Senior living includes way more than housing, which can make it seem more expensive at first blush. For example, it often includes housing, utilities, real estate taxes, dining/food, social events, transportation, maintenance, housekeeping services, laundry services, and care. These goods and services are bundled into a single monthly payment (most communities break-out care and some additional costs). The bundled payment is similar to staying at an all-inclusive resort in the Caribbean where the meals, drinks, and resort amenities come with the nightly room rental. Since many services are included in the monthly rent, it is very important that you make a well-informed decision on where you choose to live.
Unfortunately, several economic factors are increasing the cost of senior living. Construction of new facilities has not kept up with the tremendous population growth for seniors. In addition, labor costs, which can exceed 50% of the costs to operate a community, can be high in certain areas. These factors are driving costs higher.