Senior Housing Costs – They are a lot higher than most of our clients expect. When they first call us they are blown away – so I am hoping to educate you before you need to know! I found this information to be a nice breakdown:
According to American Association of Homes and Services for the Aging (www.aahsa.org)
The average daily cost for a private room in a nursing home is $213, or $77,745 annually.
The average daily cost for a semi-private room in a nursing home is $189, or $68,985 annually.
The average monthly cost of living in an assisted living facility is $2,969, or $35,628 annually. ( I would say this is more like $4000 in the Chicago area.)
The average monthly cost of living in a not-for-profit Continuing Care Retirement Community (CCRC) is $2,672, or $32,064 annually. (In my opinion – this is to live in the “independent” section – the rates for AL would be closer to $3500 and for nursing care $200 a day… and this is not including the money you sometimes have to put down upfront which could be $50K-250K)
The average monthly rate for assisted living facilities that charge additional fees for Alzheimer’s and dementia care is $4,270, or $51,240 annually. (Again – I would have to say it is closer to 6K here in Chicago. I know one family that has a rather young individual in this and she shares a room and pays around 8K a month.)
To move into a community, individuals must also pay an entry fee ranging from $60,000 to $120,000. (Again, as mentioned above by me, this would be for the CCRC – and there are lots of communities in Chicagoland that are purely rental.)
The average hourly rate for a certified home health aide is $32.37.
The average hourly rate for a uncertified home health aide is $19.00.
The national average daily rate for adult day centers is $61. (2007 MetLife Market Survey of Adult Day Services & Home Care Costs)
The national average hourly rate for homemakers/companions is $18. (2007 MetLife Market Survey of Adult Day Services & Home Care Costs)