Assisted living cost factors

What is the Cost of Assisted Living?

Are you considering assisted living for yourself, a family member, or a loved one, but you’re worried about the cost? Are you wondering about the cost of assisted living in Minnesota, specifically? In this article, we will break down the average cost of assisted living and the factors that affect that price point. We will also discuss the all-inclusive pricing model, the benefits of long-term care insurance, and the cost of a memory care facility.

For more about pricing at The Moments Memory Care in Lakeville, contact us today!

What is Assisted Living and How Much Do Assisted Living Facilities Cost?

First of all, what is assisted living? An assisted living residence or community is a housing facility for older adults who require some level of personal care. Assisted living communities help seniors with the activities of daily living (ADLs.) They also typically offer other activities for seniors, which promote a healthy lifestyle and social engagement, which many seniors might not receive if they are living at home on their own. 

The most common assisted living services offered include medication management and assistance with the six ADLs: eating, bathing, dressing, toileting, mobility, and continence. Other services offered at assisted living centers include housekeeping, meals, laundry, transportation services, and social programs. However, the services and features of every assisted living center vary – and ultimately affect the cost of each. 

Now, let’s get to the cost of assisted living facilities. Unfortunately, there is no easy way to determine what the costs of assisted living will be for an individual or family. It depends on the individual needs of the resident. On average, assisted living costs a little more than $4,000 a month, according to a 2018 survey by Genworth. However, the actual cost of assisted living that you might pay depends on several factors. 

What Factors Affect the Average Cost of Assisted Living?


Similarly to how location affects the real estate market, location also affects the average cost for assisted living. According to Genworth, the five most expensive states for assisted living are Delaware, Alaska, New Jersey, Massachusetts, and Rhode Island. The five least expensive states for assisted living are Missouri, Georgia, South Carolina, Arkansas, and North Dakota. Assisted living centers in the Midwest and Southeast tend to be less expensive than in other parts of the country. The average cost of assisted living can vary based on cities as well.

Level of Care 

How much care does your loved one require? The answer will affect the price of what kind of facility you might need. 

For example, an independent living community for older adults who require little to no daily assistance and are simply seeking a maintenance-free lifestyle with social opportunities is the least expensive. That option generally costs between $1,400 and $4,000 a month. 

An assisted living center, which is a residential arrangement that provides personal care and health services, is more expensive, generally in the range of about $9,000 a month. Nursing homes offer a higher level of supervision and care and can cost up to $10,000 or $12,000 per month. Memory care centers, which support residents who suffer from Alzheimer’s and dementia, range from about $7,000 to $11,000 monthly.


What kind of amenities are you looking for in an assisted living center? Would you like access to a pool? Is having a balcony important to you? Or your own private suite? Some of these factors will likely affect the cost. 

The most common amenities that affect the average cost of assisted living are the type of residence you choose, a second-resident fee that might apply if a spouse moves in with you, pet fees, concierge fees, or transportation fees. However, if you choose an assisted living center that offers an all-inclusive pricing model, you won’t have to pay extra for these features. 

What is the All-Inclusive Pricing Model?

It can be confusing to understand the cost of assisted living centers, so let’s break them down. There are a couple of different pricing plans that will impact your overall cost for assisted living

The all-inclusive pricing model includes most of the everyday services provided at the assisted living center. All-inclusive pricing means that the center charges a flat fee each month. You will receive one monthly bill that includes rent, utilities, meals, and services. All-inclusive pricing models make understanding the cost of assisted living more simple.

One advantage of the all-inclusive pricing model is that the cost won’t dramatically increase unexpectedly if the needs of you or your loved one change. For example, if your loved one experiences a health crisis, the monthly rate won’t jump a significant amount. For many, this makes the all-inclusive model more preferable because the cost from month-to-month is predictable and can be factored into a family’s budget. 

The other pricing option offered is the a la cart model. This means the assisted living community charges rent PLUS individual services that the resident requires. While this may sound attractive, the small fees add up quickly. For example, some locations may charge $50.00 to assist a resident if they soil themselves and need attention. This structure also makes it challenging to predict on a monthly family budget.

How Long-Term Care Insurance Impacts the Average Cost of Assisted Living

According to the AARP, by the time you reach the age of 65, there is a 50 percent chance that you will require long-term paid care someday. If you are worried about the costs of assisted living for yourself or a loved one in the future, long-term care insurance might be the answer. Regular health insurance, unfortunately, doesn’t cover long-term care. 

What is Long-Term Care Insurance?

Long-term care insurance covers many of the costs of a nursing home, assisted living facility, or even in-home care. These are expenses that are not covered by Medicare. If you do not have long-term care insurance, you will have to eventually pay for it yourself, or the responsibility will fall to one of your loved ones. However, if you plan ahead by purchasing long-term care insurance, you will make it less stressful for everyone once you need it. 

What Are the Benefits of Long-Term Care Insurance?

It’s amazing how planning for the future can reduce your average cost of assisted living down the road. There are two main benefits to purchasing long-term care insurance: 1. it protects your savings since long-term care costs can empty your retirement nest egg quickly. And 2. long-term care insurance increases your options for care. 

If you have more money to spend, you increase the options available to you. If you rely solely on Medicaid, you will only be able to choose from nursing homes that accept government payment. Medicaid does not pay for assisted living in many states. 

What is the Cost of Long-Term Care Insurance?

The rate you will pay for long-term care insurance depends on a variety of factors:

  • Your Age and Health: The older you are, and the more health problems you have, the more you will pay for your long-term care insurance policy. 
  • Gender: Women generally pay more than men do, because they live longer and have a better chance of making a claim. 
  • Marital Status: Premiums are lower for married people than they are for single people. 
  • Insurance Company: The price of a long-term care insurance policy will vary from insurance company to insurance company, which is why it’s important to compare rates before you buy. 
  • Amount of Coverage: You will have to pay more for richer coverage. 

What is the Cost of a Memory Care Facility?

What is Memory Care? 

It is difficult to care for someone who suffers from Alzheimer’s disease or dementia at home. Memory care is a form of assisted living that provides specialized care for people suffering memory loss. Many assisted living facilities and nursing homes have created special memory care units for these patients. However, there are also stand-alone memory care facilities that specialize in just this kind of care. 

The Moments is a first-of-its-kind memory care and support environment.

Our community provides five-star hospitality standards typically seen in a boutique hotel, combined with high-acuity specialized care. 

Oftentimes, traditional memory care relies on pharmaceutical interventions. However, at The Moments, we go beyond just psychotropic medications and use sensory-driven methods to support the well-being of our residents in the long term. 

Not only does our approach to memory care benefit our residents and their loved ones, but it also de-stigmatizes the need for long-term specialized memory care environments. We know that it is very hard to take care of a loved one who is suffering from Alzheimer’s disease or another form of dementia at home. It is also very difficult to make the decision to move your loved one into a memory care center. However, The Moments Memory Care can show you that our specialized approach is a valuable alternative to caring for a loved one all on your own.

How Much Does Memory Care Cost? 

It might not surprise you to learn that the higher level of care and supervision required in a memory care center also comes with a higher price than assisted living. Memory care can add an additional price tag between $1,000 and $4,000 on top of the care of an assisted living center, in some instances. However, just like with assisted living centers, the price of a memory care center varies widely. It can depend on the location of the center and the amenities and level of care offered for residents. The cost of the care is far outweighed by the heightened quality of life that each resident experiences. 

The Average Cost of Assisted Living at The Moments Memory Care

As you can see, the average cost of assisted living is dependent on several factors. At the Moments Memory Care, we do not want you or your family to be burdened with additional charges that may not have been anticipated. As we strive to be the best memory care community in the Twin Cities area, we offer flexible pricing models based on the individual needs of each resident. 


Reach out to us today to learn more or to find out about our available suites. 


Our resident specialist will give you a private tour of The Moments Memory Care Community and answer any questions you may have.

Safety Protocols

Our HVAC system was uniquely designed to deliver six complete air changes per hour which means clean air, safer air, throughout the building. Our resident rooms have individual fresh air and filtration above the windows, both designed to increase safety and sanitation levels.

Our normal protocol includes rigorous daily disinfecting of resident rooms and common areas. During every shift, staff disinfects doors, handrails and other common areas.

Meals have shifted from community gatherings to small group, socially distanced meals that are served in shifts, tables and chairs are sanitized after each seating.

ALL residents and staff are tested bi-weekly, at a minimum and take temperature checks are conducted daily of all residents.

Anybody – staff, caregivers, residents, vendors – who enters The Moments will pass through the ENTRY where Far-UVC lighting will inactivate surface-level viruses and bacteria

Additionally, prior to each
shift staff:

  • Undergo a health
    screening, temperature
    check and contact risk
    evaluation surveys prior
    to entering the building
  • Are required to wear a
    facemask and goggles
    at all times
  • Constantly conducting
    thorough handwashing
    and hand sanitization
    during their shifts

Essential caregivers/visitors
are required to:


  • Undergo a health
    screening, temperature
    check and contact risk
    evaluation surveys prior
    to entering the building
  • Wear masks during
    their visit
Published On: January 5, 2021