Nursing Home Costs
What does in-home care cost?
Although the costs can vary by location and by year, the national average cost of in-home senior care in 2017 was $21 per hour.
In-home senior care givers typically visit a few times a week to perform such services as grooming, home chores, cooking, transportation, and more.
The cost doesn’t include housing costs, groceries, medical care, or utilities, all of which are paid separately.
How much do assisted living communities and nursing homes cost?
Assisted living communities cost, on average, $3,750 per month in 2017. The price may vary depending on the location and the degree of medical care required, however.
The price does include the cost of the apartment, utilities, other housing costs, basic health services, and may even include social and recreational activities. Nursing homes offer 24-hour supervision and access to high-quality medical care and so cost more than assisted living.
The average cost in 2017 of a shared room in a nursing home was $6,810 per month. This price covers all daily needs, housing costs, medical care, and social and recreational activities.
How much does a retirement community cost?
Most retirement communities are paid for with a one-time entry fee, followed by minimal monthly payments.
The entry fees can usually range from $60,000 to $300,000 with monthly fees from $500 to $3,000.
These costs cover all needs and expenses while allowing seniors to live in a home-like environment with familiar people.