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Just 1.9 million residents of Colorado are eligible for a senior discount at their favorite watering holes. In other words, about 32.6 percent of the state’s residents are age 50 and older. This is one of the lowest rates in the country, which puts Colorado on the younger side when compared to other states.
What else can we learn about the state of Colorado’s seniors? In addition to having a bottom-10 percentage of older adults, Colorado’s median age of 36.9 is nearly two years younger than the overall U.S. median age of 38.5, and the state has the seventh-highest life expectancy.
The median household income in Colorado for those 65 and older is more than $50,000, putting the state just outside the top 10 when it comes to older adults’ income levels, and a slightly higher-than-average percentage of 55-and-older residents remain in the workforce.
*Includes Black, Native American, Alaska Native, Asian, Native Hawaiian, Pacific Islander or individuals of one or more other races, and Hispanic/Latinx people of any race.
Colorado's Senior Living Costs
Living in Colorado is not the cheapest place to live, but it's also not the most expensive compared to the national average. The average home health care costs are approximately $4,572 a month. This fee ensures that seniors can live well in their own homes while receiving some help to keep the house clean and run day to day errands.
Seniors in the state needing adult day care can expect to pay about $1,495 per month to stay at a supervised facility and participate in social activities to stay busy while their caregivers are busy or away.
If you or your loved one needs more help with day to day tasks, it's worth looking into an assisted living facility in Colorado. For an average monthly cost of $3,850 a month, elders are able to receive health services and personal care here.
Finally, nursing homes are available throughout the state for those who need 24/7 supervision and care. The cost for a semi-private room is roughly $7,663 a month, while a private room is about $8,547 a month. All nursing homes provide residents with personal care, medication, housing, supervision, skilled nursing care during the day and night, and therapies and rehabilitation.
Colorado's Living Options for Seniors
The senior living options in Colorado are plentiful. Retirees can pick between independent living, assisted living, memory care, or nursing home care depending on their needs. Read more about each one below and determine which one best suits your lifestyle.
Colorado is home to more than 170 independent living communities throughout the state. The average cost of independent living here ranges from $963 – $4,785 a month depending on a variety of factors like location. For example, retirees in the metropolitan areas can expect to pay more than those who live in the suburban areas. Seniors who are healthy and active, and don't require round the clock nursing care will do well with independent living.
Apartment living choices for seniors are plentiful in Colorado. The apartments provide everything needed to live a carefree, vibrant life. Senior communities here are typically located close to shopping, pharmacies, hospitals, etc. Every community will offer different amenities, but some popular ones include fitness centers, walking trails, clubhouse, meeting rooms, and more for residents to enjoy.
A plethora of assisted living facilities are available throughout Colorado to provide seniors with attentive caregivers, healthcare, access to local activities, and other social opportunities to help them feel at home. Similar to senior apartments, amenities will vary from place to place. However, residents can expect to receive help with housekeeping duties, laundry, transportation, meal services, and 24-hour safety surveillance.
The average cost of assisted living facilities in the state range from $1,752 to $8,700 per month. The most expensive assisted living facilities are located in the Colorado Springs metropolitan area, where prices range from $2,205 – $6,385 a month. On the other hand, the more affordable facilities are found in the Pueblo area, where prices range between $2,200 – $3,725 a month.
There are more than 300 memory care facilities in Colorado. Seniors dealing with Alzheimer's, dementia, and other ailments that affect their memory benefit from memory care. At memory care facilities, healthcare professionals work to identify and assess patient issues and provide customized care to help each patient get through the day. These facilities are monitored 24/7 to prevent patients from wandering and getting lost. Memory care costs in Colorado range from $2,540 to $12,615 a month.
In 2014 seniors over the age of 65 made up 13.2% of the states population, and projected to increase to 15.2% by 2020. The annual number of retirees is projected to go up by 74% between 2010 and 2025. The national average is only 27%. Currently, Colorado boasts over 840 senior living providers for the rapidly increasing senior population.
For a monthly fee of roughly $1,495 a month, Colorado seniors are able to take advantage of day care facilities where they'll be engaged physically, emotionally, and mentally. Staff are there to help the elderly get their daily walks in, try challenging puzzles, and participate in art therapy, to name a few. Activities will vary from one facility to another.
Terminally ill seniors can find peace and care at one of Colorado's 305 hospice facilities. Patients at a hospice will find trained staff who will help lessen their physical pain through medication and activities, and provide various types of therapy for coping with grief. Social workers, chaplains, and other support staff are provided to help patients and their families go through this difficult time with tranquility.
Lastly, Colorado has 327 respite care facilities to help provide relief to family caregivers. The average cost is $79,025 per year of care at a respite care facility. Respite care facilities go a long way in making life easier and more enjoyable for all involved with a loved one in their senior years.
Annual rental cost, Zillow Rent Index, States
Job openings, pulled from Indeed.com and SimplyHired.com in April 2020
Employment and wages, Bureau of Labor Statistics, May 2019 publication
Household income and population figures, U.S. Census Bureau, most recent publications on all topics