Independent Living Costs in 2024
How much does independent living cost?
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Independent Living Costs: Key Takeaways
- The median monthly cost for independent living facilities in the United States is $3,065. By 2040, this could rise to over $4,100 a month.
- Maine has the highest median costs for independent living at around $6,162 a month.
- Mississippi has the nation’s lowest median costs, at around $1,282 a month. This is 58% lower than the national average
- Independent living can offer a wide range of housing styles and costs. Benefits include maintenance-free living, activities, meals, and socialization. When deciding, consider amenities, location, and costs.
- If you need assistance, consider assisted living rather than independent living unless you are willing to hire help to come to your home.
Independent senior living continues to be a viable and attractive option for many older adults. The reasons are cost, diversity of choices, and communal atmosphere. Our nationwide survey of thousands of senior care and living facilities will give you up-to-date, accurate pricing in your area.
Table of Contents
National Median Costs for Independent Living Communities in 2024
Based on our research of thousands of senior care facilities, the median monthly price of independent living is $3,065. By 2030, those costs could rise to over $ 4,100 a month.
According to J.D. Power, senior living prices in the third quarter of 2023 increased 5.4% on an annual basis industry-wide. The definition of independent living is broad, so pricing depends on the kind of independent living facility you choose. Most traditional independent living communities are part of an assisted living building or as a part of a Continuing Care Retirement Community. Here are some key factors that affect costs:
- Location: If real estate and the cost of living are lower than the national average, you can expect to pay less. Conversely, you can anticipate paying more if real estate prices are higher.
- Floor plan and unit size: Larger floor plans with more square footage will cost more.
- Amenities: Some independent living communities have a pool, movie theater, fitness center, and other facilities for residents to enjoy. Others will have very few amenities due to the age of the community and where they are located. The more amenities there are, the higher the cost.
- Corporate ownership: You may find wide variability within your community based on for-profit or non-profit ownership. Even among for-profit communities in the same location, there could be a range of pricing.
Independent Senior Living Costs By State
The table below will give you an idea of the significant range of pricing across the country. For example, Maine has the highest typical monthly cost for independent living at over $6,100. That cost is higher than some assisted living communities in other parts of the country. The reasons for Maine’s high costs can give you an idea of the factors affecting pricing. Here are two key factors driving up prices in Maine:
- Demographic trends: Maine has an aging population: 22.5 percent of residents are 65 or older, and the state is the oldest in the U.S. with a median age of 45.1. This places more demand on senior housing. This increased demand can put upward pressure on prices.
- Limited supply: Across the state, an affordable housing shortage impacts Mainers of all ages, including seniors. At the same time, care facilities for older adults are closing rapidly due to insufficient staffing and lack of funds.
By contrast, Mississippi has one of the lowest median monthly independent living costs at $1,281. Mississippi has some of the nation’s lowest living and housing costs, which would create conditions for more affordable independent living for seniors. Compared to Maine, Mississippi is one of the younger states in the nation, and only 17 percent of its residents are aged 65 or older. This means there is less demand and competition for senior housing facilities.
| State | Estimated monthly cost for independent living | Difference from national average cost |
|---|---|---|
| Alaska | $3,654 | 19% |
| Alabama | $2,481 | -19% |
| Arkansas | $4,128 | 35% |
| Arizona | $2,354 | -23% |
| California | $3,612 | 18% |
| Colorado | $5,244 | 71% |
| Connecticut | $4,661 | 52% |
| Delaware | $3,862 | 26% |
| Florida | $4,502 | 47% |
| Georgia | $3,127 | 2% |
| Hawaii | $5,186 | 69% |
| Iowa | $2,473 | -19% |
| Idaho | $1,319 | -57% |
| Illinois | $2,127 | -31% |
| Indiana | $2,888 | -6% |
| Kansas | $2,010 | -34% |
| Kentucky | $3,816 | 24% |
| Louisiana | $2,578 | -16% |
| Massachusetts | $4,008 | 31% |
| Maryland | $2,154 | -30% |
| Maine | $6,162 | 101% |
| Michigan | $3,008 | -2% |
| Minnesota | $2,053 | -33% |
| Missouri | $3,527 | 15% |
| Mississippi | $1,282 | -58% |
| Montana | $3,153 | 3% |
| North Carolina | $2,797 | -9% |
| North Dakota | $1,869 | -39% |
| Nebraska | $1,917 | -37% |
| New Hampshire | $3,298 | 8% |
| New Jersey | $4,536 | 48% |
| New Mexico | $2,937 | -4% |
| Nevada | $3,430 | 12% |
| New York | $3,992 | 30% |
| Ohio | $2,514 | -18% |
| Oklahoma | $1,908 | -38% |
| Oregon | $4,661 | 52% |
| Pennsylvania | $2,420 | -21% |
| Rhode Island | $4,690 | 53% |
| South Carolina | $3,349 | 9% |
| South Dakota | $1,566 | -49% |
| Tennessee | $4,243 | 38% |
| Texas | $2,338 | -24% |
| Utah | $2,829 | -8% |
| Virginia | $5,011 | 63% |
| Vermont | $4,695 | 53% |
| Washington | $3,496 | 14% |
| Wisconsin | $1,940 | -37% |
| West Virginia | $1,966 | -36% |
| Wyoming | $2,725 | -11% |
What Are the Benefits of an Independent Living Community?
Independent living comes in many flavors, giving seniors several options depending on their preferences and budget. Some of the benefits of independent living include:
- Community and socialization opportunities. Loneliness is a serious risk factor for mental health problems, and independent living offers socialization on your terms. In many independent living communities, all the activities open to assisted living residents are also available for independent residents.
- Maintenance-free living. One of the primary appeals of independent living is being free of labor-intensive home maintenance chores, such as cutting the lawn or performing home repairs. Some communities offer laundry and housekeeping services as well.
- Dining facilities. Some independent living communities have separate dining rooms for their independent residents and another for assisted living. Chef-prepared meals and snacks, happy hours, and other special events are common.
- 24-hour security. In some locations, you can expect 24-hour security and staffing.
What are the Types of Independent Living Communities?
Let’s review the different types of independent living communities. Each has pros and cons, so having a list of priorities and a budget will help you make a wise choice.
Continuing Care Retirement Communities (CCRCs)
CCRCs are facilities where they have all levels of senior care on one campus. You can begin in independent living and transition through all the way to nursing home care. Most CCRCs require a significant investment up front and some have additional monthly costs. CCRC contracts are notoriously complex, so it may be worth asking an attorney to review any CCRC agreement. The advantage of a CCRC is that you don’t have to look for a different location when you require more care. Also, your social connections will remain intact as you move across care communities. Many CCRCs have swimming pools, classes, fitness centers, and more.
Age-Restricted Retirement Communities
Age-restricted communities can be in high rises, cottages, townhomes, mobile homes, or even large planned developments like Sun City in Arizona or Margaritaville communities. Most of these are purchase options with a range of amenities. In developments like Sun City, some activities, like golf, could have additional costs.
Subsidized Senior Housing
Subsidized senior apartments have below-market rent subsidized by the U.S. Department of Housing and Urban Development (HUD). Section 8 Housing Choice Vouchers provide rental assistance to eligible individuals, allowing them to choose their own housing in the private market. Another type of subsidized senior housing is from non-profit organizations that operate subsidized senior housing developments with funding from government grants, donations, or other sources.
Senior Apartments
Senior apartments may be stand-alone developments or part of a larger care continuum, such as assisted living or a CCRC.
Independent Living vs. Assisted Living
Choosing between independent and assisted living can be challenging, but understanding the difference can help you decide. Most people think they can age in place in independent living, and some can, but as you age, consider the kind of help you might need.
Independent Living
The most important characteristic of independent living is that no assistance is available for activities of daily living. If you need help, you must hire a home care company or ask family to assist you. If your care needs exceed what you can get at home, you may have to consider assisted living. At some point, the cost of paying for care in independent living may exceed that of assisted living. If family members cannot provide the level of assistance you need to remain in independent living, it may indicate you need a higher level of care.
Assisted Living
Assisted living facilities, on the other hand, can provide round-the-clock assistance at the highest level of care. All meals, activities, and other amenities are included, but you could pay an additional amount as your care needs grow. Over time, assisted living communities work with frailer older adults and accommodate their needs within their state requirements. Most communities have an on-demand aide service, but nursing availability will be limited. You still have the luxury of privacy in your apartment but the availability of socialization when you want it.
How to Decide Between Independent Living and Assisted Living
Some older adults will only consider independent living first, even if they may need to move relatively soon. Take an honest look at your current situation and where you see yourself in the next few years. Moving is stressful, and it is advisable to avoid making several moves.
- Choose independent living if you are healthy and have few major medical problems.
- Choose independent living if you don’t need help with any activities of daily living like dressing, bathing, transferring, shopping or cooking.
- Choose independent living if you are ready to be free of household responsibilities and want opportunities for socialization.
- Choose assisted living if you have chronic medical problems that are likely to worsen over time. Examples of these include neurological disorders, COPD, kidney failure, heart or respiratory problems, dementia, etc.
- Choose assisted living if you are beginning to struggle with cooking, cleaning, dressing, bathing, or mobility.
How to Pay for Independent Living
Many assume that Medicare pays for senior living when it does not. Medicare only pays for time-limited skilled nursing care following an accident or worsening of a medical condition. Long-term care insurance may not pay either since independent living does not provide care. A long-term care insurance plan may pay for private duty home care in assisted living if and when you need it. There are several ways to pay for independent living, such as:
- Sell your home or take out a line of credit if you don’t want to sell.
- Rent your home to increase your income while retaining ownership.
- Cash-out retirement funds.
- Consider a reverse mortgage.
- If you have a life insurance policy, see if there is an option for a life settlement that allows you to sell your policy to a third party for a lump sum.
- Evaluate your Social Security and pension income to see how they will offset the cost of independent living.
- If you are a veteran, look into veterans’ benefits that might help with the cost of independent living.
- If you own your home, consider home cost savings such as insurance and maintenance. You won’t have these costs in independent living.
Independent Living Could Be Your Next Step
Independent living costs will likely increase everywhere, but at different rates, depending on where you live. Still, independent living can be an attractive option due to the generally lower costs and the availability of diverse amenities. Evaluate your current and future care needs and financial situation to make the best decision.
Our data
SeniorLiving Research contacted U.S. senior facilities by telephone to obtain service pricing. Facilities that accept Medicare and/or Medicaid were contacted across all 50 states from a dataset of facilities sourced from The Centers for Medicare & Medicaid Services. 3,987 senior facilities provided senior care costs. The collection spanned 16 months from December 2020 – March 2022. To estimate costs for 2024, we applied industry-specific inflation rates to the previously collected pricing data to estimate the current pricing.
Where independent living options included more than one floor plan, we averaged the minimum and maximum independent living prices to determine the average independent living price for that facility. State costs reflect the median independent living cost of facilities in that state. Where our sample did not include pricing for a state, we used estimates based on the National Council on Aging (https://www.ncoa.org/adviser/local-care/independent-living/) and government sources.
Some facilities require an entrance fee lump sum payment to move in, sometimes called Continuing Care Retirement Communities or CCRCs. For those facilities, we use their stated monthly rates assuming the retiree uses the lowest entrance fee that yields the highest monthly fee. When facilities offer an optional lump sum entrance fee to lower monthly payments, we use the No Entrance Fee pricing.
How Can I Find Nursing Homes Near Me?
You can explore an array of nursing homes and skilled care providers with ease by using our comprehensive nursing home directory. Our database allows you to search by ZIP code or state and then lets you narrow down your search by specific needs or preferences.
