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What Is the Average Cost of Assisted Living in 2022

Assisted living facilities, also known as senior housing, are a great option for seniors who can no longer live on their own but aren’t ready to move into a nursing home. These communities provide various levels of care and services that help seniors live more independently while also providing them with assistance and support when they need it. The cost of assisted living, however, can be much more than you would expect. If you’re considering assisted living as an option for yourself or your loved one in the future, it’s important to understand what the average cost of assisted living is in 2022 and how much it could cost you in your area. Read on to learn everything you need to know about assisted living costs in order to plan accordingly.

What is the average cost of assisted living in 2022?

The average cost of assisted living in 2022 is currently estimated to be $50,200 per year, or $36.36 per hour. This is based on a survey of the average cost of assisted living in 69 cities across the country. The actual average cost of assisted living will vary depending on your city, state, and individual circumstances. The cost of senior housing is expected to rise between 3% and 7% each year, depending on where you live. This is based on the projected rise in healthcare costs in the coming years. This is the amount the government estimates that the average senior citizen will spend on healthcare in 2022, so it’s no surprise that the cost of assisted living will rise in tandem.

Why is the price of assisted living so high?

The high cost of assisted living is due to a few things. First, the care you receive in an assisted living facility is nearly 24/7. Caretakers are on-site and available to help you at all hours of the day. If you need help with hygiene, medication management, or even getting dressed, someone will be there to help you. The other reason assisted living costs so much is simply supply and demand. There are an ever-growing number of seniors in the U.S. who need assisted living, yet the supply of available beds is growing at a much slower rate.

How much does assisted living cost by service?

Assisted living costs vary from city to city and state to state, but the average cost of assisted living breaks down into specific services as follows:

Assisted Living Costs by Service

  • Room and Board: $38,000 per year
  • Personal Care: $8,200 per year
  • Housekeeping: $1,400 per year
  • Food: $400 per year
  • Social Activities: $100 per year
  • Medical Care: $3,400 per year
  • Personal Emergency: $1,800 per year
  • Transportation: $2,000 per year
  • Security: $300 per year
  • Total: $50,200 per year

Assisted living costs vary widely depending on the specific services that you need. There are a number of different services that an assisted living facility can provide, which we’ll discuss in a moment. Some are included in the price of assisted living, while others will cost you extra.

Assisted Living Costs for Care Services Only

One of the most common questions people ask when considering assisted living is, “How much does assisted living cost for care services only?” It’s important to understand that assisted living facilities are required to provide more than just care. There are a number of different services that an assisted living facility must provide, including:

  • Room and board: You will pay a monthly or weekly rate for housing in an assisted living facility. Some facilities charge per person, while others charge per room.
  • Personal care: This includes assistance with hygiene, medication management, dressing, and eating.
  • Housekeeping: This is the cost of keeping your room clean, doing laundry, and keeping your facility sanitary.
  • Food: This is the cost of meals provided at your facility. Depending on the facility, you may have a few different meal choices each day.
  • Social activities: This is the cost of providing you with activities and stimulation.
  • Medical care: This is the cost of providing you with 24/7 in-house medical care.
  • Personal emergency: This is the cost of providing you with assistance in the event of an emergency.
  • Transportation: This is the cost of providing you with transportation to and from your doctor’s appointments.
  • Security: This is the cost of providing you with security at your facility.

What Are The Most Important Things to Know About Assisted Living Costs?

Costs vary greatly depending on where you live:

As we’ve discussed, the average cost of assisted living is currently $50,200 per year, which is a good general estimate for 2022. However, the actual cost of assisted living in your specific city will vary greatly depending on various factors. The average cost of assisted living in Los Angeles, CA, for example, is $68,000 per year, while the average cost in Indianapolis, IN, is only $34,000 per year.

Costs will continue to rise:

The cost of assisted living is expected to rise between 3% and 7% per year, depending on where you live. Given the current amount, it’s important to make sure you’re getting the best value for your assisted living cost.

Understand what you’re paying for:

When you’re researching assisted living facilities, make sure you understand exactly what you’re paying for. Every facility will offer different services and different rates. Make sure you understand exactly what your budget will cover so you don’t find yourself needing additional care.

Conclusion

The average cost of assisted living in 2022 is currently estimated at $50,200 per year. Assisted living facilities provide various levels of care and services that help seniors live more independently while also providing them with assistance and support when they need it. The cost of assisted living will vary based on your city and which services your facility offers. The cost of assisted living is expected to rise between 3% and 7% per year, so it’s important to understand what you’re paying for and make sure you’re getting the best value.