November 19, 2021

AZ Business Magazine

Arizona No. 15 most affordable state for assisted living

With occupancy in senior communities expected to rebound in 2022, a new study found Arizona is the No. 15 most affordable state for assisted living facilities with an average monthly cost of $3,529. 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.

READ ALSO2 Valley cities among Top 10 for most financially secure seniors today released a study on the Most Expensive States for Assisted Living based on move-in data across the company’s network of 40,000 senior communities in 2021.

The study also looked at how many years a person needs to save to afford one year of assisted living. Arizona residents will need to save for 9.6 years based on the state’s median income of $58,945, the average savings rate of 7.5%and the average cost of assisted living.

Five Most Expensive Places

1. New Jersey: $5,893 per month

2. New Hampshire: $5,644

3. Alaska: $5,514

4. Massachusetts: $5,421

5. District of Columbia: $5,369

Five Most Affordable States

1. Georgia: $3,045 per month

2. North Dakota: $3,069

3. Missouri: $3,084

4. Nevada: $3,123

5. South Dakota: $3,138