There's a 'Perfect Storm' (of Good News) for Senior Living Costs in 2019. Here's Why

A Place for Mom, a national senior living referral service, has released a new study explaining that families looking to relocate to a senior care community can save money and find greater value compared to two years ago, reports USA Today . Rates for all kinds of communities have held steady compared to general inflation and real estate value. The construction of new communities also led to lower occupancy rates and stable pricing for operators, according to A Place for Mom's Sue Johansen. She notes communities are striving to draw residents with better deals and options as competition intensifies. "It's still a very good real estate market for most of the country, and many seniors who move into senior living are liquidating real estate to do that," Johansen says. "So you're selling at a high time, but getting in at a time when rates are pretty stable and promotional activity is aggressive. All of those factors combine to create the perfect storm in terms of timing for families to make that decision." Nationwide rates for independent living increased 2.6 percent from 2017 to 2018, bringing the monthly average cost to $2,552 last year. Assisted living expanded 2.4 percent during that time span, averaging a monthly rate of $3,942.