How much does assisted living cost?

According to Genworth’s Cost of Care Survey, the national median cost of assisted living (for a private single room) was $4,300 per month in 2020. But look closer, and you’ll see that costs can vary based on a number of factors. 

Let’s take a look at what can affect the cost of assisted living.

Will assisted living costs increase?

The cost of assisted living continues to increase over time.

In 2004, when Genworth began tracking assisted living costs, the median monthly cost of assisted living care in the United States was $2,400.

Today, the median monthly cost is $4,300.

COVID-19 has also contributed to an uptick in costs. Genworth’s research shows these rate increases have been caused by labor shortages, wage demands, more stringent CDC requirements, and more.

If history is any indication, costs will continue to steadily increase.

For those looking to make a plan for care and better financial predictability, a Continuing Care Retirement Community may be the answer. In Inclusive (Type A) CCRCs, residents pay a higher entrance fee but can access the entire continuum of care for one monthly fee.

Cost of assisted living vs. other senior care

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Independent living

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Skilled nursing

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Assisted living costs vs. home care costs

In-home healthcare is also an option for seniors interested in aging in place at home. 

Costs for these services vary by the usual factors — particularly geographic location — as well as the number of hours of care required each month.

According to Genworth’s 2020 Cost of Care survey, the monthly median cost for an in-home health aide providing eight hours of care per day, five days a week, was $4,160. 

For seniors requiring around-the-clock in-home healthcare, the monthly median cost skyrocketed to $17,472.

Cost of assisted living at Vi communities

Most Vi communities are Inclusive (Type A) CCRCs, which means care costs are included in the monthly fee, regardless of where you are on the continuum of care. That means that these residents would continue to pay the same monthly fee after moving to the care center. 

At Vi, as with many other communities, monthly fees increase annually, but a resident’s monthly fee still won’t change if they need to move to a higher level of care.

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Some Vi Communities operate with a Fee-for-Service (Type C) model. Under that model, residents have access to the care they need, but monthly fees will increase based on standard market rates for the care services required.

Costs for couples living between independent living and the care center

If one member of a married couple living at Vi requires a higher level of care, their spouse can remain in independent living while the other moves to our care center. 

If the couple has chosen an Inclusive (Type A) CCRC contract, they will pay only independent living monthly fees — there is no increase in monthly fees for the spouse who moves to the care center, with the exception of fees for ancillary items, extra meals, etc.

For couples on a Fee-for-Service contract, the monthly fee will increase to reflect standard market rates for the higher level of care.

Services and amenities for additional costs

In Vi communities, certain offerings are available but not covered by entrance or monthly fees, including:
  • Physical, speech and occupational therapy
  • Ancillary medical supplies and services
  • Pharmaceutical services
  • Personal aide services
  • Personal transportation
  • Personal laundry service and dry cleaning
  • Salon and barbershop services
  • Guest meals
Host smiling with a menu.

Vi’s team is always available to answer your questions about assisted living costs and CCRC costs — even if you don’t ultimately choose to move into a Vi community.