Assisted Living Costs Are Skyrocketing

The costs of senior living communities are rising across the country, and some of the steepest rises are happening in southern and western states.  “From 2014 to 2015, the median cost of rent and care at communities for older adults — independent living, assisted living and memory care centers — rose by $99 a month, according to newly released data from A Place for Mom.”  This article links to a useful interactive tool that people can use to compare prices of senior living facilities in various regions of the country.  There are a wide range of costs in different states.  As the elderly population continues to rise the inevitable increasing demand for senior living communities is going to continue to drive up the costs.  It is important to factor the rising costs of senior living facilities into any retirement plan. 

See Emily Gurnon, Assisted Living Now Topping $5,000 A Month In Some Places, Forbes, April 20, 2016.