Senior Living Costs Spike, But What About the Value?

Senior living facilities have rebounded from their pandemic staffing struggles, study shows, but instead battle with matching added value to increased prices.

A caretaker looks after an older woman.
(Image credit: Getty Images)

The onset of the pandemic brought intense staffing challenges across all forms of long-term senior care facilities. A 2022 survey from the Agency for Healthcare Administration (AHCA) found that 87% of nursing homes experienced moderate to high levels of staffing shortages and another 98% faced challenges in hiring new staff. 

In response, facilities often relied on hiring contract workers at a higher cost than full-time employees which increased operating costs. Today those staffing pressures have eased, but the cost of renting in a senior living facility continues to rise. Just because the price has risen, doesn’t always mean the value rises along with it. 

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Seychelle Thomas
Contributing Writer

Seychelle is a seasoned financial professional turned personal finance writer. She’s passionate about empowering people to make smart financial decisions by combining 10 years of finance industry experience with solid research and a wealth of knowledge. Seychelle is also a Nav-certified credit and lending expert who has explored money topics such as debt consolidation, budgeting, credit, and lending in her work for publications including GOBankingRates, LendEDU, and Credible.