Independent living monthly fee increases in the not-for-profit senior living and care sector are expected to increase more in 2020 than are assisted living or skilled nursing fees, on average, according to estimates from a survey of financial professionals conducted by specialty bank Ziegler.
The overall average monthly fee increase in independent living, according to responses from 196 not-for-profit senior living and care organization chief financial officers and financial professionals, is estimated at 3.44%. That level compares with 3.27% for assisted living and 3.26% for skilled nursing, Ziegler said. The median monthly fee increase is expected to be 3% for all three levels and care and service.
The average monthly fee increase of 3.44% would be higher than it has been in the past several years, Ziegler said, sharing data going back to 2010.
In independent living, communities that predominantly have rental contracts are predicted to see increases that will be higher than communities that predominantly have other kinds of contracts. In rental communities, the average monthly fee increase will be 3.61%, whereas communities with Type C (fee-for-service) contracts are expected to see the lowest increase, at 3.32%, according to survey respondents.