“The Priciest Metros for Assisted Living, Memory Care,” by Mary Kate Nelson, Senior Housing News

“The general public may think the cost of health care—and, by extension, the cost of senior living—is rapidly increasing, but that’s not true. In fact, senior living costs are rising at a slower rate than health insurance premiums, hospital service costs and recent home sale prices, according to the 2017 National Senior Living Cost Index from Seattle-based senior living referral service A Place for Mom. . . . The median cost of assisted living and memory care in the U.S. in 2016 was $3,740 per month and $4,664 per month, respectively. New York, Boston and Washington, D.C., were the top-three most expensive metros for assisted living and memory care last year, the data reveal, while Tampa, Miami and Detroit were the top-three least expensive.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
With home prices rising faster than seniors’ housing, a reverse mortgage line of credit to fund aging in place becomes even more attractive . . . if Medicaid would just stop killing that option with its huge home equity exemption that pulls elders into nursing homes unnecessarily.

The Priciest Metros for Assisted Living, Memory Care