Overall, the cost of care among facility-based providers has increased over the last five years, according to the Genworth 2013 Cost of Care Survey.
Nationally, the average price for assisted living care was $41,400, according to Genworth’s findings, while the average cost for nursing home care was $83,950.
However, assisted living showed the largest rate increase since 2012, rising 4.55%, with an average monthly rent of $3,450 per private unit.
While costs increased nationwide, the East Coast had the most expensive costs for assisted living and nursing home care.
The most expensive Assisted Living annual costs per year:
- Alaska — $72,000
- New Jersey — $71,928
- Delaware — $66,396
- Connecticut — $60,000
- Massachusetts — $59,400
Missouri ($27,450), Alabama ($31,200) and Georgia ($32,430) were among the cheapest states to provide assisted living care, respectively.
Most expensive nursing home annual costs on average:
- Alaska — $255,891
- Connecticut — $151,658
- Hawaii — $145,270
- Massachusetts — $$133,225
- New York — $127,732
Once again, Missouri found itself in the category for the least expensive states, with an average annual cost of $58,035—right between Oklahoma ($55,360) and Louisiana ($58,345).
A majority of the southern states had average annual costs that were well-below national averages for both assisted living and nursing home care.
View the Genworth 2013 Cost of Care Survey.
Written by Jason Oliva