The Affordability Problem in Senior Living

Plenty of things earlier generations considered luxuries are now run-of-the-mill expenses for middle-class Americans. Whether it’s a summer vacation or an occasional fancy dinner, these treats may not be cheap — but they are typically within reach. For many, though, the idea of moving into a senior living community, no matter how needed it may be, is a daunting financial challenge. 

The “Forgotten Middle”

According to a 2019 article published in the journal Health Affairs, there will be 14.4 million middle-income older adults by 2029, double the number recorded in 2014. The report goes on to estimate that, assuming an average cost of $62,000 per annum, 54% of those seniors will be priced out of the senior living market.

(Click link to enlarge)

The researchers call this group the “forgotten middle.” Those with the highest incomes can choose from a wealth of senior living options. At the other end of the spectrum, there’s a safety net provided by Medicaid and similar means-tested programs. 

However, if you land in the middle, the options are more challenging. For many of us, the idea of an “affordable” senior living community conjures images of something drab and functional — secure, but not necessarily inviting. Unless we shake up both the underlying reality and the stereotypes that it generates, there will always be a gulf between what middle-class Americans want and what our budget permits.

All-inclusive Senior Living Made Affordable

At Prime Independent Living, we’re already providing solutions for seniors who make a middle income. More middle-class Americans are living longer, healthier, more active lives, and that’s a good thing! So why not cater to the future today? We meet the inclusive housing challenge by building senior living communities that are fun, fulfilling, and budget-friendly. 

Our dedicated team takes care of all the housekeeping and maintenance, giving residents plenty of free time to enjoy our 18-hole putting green, pickleball court, or our packed calendar of activities. All-inclusive living means your monthly fee includes all utilities and Wi-Fi, plus three garden-fresh meals and all the coffee and soft-serve ice-cream you want from our on-site cafe. Discover how you can enjoy a budget-friendly retirement without sacrificing on quality when you contact us to find out more.

Share this Image On Your Site

Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll to top