New Study: Washington No. 8 Most Expensive State for Assisted Living as Seniors Set to Return in 2022
Explore these rankings of most to least expensive states for assisted living as Seniorly data is compared with median incomes and average savings to determine affordability.
With occupancy in senior communities expected to rebound in 2022, a new study found Washington is the No. 8 most expensive place for assisted living facilities with an average monthly cost of $4,995. The national average is $4,057.
Families often gather around the holidays and make tough decisions about senior living.
The pandemic led to record low occupancy in senior facilities, but as vaccines and antivirals prove effective, many are likely to return to assisted living but finances are an important factor.
The study also looked at how many years a person needs to save to afford one year of assisted living. Washington residents will need to save for 10.8 years based on the place’s median income of $73,775, the average savings rate of 7.5%, and the average cost of assisted living.
Five Most Expensive Places
- New Jersey: $5,893 per month
- New Hampshire: $5,644
- Alaska: $5,514
- Massachusetts: $5,421
- District of Columbia: $5,369
Five Most Affordable States
- Georgia: $3,045 per month
- North Dakota: $3,069
- Missouri: $3,084
- Nevada: $3,123
- South Dakota: $3,138