Cost of Living

The cost of senior living varies from state to state, community to community, and on the level of care needed. In most situations, senior living communities cost more than living at home, but in most cases, total senior living costs are significantly less than in-home care costs. Not to mention the daily assistance being provided in senior living enhances the quality of life and improves a senior’s health and safety.

There are several other considerations that play a big role in the final decision in choosing senior living. It is important to compare apartment sizes. A 500-square-foot apartment will obviously cost less than a 1,000 square-foot two-bedroom in the community. Also, it is important to know if a level of care is required for a resident. Not all residents require the same level of care. The ones who need extensive help will often pay more than those who need help with fewer aspects of daily life.

It is important to know what is included in the price. Many communities include rent, utilities, maintenance, a full social event calendar, three daily meals, and housekeeping and household assistance.

If your main concern is affordability, Genworth’s Cost of Care Survey outlines the average daily, monthly, and annual costs of a private one-bedroom in an assisted living community. In Tennessee, the daily cost is around $124, monthly cost is $3,780, and annually $45,360. In Kentucky, the daily cost is around $108, monthly cost is $3,300, and annually $39,600.

For more information on the community’s cost of living, please contact the community or request a brochure.