What State Has the Cheapest Assisted Living?
Cost of assisted living is determined by many factors. A major factor is location, with assisted living facilities in cities typically costing more than those in smaller towns. Because of the higher real property value and higher business costs, urban areas tend to be more expensive than rural areas. Moving to a smaller area can reduce your cost by up to 25%. You can also save money if you move to another state. Living in Minnesota, for example, will help you save $698 on the average Illinois cost for assisted living.
Texas
Texas has the most affordable assisted living communities, even if you are on a tight budget. There are 71 facilities located in Austin, which has a growing senior population. The average monthly cost for an assisted living facility in Austin is $5395, which is 44% more than the Texas average. There are many types of assisted living communities across Texas. They vary in their price. Some communities offer a higher level of care than others.
New York City
There are many reasons to choose New York City. It has a diverse population. One in five New Yorkers is 65 and over. This group is growing in diversity, despite the significant increase in its population. Nearly half speak 90 languages at home and have earned an advanced degree. The LGBTQ community includes thousands of seniors. It makes sense to live and work in New York City when you consider these factors.
South Carolina
If you are looking for assisted living in South Carolina, you have many options. As a South Carolina state, assisted living is among the most affordable, and the costs vary greatly by region. Seniors living in the northern and central parts of the state will pay significantly less than those in the southern and coastal areas. For example, the cost of an assisted living apartment in Sumter, SC is significantly lower than the average cost of an assisted living apartment in Charleston.
Kansas
While the national median for assisted living is $4,030 per month, the cost of assisted living in Kansas is considerably less. In fact, the state has some of the lowest rates of assisted living in the country, with an average cost of $4,188 per month in Wichita and around $4,000 in Lawrence. While assisted living is much cheaper than long-term care solutions in Kansas, it is still significantly more expensive than independent living in many other cities.
New Mexico
New Mexico has an average monthly cost of $4,250 for assisted living. This is slightly more than the $4,100 national median, but it is not as high as neighboring states. Prices in Santa Fe and Farmington are relatively cheap, too, at around $4,500 and $4,350, respectively. As the population grows older and becomes more disabled, so does assisted living. Compare the rates of assisted living in each state to determine which one is the most affordable.
Georgia
While assisted living can be costly, Georgia’s cost of assisted living is much lower than the national median. The Genworth Cost of Care Survey found that Georgia has the lowest monthly cost of assisted living in southeastern United States at approximately $2,520 per month. South Carolina and Florida offer similar costs. If you’re looking to save money, consider moving your loved one to a Georgia assisted living facility.
Georgia has the cheapest assisted living
The median cost of assisted living in Georgia, according to the Genworth Financial Cost of Care Survey is $3,535 per monthly. That’s nearly a thousand dollars less than the average monthly cost of care for an American family. Many seniors can afford this kind of living, despite it being expensive. Georgia’s assisted-living costs are considerably lower than those of the Southeast, even though they are quite expensive in comparison to other states. Georgia is the Southeast’s most affordable state, at a cost of just almost two hundred dollars per monthly.
