As the nation’s population of older adults begins to scrutinize their senior living options, Seniorly analyzed rates from its more than 60,000 senior living community network to create a list of the most and least expensive options for assisted living.
The company analyzed the average monthly rent in assisted living communities across 782 US cities to rank the most to least expensive for 2024. The senior living search website used real-time move-in data from across the company’s network of communities to calculate estimated pricing using ZIP codes, community size and cost of living. What the company found was a wide range of rates: from $1,126 to $9,711.
Coming in as the most expensive city for assisted living was Princeton, NJ, where monthly rent averaged $9,711, more than double the median monthly nationwide rate of $4,567. The Garden State also had two other cities in the top 10: No. 7 Bridgewater ($7,543) and No. 9 Voorhees ($7,476), and another two cities in the top 25: No. 11 Sewell ($7,217) and No. 21 Toms River ($6,759).
Rounding out the top five most expensive cities were No. 2 Peterborough, NH ($8,811 per month), No. 3 Bedford, NH ($7,992), No. 4 Tacoma, WA ($7,963) and Nov. 5 Nashua, NH ($7,848).
At the other end of the spectrum, Lake Mary, FL, in the Orlando, FL, metro area, was the most affordable city, with monthly rents averaging $1,126 — almost nine times lower than Princeton, NJ. Three additional Florida cities landed in the top 50 cheapest towns: No. 5 Brandon ($2,076), No. 38 Palm Harbor ($3, 191) and No. 49 Aventura ($3,251).
Rounding out the top five most affordable cities for assisted living were No. 2 Lebanon, TN ($1, 139), No. 3 Catonsville, MD ($1,943), No. 4 Chattanooga, TN ($1,950) and No. 5 Brandon, FL ($2,076). Assisted living monthly rents in those communities fell between one-fourth and one-half of the national median.
California had the highest number of expensive cities — 28 of the 200 — followed by Minnesota, with 20, and Virginia and Washington with 17 cities each. Many of the most expensive cities were concentrated on the coasts, particularly in the Northeast. Georgia had the highest number of affordable cities with 37, followed by Florida with 29 cities and California with 17 cities. The most affordable cities mostly were found in the Southeast and Midwest.
But 16 states had cities on both lists, serving as the location of some of the nation’s most expensive cities for assisted living cities but also some of the most affordable locations. And 17 states didn’t even make a list.
The report follows NIC MAP Vision’s release of its latest Senior Housing Outlook report, which showed a shortage of senior living development against the backdrop of “unprecedented” demand growth. According to NIC MAP Vision data, the current senior living development pace shows a 550,000-unit shortfall by 2030. The report underscored the need for a historic increase in new senior living units to keep pace with growing demand.
