CLEVELAND — Editor's Note: The above video is from a previously published, unrelated story
Occupancy in senior communities is expected to rebound in 2022 as the nation's elderly and health care workers continue to get vaccinated.
A record 54 million Americans are now age 65 and older. With the holidays coming up, many families might start to think about whether their beloved seniors should consider moving into an assisted living community. With that in mind, Seniorly.com has released a study looking at the most expensive states for assisted living.
Ohio ranks No. 14 in the nation for the average cost of assisted living by state, with an average monthly price of $4,432. Consider this the “monthly rent” that you would need to pay for lodging, plus the additional level of care provided by these kinds of communities.
The most expensive state in average cost of assisted living is New Jersey at $5,893 per month, followed by:
- New Hampshire: $5,644
- Alaska: $5,514
- Massachusetts: $5,421
- District of Columbia: $5,369
However, Seniorly.com also looked at how many years a person needs to save to afford one year of assisted living. The typical Ohio worker would need to save for 12.5 years to afford just one year of assisted living, putting the Buckeye State at No. 4 in the metric of least-affordable states for assisted living behind New Mexico, Maine, and Mississippi.
The study used US Census Bureau data to calculate how long the typical American earning the median annual household income in each state needs to work in order to afford this kind of housing, assuming they save 7.5% of the salary along the way (the national average in September 2021).
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