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What Affects the Cost of Senior Living (& How to Make It Work for You)

What Affects The Cost of Senior Living (& How To Make It Work For You)

Let’s be real; senior living doesn’t come cheap. But that doesn’t mean it’s out of your budget either. You may not realize that there are a several factors that can increase or decrease the monthly cost you’ll pay. Here’s what they are and the adjustments you can make to help your money go further.


We’ve gone over the different levels of care that senior living offers in a previous blog, but essentially, the higher level of care need, the higher the cost you’ll pay for senior living.​

How to Make This Work for You:

Look for communities like ours that offer multiple levels of care on the same campus. For example, if you don’t currently need daily assistance you could start in independent living and pay less now, yet have peace of mind that higher levels of care are available should you need them later. The additional benefit is that if/when you do transition, it’s much easier as you’re still in familiar surroundings and can maintain continuity of care.


Much like the real estate market, the cost of senior living is also affected by location. For example, in assisted living (per month):*

  • Assisted living in DC ~ most expensive – averaging $11,288
  • Assisted living in GA ~ least expensive – averaging $3,335

How to Make This Work for You:

Consider communities outside the city, in nearby towns or even in a different state to bring your monthly costs down.

*According to the most recent Genworth Cost of Care Survey


This is an area where you can really help your money go further. It comes down to what you need versus what you want because, as you know, luxury comes at a cost. Luckily, these added luxuries typically also come in the form of add-ons in addition to your standard monthly cost so it’s really your call as to whether (or not) they make sense for your budget.

How to Make This Work for You:

Common add-ons in senior living:

  • Type of residence – Choosing a studio or one-bedroom instead of two-bedroom
  • Pet fees – There may be less wiggle room here, excuse the pun, as our fur babies are part of the family. But there is typically an additional fee to bring your pet with you in senior living.
  • Concierge services – While certainly convenient if your budget allows, you could instead have family and/or friends help with shopping or errands, house sitting and/or pet services if you need to.
  • Private transportation – Again it’s much more convenient to go where you need, right when you want. However, communities like ours also have scheduled transportation for shopping and errands included in the standard monthly cost.

At Richfield Living you will find many options to suit your needs.

Learn more in our Dollars and Sense Financial Guide to Senior Living, or contact Richfield below to schedule a virtual tour.

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