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- Assisted Living
- New Mexico
- Albuquerque
Best Assisted Living Facilities around Albuquerque
How much Assisted Living Cost in Albuquerque, NM?
According to Genworth Financials' 2021 Cost of Care Survey, the average cost of Assisted Living in Albuquerque is $4,050 per month, which is similar to the New Mexico average of $4,381. And as compared to the national monthly average of $4,000, Albuquerque Assisted Living cost is almost similar.
How does Albuquerque Assisted Living Cost Looks Like when Compared to Nearby Cities?
Assisted Living rates in Albuquerque and the surrounding suburbs depend on multiple factors, including location, level of care, apartment size, and amenities offered in each community.
The nearest city to Albuquerque in terms of distance is Rio Rancho, where Assisted Living costs around $4,050 per month, The cost is similar to the monthly median Assisted Living in Albuquerque. Seniors in Bosque Farms pay an average of $4,050 per month, which is similar to per month what their peers pay in Albuquerque.
What are the Alternate Senior Care Options in Albuquerque?
Apart from assisted living, seniors have multiple care options in Albuquerque. The senior living you need depends on your required care level and medical conditions. For instance, if you require 24/7 medical supervision, a nursing home in Albuquerque could be the better choice than Albuquerque assisted living care.
Assisted living communities in Albuquerque are designed for seniors who need assistance with ADLs and IADLs. And independent living is for active older adults who can live independently. Thus, assisted living costs are higher than independent living in Albuquerque and lower than more intense medical care options through Albuquerque nursing home and memory care facilities in Albuquerque.
Senior living options with different levels of care available in Albuquerque are:
Independent Living: Independent living is for active older adults who want to downsize to a home in a retirement community but don't need help to live completely alone.
Nursing Home: Seniors who require specialized care and 24/7 supervision should look for nursing homes.
Memory Care: These communities are for seniors struggling with Alzheimer's or other advanced forms of dementia.
Home Care: Caregivers provide services to older adults in their home to provide primary healthcare, meal delivery services, meal preparation, and transportation to and from appointments.
Continuing Care Retirement Communities (CCRC): A CCRC accommodates Assisted living, Independent living, and Nursing Home care. This means that you can live out the rest of your life in the same setting with on-site medical care.
Albuquerque Population and Demographic Indexes
The median home cost in Albuquerque comes at $257,400. This brings Albuquerque housing index to 88, which is higher than the New Mexico housing index of 83.6. The overall cost of living index in Albuquerque is 91.1 that is higher than the national average of 100 and higher than the state average of 88.4.
The population of Albuquerque is 562,540. The median age in the city is 36.2, and about 14% of its population is age 65 or older.
Albuquerque is quite diverse, with white, black, and Hispanic/Latino being the three most common ethnicities in the city, about 40% of residents identify as white alone.
The violent crime rate of 51 in Albuquerque is higher than the national average of 22.7. And the property crime rate of 85.3 seems higher than the national rate of 35.4.
Weather and Climate in Albuquerque
Seasonal Temperatures: Albuquerque has a typical summer high of 92°F and a winter low of 24°F. And the yearly rainfall here is about 11 inches, while the snowfall is around 11 inch(es) on average.
Air Quality: The Average air quality index rating is usually 60, which is higher than the national average of 58.The index rating at or below 100 is considered satisfactory.
Hospital Services in Albuquerque for Elderly People
The health index of 81.1 indicates resourceful quality of healthcare services available for seniors, This index is lower than the state average of 82.6. The Albuquerque hospitals cater their services to meet treatment requirements of seniors and people of all ages. Therefore, you can rest assured of getting the best possible care in Albuquerque for any common or chronic health condition.
Assisted Living Financial Assistance for Seniors in Albuquerque, NM
Different financial assistance options are available for seniors to pay the cost of Assisted living in Albuquerque. In addition to government programs, the Albuquerque area agencies and non-profit organizations provide helping hands towards better senior living in Albuquerque, NM.
Private Pay: Private pay is the safest way to pay for Assisted Living in Albuquerque. This is because you pay out-of-pocket for the low-income assisted living near you. Still, it might not be the easiest option for most seniors. In that case, you can use a combination of the following options.
Reverse mortgage: A reverse mortgage is a loan. An elderly homeowner with significant home equity can borrow against the value of their property and receive funds. The money can come in the form of a fixed monthly amount, a lump sum amount, or a credit line.
Medicaid and Medicare benefits: Every state has its own Medicaid program to help low-income residents with healthcare-related costs. In addition to medical care expenses, Medicaid covers certain long-term care costs for eligible seniors. However, you will need to meet the state-specific requirements to be approved for the Medicaid benefits in Albuquerque. To pay for assisted living in New Mexico, the state mainly uses HCBS Waivers (Home and Community Based Services). But this waiver does not finance the room and board costs in assisted living.
On the other hand, Medicare doesn't pay the cost of ADLs assistance for assisted living residents. Nevertheless, seniors can use Medicare benefits to pay for approved medical care needs in assisted living communities in Albuquerque.
Veteran benefits: The VA’s (Veteran Administration) Aid & Assistance program in Albuquerque, New Mexico pays monthly pensions to eligible veterans and their spouses to help with assisted living payments. Veterans can also use their other benefits to pay for assisted living costs in Albuquerque.
Read more about A&A Veteran Benefits
For more information about different ways to finance assisted living, visit our Assisted Living New Mexico page.
Rules and Regulations for Assisted Living in Albuquerque, NM
Albuquerque Assisted Living communities need to follow a comprehensive set of rules and regulations designed by New Mexico. These regulations ensure that the facilities maintain top-level and secure care services for seniors. For instance, the Assisted Living care facilities in Albuquerque go through extensive training and education for the caregivers. This enables caregivers to be skilled and professional while helping seniors with their daily needs. Visit our New Mexico Assisted Living page to find more information on the state-specific rules and regulations.
Additional Assisted Living Resources for Seniors in Albuquerque
Several government and non-profit agencies work together in Albuquerque to provide seniors with more services. These services help seniors lead a better life in Albuquerque. Depending on the Albuquerque resources, they can include free meal delivery services, utility billing programs, medical programs, and others. Find out the available free resources for seniors from the Assisted Living New Mexico Page.
Frequently Asked Questions about Assisted Living in Albuquerque
Disclaimer
BoomersHub can change without notice any of its compiled cost data provided by senior living communities. This data is used for informational purposes only and may have inaccuracies. In addition, actual independent living costs may vary depending on personal choices and situations.
