term or long-term conditions.

The costs and amenities of each community usually depend on the level of care provided and whether or not residents are given a maintenance-free, all-inclusive experience. Each senior living option is detailed below to help you find the best community for your needs.

Senior living communities empower seniors to remain as independent as possible while supporting their unique needs, enhancing their quality of life, and providing peace of mind to their loved ones. The benefits of residing in a senior living community may include the following:

• Increased safety for older adults: Features such as secured campuses and environments specifically tailored to prevent falls can provide peace of mind.
• Socialization opportunities for seniors: Holiday celebrations, educational classes, and more keep seniors engaged with their peers.
• Healthy meals designed to support aging adults: Chefs and nutritionists may accommodate seniors’ unique dietary needs.
• Low-stress lifestyles: Senior living staff may handle maintenance, laundry, housekeeping, and transportation services.
• Wellness support tailored to seniors: Personal care planning and care coordination services may be available.

Typically, the more specialized a senior living option is, the more it will cost. For example, nursing homes remain the most expensive senior living option while offering the highest level of care possible outside of a hospital setting. Other features like location, care type, floor plan, services and amenities, and pricing model will affect the monthly cost of senior care. 

Knowing what real families paid for care options can help you better plan for care and understand your budget. Below, you’ll see the monthly median senior living costs across the nation based on data from A Place for Mom’s 2024 Cost of Long-Term Care and Senior Living Report. 

When it comes time to cover the costs of senior care, families use both private and public pay options. Private payment methods include using funds from personal accounts, retirement savings, social security, and insurance. Some families may use public pay options, like Medicare, Medicaid, and Veterans benefits. 

Moving can be a big adjustment, which is why it’s best to plan ahead. Consider the significant change you or a senior loved one will go through.  A successful move is key for a positive transition into a new environment and lifestyle.

Below are some top tips for an easy senior living move:

• Choose one room at a time for packing and downsizing.
• Consider hiring a professional senior relocation service.
• Work with a geriatric care manager to make sure there is e access to health care providers and prescriptions after the move.
• Consider mobility needs to find the best way to travel, whether by car or plane.