How much will it cost to age in place?

An important part of planning is considering costs for the help you need. It's possible that paying for a few services out of pocket could cost less than moving into an independent living, assisted living, or long-term care facility. 

Remember to weigh the cost of alternative care versus the cost of making your home environment more accessible through modifications. 

• In 2020, the median yearly cost of nursing home care was $93,075 for a semi-private room and $105,850 for a private room.
• The median nursing home monthly cost was $7,756 for a semi-private room and $8,821 for a private room.
• In 2021, the national median cost of assisted living facilities was $4,500 per month or $54,000 annually.
• Median hourly rates for home health aide services across the country range from $20/hour to $35/hour, depending on the state. (Genworth Financial)