A new study found Arizona is the No. 22 most expensive state for assisted living facilities in 2024 with an average monthly cost of $4,230, up from $3,529 in 2021. The national average monthly cost is $4,401.
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The rising cost of senior living can be attributed to occupancy rates rebounding towards pre-pandemic levels and rising labor costs. Meanwhile, inflation has reduced seniors’ spending power – especially those on fixed incomes — making it critical to find an affordable facility.
Seniorly today released a study on the Most Expensive States for Assisted Living based on move-in data across the company’s network of 60,000 senior communities from 2023 and the company’s proprietary Pricing Estimator algorithm.
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 16.6 years based on the state’s median income of $74,568, the average savings rate of 4.1%, and the average cost of assisted living.
As an alternative to senior living, home health aides in Arizona cost an average of $5,765 per month.
Five Most Expensive Places
1) New Hampshire: $8,248 per month
2) District of Columbia: $6,835
3) Delaware: $6,101
4) Hawaii: $5,924
5) Wyoming: $5,894
Five Most Affordable States
1) Louisiana: $2,946 per month
2) Georgia: $3,318
3) South Dakota: $3,378
4) Iowa: $3,420
5) Minnesota: $3,472
