How Much Does Senior Independent Living Cost

Learning more about independent senior living costs can help you form a realistic budget for retirement. Learn what to consider from our helpful senior living experts:

ArborCompany.com/cost-calculator

ArborCompany.com/il-guide

ArborCompany.com/va-benefit-for-il

Before you can start researching an independent living community near you, it’s wise to begin forming a realistic expectation of costs so you can budget appropriately.

The cost of senior living varies based on factors ranging from location to amenities.

In general, independent living can cost an average of $1,800 per month to more than $5,000 according to SeniorHomes.com.

The Cost of Independent Senior Living: Value vs. Price
Most people considering independent living are concerned about finances, and many seniors worry that they can’t afford long-term care.

This concern makes it easy to look only at the price tag without considering what you’ll get — or what you’ll save.

Here’s what you can expect from the community lifestyle in most independent living communities:

An Engaged and Active Lifestyle
A Chance to Grow and Learn New Things
An Amenity-Rich, Worry-Free Life
Worry-Free Finances
Quality Food
Peace of Mind

Calculating Independent Senior Living Costs: Could You Save Money?
To calculate the true costs of a senior living community, begin by considering your current cost of living.

Grab a piece of paper and jot down your monthly and recurring expenses, including:
Utility bills
Groceries or a meal prep service
Home maintenance
Transportation
Entertainment
In-home care

If your costs exceed an independent living community’s all-inclusive bill, moving could mean you get more by spending less.

How to Find an Independent Living Community You Can Afford
Asking the right questions can help you ensure the independent living community you’re considering is affordable.

Here are some questions to get you started:

What is included in the base price?
How much are additional amenities?
Are there other fees?
How are payments structured?
What if I need assisted living?
What is the price difference?

Offsetting Costs of Senior Living Communities
For some older adults, selling a home can provide the income they need to invest in independent living. Others might be able to use long-term care insurance benefits. Finally, if you or a spouse are eligible, you might be able to offset costs using VA Aid & Attendance benefits.

Explore our helpful resources from our senior living experts:

ArborCompany.com/cost-calculator
ArborCompany.com/il-guide
ArborCompany.com/va-benefit-for-il