6 senior housing options and how to find retirement happiness



Seniors’ residence options and types of retirement communities

Each senior housing option offers a different level of care and assistance, but all aim to create a sense of community within facilities. Below is a comprehensive list with information on the types of options available. Use this guide to help you make an informed decision about your retirement home options.

1. Communities of independent living

Independent living is an option for seniors who do not need daily help but are ready to move into a senior living community.

Independent living communities generally do not provide emergency medical care or personal care assistance. They can provide housekeeping services, fitness classes, activities and catering facilities on site.

  • How to pay: Long Term Care Insurance, Medicaid, and Veterans Benefits
  • Average cost of living: $ 12,000 – $ 42,000 a year3
  • Middle age: 65+
  • Level of independence: Very independent

2. Continuing Care Retirement Community

This is a great option for those who wish to stay in the same community as their need for help progresses. Services will depend on the amount of care required. These communities typically have buildings that provide different levels of care, making the transition easier for those moving from independent to supported living.

  • How to pay: Medicaid, Medicare or personal funds
  • Average cost of living: Ranges from $ 2,000 to $ 6,000 per month4
  • Middle age: 60+
  • Level of independence: Range from very independent to requiring medical and personal care

3. Nursing homes

Nursing homes or skilled nursing facilities are for those who need round-the-clock care from skilled healthcare professionals. Nursing homes are focused on maintaining the health of residents rather than supporting an active lifestyle.

  • How to pay: Medicare, Medicaid or personal funds
  • Average cost of living: $ 7,756 per month3
  • Middle age: 85+
  • Level of independence: Requires medical and personal care

4. Service residences

An assisted living facility is a good option for older people who need daily assistance but do not need medical attention. On-site emergency medical assistance is available and daily assistance with personal care tasks, such as bathing and dressing.

Assisted living facilities often offer amenities to residents such as common areas, fitness centers and an artistic space.

  • How to pay: Medicaid, home and community service waivers or personal funds
  • Average cost of living: $ 4,300 per month3
  • Middle age: 75+
  • Level of independence: Requires personal care

5. Home care for the elderly

Home care for the elderly can include a range of services, depending on the help you need. These services can be personalized for your specific needs, but do not include serious medical care.

  • How to pay: Medicare, veterans benefits program, state non-Medicaid program, or personal funds
  • Average cost of living: $ 2,037 per month3
  • Middle age: 75+
  • Level of independence: Requires personal care

6. Community aged 55 and over

Communities aged 55 and over are intended for those who value an active lifestyle. These areas, also known as active adult communities, are designed for this age group and offer attractive amenities for this age group, including restaurants, shopping, and leisure activities.

  • How to pay: Personal funds, social security pensions or additional security income
  • Average cost of living: Ranges from $ 1,500 to $ 4,000 per month3
  • Middle age: 55+
  • Level of independence: Very independent



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