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The Cost Of Independent Living: An In-Depth Look

The Cost Of Independent Living: An In-Depth Look

StoryPoint Group
StoryPoint Group | Senior Care Experts
Leaders in Senior Living Services
The Cost Of Independent Living: An In-Depth Look

If you’re retired or approaching retirement, independent living can be a great option, allowing you to live an active, maintenance-free lifestyle on your terms. With our guide, you’ll learn more about what it offers and how it compares to other senior communities. And, we’ll even break down the cost of independent living by state and look at ways to pay for your expenses.

From enjoying your favorite hobby with friends to enjoying a meal without having to worry about preparation or cleanup, it’s all possible. Whatever your ideal retirement looks like, you can achieve it with independent living. Add in convenient amenities and exclusive perks, and you’ll see everything is designed to help you make the most of each day.


What Is Independent Living?

If you’re looking for a fun and leisurely lifestyle in retirement, the tiresome responsibilities of housekeeping and home maintenance can feel like a burden.

With independent living, the days of worrying about grocery shopping, lawn care and home repairs are long gone. It’s all taken care of by on-site, caring employees, allowing you to enjoy a maintenance-free lifestyle — so you have more time to enjoy your hobbies or spend quality time with friends and family.

You’ll live in comfortable, modern housing with access to convenient services and amenities to make your life easier and more enjoyable. And, while you’ll live privately, communities typically have a fun-filled activity calendar for you to enjoy with friends.

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Services Offered In Independent Living

Independent living communities offer various services to support residents’ preferences and lifestyles. Although what’s offered may vary between individual communities, here are the common services you’ll find in independent living:

  • Accommodations
  • Meals
  • Housekeeping
  • Transportation
  • Recreational activities
  • Security and safety
  • Maintenance


How Much Does Independent Living Cost?

Each community offers unique services and amenities that align with residents’ needs and preferences, so they don’t have the same monthly fees.

Influencers Of Cost

Here are some key factors that influence the cost of independent living:


Location is a big factor when determining how much you’ll pay for independent living. Like real estate, communities in convenient, more desirable locations will cost more than those in less desirable areas. The average cost of senior independent living is also affected by a location’s cost of living. If you live in an area with a high cost of living, you’re likely to pay more.

Services And Amenities Included

Independent living communities offer varying services and amenities, which can affect the cost. For example, a community that offers luxury amenities such as a spa, fitness center and golf course will typically cost more than one that provides more basic amenities. The more comprehensive a community’s services and amenities are, the higher the fees will be.

Housing Options

Housing type and square footage can also impact independent living costs. If you need more space, you’ll likely have to pay a higher price.
Some independent living communities offer shared accommodations that are less expensive if you’re comfortable living with a roommate.

Level Of Care Needed

Independent living is designed for seniors who require minimal assistance with daily activities. However, if you have additional needs, some communities provide access to services such as medical support and assistance with mobility. These services are offered at an extra fee and will increase the total cost.

Average Cost By State

To help you estimate the average cost of independent living where you live, we developed a cost calculator tool. You’ll see it just below, and by entering your information, you’ll be able to get a more accurate estimate of the monthly and annual cost of independent living in your state.

These are average costs, and fees may vary between communities depending on individual needs, housing plans and amenities offered.
senior woman reading in a hammock

How To Pay For Independent Living

Now that you know how much it may cost, let’s look at ways to pay for independent living:

  1. Personal savings and investments: Your personal savings and investments can provide a good source of funds as you head into independent living.
  2. Life insurance: Some life insurance policies allow you to “cash out” on your savings to help you cover some costs.
  3. Pension: A pension from a former employer can help you pay for independent living costs.
  4. Home sale: The proceeds from the sale of your home can be a source of funds for independent living.
  5. Long-term care insurance: Most independent living communities accept long-term care insurance payments. However, policies vary in terms of coverage amounts and eligibility.

For instance, some policies require that you need help with at least three daily activities to be eligible for coverage. Therefore, it’s important to read and understand your policy agreement to know what’s covered. Please remember that long-term care insurance (LTCI) coverage needs to be secured many years before you’ll use it.


Use The StoryPoint Group Cost Calculator

Our cost calculator is here to help you get an estimate of the cost of independent living where you live:

See The Costs Of

Senior Living Compared To Staying In Place

We created this senior living calculator to help you determine the costs of senior living compared to remaining in place.

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Compare The Costs Of Senior Living

To accurately estimate the cost of senior living, simply enter your monthly expenses in the field below.

To see an estimate of the cost of senior living, simply select the state and level of care you think is right for you or your loved one.

Select the state you're interested in and level of care that’s right for you.
Question 1/8
Independent Living: For independent seniors who want to maintain an active lifestyle while downsizing their daily living responsibilities.
Assisted Living: Provides daily support for seniors who need help with tasks such as medication management, bathing and dressing.
Memory Care: Specialized care for seniors with Alzheimer's disease, dementia or other memory impairments.
Mortgage or rent*
Question 2/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Total of utilities*
Question 3/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.


*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.


*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.


*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

(Vehicle Insurance, Registration, Gas, Maintenance, And Repairs)
Question 7/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Home Health Care / Companion Costs*
(The National Average Cost Is $3,360-5,760 Monthly*)
Question 8/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Your Results

We took the information you provided to calculate your current living expenses vs. the average costs of senior living. Here are your results.

Your Monthly Estimated Costs
Your current costs (based on the values you entered)
The average monthly cost of Independent Living in

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*This information is intended to aid in the evaluation and the decision-making process related to senior living alternatives. It is based on information and assumptions provided by you and information compiled from multiple accredited sources for comparison purposes. The calculations and comparisons provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information.


Additional Considerations

  • Extra fees: Some communities charge additional fees, such as parking and pet fees, where applicable. These fees can bump up the total cost, so it’s important to inquire about them before selecting a community.
  • Moving costs: Although it’s a one-time expenditure, the cost of packing and moving your belongings to a new home can be significant.

What To Do After Choosing A Community

After thorough research and numerous site visits, you’ve selected a community that aligns with your needs and budget. Here are a few tips to help you settle into your new home:

  • Make the house your own: Personalizing your space can make a world of difference in helping you settle comfortably. Select furniture and decorations that reflect your personality, and turn your new space into a home.
  • Explore the area: Moving into a new community can be an emotional journey, so take your time. Get around, get to know your new neighborhood and discover new spots that align with your hobbies and interests.
  • Make new friends: Friendships make everything more fun. Introduce yourself to community members, and make new friends. Engaging with like-minded peers will give you a sense of community, which is great for your emotional well-being.
  • Participate in social activities: Social activities like outings and volunteer clubs are a great way to connect with peers and learn about the community.
  • Engage community employees: Independent living communities provide 24/7 access to trained, on-site caregivers. Engaging them and utilizing their support and guidance can help make settling in go more smoothly.
  • Keep in touch with family members: Regular video calls with family members can provide much-needed emotional support as you integrate into your new community.


aerical photo of a independent living community

Independent Living With StoryPoint Group Communities

At StoryPoint Group, we believe your golden years should be fun and relaxed. Our independent living communities help you live an active, maintenance-free lifestyle without the hassle of home maintenance or daily household chores — all so you have more time to pursue new hobbies and adventures.

Come see what life is like with us. Schedule a tour of your nearest community or give us a call at 1-844-275-9990 to learn more. We can’t wait to get to know you!

StoryPoint Group

StoryPoint Group | Senior Care Experts

Leaders in Senior Living Services

For more than 40 years, we have been committed to providing our senior living residents with a sense of community and the absolute best experiences they deserve.

Looking For More Information?

Connect with us by phone at 1-844-275-9990 to get answers to your questions, or just to say hello.