Why Assisted Living Memory Care Facilities are Likely to Drop in Price
If you’re considering a senior living community that provides memory care or Alzheimer’s dementia care for yourself, a parent, or loved ones, it’s important to know how much assisted living memory care facilities cost.
You see, the cost can vary greatly depending on factors like assisted living vs. long-term care, the location, the level of care required, and any additional amenities needed.
America is Growing Older
The number of seniors in America is exploding, and according to ABC News, the senior population will grow by 80 percent in the next 25 years¹. This means more people than ever before will need memory care, dementia elderly care or assisted living options.
That’s why more assisted living, senior care, and senior memory care facilities are being built every month.
What Does it Cost to Live in a Memory Care Facility?
Every senior memory care facility provides a different level of care for its older residents. Therefore, the costs vary significantly from one facility to another.
Memory care assisted living, on average, costs more than basic assisted living or other types of senior homes because of the amount of specialized care required.
In the United States, the average cost of residing in a memory care facility is about $5,000 per month according to Caring.com².
However, unlike traditional senior living residences, memory care assisted living facilities are much more comprehensive.
Typical memory care assisted living facility includes, according to A Place for Mom³, a secure living facility, 24/7 onsite care, special programs, and social and therapeutic counseling.
However, Prices are Dropping…
While memory care assisted living can be expensive right now, prices are dropping.
In fact, it’s becoming much more affordable than the cost of letting the average senior age in place at home.
As Five Star Senior Living⁴ reports, memory care assisted living can now be found for just $3,000 per month – and, on average, that’s $2,000 less than the average cost of living at home.
Fortunately, the current increase in senior housing developments means there’s a surplus of available memory care assisted living options available right now.
Until the entire baby boomer generation passes into retirement age, assisted living and long-term care facilities will be looking to fill empty rooms.
If you know where to look, and If you look in the right places, you should find incredible deals.
How to Find Affordable Assisted Living Memory Care Options
Developers are offering discounts, deals, and incentives to get seniors who are ready to make the to move into these new assisted living memory care facilities.
So, while demand remains relatively low, prices for senior housing will be affordable
However, demand is already increasing, meaning affordable options won’t be around for long. As the baby boomer generation ages and develops rising health problems, more and more seniors will seek out memory care assisted living. As Garden of Palms5 reports, in 2017 1.5 million Americans needed memory care living facilities; in the next decade, that number will jump to 11 million.
For the best deals and lowest prices, seniors need to act now before demand increases.
Get Savings Ahead of the Senior Population
Make a move into senior housing designated for memory care now, and you’ll be able to save in the years to come.
However, you must do your research.
Research your city and local area to find out what kind of senior living opportunities are available.
Get started now – don’t wait until the number of seniors increases and deals disappear.
If you’re interested in an affordable memory care assisted living for yourself, a parent or loved one, start a search today.
