When approaching the topic of senior living, one thing is sure—everyone has questions about affordability. If changes in your health or lifestyle have you thinking about downsizing, or a recent visit with a senior loved one revealed concerns, you’re likely asking some of these questions right now.

Guide your search with answers to these commonly asked questions about senior living costs. Using questions shared by prospective residents and families and insight from senior living experts, our list will have you well prepared to tour any senior living community. (And be on the path to expert status in no time!)

Senior Living Costs: Your Questions Answered
 

Why do senior living prices differ so much by community?

Multiple factors affect differences in senior living costs, which vary by state and region:

• Location: Communities in sought-after residential areas will likely be more expensive than others. Is the community conveniently located near local attractions, parks, cultural landmarks, shopping centers, restaurants, churches, and other areas of interest? Those features are marketed as amenities and can affect the cost of the community.

• Services and amenities: What’s included? What’s not included? Each community offers services and amenities that impact living costs. Limited services and amenities may sound less appealing but can indicate a more affordable option.

• Type of rental: You might also notice a buy-in option in addition to or instead of a rental option. This option is often found in continuing-care retirement or life plan communities. It requires an upfront financial investment (usually $100,000 or more) and a monthly rental to ensure access to the community’s continuum of care.

• Size of the residence: The size of the residence, whether a studio, one-bedroom, two-bedroom, independent living cottage, or other option, is also a factor in price. Larger units are often charged at higher rates.

• Look and feel of the community: Brand-new communities with fancy light fixtures and high-end furnishings can come with an expensive price tag. Well-equipped with exciting amenities and services, they may offer introductory rates to entice new residents. However, rates can increase unexpectedly, with increasing monthly rental costs straining resident finances.
   

What is generally included in the monthly rental cost?

The monthly rental cost of a senior living apartment typically includes a range of services and amenities, from essential utilities and an accessible layout, to meals, maintenance, home safety and security, and hospitality services.

• An economical monthly rental option may offer basic amenities only and charge additional fees for optional services like housekeeping, laundry, meals, and transportation.

• In contrast, a more inclusive rental offers all of the above with concierge services, a full calendar of social events and programs, health and wellness services, and abundant lifestyle offerings.

• Lifestyle offerings often include access to all community rooms, gathering areas, and amenities like a fitness center, library, bistro or cafe, movie theater, salon and spa, walking trails, courtyards, gardens, art studio, pool, or chapel.
   

What is the cost of an apartment residence in an assisted living community?

Looking at assisted living communities, you can expect to pay around $4 - $7,000 monthly or more for apartment rental costs. When cost is a concern:

• Opt for a smaller-sized apartment. This will help to conserve resources. Most residents spend more time out and about than in their apartments. They use their apartment space as their private residence while enjoying all the community offers.

• Consider the community’s ability to provide access to supportive care services and how much you currently budget for these services if you or a loved one is living at home. The cost of in-home care can quickly add up but may be available in an assisted living community as a more affordable care package. This option can provide great convenience and peace of mind for family caregivers.
   

How do assisted living communities offer supportive care services? Are they included in the monthly rental?

In an assisted living community, supportive care services aid with activities of daily living (ADLs), such as getting dressed, showering, using the restroom, medication management, and mobility needs. While sometimes covered in a community’s monthly rental, these are often priced separately as a la carte services or tiered care packages.

Inquire about whether care services are included and what services the community can and is willing to provide.

Plan on budgeting additional funds to cover the cost of supportive care. A package could cost a couple of hundred dollars per month for an individual looking for basic assistance with medication management. If an individual needs assistance with getting dressed, showering, and medication management, the cost will be higher, up to $1500 per month or more.
 

Can assisted living communities provide support for individuals with dementia or early memory loss? What can I expect it to cost?

While some assisted living communities may not be equipped to care for individuals with cognitive change, many offer assisted living and memory care in one setting. These communities often have a memory care neighborhood in a section of the building with living options designed to support residents with cognitive change.

An assisted living and memory care community will likely include specialized memory care services as part of a comprehensive rental and care package that could start around $6000/$7000 per month for a shared or studio apartment. Specialized services, staffing levels, increased security features, and resident engagement to support cognitive health account for these differences in cost.

The monthly rental cost is higher in a memory care community as residents receive more frequent or higher levels of care to support their independence. Always confirm the levels of care (early, moderate, and advanced cognitive decline) a community can provide.
 

How do I know if community staff will take good care of my loved one?

When touring a community, observe how staff interact with residents, with each other, and with you. Do staff members make it their personal responsibility to ensure everyone is well-cared for? Are they simply doing a job? Ensure that your expectations are communicated clearly and sincerely, with consideration for your loved one’s quality of care and quality of life.

Look for compassionate, competent, and professional team members committed to supporting every resident's health, independence, and dignity. Look for relationship-centered communities that center life on the importance of connection and celebrate the unique contributions of all community members. Think about who you want to be by your side on your worst day and take time to get to know the people working in your/your loved one’s home. You can’t underestimate the importance of that human connection.
 

What is a “continuum of care” and how do I know if a community offers this?

A continuum of care refers to a community’s ability to provide supportive care for an individual’s changing care needs, either within one location or within a network of communities located close to each other. A continuum community can accommodate an individual’s increasing care needs within their network of services and support.

An assisted living community offering memory care is one example of a continuum model. In this model, residents can transition to a higher level of care (from assisted living to memory care) without having to search for a new community or contact an outside agency to coordinate care, which can be higher in cost and less consistent in quality.

In a continuum, care is provided by trusted caregivers who are members of the community’s team or respected professionals from a home care or healthcare agency that maintains an active partnership with the community. This helps to ensure consistency of care and respect for the preferences and needs of residents and their families.
 

Are there unexpected or hidden fees?

Below are a few examples of additional fees that residents and families will budget for in addition to a community’s monthly rent. Fees may or may not apply to every community:

• Community fee: a one-time charge when a resident moves into a community

• Annual rent increases: common in all senior living communities

• Supportive care services: assistance with daily living activities, medication management, mobility escorts, etc. (costs can vary)

• Salon/spa/barber shop services: additional fees per service

• Select events/outings: residents privately cover the cost of dining, shopping, and entertainment expenses for specific events and outings (museum admission, theater tickets, etc.)

• Pet fee: pet-friendly communities often charge a fee for maintenance-related costs

• Other services: if a community does not include transportation, housekeeping, or similar services in the monthly rental, residents budget for these separately.
   

What happens when funds get low?

When funds get low, residents have a few options, often discussed with the community’s executive director well in advance to avoid a financial crisis. A few options are listed below:

• Downsize to a smaller apartment

• Supplement resident care with assistance from family members to minimize the cost of care services. (For example, family members may be able to manage medication for a loved one.)

• Explore eligibility for benefit programs, such as the Veterans Aid and Attendance Pension

• Some family members assist by covering the cost of living and/or care for their loved one.
   

Still have questions? We can help.

Along with asking the right questions, a senior care counselor is an important resource when planning for senior living costs. At Stoney Brook senior living communities, prospective residents and their families can speak with a trusted expert to assess financial eligibility and receive guidance for making the best decision.

Our assisted living and memory care options provide a relationship-centered living experience, with access to supportive care and assistance, plenty of services and amenities, and a life-enriching culture of community and connection. Subscribe to ouor blog for more answers to your questions about senior living, and contact us to schedule a tour. See why moving to a Stoney Brook community has been “the best decision” for our residents!