Published 29 days ago • loading... • Updated 29 days ago

Can I afford assisted living?

The national median cost of assisted living in the U.S. was $70,800 per year in 2024, with nursing home semi-private rooms costing $111,325 annually, according to surveys by Genworth and CareScout.
Assisted living fees vary by facility and location, often including base fees for meals and housekeeping with additional charges for higher levels of care such as memory care, potentially increasing total costs by 20% to 40%.
Medicare does not cover long-term care, and Medicaid assistance varies by state and income but is more commonly associated with nursing home care rather than assisted living.
Experts recommend budgeting for two to four years of assisted living care for men and three to six years for women, based on long-term care claims data and financial planning guidance.

Insights by Ground AI