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Home / Life Style / Is the Cost of Senior Living About to Drop?

Is the Cost of Senior Living About to Drop?

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Year after year the cost of assisted living accommodation for seniors has continued to increase. Based on a survey carried out nationally the average cost per month of a one bedroom unit ranges from three thousand two hundred dollars up to five thousand three hundred and fifty dollars.

This cost, as with every other market, is based on the demand for the supply available. If there’s an unexpected drop in the demand for senior’s assisted living accommodation the cost will, in turn, be reduced as the supply will be greater than the demand.

Will the Cost of Senior Living Fall in the New Year?

While the demand for assisted living accommodation over the last few years has been consistent there are a number of factors that may lead to lower costs as soon as the New Year.

The industry over the last decade has invested heavily into constructing new assisted housing units for seniors to take advantage of the high prices that they can charge.

As these newly constructed assisted housing units become available for occupation the industry may struggle to find occupants for them.

How Do You Find More Affordable Assisted Housing Units for Seniors?

Due to the significant investment initially required for new living units for seniors, and to ensure these new units are occupied the industry may have no other option than to lower the monthly rental rates by as much as fifty percent.

Reductions in the rental costs of assisted living are not something that happens on a frequent basis. This does not mean that more affordable rates are difficult to find. The industry, even when there’s a reduction in demand, will still attempt to maintain and continue with the high monthly rental rates for their accommodation for seniors.

One way to find more affordable rental rates for seniors assisted housing units is to check third party websites as this is commonly where the industry advertises reductions in their rates. Advertising on third-party websites helps the industry attract new customers that would not typically consider assisted living for seniors.

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