There’s a new set of data in town to help seniors and their families plan for costs of care. The Senior Living Cost Index from A Place for Mom now aggregates actual costs reported by families moving to senior living, assisted living, and memory care communities between 2012 and 2015.
Searchable by cities and metro areas, as well as over time and across regions, APFM data offers a range of expenses that 95% of families face, rather than simply reporting median monthly costs based on surveyed list prices.
Key trends show rising costs for all care types, consistent with nationwide economic recovery. Regions hardest hit by the recession, the US West and South, show the steepest cost accelerations. Overall, growth is strongest for communities catering to independent seniors.
The cost of senior living is rising faster than the rate of inflation but slower than the real estate market, which is good news for those who need to sell a house before moving to a senior living community.
Source: A Place for Mom. Senior Living Cost Planner
