782 Most and Least Expensive Cities for Assisted Living in 2024

The total number of occupied senior housing units reached a record 603,000 units in the first quarter of 2024. This was 34,400 units higher than the pre-pandemic first quarter of 2020 level. 

While more older adults are living in senior housing than ever before, the housing supply is not keeping up with demand. The growth rate for new senior living units was just 1.3% in early 2024, the lowest level in a decade and down from 3.1% just before the pandemic, according to the National Investment Center for Seniors Housing & Care (NIC). 

That means fewer than 30,000 new senior housing units were under construction in key markets in early 2024, NIC found, despite the country needing another 807,000 units by 2030 to meet the needs of an aging America. 

And while the shortfall of available senior housing will undoubtedly drive the costs of assisted living further, other factors are also likely to exert upward pressure. The projected increase of dementia-related illness, the pace of wage inflation in senior care, and the increase in regulatory requirements in senior care are also likely to contribute to a disproportionate increase in cost. 

Despite the financial burden, living in an assisted living facility and being part of a community with people in a similar stage in life has countless benefits including 24-hour care, activities, social events, entertainment, and healthy food. 

In fact, researchers from NORC at the University of Chicago recently found that older adults who move into senior housing tend to live longer than their peers living at home; and according to the CDC, living alone is linked to a 50% higher risk of dementia, a 32% increased risk of stroke, and a 29% increased risk of heart disease.

Coupled with projected increase in adults aged 65+, the expected increase in cost is sure to have an impact on where older adults choose to live when it comes time for senior living.

Seniorly, the leading marketplace for senior living, analyzed the average monthly rent in assisted living facilities across 782 U.S. cities and towns in order to determine the most and least expensive cities for assisted living in 2024.

The assisted living cost averages and rankings were derived from Seniorly’s Pricing Estimator algorithm. Similar to a Zestimate, Seniorly used real-time 2024 move-in data from across the company’s network of 60,000 senior living communities, and calculated estimated pricing for all communities using zip code, community size and cost of living. 

  Here are the complete rankings for all 782 cities analyzed.

Here’s what we found:

• Princeton, New Jersey is the most expensive city. Rent is an average of $9,711 per month, but it’s not the only high-cost city in New Jersey. The Garden State is home to two more cities in the top 10 – No. 7 Bridgewater ($7,543) and No. 9 Voorhees ($7,476) – and another two in the top 25: No. 11 Sewell ($7,217) and No. 21 Toms River ($6,759).
• Lake Mary, Florida is the No. 1 most affordable city. Rent costs an average of $1,126 per month – nearly nine times lower than in Princeton. Three more Florida towns landed among the 50 cheapest cities – No. 5 Brandon ($2,076), No. 38 Palm Harbor ($3,191) and No. 49 Aventura ($3,251).
• California comes in as the state with the highest number of expensive cities; this state has 28 of the 200 most expensive cities, followed by Minnesota with 20 cities.
• Georgia is the state with the highest number of affordable cities; the Peach State has 37 of the most affordable cities, followed by Florida with 29 cities.
• Regional trends make a big difference. Many of the most expensive cities are concentrated on the coasts, particularly the Northeast, while the most affordable cities are reliably found in the Southeast and Midwest.
• There is diversity within the states. Interestingly, there are 16 states with cities on both lists, meaning they have some of the country’s most expensive cities for assisted living, but also some of the most affordable cities. For example, California has 28 of the highest cost cities – more than any other state – as well as 17 of the cheapest cities.

Explore the data

Discover whether your city lands among the 100 most expensive cities or the 100 most affordable cities for assisted living.

Most expensive cities

Princeton, New Jersey, is the most expensive city for assisted living, with seniors paying an average of $9,711 per month for rent – more than double the U.S. median of $4,567. Keep in mind that Princeton, NJ which is home to the Ivy League school, has a high cost of living relative to the state and country.

Rounding out the top five most expensive cities are Peterborough, NH ($8,811), Bedford, NH ($7,992), Tacoma, WA($7,963) and Nashua, NH ($7,848). In fact, six of the top 25 cities are in New Hampshire – check out how states overall rank on assisted living costs.
 

Most affordable cities

Lake Mary, FL, is the most affordable city for assisted living, with seniors paying an average of $1,126 per month for rent. Lake Mary, situated in the Orlando metro area, has a slightly lower cost of living than Florida and the U.S. overall.

Also included in the top five most affordable cities are Lebanon, TN ($1,139), Catonsville, MD ($1,943), Chattanooga, TN ($1,950), and Brandon, FL ($2,076). In these cities, assisted living costs are between a quarter and half of the national median.

States with the most high-cost cities

The country’s most expensive cities for senior living are located across the country, but that doesn’t mean they’re equally distributed. We analyzed the 200 most expensive cities to see which states are most represented. California, the largest state, takes the cake with 28 of the highest-cost cities, followed by Minnesota (20 cities) and Virginia and Washington (17 cities each). Most of the states are concentrated in the Northeast, while there are 17 states that don’t even make it on the list.

States with the most low-cost cities

When it comes to the country’s most affordable cities, on the other hand, Georgia lands on top, with 37 of the top 200 lowest cost cities on the list. It’s followed by Florida (29 cities) and California (17) – a state so diverse it has both some of the country’s most and least expensive cities for assisted living. Even so, 21 states don’t make an appearance among the 200 most affordable cities in the U.S.

Conclusion

Where people live as they grow old matters. While assisted living amenities and costs vary significantly across the U.S., the ultimate goal remains the same: to provide a comfortable, dignified and supportive environment for older adults as they continue to age. Balancing costs with quality of care is the key to making informed decisions about aging care options, and helps ensure that seniors can enjoy their golden years.

Methodology

The assisted living cost averages and rankings were derived from Seniorly’s Pricing Estimator algorithm. Similar to a Zestimate, Seniorly used real-time 2024 move-in data from across the company’s network of 60,000 senior living communities, and calculates estimated pricing for all communities using zip code, community size and cost of living. Washington, D.C., is excluded from the rankings.  Based on data analysis over the past year, Seniorly’s pricing estimator algorithm is more than 40% more accurate than any other national pricing estimator in the market.