Assisted Living Market

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Assisted Living Rates Grow at Lower Rate Than Nursing Homes Year Over Year

The national median monthly rate for assisted living is now $3,500, a 1.45 percent increase from 2013 and 4.29 percent more than five years ago, according to insurance company Genworth’s annual Cost of Care report. Assisted living costs have displayed the biggest rise since 2009, compared with other senior services including nursing home rates, homemaker services, home health aide services, and adult day health care.

That growth is less than median nursing home rates, which jumped 2.62 percent last year for a semi-private room to $212/day and 4.35 percent for a private room to $240/day.

The most expensive location for assisted living is now the District of Columbia with a median annual rate of $82,674. Behind that, Delaware and Alaska both have median annual rates of $66,000. Assisted living in New England and Northeastern states, as well as Hawaii, also generally is higher priced than the rest of the nation. The lowest annual median rates can be found at $30,000 in both Georgia and Missouri. Southeastern and Western states are less expensive overall, with prices higher on the Pacific coast.

Genworth compiled its data from 43,300 providers across the United States, and this is the 11th annual survey.