Cheapest (And Most Expensive) Cities For Assisted Living: The landscape of assisted living costs across the United States is experiencing significant shifts, with some states seeing dramatic increases while others offer more affordable options. According to recent data from Seniorly, a leading senior living marketplace, the cost of assisted living varies widely from state to state, reflecting changing demographics and market demands.
Cost Variations Across States
New Hampshire currently leads as the most expensive state for assisted living, with an average monthly cost of $8,248. In stark contrast, Louisiana offers the most affordable option at $2,946 per month. This substantial difference highlights the importance of location in determining senior care costs.
National Trends
The national average for assisted living costs stood at $4,401 per month in 2023, marking an 8% increase from 2021. This rise outpaces general inflation, putting additional pressure on seniors and their families to plan for long-term care.
Most Significant Changes
Wyoming experienced the most dramatic increase, with costs surging by 53% from $3,845 to $5,894 monthly. Conversely, Washington saw the largest decline, with costs dropping by 16% from $4,995 to $4,176.
Affordability Metrics
To contextualize these costs, Seniorly calculated how long it would take the average American to save for a year of assisted living. Using current earnings and savings rates, it would take approximately 17.2 years. New Hampshire residents face the steepest challenge, needing 26.8 years of savings to cover just one year of assisted living.
Comparison to In-Home Care
In-home care costs also vary significantly by state. Minnesota tops the list for home health aide expenses at $7,333 per month, while West Virginia offers the lowest rate at $3,793. These figures provide an important comparison point for families weighing care options.
As the senior population continues to grow, understanding these cost variations becomes crucial for financial planning and decision-making. Families must carefully consider location, care needs, and financial resources when exploring senior living options.