Q2-2024 Market Survey Care Services

In Quarter-2 of 2024, BILD conducted over 100+ 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 Areas (percent of shops) – East Central (32%), West Central (1%), Pacific (28%), South Atlantic (34%), Mountain (1%), New England (3%)
Target States: AL, CA, FL, IL, IN, KY, MA, MD, MI, MO, NV, OH, TN, VA
Time Periods Data Analyzed: 4/1/2024 – 6/30/2024

Below is a summary of the key findings:

• • 34% of locations offered care through a point system.
  • Assisted Living offered care services at the average cost of $1,542 per month. Memory care costs averaged $2,315 per month.
  • 51% of Memory Care locations were all inclusive. 18% of all locations included some care in base rent but had additional charges after a certain amount of care was exceeded. 31% of locations did not include care costs.
  • Assisted Living averaged $130 per day for care costs, while Memory Care averaged $227 per day for care costs.

**Excludes other ancillary charges/rent

Is any care included with Independent Living?

• • • 27% of communities surveyed in Q2-2024 did not have independent living. 62% of communities with Independent Living, did not include any care in the base rent.
    • 38% 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?

• • • • 51% of Memory Care locations were all inclusive. 18% of locations included some care in the base rent but had additional charges after a certain amount of care was exceeded. 31% of locations did not include care costs.
        • Memory Care levels of care, on average, costs $227 per day with some locations going as high as $315 per day. The average base rent was around $7,173 per month.
        • When not included in care, incontinence, medication management, and other ancillary charges, had a combined average of $58 per day.
          • Incontinence averaged $10-$20 per day, depending on supplies needed.
          • Medication Management, on average, $16-$30 per day.
      • Point systems are commonly used for assessments. Below is an example of the average point systems that some locations offered.
        • Level 1: 1-11 points – $600 – $900
        • Level 2: 12-26 points – $1,000 – $1,350
        • Level 3: 27-45 points – $1,400 – $1850
        • Level 4: 46-73 points – $1,900 – $2,400
        • Level 5: 74+ points – $2,500+

On average we saw $88 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.