US Seniors Weigh Aging-in-Place Costs as Home Care Tops $206,000 a Year
Updated
Updated · The Guardian · Jun 24
US Seniors Weigh Aging-in-Place Costs as Home Care Tops $206,000 a Year
3 articles · Updated · The Guardian · Jun 24
Summary
93% of Americans 65 and older say they live in their own home or apartment and want to remain there, but experts say that choice depends on health, support networks and whether the home can be made safe.
69% of people 65 and older are likely to need some form of care, and that need can quickly strain budgets: non-medical home help averages $35 an hour, or about $80,000 a year, while skilled nursing runs about $90 an hour, or nearly $206,000.
Home changes range from grab bars and better lighting to wider doorways, walk-in showers and stair lifts, with age-in-place upgrades typically costing $3,000 to $15,000 and major kitchen, bathroom or stair projects far more.
Alternative paths include downsizing, accessory dwelling units averaging $180,000, community support models, shared housing and continuing care retirement communities, where buy-ins can reach $402,000.
Experts urge families to plan early—alongside healthcare proxies, powers of attorney and financial directives—so housing decisions are made before a health crisis forces a rushed move.