When it comes to the cost of assisted living, where you live matters. That’s because the cost of a one-bedroom unit in an assisted living facility varies enormously by state, a new analysis from Lincoln Financial Group (NYSE: LNC) reveals.
The most expensive states for a one-bedroom unit in an assisted living community, as measured by their average cost per month, are New Jersey and Massachusetts, with one bedrooms costing $6,324 per month and $5,926 per month, respectively. In Alaska and Connecticut, one bedrooms cost an average of $5,906 per month and $5,869 per month; in New Hampshire, they cost an average of $5,729 per month.
The least expensive states for a one-bedroom in an assisted living community, meanwhile, are North Dakota and Mississippi, where their cost averages $3,159 per month and $3,208 per month, respectively. In Louisiana, Arkansas, and Alabama, the averages are $3,420 per month, $3,474 per month, and $3,476 per month, in that order.
Nationally, the average cost of a one-bedroom unit in assisted living is $4,383 per month, the analysis shows. The average cost of a two-bedroom assisted living unit is $4,672 per month; and the average cost of a studio unit is $3,878 per month.
For skilled nursing care, the average cost of one room is $273 per day, the analysis shows. The most expensive state for a private skilled nursing room is Connecticut, with an average cost of $460 per day; the least expensive state for a private skilled nursing room is Missouri, where the average cost is $186 per day.
Lincoln Financial Group, the Radnor, Pennsylvania-based arm of Lincoln National Corporation, compiled this and other long-term care data on a new website, whatcarecosts.com. The website is meant to serve as a searchable database of long-term-care cost information for states and metropolitan areas across the country, Lincoln Financial Group says. The data can be filtered by geography and type of care.
Written by Mary Kate Nelson