Q3-2024 Senior Living Market Survey Analysis: Senior Living Care Services

In Quarter-3 of 2024, BILD conducted over 280+ 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 (27%), West Central (23%), Pacific (20%), Atlantic (17%), Mountain (7%), New England (6%)

Target States: AL, CA, FL, IL, IN, KY, MA, MD, MI, MO, NV, OH, TN, VA

Time Periods Data Analyzed: 7/1/2024 – 9/30/2024

 Below is a summary of the key findings:

•  46% of locations offered care through a point system.

• Assisted Living offered care services at the average cost of $1,304 per month. Memory care costs averaged $2,547 per month.

• 38% of Memory Care locations were all inclusive. 42% of all locations included some care in base rent but had additional charges after a certain amount of care was exceeded. 20% of locations did not include care costs.

• Assisted Living averaged $48 per day for care costs, while Memory Care averaged $84 per day for care costs.

**Excludes other ancillary charges/rent

• 38% of Memory Care locations were all inclusive. 42% of locations included some care in the base rent but had additional charges after a certain amount of care was exceeded. 20% of locations did not include care costs.
  • Memory Care levels of care, on average, costs $84 per day with some locations going as high as $223 per day. The average base rent was around $7,145 per month.

• • When not included in care, incontinence, medication management, and other ancillary charges, had a combined average of $64 per day.
    • Incontinence averaged $10-$25 per day, depending on supplies needed.
    • Medication Management, on average, $12-$28 per day.

• Point systems are commonly used for assessments. Below is an example of the average point systems that some locations offered.
  • Level 1: 1-40 points – $1,000 – $1,364

• • Level 2: 41-75 points – $1,365- $1,706

• • Level 3: 76-115 points – $1,707 – $2,044

• • Level 4: 116-155 points – $2,045 – $2,384

• • Level 5: 156+ points – $2,384 – $2,700

• On average we saw $35 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