How Much Does Senior Assisted Living Cost?

When you’re considering a move to assisted living, your search often starts with one big question: How much does it cost? 

The median price of assisted living is around $5,000 per month, but assisted living isn’t just a monthly bill. Assisted living brings together services and experiences that would be difficult to manage at home—from engaging events and programs to wellness resources, nutritional support, and team members who are on-site 24/7.

In fact, assisted living often costs less than your current monthly expenses while offering much more value.

In this guide, we'll discuss:

• What Does Assisted Living Include, and Why Is It More Than Just Rent?
• What Does Assisted Living Really Cost?
• How Do Assisted Living Costs Compare to Aging in Place at Home?
• Paying for Assisted Living: Options and Resources
• Finding the True Value in Assisted Living

Watch the video below for a simple breakdown of assisted living pricing models:   

What Does Assisted Living Include, and Why Is It More Than Just Rent?

Assisted living is designed for older adults who want to live as independently as possible, with the reassurance of having a helping hand when they need it. Whether that means support with activities of daily living (ADLs), such as getting dressed, taking a bath, or eating, or simply knowing that care is always close by, assisted living offers a balance of freedom and support.

The value of assisted living isn’t only about dollars; it’s also about your long-term well-being. Scientific studies show that older adults who choose senior communities live longer, receive more health services, and benefit from more personalized care. 

Many of these long-term benefits come from the support that assisted living provides beyond care needs and attentive team members, including:

• Convenient access to social activities, hobby groups, and continuing education opportunities 
• Someone else to do chores, such as housekeeping, laundry, and home maintenance
• Transportation to and from appointments and community-related social events
• Wellness events and programs designed to keep residents physically and mentally active
• Community outings to shop, enjoy local events and cultural activities, and more
• Gourmet-style meals that are tailored to each resident’s health needs (e.g., diabetic-friendly, heart-healthy, or allergy-sensitive)

When you choose assisted living, you’re not just paying for housing. You’re paying for a holistic package that covers a variety of weekly and monthly expenses in one convenient bill. 

What Does Assisted Living Really Cost?

The national median rate for assisted living is approximately $5,350 per month. While that may sound like a big number, it’s simply a starting point and not a universal price. To truly understand the cost of assisted living, you need to account for a variety of factors. 

What factors affect the cost of assisted living?

Location makes a big difference because a community in a highly desirable or urban area will likely cost more. The local cost of living also drives cost—for instance, assisted living in Missouri will cost less than in Massachusetts. Other cost factors include:

• Level of support: If you only want a little help with meals and housekeeping, you may pay less than someone who needs daily personal care.
• Apartment size and features: Whether you choose a studio or one-bedroom, an option with a patio, or a unit with high-end features, your preferences can affect the price.
• Community luxury amenities: If you choose a community with luxury amenities, such as a spa or concierge services, the overall cost may be higher.

How do senior living communities structure pricing?

Some communities offer inclusive pricing in which one monthly payment covers housing, meals, activities, and care. Others use a tiered model in which you pay a base rate plus an additional monthly amount depending on the level of assistance you need. A third option is a la carte pricing, which allows you to pay a basic monthly cost and then only for the services you use. This may be a good option if you don’t need much hands-on help day to day, but it can become expensive over time if your care needs change.

How Do Assisted Living Costs Compare to Aging in Place at Home?

When you take a close look at assisted living versus aging in place at home, the true cost of aging in place often adds up to just as much as—or even more than—assisted living without providing the same level of support or convenience. 

What goes into assisted living costs versus the costs of aging in place at home? 

Monthly assisted living costs cover almost everything already included in your monthly budget, including rent or mortgage, utilities, property taxes, groceries, entertainment, housekeeping, maintenance, and more. 

Living at home can come with challenges and expenses that may not be obvious at first. Beyond basic expenses, the average monthly price of in-home caregiving alone is $6,070. Health risks, including falls, poor nutrition, and social isolation, can lead to higher medical bills and a lower quality of life over time. If any of your family members step in as caregivers, they can be at risk of feeling stressed, experiencing burnout, and losing income.

What is the value of assisted living beyond the price tag?

Choosing a senior living community provides a variety of benefits that extend beyond the price tag. These intangible factors affect your daily well-being by providing:

• Safety and security: Assisted living provides safety features that help prevent falls, emergency response systems, and team members on-site 24/7.
• Social connection: With shared meals, group events and outings, and more, you’ll have daily opportunities to build friendships and reduce the risks of isolation, so you live a longer, more joy-filled life.
• Health and wellness: You’ll have access to meals designed to boost your long-term well-being, exercise programs, and on-site medical resources. 
• Peace of mind: You and your family members can relax with the knowledge that your needs are met and any emergencies will be promptly handled by caring professionals.

How do I calculate the true cost of assisted living?

To create a picture of how much assisted living will cost for you, take the following steps: 

• Add up your current living expenses. Don’t forget rent or mortgage, utilities, groceries, home maintenance, transportation, and any caregiving support.
• Compare that total against the monthly cost for assisted living at the senior living community of your choice. 
• Beyond basic expenses, take a moment to factor in the intangible benefits. Consider the peace of mind you’ll experience from knowing someone is there 24/7 to offer support, the ease of access to balanced meals and wellness programs, and the joy of easy daily socialization opportunities.

To make things easier, you can use a Senior Living Cost Calculator to stack up the numbers side by side. When you add up and directly compare all of these costs, assisted living is often equal in cost to or less than home-based care with more support included.

Paying for Assisted Living: Options and Resources

One of the most common questions people ask is, “How do I pay for assisted living?” You have a variety of options for covering the cost, and many people find that with a little planning, the financial transition is more manageable than they imagined. 

Common assisted living funding options include: 

• Personal savings or retirement accounts: Use funds from a 401(k), IRA, pension, or other savings—after all, these options were established exactly for this stage of life.
• Property sale: For many, a family home is their largest asset. Selling or renting that property can free up funds to cover assisted living expenses while eliminating the costs of home maintenance, taxes, and insurance.
• Long-term care insurance (LTCI): If you have an LTCI policy, it may cover some assisted living expenses. Coverage will vary by policy, of course, but this resource can help with out-of-pocket costs. 
• Veterans benefits: Eligible veterans and surviving spouses may qualify for the VA Aid and Attendance benefit, which provides monthly financial assistance for those who qualify. 
• Social Security or disability income: Monthly Social Security or disability benefits can supplement the cost of care.
• Life insurance: Some life insurance policies allow you to access their cash value or use accelerated death benefits to help pay for care now. This option can provide flexibility if other resources are limited. 

With the mix of resources that works for you, assisted living isn’t only possible but also sustainable as an investment in your comfort, safety, and quality of life.

Finding the True Value in Assisted Living

When you look beyond the monthly price tag, assisted living is so much more than rent or housing. It’s a supportive package that blends safety, community, convenience, and care. With meals customized to meet your nutritional needs, engaging social opportunities, 24/7 peace of mind, and more, the value extends far beyond what most people can create when they choose to age in place at home. 

Discover more about what assisted living could look like for you by exploring our senior living pricing resources to learn more about what’s included and find tools to plan with confidence.

This post was originally published in May 2021 and updated in October 2025.