A Guide to Nursing Home Costs

A Guide To Nursing Home Costs

The expense of any potential medical care and other assistance worries many older people and their caretakers. Even for families who believed they had enough savings, these costs can consume a sizable portion of their income.

If nursing homes are something you’re thinking about, these expenses may be greater and out of reach for many. Therefore, it’s good to understand the expected costs for room, board, and basic care and those for any additional services that could be required before starting a conversation about a future nursing home stay.

To help you with your financial planning for your nursing home stay, we’ve prepared a concise guide to its costs.

How much does a nursing home cost?

Genworth determined the national median cost of nursing homes in the United States as part of their yearly study; a median price is one where half the expenses are higher, and half the costs are lower. 

The typical annual cost of nursing home care in 2020 was;

Payment TermSemi-Private RoomsPrivate Rooms

Since 2019, the cost of a semi-private room at a nursing home has grown by 3% annually. Additionally, the cost of a private room increased by 3%. The expense of nursing homes is anticipated to climb as 10,000 baby boomers reach 65 each day through 2030. Although nursing home fees can be expensive, seniors can utilize their VA benefits, Medicare and Medicaid, bridge loans, and long-term care insurance to help cover the monthly costs.

Common Nursing Home Care Costs Inclusions

The price of nursing home care is almost two times that of assisted living. Residents at nursing homes often have a variety of ongoing medical conditions and need assistance with several everyday tasks, including bathing and using the restroom. The main factor contributing to their high costs is that nursing homes need many nurses and staff members to care for the residents.

Residents at nursing homes receive care and medical supervision from qualified medical personnel around the clock. Skilled nursing services offered by nursing homes include dialysis, catheter care, wound care, and injections. These are only sometimes provided in communities for independent or assisted living.

Medication management, meals, housekeeping, and aid with daily living tasks are additional services (ADLs). A recent government assessment of nursing homes found that more than half of the residents required assistance with five ADLs, including eating, dressing, bathing, and using the toilet. Typically, assisted living residents require less support with ADLs than residents of nursing homes.

National Median Costs of Nursing Home Care

The long-term expense of nursing home care will vary depending on several variables, including your location, the provider you choose, the length of your stay, and whether you require any specialized treatments. Some facilities have all-inclusive pricing, while others may charge extra for services like memory care, speech therapy, and physical therapy.

Payment TermSemi-Private RoomsPrivate Rooms

Nursing Home Care Costs By State

In addition to costs varying by room type, nursing home care is significantly less expensive in various areas. Here’s a look at the median monthly costs for nursing home care in semi-private and private rooms around the country, according to Seniorliving.org

District of Columbia$10,494$10,494
New Hampshire$10,950$12,015
New Jersey$11,254$12,151
New Mexico$7,604$8,365
New York$12,775$13,233
North Carolina$7,483$8,213
North Dakota$11,978$12,587
Rhode Island$9,429$10,038
South Carolina$7,285$7,984
South Dakota$7,118$7,604
West Virginia$11,619$12,212

States with the Highest and Lowest Nursing Home Costs

For further comparison, here’s a list of the top 10 states with the highest and lowest nursing home costs.

Alaska – $27,573Oklahoma – $4,639
Connecticut – $12,623Texas – $4,798
Hawaii – $12,167Missouri – $5,019
Massachusetts – $12,015Louisiana – $ 5,232
New York – $11,756Arkansas – $5,353
North Dakota – $11,027Kansas – $5,414
New Jersey – $10,646Illinois – $5,916
Delaware – $10,494Iowa – $6,983
New Hampshire – $10,342Utah – $6,003
West Virginia – $10,281Alabama – $6,279

Nursing Home Costs Vs. Other Types Of Senior Housing Costs

Here’s a comparison between nursing home costs, the two most considered care providers, and the senior living options- assisted living and in-home care. 

Cost of Nursing Homes vs. Assisted Living

Assisted living has increased as assisted living facilities are far less expensive than nursing homes. A typical assisted living facility will set you back $148 per day, $4,500 per month, or $54,000 per year. Although there has been an uptick in recent years, assisted living is still much less expensive than semi-private or private rooms in nursing facilities. The fact that these estimates don’t consider specialist care, such as memory care, or disability concerns, should be noted.

Cost of Nursing Homes vs. In-Home Care

Homemaking service providers is one option for in-home caregivers. They can assist senior citizens with activities of daily living and household chores, including cleaning, cooking, and running errands. Another choice is to hire qualified home care providers to offer more comprehensive care and act as companions. Some people and their families may opt for competent in-home nursing care, often offered by a registered nurse or licensed therapist who can give them medication and keep a close eye on their vital signs.

However, the cost will increase with the level of medical treatment needed. For instance, the average cost of homemaker services is $163 per day, the average cost of a home health aide is $169 per day, and the average pay for a registered nurse working a 10-hour shift is $387. Nevertheless, these services are typically not required 24 hours a day or daily.


The highest standard of care is offered outside hospitals in nursing homes. As a result, nursing care has the most expensive price tag of all senior care options. The average cost varies significantly based on the state and other elements, like the inhabitants’ demands and location, that are typically out of the family’s control. The median prices are often lowest in the Midwest and the South.

However, just because nursing homes offer the best level of care does not imply that they are the best choice for everyone. They work best for those who need round-the-clock care for serious, chronic diseases.

Hence, it is best to explore care options and find the best fit for you or your loved ones in terms of costs and their needs.