Market Survey Analysis: Care Services and Amenities

In Quarter-1 of 2024, BILD conducted over 250+ individual Market Surveys on senior living communities across the nation. Below is the executive summary and the data trends that were uncovered regarding care services, amenities, and service pricing within those senior living communities shopped.

Target Regions: U.S Market Regions (percent of shops) – East Central (51%), West Central (27%), Pacific (12%), South Atlantic (7%), Middle Atlantic (2%), Mountain (1%)

Target States: AK, AR, AZ, CA, CO, FL, GA, IA, IL, IN, KS, KY, MA, MI, MN, MO, NC, NJ, NY, OH, PA, SC, TN, TX, UT, VA, WA

Time Periods Data Analyzed:1/1/2024 – 3/31/2024

Key Findings

Below is a summary of the key findings:

• 39% of locations offered care through a point system.
• Assisted Living offered care services at the average cost of $2,201 per month. Memory care costs averaged $3,534 per month.
• 41% of Memory Care locations were all inclusive. 23% of all locations included some care in base rent but had additional charges after a certain amount of care was exceeded. 36% of locations did not include care costs.
• Assisted Living averaged $632 per day for care costs, while Memory Care averaged $239 per day for care costs.

_{**Excludes other ancillary charges/rent}

Is any care included with Independent Living?

• 55% of communities surveyed in 2024 did not have independent living. 67% of communities with Independent Living, did not include any care in the base rent.
• 88% of locations did not include any care services in independent living but offered health services for an additional cost or a 3rd party company.

What are the average prices of care services (broken out by levels) in Assisted Living and
Memory Care for 2024?

• 41% of Memory Care locations were all inclusive. 23% of all locations included some care in base rent but had additional charges after a certain amount of care was exceeded. 36% of locations did not include care costs.
  • Memory Care levels of care, on average, costs $239 per day with some locations going as high as $325 per day. The average base rent was around $7,260 per month.
  • When not included in care, incontinence, medication management, and other ancillary charges, had a combined average of $62 per day.
    • Incontinence averaged $10-$20 per day, depending on supplies needed.
    • Medication Management, on average, $17-$40 per day.
• Point systems are commonly used for assessments. Below is an example of the average point systems that some locations offered.
  Level 1: 1-59 points – $450 – $1,100
  Level 2: 60-119 points – $1,200 – $1,550
  Level 3: 120-179 points – $1,600 – $2,200
  Level 4: 180-239 points – $2,300 – $2,700
  Level 5: 240 + points – $2,750 – $4,400+

  On average we saw $93 per point for a service needed.

  What’s most commonly included in each level for Assisted Living?

  

• Most communities had additional charges including ambulation assistance, Two-person assistance, memory support programs, cognitive support, incontinence, etc.

_{* Amenities/services listed in IL are also included in AL/MC}