When families begin looking into senior living options, price is often a major concern. Balancing quality care, personal preferences, and a budget can be challenging. Many families assume the cost of senior living communities is out of reach and instead opt for in-home care or skilled nursing facilities. So, what does senior living truly cost?
Average Cost of Senior Living
According to a survey conducted by Genworth Financial, the average monthly cost for Assisted Living in the United States is about $5,400, while skilled nursing facilities can average up to $10,000 per month.
Factors Affecting Senior Living Costs
Location
The cost of senior living varies significantly depending on the state, city, or even neighborhood you choose. Urban areas tend to be more expensive than rural locations.
Level of Care
The type and amount of care a senior requires will greatly impact the overall cost. For example, Memory Care communities are often more expensive than Assisted Living due to the specialized care and services included.
Amenities
Senior living communities offer various amenities that influence pricing. At Commonwealth Senior Living, we provide Signature Programs that enhance residents' well-being and daily experiences while allowing them to age in place. Some of these include:
- 24-Hour Emergency Call System - Safety is our top priority. Our emergency call system ensures help is always just a button press away.
- Specially Trained Caregivers Available 24/7 - Our caregivers undergo extensive training to provide compassionate and responsive care.
- Individualized Care Plans - Ensure residents receive the right level of support as their needs evolve.
- Daily Housekeeping & Weekly Linen Service - A clean, comfortable home without the hassle of upkeep.
- Travel the World Program - Each month, residents embark on an immersive cultural journey, exploring countries or states through themed activities, authentic cuisine, music, and events. Commonwealth Senior Living brings the world to residents with hands-on experiences, including guest speakers, special performances, and even local outings that align with the destination of the month. This resident program encourages engagement, learning, and connection, making every month an exciting adventure.
- Daily Activities, Trips & Social Programs - Stay active with a range of exercise classes, workshops, outings, and events.
Community Fees
At Commonwealth Senior Living, a one-time, non-refundable community fee is required upon move-in. This fee helps maintain the community, including suite upgrades and common area enhancements based on resident feedback.
Financial Assistance & Benefits Available
Veterans' Benefits
Veterans and their surviving spouses may qualify for the Veterans Aid & Attendance benefits,which can provide meaningful financial assistance toward the cost of care.
At Commonwealth Senior Living, our support goes even further through our Promise to Veterans, built around one simple truth: You served us, now it is our turn to serve you.
We partner with experienced elder law professionals to help eligible Veterans and families navigate the Aid and Attendance application process with confidence. In addition, we understand that moving into senior living can feel physically demanding and emotionally stressful. As part of our promise, we arrange and cover moving expenses up to $2,000. This tangible support helps ease the transition and ensures Veterans feel honored and supported from the very beginning.
Our commitment continues throughout the year, including a special ½ off offer during a Veteran's one-year anniversary month, as a way of celebrating their service and showing our ongoing gratitude.
Long-Term Care Insurance
Long-term care insurance can help cover senior living expenses that traditional health insurance, Medicaid, or Medicare do not. Policies may cover costs as early as day one if a senior requires assistance with at least two Activities of Daily Living (ADLs), such as bathing, dressing, eating, or walking.
Apartment Type
The size and type of living accommodations also impact costs. Private suites or one-bedroom apartments generally have higher monthly rates compared to companion suites.
Try our Cost Calculator to compare suite costs in your state with your current living expenses.
Planning Ahead for Senior Living Costs
Research & Compare Communities
Visiting different communities, reviewing their amenities, and considering future care needs will help you make an informed decision.
Reach out to the community nearest you and request our guide to choosing the right Assisted Living community
Financial Planning
Consulting financial professionals like advisors, elder attorneys, or realtors can help you develop a strategy for paying for senior living. They can assist with asset liquidation, long-term care insurance evaluation, estate planning, and more.
Your Future Starts with Commonwealth Senior Living
At Commonwealth Senior Living, we are committed to providing high-quality care with dignity, respect, and compassion. Our expert teams are here to guide you through every step of the journey with a customized plan for your family. Visit our communities page to schedule a visit today!