2023 REPORT . A PLACE FOR MOM
As the nation’s largest senior living referral service, A Place for Mom aims to help seniors and their families find the best care fit for their individual needs. Only about 34% of families surveyed by A Place for Mom were prepared for senior living costs in 2023, while over 60% found cost and financing information helpful when selecting a community. The data presented in this report paints a clear picture of how much seniors can expect to pay for care.
We’ve worked with several providers from our network of over 100,000 senior living partner communities and home care providers to compile long-term care cost data so families know what to expect. The metrics shared below reflect actual costs paid by seniors living in A Place for Mom’s partner communities between 2022 and 2023. These prices are all-inclusive based on the care and amenities each community offers. Home care costs are calculated as hourly rates, since monthly prices can vary based on the amount of contracted care a senior needs.
This data reflects median monthly costs — that means that half of communities may charge more than the given number, while half of communities may charge less.
The cost of senior living is dependent on the level of care provided by a community, as well as the amenities, services, and activities available. Because different types of senior living offer different levels of care, prices may vary greatly from care type to care type.
Median monthly cost per state
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Learn how A Place for Mom established costs based on median values, collection periods, and sample size.
A Place for Mom compiled data from three types of senior living community: assisted living, memory care, and independent living. We collected monthly cost data at the time of each senior’s move-in and over the subsequent year to paint a comprehensive picture of how much families pay for an all-inclusive senior living experience. Since first-month upfront costs can be different from subsequent monthly fees, we use an average of that one-year period to establish the most comprehensive, correct monthly costs. Data used in this report was collected between 2022 and 2023.
• Memory care (sample size: 11,400 facilities). Monthly memory care expenses reflected in this report’s data include rent, personal care services from staff trained in dementia care, and community fees for services, amenities, and safety features.
• Assisted living (sample size: 27,500 communities). Monthly assisted living costs include room and board, three nutritious meals a day, scheduled activities, and medication management services.
• Independent living (sample size: 12,600 communities). Independent living costs cover room and board, as well as community amenities and maintenance.
Home care cost data is based on starting hourly rates reported in 2023 by 767 of A Place for Mom’s home care partners. Actual costs depend on the level of care a senior needs and the hours of care they contract per week. Most home care agencies require a weekly minimum of seven hours, and some offer up to 24-hour or live-in care options. The industry standard for “full-time” care is 44 non-sleeping hours per week, which equates to $5,720 a month, based on the national median hourly rate from A Place for Mom’s network of home care providers.
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Most families use private funds to pay for assisted living. Insurance, VA benefits, and home equity can also help cover costs.
Veterans and their spouses may be eligible for VA financial benefits that can help cover costs of senior care. Find out how to apply.
Understand the ins and outs of Medicare and Medicaid to see how you can use these programs to pay for senior care.
Long-term care insurance can help cover assisted living costs. However, there are important factors to consider before purchasing a policy.
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