The Cost of Senior Living: It's More Than Just Rent

While many people may think of senior living as just a place to live, there are additional costs that come along with a senior residence. Depending on a person’s activity level, health and daily assistance needs, this basic monthly service rate can cost can range from $1,000 to $10,000. That may not include monthly care fees, one-time fees, second person fees or resident medication costs. Depending on your state, the annual cost can vary from around $30,000 to well over $80,000. See how these costs are broken up and how you can prepare the best senior living plan for yourself or your loved one.

Independent Living For active seniors who need little to no daily assistance or care, living costs tend to be lower. But given the sheer amount of amenities, vacation-style accommodations, and housing upgrades offered, these costs can still add up.

Assisted Living For seniors who need the safety and support of daily assistance, the cost really comes down to the level of care. From getting dressed to help managing medication, there are lots of factors to consider.