What You Should Know About the Cost of Continuing Care Retirement Communities (CCRC)

If you’re like most seniors, you’d probably rather live in your current home as long as possible and only move to a senior living community when or if you have to.

Understandably, many are hesitant to move out of homes they’ve owned and lived in for decades. Although senior living communities may seem pricey at first, the cost often includes housing, dining, activities, fitness, transportation and, in CCRCs, access to medical care. Although the cost of senior living communities may seem pricey at first, staying in your home, even if it’s paid off, can cost more than you think.

Choosing a senior living community may be one of the most important (and potentially best) decisions you make, so finding a retirement community that matches your current lifestyle and future health needs can make all the difference in how much you enjoy today and your peace of mind for tomorrow.

That’s why so many seniors choose a Continuing Care Retirement Communities (CCRCs), also known as Life Plan Communities. One of the biggest benefits CCRCs is that they often include a full range of services, amenities and higher levels of care — assisted living, memory care, skilled nursing — should
your health needs change.

How Do CCRCs Work?

Some CCRCs are month-to-month rentals with no large entrance fee. Others are referred to as buy-in or entrance-fee models. Each have distinct advantages, and the best choice depends on your finances, health outlook and personal preferences:

● Entrance Fee CCRCs require a significant upfront payment that provides guaranteed access to a full continuum of care (at a lower-than-market rate) and greater long-term financial predictability. They are ideal for those seeking stability, comprehensive care and a long-term commitment.

● Rental CCRCs require no large upfront fee, offer more flexibility with month-to-month leases and often appeal most to those who prioritize adaptability or have fewer assets. However, monthly fees for higher levels of care may be less predictable or more costly.

What Is The Cost?

According to the National Investment Center for Seniors Housing & Care (NIC), indicate that the average CCRC entrance fee is approximately $300,000, depending on location, amenities, contract type and type of accommodation. Some communities, especially in high-cost urban areas, may have entrance fees as low as $50,000 or as high as $500,000 or more.

NIC reports that average monthly cost for entrance fee CCRCs (at the independent living level) were $4,166 and $3,747 for rental models at the end of 2024.* However, rental CCRCs showed higher monthly rents in the assisted living, memory care and nursing care segments.

*These figures are for asking rates and do not consider any discount that may occur.

CCRCs: A Plan for Today – and tomorrow.

Before you decide what option to pursue, it’s important to make an informed decision. As you start your search, here are five important questions to ask yourself:

1. What are your current and future needs? According to the U.S. Department of Health and Human Services, 70% of seniors 65+ will need some type of long-term care. A Genworth Cost of Care Survey conducted by CareScout® indicated that the national 2023 market rates for care were:

● At-home living options (like in-home nursing and other health aides) — $6,292 a month or $75,504-77,792 annually
● Assisted living — $5,900/month or $70,800/annually
● A private room in skilled nursing — $10,644/month or $127,750/annually

At a CCRC, you’ll pay less than market rates for any higher level of care, or you could only pay for the care you need, helping you preserve your nest egg.

2. What can you afford? Part of the cost of senior living at a CCRC is an ongoing monthly fee to cover meals, utilities, classes, social outings, maintenance and other expenses, so it’s a good idea to figure out what you can afford. (These are expenses you’ll probably have whether you live at home or in a community.)

Here’s an easy cost comparison worksheet: Home vs Community Life

3. Where do you want to live? There are CCRCs all over the country. Do you want to be near family and friends? Or would you prefer to live near a popular vacation destination? Just remember location can impact the cost of senior living.

4. Where can you do your research? Visiting a community’s website and social media is the easiest way to get started. Are there online Google reviews? Once you narrow down your list, you can call and ask questions or request more information. Most importantly, schedule a personal visit.

5. Who do you trust for advice? Asking friends, family, loved ones and physicians for advice is a good way to get a second opinion. If they have time, ask your family to visit a community with you. They can help ensure you’re making the right choice.

Questions to ask when visiting a CCRC.

When considering a CCRC, LeadingAge recommends you ask these key questions:

● Are they for-profit or not-for-profit, and what’s the financial strength of the retirement community?
● What’s included in their monthly cost of senior living? (Does the fee include things like utilities, linen service, a monthly dining allowance, scheduled transportation services, home maintenance, fitness center membership, 24-hour security, property taxes and property insurance.)
● How do they help maintain residents’ freedom and independence?
● What kind of emergency response systems do they have?
● How can residents offer input and feedback about the community?
● What care services are offered on-site?
● What does each higher level of care cost?
● What’s the difference between independent and assisted living, and when would a resident have to move to assisted living?
● If health needs change, can a resident remain in independent living? How is aging in place supported?
● Is there a residency agreement available to review?

You can also download our CCRC community visit checklist.

Find Community
If you’re ready to start researching your living options, we have a list of important things to consider. You can also use our Find a Community tool to search communities near you or in areas of the country you want to live.

Where You Live Matters

Where You Live Matters is powered by the American Seniors Housing Association (ASHA), a respected voice in the senior housing industry. ASHA primarily focuses on legislative and regulatory advocacy, research, and educational opportunities and networking for senior living executives, so they can better understand the needs of older adults across the country.