Assisted Living Costs/Trends

Monthly Assisted Living Costs Surpass $4,000 (article by Tim Regan, Senior Housing News). This year’s cost increase for Assisted Living Facilities is 1.28%, compared to last year’s increase of 6.7%.  The declining increases can be attributed to oversupply as well as other alternatives to care.  Understanding how to navigate a reduced census due to oversaturated markets is vital to succeeding during this downturn in growth rate.

Read the article below:

The cost of assisted living rose 1.28% in the past year, according to the latest Cost of Care Survey from insurer Genworth Financial (NYSE: GNW).

The national median cost for a one-bedroom unit in an assisted living community is now $4,051 per month, or $48,612 per year, according to the survey. The five-year annual growth rate for assisted living costs clocked in at 2.97%.

This year’s cost increase was dramatically less than last year’s cost of care increase of 6.7%. That may have something to do with oversupply.

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