Senior Living and Memory Care Facilities Improving, Says Survey
Here are the best for-profit senior living communities in 2024, according to a J.D. Power Survey.
When you’re young, the last thing on your mind is retiring, much less moving into a senior living community. But life goes on, and choosing where you or an aging family member will live soon becomes a priority. A new survey shows increasing satisfaction with senior and memory care communities — a welcome change after the pandemic uncovered lapses in care and a poorly staffed industry.
As a result of the greater attention to senior living communities, they are becoming increasingly popular among older adults. These communities may be geared toward retirees aged 55+ who live independently or those needing round-the-clock care. Many of the best memory care facilities offer several care levels depending on the memory loss stage. Assisted living communities help seniors who wish to live independently but need help with basic daily living activities. These communities vary in size, services, amenities, and, as mentioned, care levels.
As important as it is that your loved ones receive the very best care possible to live a happy and fulfilled life, cost also plays a part in choosing a facility. According to the Genworth Cost of Care survey, the national monthly median cost of assisted living in 2023 was $4,774, although costs vary significantly by city and state.
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2024 U.S. Senior Living Satisfaction Study
In the 2024 U.S. Senior Living Satisfaction Study released this past week by J.D. Power, overall satisfaction with assisted living and memory care communities is up 18 points, or 855 on a 1,000-point scale, from a year ago. The increase is largely fueled by improvements in satisfaction with the price paid for services received (+24 points); community staff (+19); and community buildings and grounds (+17). Satisfaction with independent living communities, however, is down three points.
Based on the results, most senior living community residents and their family members are largely satisfied with their related experiences, particularly those in the assisted living and memory care segment.
“Senior living communities have moved beyond the pandemic-related effects that saw widespread restrictions and staffing shortages, resulting in a major strain on resident and family member satisfaction,” said Andrea Stokes, hospitality and senior living practice lead at J.D. Power. “A positive trend is evident in the assisted living/memory care segment, where there are improvements in every satisfaction area, particularly the quality of care provided by staff.”
Overall satisfaction: assisted living and memory care
Overall satisfaction: independent living
Other key findings from the 2024 study
- Effective problem resolution: Among the 16% of family members or decision-makers who experienced a problem with their assistive living community in the past three months, the majority (89%) say the problem was completely resolved.
- Satisfaction is essentially flat in Independent living communities: Overall, resident satisfaction with independent living communities is 728 (on a 1,000-point scale), which is on par with 731 one year ago. Residents noted declines with dining (-6 points), resident activities (-6), and community buildings and grounds (-5).
- Satisfaction increases with resident tenure: Overall satisfaction with independent living communities is highest among residents who have lived there for more than four years (746) and lowest when residents have been living there for one year or less (718).
Community rankings
Life Care Services, the third-largest operator of senior living communities in the U.S., with over 100 communities nationwide, ranks highest in the J.D. Power study for independent living residents overall satisfaction for a sixth consecutive year, with a score of 822.
Five Star Senior Living, a division of AlerisLife, ranks second with a score of 755. Five Star Senior Living also ranks highest in family member/decision-maker overall satisfaction with assisted living/memory care providers, scoring 877.
Discovery Senior Living, among the five largest providers of senior housing with more than 15,000 existing units or units under development, ranks third, scoring 741.
2024 Study results
The U.S. Senior Living Satisfaction Study measures resident satisfaction with the nation’s largest independent living providers for seniors and family member/decision-maker satisfaction with the largest assisted living/memory care service providers.
Overall satisfaction is measured across six factors:
- Community buildings and grounds
- Community staff
- Dining
- Price paid for services received
- Resident activities
- Resident apartment/living unit
The 2024 study is based on 3,565 responses from residents living in an independent community or family members/decision-makers with loved ones in assisted living/memory care communities. Responses were collected from June through August 2024.
However, as over 800,000 older adults in the U.S. reside in an assisted living facility, according to the National Center for Assisted Living, the J.D. Power study draws on only a fraction of all older adults who live in an assisted living or memory care facility. Moreover, the survey has not included the many non-profit or religious communities you may wish to consider. That’s why it’s essential to find the best retirement or senior living community for you or your loved one’s unique needs and lifestyle.
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For the past 18+ years, Kathryn has highlighted the humanity in personal finance by shaping stories that identify the opportunities and obstacles in managing a person's finances. All the same, she’ll jump on other equally important topics if needed. Kathryn graduated with a degree in Journalism and lives in Duluth, Minnesota. She joined Kiplinger in 2023 as a contributor.
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